Mergers & acquisitions (M&A)
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.
Zurich closes Santander acquisition
Zurich Financial Services Group has closed the acquisition of 51% participation in general insurance, life insurance and pension operations of Santander in Brazil and Argentina.
Vienna Insurance merges Bulstrad and Bulgarski Imoti
The Vienna Insurance Group plans to merge its two non-life insurance subsidiaries Bulstard and Bulgarski Imoti in order to strengthen its market presence in Bulgaria and make better use of synergies.
Ferma 2011: Torus to bring property underwriting to French office
Insurer Torus has confirmed that it will be bringing property underwriting to its French operation.
Zurich closes MAAB acquisition
Zurich Financial Services Group has completed the acquisition of 100% of the share capital of Malaysian composite insurer Malaysian Assurance Alliance Berhad.
HSBC bidders line up not to comment
QBE, Zurich and Allianz have refused to comment on speculation in a Reuters report that they are among bidders for HSBC’s insurance business.
News analysis: Insurance industry feels the shockwaves of the economic meltdown
It has been hard to escape the doom and gloom of the volatile stock market and wider economic woes over the past week.
Law firm mergers: Transforming the legal landscape
Insurer demands for scale and scope plus the emergence of Alternative Business Structures are fuelling the fires of law firm consolidation.
Top 100 UK insurers supplement: A man for all seasons
As CEO of Ageas UK for the last decade, radical changes in distribution, more intelligent use of capital and the financial turmoil are just a few of the changes Barry Smith has witnessed.
Top 100 UK insurers supplement: Steadying the ship
After a tough 2009, the top insurers have managed to maintain GWP levels in 2010 but snapping at their heels are a few new entrants doing their best to prove there is still money to be made in general insurance.
Top 100 UK insurers supplement - brand analysis: Battle of the brands
With commercial pressures and tough business conditions putting the squeeze on insurance companies, the importance of the brand has never been more vital. So who is getting it right?