Mergers & acquisitions (M&A)
Two US law firms investigating WTW over Aon deal
Two US law firms have launched investigations into whether Willis Towers Watson board directors breached their fiduciary duties or violated other laws around the mega-merger with Aon.
Towergate strikes first buys of 2020
Towergate Insurance Brokers has bought the Education Staff Absence insurance book from Integro and snapped up farm insurance specialist Edwards & Swan Insurance Brokers.
Insurance Covid-Cast episode 12: Newsmaker special with Partners& CEO Phil Barton and chair Stuart Reid
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are working from home, we present the latest in a series of newsmaker specials focusing on the people behind the lockdown headlines.
Covéa pulls out of $9bn Partner Re deal
Covéa has scrapped its $9bn (£7.3bn) buy of Bermuda-based global reinsurer Partner Re from the Ferrari-owning Agnelli family’s holding company Exor less than two years after if failed to takeover reinsurer Scor.
Aon prepared to shed up to $1.8bn in revenues to get WTW deal done
Aon agreed to dispose of business and assets up to a cap of $1.8bn (£1.5bn) in 2019 revenues to satisfy competition regulators or else pay a $1bn fee to Willis Towers Watson in order to get its takeover of the rival broker across the line, filings with…
Interview: Partners&'s Barton & Reid
The easy answer to the question “when is a consolidator not a consolidator” is when nobody is being bought. Phil Barton and Stuart Reid spoke to Post senior reporter Emmanuel Kenning about their latest venture Partners&.
Gallagher ‘wide open’ for acquisitions despite pandemic: CEO Pat Gallagher
Gallagher CEO Pat Gallagher has urged brokers “anywhere around the globe” to consider his firm as a merger partner, despite disruption posed by the coronavirus pandemic.
Pandemic has ‘reinforced’ value of Aon/WTW merger: Aon CEO Greg Case
The value of the Aon and Willis Towers Watson merger has “ironically” been reinforced by the impact of the coronavirus pandemic, Aon CEO Greg Case said on Friday.
Barton plans to more than double Partners& headcount to hit five year £50m revenue target
Phil Barton, CEO of newly formed Partners&, has forecast that the business can grow from 140 staff and £65m in gross written premium to 350 people earning £50m of revenue within five years without further buys.
Blog: Aon’s plan to slash pay, preserve dividend leaves a sour taste
Aon will cut the pay of 70% of its staff and slice executive pay packets as it seeks to preserve jobs during the coronavirus pandemic, but the broking giant’s decision to go ahead with a May dividend payment seems at odds with its message.
This week: A whole new world
I'd like to tell you in my spare time this week I've learnt a new language or picked up a new skill but in the true spirit of staying indoors we've mostly been bingeing on Disney Plus, with the Aladdin remake a firm favourite.
Staveley Head buyer to move ‘majority’ of customers to A-rated paper
One Sure Insurance, which has purchased in-administration Staveley Head's intellectual property and renewal rights, will look to place the majority of its new buy’s customers with A-rated insurers.
Ex-Jelf boss Phil Barton to helm PE-backed broker agglomeration
Former Jelf boss Phil Barton is set to return to the market as CEO of Partners &, a private-equity backed broker that brings together five broking houses operating across the South East, South West and Midlands.
Avantia CEO dispels sale rumours
Mark Eastham, Avantia CEO, has dismissed rumours that the company is for sale.
This Month: Covid-19
On the first Friday in April it is hard to remember what the first Friday in March was truly like. To misquote: that past was a foreign country, we did things differently then.
Analysis: Risk manager associations downbeat on Aon-Willis takeover
Post gathers feedback from across the industry on what Aon’s takeover of Willis – to create the biggest broker in the world – will mean for the market
Aon-WTW merger expected to continue unabated despite pandemic
The deal struck between broking giants Aon and Willis Towers Watson to combine to form the world’s largest insurance broker is unlikely to be jeopardised by the coronavirus pandemic, a corporate advisory expert has told Post.
Arc Legal chases 20% growth following integration of Amtrust stablemate
Legal expenses insurer Arc Legal is aiming to capitalise on developments around whiplash reforms and fixed recoverable costs in commercial disputes, following the integration of fellow Amtrust subsidiary Composite Legal Expenses.
Kingsbridge sold to US-based NSM Insurance
Private equity backer Dunedin has exited Kingsbridge following its sale to Pennsylvania-based NSM Insurance.
Aspen reports ‘disappointing’ results for 2019 as it appoints CFO
Aspen Insurance has reported an operating loss after tax of $48.4m (£39.7m), which it says is driven by costs relating to the acquisition of the company by Apollo Global Management, restructuring costs, reserve strengthening, unrealised investment losses…
Mazars flags CMA interest in Aon/WTW deal
Mazars has forecast that the Competition and Markets Authority will look closely at Aon’s takeover of Willis Towers Watson, as the accountants also predicted the deal could lead to further mergers and acquisitions.
Ratings agencies positive on Aon/WTW deal
Ratings agencies S&P and Moody's have reacted positively to the Aon and Willis Towers Watson merger deal, despite highlighting "significant" execution and integration risk.
'Disappointing' Aon/WTW merger could see risk managers turn backs on broking giants, warns Airmic CEO
The UK risk management association Airmic has voiced disappointment at Aon’s merger with Willis Towers Watson, warning that its members are prepared to turn to alternative modes of risk transfer if they feel they aren’t getting value for money.
Aon CFO outlines costs and timeline of WTW merger
The cost of bringing together Aon and Willis Towers Watson will be up to $1.8bn over three years, with the combined firm facing a months-long process of securing regulatory approval in almost 100 jurisdictions around the world.