Mergers & acquisitions (M&A)
MMA to rebrand as Covéa as part of UK merger with Provident
Covéa has announced that Provident Insurance and MMA Insurance will merge into a single company, in a move which has been touted as a “platform for growth” within the UK market.
More M&A expected in Thailand after reinsurers review flood losses
Heavy losses from Thailand’s recent floods are dampening the appetite of global reinsurers to write business in the region.
Malaysian M&A activity to continue in 2012
The high volume of merger and acquisition activities in the Malaysia financial services sectors is expected to continue in 2012, particularly in the area of insurance, a Pricewaterhouse Coopers official has said.
Voyager targets consumers with past convictions
The director if niche broker Voyager is hoping to take advantage of the reluctance by mainstream insurers to offer cover to people with criminal convictions.
BGL linked with Minster Law swoop as insurer/broker ABS uptake tipped to rise
The on-going backlash over referral fees has been credited as both a hindrance and catalyst for insurers and brokers seeking alternative business structures.
Marsh completes acquisition of Alexander Forbes' brokerage business
Broker Marsh has completed its acquisition of the brokerage business of Alexander Forbes.
Voyager boosts acquisition strategy with Culpeck deal
Voyager Insurance Services has started the new year by announcing the acquisition of a niche offering that provides cover to individuals with criminal convictions.
JLT expands in Ireland with FBD purchase
JLT Insurance Brokers (Ireland) has expanded its presence in the country with the acquisition of FBD Insurance Brokers.
Helvetia Switzerland concludes sale of health and accident portfolio
Helvetia Switzerland has concluded the sale of its health and accident portfolio.
JLT completes Italian Marine & Aviation deal
JLT Group has completed the deal to combine its existing Italian broking business Jardine Lloyd Thompson SpA with the business of Marine & Aviation SpA.
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.