Mergers & acquisitions (M&A)
Market update - High net worth: Time to raise rates in HNW?
Rates in the high net worth market are failing to reflect the risks posed, despite high claims costs. Chinwe Akomah reports on a sector that is starting to come under pressure to deliver results.
CBG shareholders approve sale
At a CBG general meeting shareholders approved the recommended cash offer by Giles Insurance Brokers.
Accenture ties up Duck Creek Technologies acquisition
Accenture has today finalised the acquisition of Duck Creek Technologies in a deal which will see 370 employees of the software solutions business in both the US and UK move companies.
Japanese insurer expands into Europe with Dutch acquisition
Nipponkoa Insurance Co has reached an agreement with Ethias NV to acquire all of the shares of the Dutch underwriting agency Nateus Nederland BV.
OFT clears Google of monopoly rule breaches
One of the UK’s largest aggregators has welcomed the Office of Fair Trading’s decision to clear Google of any monopoly rule breaches following its acquisition of Beat That Quote. Compare The Market said the merger creates “healthy competition”.
Bluefin looks to become ‘consolidator of choice’
Bluefin has staked its claim on becoming the consolidator of choice as it sets out to beef up its existing 54 offices in the UK after getting extra backing from its insurer parent.
News analysis - Axa Commercial: A simply complex strategy
With its UK strategy now signed off by the Axa group board, Amy Ellis speaks to Amanda Blanc and Matthew Reed about what commercial brokers can expect from the insurer.
Giles in bid to protect jobs after CBG buy
Expansionist broker Giles has vowed to protect jobs “where possible”, following the acquisition of Manchester-based broker CBG, which is expected to be finalised within two weeks.
News analysis - Haste departure: Less Haste, more concern?
After nearly a decade as CEO of RSA, Andy Haste has announced he is to step down. Amy Ellis gets the market’s reaction and ponders his next move.
Broker Reich buys Glasgow's Surenet
Independent broker Reich Insurance has bought Glasgow-based broker Surenet Agency, Reich’s second acquisition in two months. It follows the addition of Bolton broker D. Barnett to its network.
Giles confirms redundancies may be needed to "achieve benefits" of CBG deal
Giles has today admitted that in order to achieve the planned benefits of the acquisition of CBG, some operational restructuring will be required following completion of the deal, which may lead to some redundancies.
Postbox: Facing the data challenges of Solvency II
I read your article 'Lack of funds to spark Solvency II M&As', with interest. The article tells us that 31% of insurance firms surveyed are fully aware of the implications of Solvency II, and a further 38% are partially aware, but I wonder how many have…
Giles CEO dampens IPO speculation after £5.1m CBG move
The CEO of Giles Insurance Brokers has dampened speculation his firm will seek an IPO any time soon by claiming that being a listed broker is a "regulatory burden".
NMJ reveals latest acquisition deal
NMJ Insurance Brokers has swooped to make a third acquisition in the form of Scunthorpe-based Barry Fenton Insurance.
Mphasis acquisition broadens reach
IT services company Mphasis has entered into a definitive agreement to acquire Wyde Corporation, an international software vendor and creator of insurance policy administration solution Wynsure.
Clyde & Co and Barlow Lyde & Gilbert merger agreed
A merger between Clyde & Co and Barlow Lyde & Gilbert has been given the go-ahead by the partners of the two firms.
JLT denies Aon takeover bid
JLT chief executive Dominic Burke has branded claims of a potential takeover bid from rival broker Aon as “unimaginable and frankly ridiculous”.
Western European deal-making "fragile" in July
Western European deal-making in July has been described as “fragile” by Zephyr researchers who recorded 1150 M&A deals worth a combined €39 091m in the past month – the weakest monthly result since August 2010.
Interview - Charles Earle: Aiming high with Arista-cratic Earle
Despite falling short of his initial five-year plan, Charles Earle has still seen Arista make considerable achievements. He talks to Lynn Rouse about his philosophy surrounding underwriting control, system transparency and acquisition plans.
Jersey firm has Giles in its sights after takeover
Bosses from Jersey-based Islands Insurance have heralded the acquisition of Reed Insurance Associates as "a big leap forward", after finalising a deal that sees the firm become the self-proclaimed second largest operator on the Channel Islands.
NFU Mutual subsidiary acquires Channel Island broker
NFU Mutual bosses have confirmed that one of its subsidiary companies – Island Insurance – has acquired Reed Insurance Associates in the Channel Islands.
Giles confirms £5m CBG offer
Giles Insurance Brokers has confirmed that discussions are underway with CBG concerning a possible offer at a price of 32p per share in cash for the entire issued and to be issued share capital of CBG.
Accenture to ramp up insurance offering with swoop for Duck Creek
Accenture has entered into an agreement to acquire general insurance software specialist Duck Creek Technologies.
Lloyd's broker THB still on the hunt for deals despite AmWINS interest
Lloyd's broker THB this morning reported that fees and commissions were up 6% to £26m for the 6 months to 30 April.