Mergers & acquisitions (M&A)
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,…
Opinion: Risk on the boardroom agenda
It is up to risk managers to ensure that insurance buying is a serious strategic issue, says Paul Taylor. The Roads to Ruin report, jointly published by Airmic and Cass Business School in July last year, underlined the importance of having a full…
Editor's comment: The best of British
The timing could hardly have been more apposite. As the Queen sat selecting outfits to commence four days of Jubilee celebrations, Hyperion was preparing to toast its very own regal rejoice: six months after news first leaked of its takeover talks with…
Hyperion sets sights on US consolidators after £95m buy
Hyperion chief executive David Howden has vowed to make a swift return to the acquisition trail following its £95m takeover of Lloyd's broker Windsor last Friday - the group's largest deal to date - thus creating a "credible alternative" to the new wave…
Post magazine - 7 June 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Cobra deadline extended to 15 June
The deadline for the Cobra deal has been extended for the third time.
RSA's Canadian arm acquires Quebec-based P&C insurer
Home, motor and business insurer RSA Canada has agreed to acquire L'Union Canadienne, a Quebec-based intermediated P&C insurer, from its parent company Co-operators General Insurance Company for C$150m pending regulatory approval.
Europa to delist following acquisition
Talanx International AG and Japanese insurer Meiji Yasuda Life Insurance Company have successfully closed their joint acquisition of the Polish Europa Insurance Group.
Fondiaria's conditions threaten Unipol merger
Italian insurer Unipol wants to proceed with its planned merger with Fondiaria-SAI but will not accept certain conditions proposed by its troubled peer, according to Reuters.
RK Harrison buys up Marsh businesses
RK Harrison has acquired four businesses from Marsh UK-owned Gibbs Hartley Cooper.
S&P upgrades Scor to A+
Standard & Poor's has upgraded the insurance financial strength ratings and long-term counterparty credit of Scor SE and various guaranteed subsidiaries from A to A+.
Brit boss Cooter 'continues to assist' in QBE integration
Former Brit director of market management and regional operations Simon Cooter may yet have a part to play following the QBE UK and Ireland regional restructure.
Grupo Catalana Occidente in exclusive negotiations for Groupama's Spanish arm
Grupo Catalana Occidente and French insurer Groupama have entered exclusive negotiations regarding the acquisition of Groupama’s Spanish operation, Groupama Seguros Sant Cugat.
Hyperion completes Windsor takeover deal
International insurance intermediary group Hyperion has confirmed it will acquire Lloyd's broker Windsor from the management and employees and their institutional backer Hutton Collins.
Giles rejects IPO, claiming 15% rise in 2011 operating earnings beats peers
Strategic acquisitions in 2012 by consolidator Giles could still rival those from 2011 by value, if not frequency, despite a renewed focus on organic growth, as it looks to bolster specialisms and close gaps in its geographic footprint.
Cobra takeover deadline extended as only Alto remains in the running
The protracted sale of Cobra, which has recently ended up as a one-horse race, has sparked debate among industry insiders as to whether networks represent limited appeal.