Mergers & acquisitions (M&A)
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.
ISA 2012: Panel discusses evolving nature of Asian insurance hubs and offices
The changing dynamics of the Asian markets with their European/American headquarters is blurring the status of offices across the continent as regional hubs or self-sufficient management centres, and the divide between a front office and a back office…
Travelers considering India market entry
US-based Travelers Group is believed to be in talks with Indian farm equipment maker Mahindra & Mahindra regarding a bid to enter the country's fast growing general insurance market.
Willis Ireland acquires Attain Consulting
The Irish arm of broker Willis Group has added to its domestic employee benefits business with the acquisition of Attain Consulting and sister company Trustee Principles for an undisclosed sum.
ISA 2012: Insurer bosses claim no foreign player has 'Pan-Asian edge'
As mature markets sink deeper into the eurozone crisis, Asia remains a bright spot for global insurers. That was the view of Johnny Chen, CEO of Zurich Financial Services, who told the audience at ISA 2012 yesterday that he remains positive in his firm's…
Talanx enters Indian market via joint venture
Talanx-owned insurer HDI-Gerling will enter the Indian market through a joint venture with Indian firm NBFC Magma Fincorp after a three-year bid to gain a licence for the region.
Bidders line up to buy $1.4bn stake in Korean insurer
Government of Singapore Investment Corp and Canada's Ontario Teachers Pension Plan are reported to be among the final bidders to buy stakes in South Korea's unlisted Kyobo Life Insurance in deals worth up to $1.4bn.
Tycoon's son makes surprise ING Asia bid
The son of Asia's wealthiest tycoon, Li Ka-shing, has lodged a surprise bid for the south east Asian businesses of ING's $6bn Asian insurance operations, the Financial Times reported today.
Giles hails "peer-beating" 15% rise in 2011 operating earnings as IPO is rejected
Giles CEO Brendan McManus has categorically ruled out an initial public offering as the consolidator today reported a 15% increase in EBITDA to £24m (2010: £21m) on turnover of £81m (2010: £70m) for the full year to 31 August 2011.
In conversation with Davies: Crawford and Coombes on life with Electra
At the tail end of September 2011, the claims solutions provider Davies refinanced, with the existing management and Electra Partners agreeing a buyout that saw Lloyds Development Capital exit the business.
Cobra extends takeover deadline
Cobra has extended the takeover deadline to 7 June as it continues to liaise with Alto Intermediary.
'Strange' name insurers bid for British Money company
London-based online insurance entrepreneur, Simon Burgess, is selling his three companies with “British” in the title and has already received interest from insurers with “strange” names.
ISA Countdown: Q&A with Ernst & Young's May Knight
As the last in our series counting down to Insurance Strategy Asia next week, Insurance Insight spoke to May Knight about her views on the Asian insurance market.
Aviva exiting South Korea and Sri Lanka, reports say
British insurer Aviva is putting its South Korean and Sri Lankan businesses on the auction block, according to reports by Reuters news service and the Chicago Tribune.
Communicating Change: Preparing to be purchased
Groupama UK and its broker subsidiaries were put up for sale in January. How has its management communicated the process to ensure that positive commercial momentum is maintained?
Combined profit of 'going concern' Provident and sister MMA reaches £4.5m
MMA and Provident's final sets of individual annual results published before their anticipated merger reveals a combined pre-tax profit of £4.53m for the year ending 31 December 2011.
Towergate says Cobra withdrawal shows it is financially disciplined and 'boring'
Towergate boss Mark Hodges has said the broker's withdrawal from the race to buy rival Cobra is a sign of Towergate's financial discipline.
Q&A with RSA's Phil Bulgin
Despite media coverage of Asia's restrictive and sometimes protectionist regulatory regimes, the markets remain appealing to foreign insurers. Philip Bulgin, RSA's head of mergers and acquisitions in emerging markets, spoke to Francesca Nyman about Asian…
IAG boss Wilkins admits it may dump loss making UK business
IAG managing director and chief executive Mike Wilkins has said that now is an appropriate time to assess the options for the UK business, given the improvement in its performance and the current UK economic conditions.
AIG to divest shares in AIA in September
American International Group will sell its shares in Asian insurer AIA Group after a lock-up period expires in early September, Reuters has reported.
Interview: JLT's Dominic Burke - a thoroughbred performer
Horseracing-mad Dominic Burke has huge ambitions for JLT, with a firm focus on international expansion, and he scotches those 'for sale' rumours once and for all.
Canopius target Omega blames Bermuda non-renewals for GWP drop in Q1 2012
Omega Insurance Holdings has reported that group gross written premium in the first three months of 2012 totalled $120.6m (Q1 2011: $129.4m).