Mergers & acquisitions (M&A)
Carl Shuker hails growth potential as A-Plan buys Ingenie from Watchstone
A-Plan Group has struck its first deal since being bought by Hyperion snapping up telematics specialist Ingenie.
Watchstone opens legal claim process against KPMG
Watchstone, formerly known as Quindell, has filed a claim against KPMG in the High Court believed to be related to the accountant’s 2013 audit of the business, which previously led to a £4.5m fine for KPMG and a public reprimand from the Financial…
Ardonagh strikes deal for Lloyd Latchford
Ardonagh is buying specialist retail broker Lloyd Latchford Group for £15.3m, Post can reveal.
HG to own 20% of Hyperion as investment boosts ‘war chest’ to $1.5bn
When the transaction for HG to invest in Hyperion closes the private equity firm will hold “just over 20%” of the business, CEO David Howden told Post.
Hyperion valued at $5bn as former A-Plan owner HG invests days after sale
Private equity firm HG has invested in Howden-owner Hyperion in a deal that puts a $5bn (£3.9bn) enterprise value on the insurance group.
Ardonagh to sell Bennetts after CMA ruling
Ardonagh has offered to sell motorcycle specialist Bennetts to address the concerns of the Competition and Markets Authority and avoid a “long, burdensome and expensive phase two enquiry”.
Clear buying Brokerbility a “huge step forward”, says CEO Lickens
Clear Group has bought Brokerbility Holdings including its broking, network and technology businesses for an undisclosed sum.
Bupa’s CS Healthcare takeover clears CMA hurdle
The Competition and Markets Authority has approved the proposed merger of Bupa Insurance and CS Healthcare with the pair hoping to complete the deal in January next year.
Analysis: Hastings sale - a welcome and a warning
The bid to take motor insurer Hastings back into private hands is a positive move for the company and a stamp of approval for the sector, say market specialists – but, after years of growth, challenges lie ahead
A-Plan buy cost 'approaching £700m', Howden confirms
Howden’s purchase of A-Plan for “approaching £700m” has created a business of scale that is a true “challenger broker”, according to David Howden, CEO of Hyperion Insurance Group.
Two potential bidders pull out of race for AA
Shares in the AA opened more than 17% down this morning as private equity firms Centrebridge Partners Europe and Platinum Equity both confirmed they would not be bidding for the business.
Howden buys A-Plan creating £4bn UK GWP business
Hyperion's Howden has agreed to buy UK broker A-Plan Group for an undisclosed sum.
Direct Line Group completes Brolly buy
Direct Line Group’s deal to buy insurtech Brolly closed last week, Post can reveal.
GRP makes first purchase in Republic of Ireland with Crotty Insurance Brokers
Global Risk Partners has made its first purchase in the Republic of Ireland taking a majority stake in Crotty Insurance Brokers, Post can reveal.
Fresh owners file £25m legal claim against sellers
Kingsfisher Holdings UK, formerly known as Vantage Holdings, has filed a £25m legal claim in the High Court in London over the deal for Fresh Insurance it completed in October 2018.
Aston Lark buys Brunel Professions
Aston Lark has bought professional indemnity specialist Brunel Professions, Post can reveal.
Co-op faces union protest against Markerstudy job losses
Today members of trade union Unite the Union gathered outside the Rochdale Pioneers Museum in Greater Manchester to oppose incoming job losses at Co-op insurance and the de-recognition of the independent trade union on its sale to Markerstudy.
AA secures four week extension for takeover talks
The three groups eyeing up a takeover of the AA have been given an extra 28 days to make an offer for the business with the deadline moved back from today.
Aon and WTW merger gets shareholder vote of approval
Aon and Willis Towers Watson shareholders have voted in favour of the risk giants' merger.
Competition watchdog opens inquiry into Bupa’s CS Healthcare takeover
The Competition and Markets Authority has opened an inquiry into Bupa Insurance’s proposed merger with CS Healthcare, a Friendly Society with approximately 18,500 members originally set up in 1929 to provide health insurance cover for members of the UK…
Ardonagh buys £20m GWP Thames Underwriting
Ardonagh has bought managing general agent Thames Underwriting for an undisclosed sum adding £20m in gross written premium to the business.
Bollington breaks through £200m GWP with Watson Laurie buy
Bollington has bought North West based corporate insurance broker Watson Laurie for an undisclosed sum, Post can reveal.
Analysis: A tale of two mutuals
Eleven days apart in June, two of the UK’s mutual insurers – Police Mutual and LV – made announcements regarding their futures. Their decisions herald challenging times for the mutual model.
Abbey and Autoline merger to create £119m GWP acquisitive firm
The merger of Northern Ireland brokers Abbey Insurance and Autoline Insurance as Abbey Autoline on 1 September will create a £119m gross written premium growth focused firm that has an eye for striking takeover deals, managing director of the newly…