Mergers & acquisitions (M&A)
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Howden buys Indonesian broker
Howden Broking Group has acquired Accette Insurance Group's Indonesian operation, PT Accette Brokers Asuransi, in a bid to to capitalise on a growing affluent community and low insurance penetration in the country.
Purchase of Indonesian broker provides Howden with 'growth opportunities'
Howden Broking Group has completed the acquisition of Accette Insurance Group's Indonesian operation, PT Accette Brokers Asuransi.
Vienna Insurance completes merger of Polish insurers
Vienna Insurance Group has completed the merger of non-life insurers InterRisk and PZM, concentrating its market presence in the core Polish market.
Heath Lambert integration costs fail to halt Gallagher growth momentum
Arthur J Gallagher has chalked up a strong first half to the year, despite the continued Heath Lambert integration costing the business $3.3m (£2.1m) in H1 2012 - a $1.5m rise on the same period last year.
Aviva offloads east European life insurance units
British insurer Aviva has agreed to sell its east European life insurance businesses to US rival Metlife.
Canopius primed for Bermuda departure amid Tower merger
Canopius will exit its existing Bermuda reinsurance operations after New York-listed Tower Group exercised its option to merge.
Brit CEO vows to target growth while committing to Simply Business
Mark Cloutier has promised to go on the attack by targeting growth in key areas following a business restructure towards global specialty underwriting, which he describes as "99% complete".
Brit unveils positive 11.5 point COR swing as business takes new direction
The Brit Group has this morning recorded a combined operating ratio of 93.3% for the first six months of 2012 (30 June 2011: 104.8%), having completed a restructure into becoming a focused global specialty underwriter.
Cooter departs QBE after helping with Brit integration
QBE has confirmed the departure of Simon Cooter, former Brit director of market management and regional operations, having assisted in the business integration following the April takeover.
Groupama to sell Polish arm to Generali JV
Groupama has agreed to sell its Polish operation Proama to Generali PPF Holding, a joint venture between Italy-based Generali and central European investment group PPF.
Towergate on course to double 2011 acquisitions total, says M&A boss Saulter
The acquisition of two more insurance brokers has seen Towergate match the total number of deals it closed in 2011 in the first seven months of this year.
Cobra shareholders accept Alto offer
Alto Intermediary's recommended cash offer to acquire Cobra has received more than 98% acceptance from the broker's shareholders.
Teeside broker Henderson completes Arlington acquisition
Henderson Insurance Brokers Teeside has acquired north east firm Arlington, an independent financial advisors with a portfolio in excess of £100m.
EC approves acquisition of Groupama's Gan by Allianz France
The European Commission has cleared under the EU Merger Regulation Allianz's proposed acquisition of a non-life insurance portfolio of Groupama-owned Gan Eurocourtage.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
PSC Insurance bags sizeable stake in Carroll London Markets
The PSC Insurance Group has completed the purchase of a "significant shareholding" in Carroll London Markets.
Rumours of Solvency II M&A greatly exaggerated
Solvency II will not result in market consolidation, at least not in the near term, according to Ovum's senior analyst for insurance technology.
Aria Assistance swoops for POH one month after MBO
Aria Assistance has underlined its commitment to the occupational health services sector with the acquisition of Premier Occupational Healthcare.
Towergate M&A boss outlines 2012 targets following double raid
Towergate is on track to double last year's acquisitions total, leading the firm's M&A director to hint at yet more upcoming deals across the UK.
HSBC looking to exit Vietnamese insurer, sources say
HSBC plans to continue the sale of its insurance assets by divesting its stake in a Vietnamese insurer, according to sources.
Homeserve denies sale talks
Homeserve has issued a statement on the London Stock Exchange in which it denies having engaged in discussions with potential buyers.
Helvetia swoops on Groupama's Gan in €38.5m deal
The Helvetia Group has confirmed it is to take over the French transport insurance portfolio of Gan Eurocourtage, a subsidiary of Groupama SA.
Vienna Insurance on the lookout for east European SMEs
Vienna Insurance Group is eyeing acquisitions in eastern Europe, its main profit driver, and could make a record profit this year if there are no major natural catastrophes.