Mergers & acquisitions (M&A)
Economic, regulatory and talent issues holding back growth for insurance CEOs
Over two thirds (70%) of insurance CEOs are planning on changing their strategy over the next 12 months as they try to see past the current difficult economic and regulatory backdrop, according to PwC.
JLT merges Spanish arm with local giant
JLT is to combine its existing Spanish retail broking business JLT-SIACI Espana SL with the business of March - Unipsa Correduria de Seguros, SAU (Unipsa), the fourth largest commercial insurance broker in Spain and a subsidiary of Banca March, to form…
Editor's comment: Speculation turns into action
The chatter around ‘Tesco Law’, alternative business structures and law firm consolidation appears to be getting louder each week as another eye-opening deal is unveiled to the media.
Private equity: Parabis secures Duke Street backing as links are made to prospective ABS bid
Duke Street takes a majority stake in the Parabis Group, opening the way to achieve ABS status
Vietnam's finance ministry calls for consolidation to strengthen insurance market
Vietnam’s finance ministry plans to restructure the country’s insurance industry this year in a bid to stabilize the market, according to reports in the local press.
AmWINS deal gives THB “firepower”
Frank Murphy, chief executive of THB Group, told Post that it is “business as usual” in London following the AmWINS takeover of the THB Group.
Acquisition-hungry Beazley still in profit
Lloyd’s insurer Beazley reported a profit of $62.7m, down 75%, despite catastrophe losses and said it had a war chest of more than $400m to buy Hardy, other Lloyd’s businesses or European insurers struggling with solvency II.
Duke Street snaps up 'significant stake' in Parabis
Duke Street bosses have credited an “opportunity to invest in a fast growing, dynamic and fragmented sector” as reason behind its purchase of a “significant stake” in legal and claims management firm Parabis Group.
KBC has no plans to sell Bulgarian subsidiary
Belgium's KBC has denied claims in the local media that it plans to divest itself of Bulgarian insurance subsidiary DZI.
News analysis: Management buyouts on the rise as teams tire of waiting
Following MBOs at Europ Assistance and A&A Group, could 2012 see a rise in such deals?
Newly acquired Chesterfield eyes further expansion
Lloyd’s broker Chesterfield, recently acquired by HW Kaufman Financial, plans to “more than double in size” in the next two years.
US broker acquires London-based Chesterfield
HW Kaufman Financial, parent company of wholesale broker and underwriter Burns & Wilcox is to buy London-based insurance broker and underwriter Chesterfield.
Japanese insurance giant plots merger
NKSJ Holdings, Japan's third-largest general insurer, is planning to merge its two main units, Sompo Japan and Nipponkoa Insurance, according to report.
CCV completes first two deals of 2012
Lyon Insurance Services in Anglesey and Crown Insurance Brokers in Birmingham have been fully acquired and both will join existing CCV businesses.
Tawa, Skuld and Paraline complete Whittington deal
A consortium comprised of Tawa, Skuld, and Paraline Group has completed on the acquisition of Whittington Insurance Market.
Whittington London market deal done
The consortium of Tawa, Skuld, and Paraline Group, has completed the acquisition of Whittington Insurance Markets, the London-market operations of Whittington Group.
THB’s Murphy heralds AmWINS deal
AmWINS takeover of the THB Group has been completed with Frank Murphy, chief executive of THB Group, becoming CEO of the AmWINS international division too.
Mergers & Acquisitions: Bucking the trend
As the market weighs up the value of assets such as Groupama and Brit’s UK arms, deal making by insurers appears to be buoyant, especially when compared to other industry sectors. But is this a trend that is set to continue?
Ironshore names Aon’s Cheung for M&A
Ironshore has announced that Katherine Cheung has joined the mergers & acquisitions division as underwriter and solicitor of its Lloyd’s Pembroke Syndicate 4000.
Reinsurance rates in Spain fell at January renewal
Reinsurance rates in Spain fell at the January 1, 2012, renewal, despite the effects of the European financial situation on the primary market.
Quindell takes 30% stake in Ai Claims
Quindell Portfolio has added to yesterday’s purchase of law firm Silverbeck Rymer by taking a 29.9% in Ai Claims Solutions.
Aon acquires 80% of Spanish broker GDS
Aon Corporation has agreed to acquire 80% of Spanish insurance broker GDS from banks La Caixa and Banca March.
Groupama UK CEO quashes MBO speculation
Groupama UK chief executive François-Xavier Boisseau has ruled out a management buyout.
Law firm sale hinges on SRA approval
Solicitors Regulation Authority approval is required before one of the first law firm takeovers can go ahead.