Mergers & acquisitions (M&A)
Ace on a 'hunt' to buy Japanese firms
Ace Group has revealed its interest in Japanese acquisition targets in a conference call with analysts
JLT expects to make financial progress in 2012
Broker JLT told shareholders today that the company remains well placed to make financial progress in 2012, despite the uncertain economic outlook.
Canopius in US tie-up for Omega buy
Canopius has said its takeover of Omega will be funded partly by issuing new shares representing a 30% increase in shareholders' equity and a deal with US insurer Tower Group.
Canopius swallows Omega for £164m
Omega bosses have agreed to a takeover by Canopius and will recommend the 67p a share cash offer in a deal worth £163.6m.
Cooper Gay private equity deal 'not concrete'
Cooper Gay Swett & Crawford has confirmed that the broking group's chief executive, Toby Esser, is in talks with potential private equity investors, although no deals have been struck yet.
Prudential considers Thai bank's insurance book
British insurer Prudential is considering bidding for the insurance business of Thailand's Thanachart Bank, according to Reuters.
McManus "excited" as he starts his first day at Giles
New Giles CEO Brendan McManus told Post that organic growth will be the main focus under his leadership.
Davies swoops for liability adjuster Ufton
Private equity-backed loss adjuster Davies has bought liability and construction specialist Ufton Associates.
Randall & Quilter suffers after tax loss following goodwill charge
A £13.5m goodwill impairment charge has resulted in bosses at Randall & Quilter announcing an after tax loss of £488 000 in 2011, following a 2010 profit of £6.4m.
RSA chief to target 'smallish' opportunities outside the UK
RSA boss Simon Lee is eyeing growth outside the UK with the acquisition of a number of "bolt-on" businesses, while also suggesting he is not ready to launch a big money raid anytime soon.
Am Wins and New Mountain Capital complete $1.3bn partnership deal
Am Wins has today revealed a growth-oriented recapitalisation partnership with New Mountain Capital in a deal worth approximately $1.3bn (£820m).
IAG continues Asian expansion with Vietnam acquistion
Insurance Australia Group has entered into a conditional agreement to acquire 30% of Vietnam-based AAA Assurance Corporation.
Lloyd's Lonmar sells MediCare to April
Lloyd's broker Lonmar Global Risk has agreed terms for the sale of its MediCare International subsidiary to French firm April.
Lonmar sells Medicare to France's April
Lonmar Global Risks has agreed terms for the sale of its managing general agent, MediCare International, to French broker April.
Uniqa exits Germany as Continentale aquires Mannheimer
The Continentale insurance group has signed an agreement to acquire 92% of the shares of Mannheimer AG Holding from Austrian firm Uniqa.
IAG expands in Asia with Malaysian acquisition
Insurance Australia Group's Malaysian joint venture, AmG Insurance Berhad, has agreed to acquire Kurnia Insurans Berhad for RM1.55bn (€384m).
ABN Amro sells corporate broker to Aon
Bank ABN Amro is selling its corporate insurance broker business to Aon.
Quindell ups Ingenie investment to 19.7%
Quindell has acquired a further 16.4% of Ingenie, the insurance intermediary digital brand for young drivers, in exchange for £2.85m. The investment takes Quindell’s holding in Ingenie to 19.7%.
QBE move for Brit secures broker backing as deal doubles regional GWP
Acquiring Brit UK's renewal rights is Australian insurer QBE's biggest UK deal in more than 10 years, and signifies its commitment to becoming a major player in the regional broker market insuring SMEs.
Post blog: musings on management movement at QBE/Brit
Three years ago in conversation with a senior figure at QBE they commented enviously about Brit’s cricket sponsorship, and how it had helped raise the profile of its Lloyd’s rival in tandem with England’s own recent success.
Hyperion denies strategic shift to broking amid IPO plans
Hyperion boss David Howden has denied analyst suggestions that the decision to part company with CFC Underwriting could herald a shift towards a broking focus in light of an upcoming IPO bid.
Editor's comment: Fleeing the family nest
This week’s deal developments read like two coming-of-age literary fables written to reward hard work and endeavour, while also serving as cautionary tales against potential fallout from familial difficulties in modern times.
Transactor boss revels in rising turnover and record acquisitions
Transactor Global Solutions is expecting to announce a combined group turnover of more than £6.5m following a year in which business acquisition reached a new high.
CCV buys remainder of Capital & County
CCV has bought broker Capital & County outright after originally buying a 30% shareholding on 1 September 2008.