Mergers & acquisitions (M&A)
Ardonagh acquires adjuster; ERS enters new lines; Geico partners with UK insurtech; and Partners& buys in Devon
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Ardonagh to buy Besso and Ed owner BGC's insurance business
Ardonagh has agreed to purchase BGC Partners’ insurance operations, including Besso and Ed.
High Court gives go ahead to RSA takeover
The High Court of Justice in England and Wales has approved the takeover scheme that will lead to Intact and Tryg buying RSA.
Allianz launches recycled parts digital platform; Howden acquires Medical Professional Risk Solutions; and Zurich UK doubles apprenticeship places
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Ardonagh recouped £22.75m from Bennetts sale
Ardonagh's first quarter results have revealed it was paid £22.75m for Bennetts, structured through a £1 sale price and the settlement of Bennetts' debt owed to the group.
Ardonagh Global Partners recruits Morna Leather as CFO
Ardonagh Global Partners, the recently launched investment unit of Ardonagh, has appointed ex-RFIB leader Morna Leather as chief financial officer.
Q&A: Randall Goss and James Begley, Oxford Insurance Group
Post caught up with Randall Goss, chair and CEO of parent company US Risk, and James Begley, chief operating officer of Oxford Insurance Group, to track how the offering was formed, its growth, expansion and acquisition targets. The pair also share their…
Reich targeting £120m GWP within five years
Reich is on track to hit its £100m of gross written premium target for 2022 and will push on to £120m over the next five years, CEO Simon Taylor told Post.
First insurance ESG Framework unveiled; Ardonagh acquires Usay Gp; James Hallam adds trio of buys; and Right Choice completes Bennetts deal
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Gallagher to pay $3.57bn for WTW assets including Willis Re
Aon and Willis Towers Watson have agreed to sell Willis Re and a portfolio of WTW assets to Gallagher for $3.57bn (£2.52bn) to help smooth their merger deal.
Intelligence: Insurtech focus - The insurtechs taking over Europe and beyond
While insurtechs start-ups might start off small, their growth ambitions are anything but. Incumbents are well known for adopting a merger and acquisition approach while insurtechs have a less uniform method to overseas expansion.
RSA confirms takeover regulatory approval and posts best COR in a decade
The takeover by Intact and Tryg has cleared all the regulatory hurdles and should complete at the end of May, RSA confirmed as it posted a combined operating ratio of 86% for the first quarter of 2021.
Direct Line and More Than launch telematics products; Easy Jet adds Covid-19 cover; Sedgwick sells UK subsidiary; and Shift becomes latest European insurtech unicorn
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Editor's comment: Proving its resilience
With May comes the market staple of the British Insurance Brokers’ Association conference, albeit in a slightly different virtual guise. Our thoughts therefore turn to the broking sector and what the impact of the last 12 months have been on it.
Interview: Stephanie Smith, Allianz
Allianz Insurance chief operating officer Stephanie Smith virtually joined Jen Frost to discuss her engineering and aviation experiences, Allianz’s LV and Legal & General integrations and £5bn ambitions.
Admiral comparison site business sale to RVU completes
Admiral’s sale of Penguin Portals, which counts aggregator Confused amongst its offering, to RVU has completed after gaining regulatory approval.
Intelligence: Broker Focus - No sign of slowdown in broker mergers and acquisitions
Many parts of life have been on hold for the past year but broker mergers and acquisitions have gone from strength to strength. Post discovers why this sector has been so resilient and asks what the future might bring
Admiral, Aviva and Lloyd’s sign Fintech Pledge; Nextbase Insurance launches with Axa and Ageas; Rightchoice buys Fresh and Zurich in Ping An tie-up
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Abacai has an 'opportunity to drive' insurtech consolidation but will not pay over the odds, says co-founder Hay
Private equity-backed digital insurance venture Abacai will not be a “consolidator for consolidation’s sake”, although it is inevitable that there will be activity in the insurtech space, one of its co-founders has told Insurance Post TV.
Atlanta to buy Be Wiser
The Ardonagh Group’s retail platform Atlanta is buying Be Wiser, with 60 staff expected to leave Be Wiser as a result of its recent consultation.
Axa teams up with Microsoft; Ardonagh unveils Beazley capacity deal; Lloyd's to open Manchester hub; LV rolls out ethical standard
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Abu Dhabi invests in Qmetric
The Abu Dhabi Investment Authority has taken a stake in Policy Expert owner Qmetric in two transactions, Post can reveal.
European Commission pushes back deadline for Aon/WTW merger decision to July
The European Commission has pushed back the deadline for its decision on whether or not to approve the Aon’s acquisition of Willis Towers Watson, after the broker submitted new commitments.
Markerstudy names former Tesco Bank boss as group chair as it completes Brightside buy
Markerstudy has appointed former Tesco Bank CEO Benny Higgins as its group chairman.