Mergers & acquisitions (M&A)
JLT confirms completion of Italian deal
JLT has combined its existing Italian broking business with the business of Marine & Aviation.
JLT buys Irish broker FBD
Jardine Lloyd Thompson’s Irish subsidiary JLT Insurance Brokers (Ireland) has acquired FBD Insurance Brokers from FBD Holdings for €6.75m up front and a further €1.75m later.
Beazley interest in Hardy underlines 2012 consolidation, claims Fitch
Fitch Ratings has reiterated its expectation that 2012 will signal an increased consolidation in the non-life insurance sector, following the news of Beazley's renewed interest in buying Hardy Underwriting Bermuda.
Fitch positive on Tokio Marine's Delphi swoop for enhancing overseas earnings
Fitch Ratings has said that there will be limited immediate impact on Tokio Marine & Nichido Fire Insurance, a core company in Tokio Marine Group, from Tokio Marine Holdings's proposed acquisition of Delphi Financial Group.
Beazley confirms interest in Hardy
Beazley has confirmed it is interested in buying fellow Lloyd’s insurer Hardy, put up for sale after large Thai flood claims.
Jubilee exit for former CEO Loucaides
Jubilee Group Holdings chief executive Johnny Rowell has this morning announced that Andreas Loucaides will be leaving the business with immediate effect.
Axa sells Denplan to focus on PMI
Axa has sold dental payment plan business Denplan to the Simply Health Group for £115m on a debt free cash free basis.
Brit restructure sees up-for-sale UK arm trimmed of Lloyd's business
Brit Insurance Holdings has confirmed that from the beginning of 2012, all of the group’s reinsurance and specialty business will be written by Lloyd’s Syndicate 2987 (managed by Brit Syndicates Limited).
Moody's completes £50m Barrie & Hibbert buyout
Moody’s Corporation today announced the capture of Edinburgh-based risk management modeling firm Barrie & Hibbert in a deal worth £50m.
Gallaghers puts ‘marker in sand’ with Oxygen Leeds lift-out
Arthur J Gallagher International has finalised its long-speculated lift-out of Oxygen’s Leeds-based corporate risks team, in a deal it confirms will be replicated regionally to build Gallagher Health - its UK retail arm.
Solvency II will drive UK M&A, Fitch predicts
Fitch Ratings expects Solvency II and low valuations to result in further merger and acquisition activity in the UK non-life insurance sector in 2012.
Your say: Nothing left to fight for
Following the recent credit hire case of Darren Bent, and the alleged fraudulent activity of Autofocus, isn’t it time for all insurers to fully embrace the general terms of agreement protocol?
New Giles CEO McManus vows to improve operational focus and retention
Incoming Giles chief executive Brendan McManus has vowed to use his experience of running an underwriting operation alongside a broker business to maximise distribution at his new firm.
Hardy sale: Canopius, Barbican and Aviva linked
As rumours circulate about which insurers will make an offer for Hardy Underwriting, sources have suggested Canopius, Barbican and Aviva could all be interested in the firm.
Review of the year - General insurance: Regulatory dramas
2011, a year dominated by regulatory and legislative change, could yet prove to be a landmark 12 months for the insurance industry.
Interview - Edward Fitzmaurice: Broking promises
With Hastings Direct on the cusp of becoming a top five broker and securing its one millionth customer, 2012 could be a landmark year for chief executive Edward Fitzmaurice
Talanx announces acquisition plans
German insurance group Talanx is to purchase insurance companies Europa Non-Life and Europa Life from private financial group Getin Holding.
AGS hits back at accusation over payment
Avertis Global Solutions has denied allegations that it has failed to pay its field force for three months following the acquisition of Avertis Ltd on 14 November.
Willis acquires Broking Italia
Willis Italy has acquired Broking Italia, which specialises in employee benefits and supplementary pension programs.
Stable outlook for Indonesian non-life market
The outlook for Indonesia's non-life market is stable, driven by benign domestic economic conditions, sustainable demand for insurance policies, and enhanced regulatory capital requirements, according to recent report.
Equistone (Barclays) sells First Assist
Mid-market private equity firm Equistone Partners Europe - previously Barclays Private Equity - has sold after-the-event insurance provider First Assist Legal Expenses for approximately £28m to Burford Capital.
Central snaps up Edinburgh brokers in £2.3m deal
Central Insurance has announced its second acquisition of the year following the takeover of Edinburgh-based Castle Cairn Insurance Brokers in a deal worth £2.3m.
European financial services M&A activity down by 25%
There has been a significant slowdown in European financial services M&A activity during the Q3 of 2011.
CCV names new boss for Moscrops
CCV-owned Lancashire based broker Moscrops has appointed Andrew Champion to take over as managing director following the retirement of Tim Chadwick.