Mergers & acquisitions (M&A)
Gallagher enters motorcycle and motorhome space with first acquisition of the year
Gallagher has acquired Devitt Insurance Services marking the group’s entry into the motorcycle and motorhome space.
Abacai’s Day Insure pursued for £500,000 plus by M&A advisory firm
Financial advisory firm Imas is seeking at least £500,000 from Day Insure in a suit that has revealed Aviva, PIB, Pikl, Sabre and Vantage were all in the frame to buy the broker.
LV’s Michael Lawrence on the trends and changes in the broker market
Michael Lawrence, distribution and underwriting director for LV Broker, assesses the 2021 developments in the broker market and explains how resilience, versatility and a clear strategy will be as important as ever this year.
Aviva strikes five-year motor deal with Prestige; Aston Lark inks two more deals; Adiona partners with Duck Creek; and Corvus reveals London market buy
For the record: Post wraps up the major insurance deals, launches and investments of the week.
Markerstudy to keep BGLI brands, staff and management after £400m deal
BGL Insurance is a “complementary fit” with Markerstudy’s existing distribution business and provides cross-selling opportunities as the firm grows to close to six million customers, according to group underwriting director Gary Humphreys.
Markerstudy strikes biggest deal to date with BGL Insurance acquisition
Markerstudy has announced its biggest deal to date with the acquisition of BGL Insurance from BGL Group.
Ardonagh buys MDS; Markerstudy snaps up Clegg Gifford; start-up broker Attis targets London/acquisitions; WTW and Munich Re in parametric 'world's first'
For the record: Post wraps up the major insurance deals, launches and investments of the week.
Jensten reveals £36m cost for four deals in 2021 financial year
Jensten Group has posted a £13.57m post-tax loss for the year ended 31 March 2021 as turnover rose 24% to £21.44m.
Ardonagh’s Phil Bayles on the question of selling to a seller
Phil Bayles, chief commercial officer at Ardonagh Advisory, reviews the lessons learned from his time at Aviva and advises brokers to do due diligence when selling their businesses to avoid ‘seller regret’.
Interview: Andrew Wallin, Ardonagh Specialty
Ardonagh buying the insurance operations of BGC Partners was a “rocket fuel moment” for both organisations with opportunities abounding after the deal which doubled the size of the specialty business, according to Ardonagh Specialty CEO Andrew Wallin.
GRP holdco sets baseline for Searchlight era with inaugural £42m operating profit
Global Risk Partners’ holding company GRP (Jersey) Holdco has posted turnover of £128.8m in its first set of annual results.
Former and current Fresh owners settle legal case
Kingfisher UK Holdings, NSM Insurance and the sellers of Fresh Insurance have settled the legal dispute over the sale of the business.
Sampo buys out RMI to take over Hastings in full
Finnish insurer Sampo has paid Rand Merchant Investment Holdings £685m for its 30% stake in Hastings and now owns the whole business.
Q&A: Nicolas Aubert, formerly WTW GB CEO
Exclusive: Now on gardening leave after almost 18 months of caretaking in his role as Willis Towers Watson GB CEO, Nicolas Aubert speaks to Stephanie Denton about the collapse of the Aon deal, not being chosen to manage the firm and what he achieved…
Andrew Wallin on turbo-charging Ardonagh Specialty
The completion of Ardonagh’s $500m (£374.4m) takeover of the insurance operations of BGC Partners will turbocharge the business, according to Ardonagh Specialty CEO Andrew Wallin.
Competition watchdog clears Gallagher/Willis Re deal
The Competition and Markets Authority has given the green light to the merger between Gallagher and Willis Towers Watson’s treaty reinsurance business.
Briefing: Why a Lloyd’s return for Aviva makes perfect sense
There has long been talk about Aviva returning to Lloyd's having exited in 2000 following the CGU and Norwich Union merger. Post content director Jonathan Swift looks at why a move makes more sense now than it has done over the past two decades.
Iprism management complete MBO
Iprism’s leaders have completed a management buyout of the underwriting agency from Bowmark Capital, Post can reveal.
Briefing: Does the Lemonade-Metromile deal signal the beginning of an insurtech M&A boom?
Post content director Jonathan Swift looks at the rationale behind Lemonade’s proposed takeover of Metromile and asks if the UK could be poised to a see a deal of similar scale among domestic insurtechs.
Rob Gibbs leaves RSA as Lee Mooney and Steve Watson step up in Intact specialty integration
Rob Gibbs, commercial lines managing director at RSA, has decided to leave after 23 years with the business, the insurer has confirmed.
Lemonade acquires Metromile; Convex unveils 'multi-million-dollar partnership'; MNK Re launches UK arm and Chaucer in insurtech tie-up
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Movo Partnership 'outgrows' GRP’s Hedron network after exceeding targets
Movo Parnerthip is leaving GRP-owned Hedron broker network next year as it looks to focus on independence.
Interview: Steve McGill, McGill and Partners
Having successfully launched the boutique specialist (re)insurance broker only two years ago CEO Steve McGill sets out the firm’s ambitious global growth plans, the ethos underpinning the relatively new start-up and reflects on his route through the…
Covéa to buy Partner Re; Lloyd’s joins net zero alliance; another record for insurtech investment; crime tops insurer concerns; and Flood Re on tour
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.