Mergers & acquisitions (M&A)
Hardy acquisition completed
Hardy has ceased trading on the London Stock Exchange as of today following completion of its acquisition by CNA Financial.
Talanx completes Warta aquisition
Talanx International AG has completed the acquisition of Polish insurance company TUiR Warta SA from KBC.
Shareholders advised to take 20p per share following Cobra takeover
Directors at Cobra have this afternoon reached an agreement over the protracted takeover by the Stephen Burrows-backed Alto Intermediary Group.
July date set for £143m Hardy and CNA merger
CNA's acquisition of troubled Lloyd's insurer Hardy is expected to come into effect on 2 July.
Europ Assistance re-branded following MBO
The team behind the management buy-out of the UK, Ireland and international health solutions business of Europ Assistance has launched its new brand, Aria Assistance, following authorisation by the Financial Services Authority.
Vienna Insurance adds Polish life insurer to CEE portfolio
Vienna Insurance Group AG has acquired a 92% share in Polish life insurance company Towarzystwo Ubezpieczeń na Życie.
3i reaffirms Hyperion commitment amid rumours of cut-backs
Hyperion private equity backer 3i has brushed aside suggestions that it may abandon the international insurance intermediary group, following rumours of cost-cutting at the firm.
Towergate eyes extended regional footprint following Dorset buy
Towergate has made its 10th acquisition of the year after agreeing a deal with Dorset-based Harry Fort Insurance Brokers.
CIRC outlines plan for private investors to own 20% of a single Chinese insurer
The China Insurance Regulatory Commission has revealed that an individual private investor would be able to own a fifth of a single insurance company, as part of new proposals.
Belgian mutual becomes Allianz's second acquisition this month
Allianz Belgium has agreed to acquire the insurance activities of Mensura CCA and its subsidiary Mensura Assurances SA.
Gallagher on the hunt for more big deals after transformational Heath buy
Arthur J Gallagher chief executive Pat Gallagher has confirmed his intention to follow up the company's acquisition of Heath Lambert with further transformational deals of similar magnitude.
Interview: Pat Gallagher and the $5bn plan
Arthur J Gallagher chief executive Pat Gallagher shows no sign of easing up after the acquisition of Heath Lambert 13 months ago, with aggressive growth plans and an eye for further buys.
Grupo Catalana Occidente enters motor insurance top five after Groupama swoop
Grupo Catalana Occidente and INOCSA have signed a binding purchase agreement to acquire Groupama Seguros y Reaseguros SAU, Groupama's Spanish subsidiary.
M&A companies face 90% chance of being sued
There is a 90% chance that a company targeted for acquisition will be sued by its shareholders, yet few businesses document M&A protocols and do not plan to develop them over the next year.
Cloutier: Double Brit deal better for shareholders
The sale of Brit Insurance to run-off specialist Riverstone, two months after QBE acquired its renewal rights, sets up Brit Group to focus on developing its specialist and reinsurance operation and marks the "last major piece of restructuring", according…
Fitch downgrades Brit Insurance Limited over sale to Riverstone
Fitch Ratings has downgraded Brit Insurance Limited's insurer financial strength rating to 'BBB' from 'A', with stable outlook.
Riverstone Group to acquire Brit Insurance Limited
Brit Group has agreed the sale of its FSA-regulated insurance company, Brit Insurance Limited, to Riverstone Group.
Indian insurance employees' association calls for public merger
The All-India Insurance Employees' Association has called for the merger of four public sector general insurance companies to help bring down costs.
Quindell set to boost growth with potential further acquisition
Quindell has reached an agreement to partner with Intelligent Claims Management, a cloud-based claims management network in the UK.
Prior investment leads to Q1 gains at BMS
BMS chief executive Carl Beardmore has attributed "successful investment" over the past two years to recent growth at the firm, underlined by a 28% rise in Q1 revenue on 2011.
Ace swoops for top 10 Indonesian insurer to diversify reach into PL
Ace has announced today that the company and its local partner have reached a definitive agreement to acquire PT Asuransi Jaya Proteksi in Indonesia for approximately $130m in cash.
Airmic 2012: Risk management crucial to M&A activity
Acquisition hungry firms can gain an edge if they effectively manage the inherent risks associated with the process, a joint Marsh and Airmic report has revealed.
Direct Group swoops for second 2012 acquisition with Simple purchase
The Direct Group, a Doncaster-headquartered provider of outsourced services, has acquired Simple Insurance from Leeds-based UK General for an undisclosed sum.
Fondiaria-Unipol merger suffers further setback
Jonella and Paolo Ligresti, two of the principal owners of Italian insurer Fondiaria-SAI, have refused to agree to conditions necessary to waive a mandatory bid on minorities in a planned merger with rival Unipol, threatening to scupper the deal,…