Mergers & acquisitions (M&A)
Interview: Ulrich Wallin, Hannover Re - German ambition
Since taking the reins at Hannover Re from Wilhelm Zeller in June last year, Ulrich Wallin has helped the German reinsurer grow both organically and through acquisition. He tells Katherine Blackler about his career, predictions for 2010 and plans for…
Prudential may exit some Asian lines after AIA swoop
Prudential may quit some countries in Asia should it seal the buy of AIG’s AIA, sources told newswire Reuters on Friday, allowing the bulked-up insurer to focus on key markets.
Alterra names new executives
Alterra, the new name for the newly-combined entities of Bermudian reinsurance rivals Harbor Point and Max Capital, has named its executives.
Max - Harbor Point merger won't lead to job losses - sources
The merger between Max Capital and Harbor Point won't lead to job losses in the Lloyd's market, market sources have told Reinsurance.
Harbor Point and Max Capital confirm merger
Bermudian reinsurers Max Capital and Harbor Point have confirmed their merger.
Alway: SBJ experience makes Capital Z a good investor
Jelf has outlined plans to use funds from its share issue and a new debt facility to fund a renewed acquisition drive.
Moody’s affirms Prudential’s Aa2 rating
Moody’s has reaffirmed Prudential’s Aa2 financial strength rating following the announcement that it plans to acquire American International Assurance Company.
Aon in acquisition talks in Italy
Italian paper reports that Aon are looking to expand its business in the region through acquisitions.
AIG confirms AIA sale to Prudential
AIG has confirmed the sale of its AIA unit to Prudential for $35.5bn.
Clear establishes second base after buy
Independent intermediary Clear Insurance Management has created its first satellite office, after completing its purchase of Lynas Vokes Insurance Brokers.
Pick of the week
Post reporter Amy Ellis outlines some of the major stories from this week's issue of Post Magazine.
Lloyd's broker expands overseas footprint with acquisition
Windsor has completed a deal for the minority interest in BGH Risk Solutions, a liability broker that operates in Canada, New Zealand and Australia.
Towergate boss Cullum hails John Charcol swoop as a "perfect fit"
"To have the leading high net worth mortgage broker in the group gives us a huge opportunity to provide mortgages to our high net worth customers and SME owners," he added.
Towergate buys John Charcol
Towergate's financial services arm has finalised a deal to acquire mortgage broker John Charcol, Post understands.
Fairfax acquires Zenith
Fairfax, the acquisitive financial holdings company, has bought US workers compensation insurer Zenith for $1.4bn.
Broker targets £40m turnover after MBO
Leicester-based broker Brett & Randall has set a target of doubling its turnover to £40m by 2015 following completion of a management buy-out.
Esure to stop underwriting Halifax policies
Esure will cease to underwrite Halifax's motor policies after it was bought out by founder Peter Wood from majority stakeholder Lloyds Banking Group in a £185m deal.
KFFS set to "maximise" potential in £200m sale
Kwik Fit's insurance arm is expected to retain its brand if sold for the fourth time in just over a decade by its private equity owners.
European regulation to boost insurance M&A
According to Pricewaterhouse Coopers merger and acquisition activity in the sector is considerably brighter, as the move to Solvency II is likely to attract fresh interest in the insurance industry from a wider range of capital providers.
Editor's comment: Esure sale is yardstick for personal lines deals
The January sales may not have thrown up much in the way of bargains for those hoping to acquire insurance-related companies. But February is looking like it could prove a more successful month for those seeking a nice little earner at a knockdown price.
Kwik Fit looks to dispose of insurance business
According to a reports the company has hired bankers at Credit Suisse to carry out a review of Kwik-Fit Financial Services, which employs more than 1000 people.
Paris Re CEO leaves as PartnerRe cleans house
Paris Re CEO Hans-Peter Gerhardt has left the company in a clean-out of senior staff by Partner Re following last year's takeover by the Bermudian (re)insurer.
Lloyds sells Esure stake to founder Peter Wood for £185m
Lloyds Banking Group has sold its 70% stake in esure, the online insurer, to a management buyout vehicle to be called Esure Group Holdings, led by Esure chairman Peter Wood, for a cash consideration slightly in excess of book value in the Lloyds Banking…
Beazley sets up M&A team
Lloyd's insurer appoints John McNally to head a new team in London focusing on insuring the contingent risks that can otherwise impede merger and acquisition transactions.