Mergers & acquisitions (M&A)
Alterra merges Irish operations
Alterra Capital Holdings has merged its Irish underwriting companies, Alterra Europe and Alterra Reinsurance Europe.
RK Harrison set to buy MWA
Mercury West Associates has accepted an offer to be acquired by employee-owned insurance and reinsurance broker RK Harrison Group.
RBSI bid rumours rubbished
Rumours of a £4bn CVC bid for RBSI are wide of the mark, market sources have told Post.
Law firms Beachcroft and DAC merge
Beachcroft and Davies Arnold Cooper have merged to form DAC Beachcroft.
Invicta completes Fountain buyout
Invicta Insurance Services will tomorrow (Tuesday 1 November) complete its latest acquisition, the household and property owners’ portfolios of Dorset broker Fountain Insurance & Investment Services.
Aon reports 38% jump in profits for third quarter
Aon net revenue increased 38% to $198m (£122.8m) for the quarter ended 31 September 2011, compared to $144m for the previous year.
Swedish Lansforsakringar's ratings on negative watch
Moody's has put Swedish health insurer Lansforsakringar's 'A2' IFSR and 'A3' issuer rating on negative watch.
Broking supplement - Top 25 EC3 Brokers - Analysis: Perennial growth
There have been a few changes at the top – but it has been another year of steady progress for the top 25 EC3 brokers.
Broking supplement - Interview Toby Esser: Expansive thinking
Toby Esser talks about striking serious deals, his acquisitive ambitions and plans to penalise paper-lovers
R&Q gets £30m bank takeover fund
Randall & Quilter has completed a £30m funding package with Clydesdale Bank Corporate and Structured Finance to fund future acquisitions.
Shareholders support Jardine Matheson's JLT buy-in bid
Jardine Matheson’s bid to increase its stake in broker JLT by buying 10% of the company got more than 85% support from the other shareholders.
Vienna Insurance Group completes Jahorina acquisition
The Vienna Insurance Group is the new majority shareholder in Jahorina Osiguranje AD Pale insurance company.
Drainage firms merge to create £50m turnover
Two independent drainage companies have merged in a bid to create a £50m turnover in the provision of specialist services to household, industrial, commercial, transport and water sectors.
BP Marsh reaps investment profits
Insurance industry venture capital firm BP Marsh announced a near 70% rise in pre-tax profit to £2.3m (2010: £1.4m) and said its net asset value (NAV) had grown 8.1% during the year.
European insurers vie for KBC's Polish Warta
Several European insurers are believed to be in the running to acquire Polish insurance company Warta from Belgium's KBC, according to reports from Polish financial daily, Parkiet.
Axa and Generali in running for HSBC non-life book
European insurers Axa SA and Assicurazioni Generali SpA are thought to have submitted first-round bids for HSBC's non-life insurance business in a deal worth up to $1bn (€728m), Reuters has reported.
FSA approves Haverford’s Omega bid
Haverford (Bermuda) has secured approval from the UK Financial Services Authority for its proposed acquisition of up to 25% of troubled Lloyd’s insurer Omega.
BGL gears up European expansion plans
Compare The Market owner BGL has turned down acquisition opportunities in Europe, but continues to look to grow its presence on the Continent, with discussions in Italy and Spain ongoing.
Interest from Middle East inevitable due to depressed share prices
The European insurance industry is likely to see an investor from the Middle East take a shareholding in an established brand within six to eight months, according to a regional expert.
Pemberton launches €500m private fund
Specialist private equity firm Pemberton Capital Advisors is launching a €500m European Services Fund targeting the financial services and telecommunications sectors in Europe.
JLT completes Chile broker buy
JLT has completed the £10m acquisition of an initial 50.1% stake in Alta, the holding company of Chile’s fourth biggest broker Orbital Corredores de Seguros.
Davies and Electra to head out on acquisition trail
The bosses responsible for acquiring claims management firm Davies last week, in a £60m deal, have vowed to pursue further growth with a variety of acquisition targets.
BIS 2011: Indebted firms face refinancing battle
Brokers could be facing a “refinancing battle” over the coming years, according to an insurance banking expert who has issued a stark warning to heavily indebted businesses.
Interview - Simon Burley: Adjusting the image
Simon Burley, the new president of the CILA, promises to transform the image of the claims industry and improve the reputation of loss adjusters in the UK.