Mergers & acquisitions (M&A)
Sky takes majority Neos stake from Aviva
Exclusive: Sky UK has taken a significant stake in smart home insurtech Neos from Aviva.
Bermuda reinsurer Arch buys Arron Banks’ Somerset Bridge
Arch Reinsurance has struck a deal to buy Arron Banks-backed Somerset Bridge, snapping up the motor managing general agent, distribution arm, affiliated insurer and claims operation for an undisclosed sum.
A-Plan targets £1bn GWP within four years
A-Plan Group is aiming to break the £1bn gross written premium barrier within the next four years, CEO Carl Shuker told Post.
Headwind concerns drive European insurers to consider business sales
European insurers are increasingly look to divest parts of their business in the wake of the pandemic, a survey of chief financial officers conducted by rating agency Moody’s has found.
Aegis launches assailant parametric product; Amicus in MBO; Davies buys two; and Vitality Car launches
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
US DOJ sues to stop Aon/WTW merger
The US Department of Justice has filed a civil antitrust lawsuit to block Aon’s proposed $30bn acquisition of Willis Towers Watson, saying the merger threatens to eliminate competition, raise prices, and reduce innovation.
Scor and Covéa ink truce bringing bitter feud to an end
Covéa and Scor have signed a settlement agreement that will see all legal action between the two dropped.
Tom Wakefield named Gallagher Re CEO ahead of Willis Re merger
Gallagher has revealed that Tom Wakefield will become CEO of Gallagher Re taking over from Simon Behagg.
RSA targeting motor and SME, says CEO Scott Egan as takeover completes
RSA is in a “cracking place” and ahead of where it would expect to be, according to Scott Egan CEO for the UK and international.
Howden unveils ESG insurer; DLG launches tech platform; Zego introduces pregnancy loss leave; Hiscox in legacy tie up; Brit debuts consortium
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Insurtech Focus: Incumbents and insurtechs
Over recent years the talk around insurtechs has moved from disruption to co-operation. With this in mind, Post canvassed a host of major insurers to discover which start-ups they work and/or invest in; and what they look for when it comes to digital…
RSA sale to Intact and Tryg completes
RSA has been bought by Canadian insurer Intact and Danish provider Tryg as scheduled for £7.2bn in cash with CEO Stephen Hester departing.
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.