Mergers & acquisitions (M&A)
MVP boss McCaffrey closes in on second broker investment deal
Minority Venture Partners chief executive James McCaffrey has played down comparisons between his newly launched broker investment vehicle and Towergate’s Cullum Capital Ventures, ahead of ploughing investment into a second provincial broker.
Allianz seeking €1.2bn asset deal with Italian insurer
Italian insurer Unipol Gruppo Finanziario is considering a proposal from Allianz to buy €1.2bn (£987m) of insurance assets.
Markerstudy spurned last minute Co-op bid
Gibraltar-based motor insurer Markerstudy declined an offer to join an unnamed US investment house in a last-minute bid for the Co-operative’s general insurance arm, Post can reveal.
The Co-operative has done a u-turn over insurance sale - but for how long?
The news that the Co-operative Group has decided not to sell its insurance business after putting it in the shop window in March last year might have caught some on the hop.
Markel acquires Abbey Protection
Markel Corporation has completed a deal to acquire legal expenses insurer Abbey Protection after being granted approval by courts.
2014 tipped to see consolidation surge as sector’s M&A appetite increases
Regulatory certainty, soft market and economic recovery make deals likely.
C-Suite: Look east for growth opportunities
To grow and prosper, all businesses need to seek new territories and then adapt their model to the needs of the local market. This is especially true of modern Lloyd’s brokers, for which simply being in London ceased to be the ultimate competitive…
Kingsbridge sells minority stake to private equity firm
Insurance broker Kingsbridge Risk Solutions has sold a minority stake to Isis Equity Partners, in a deal preserving the structure of the business.
Oval staff informed of Gallagher talks ahead of March deal
Oval staff have been informed about the broker being in exclusive acquisition talks with Arthur J Gallagher, a source close to Oval has said.
Towergate completes triple acquisition
Towergate has inked deals to acquire Canworth Commercial, Irvine Insurance Services and John Fairley Insurance.
Ace acquires majority stake of bank's insurance arm in Thailand
Ace has taken a 60.9% stake in the general-insurance division of Siam Commercial Bank for $185m (4.5bn baht).
Gallagher tipped to enhance global stature with Oval acquisition
A take-over of broker Oval would see Arthur J Gallagher cement its position within the top echelons of the broking world, according to Bluefin executive chairman Stuart Reid.
Sale of Equity Direct Broking to NMG completed
Equity Insurance Group has announced the completion of the sale of Equity Direct Broking to NMG Holdings.
Hastings staff to pocket windfall as Goldman Sachs deal is completed
Goldman Sachs Merchant Banking Division has signed off on a deal to acquire 50% of the voting share capital in Hastings Insurance Group.
Aviva and Sampo floated as potential suitors for RSA
Investment bank UBS has lifted its price target on RSA from 100p to 113p and issued a buy rating for the insurer, based on the prospect of a consortium bid for the firm led by Scandinavian rival Sampo.
Brokerbility wraps up Fehnert acquisition
Brokerbility has confirmed a deal to acquire East Midlands broker Fehnert, as well as recruiting a new member to its broker group in the South West.
Swinton acquires Harrogate insurer's GI book
Swinton has acquired the general insurance book of Harrogate-based insurer Harrington Bates while announcing it expects another acquisition deal to be completed this month.
Central deal was two years in the making, claims Marsh boss
Marsh’s first ever managing director for Scotland is targeting regional dominance after revealing an array of interested parties were turned down ahead of the deal that saw his former Central Insurance Services business acquired by Marsh.
Marsh cements Scottish position with Central Insurance deal
Marsh has reached an agreement to acquire Aberdeen-based Central Insurance Services in a deal that is expected to propel the combined entity to being the leading broker in Scotland.
Lark to generate £25m annually following HMT re-brand
HMT has been re-branded as Lark Special Risks & Post Conflict five months after Lark acquired the Esher-based broker.
Cullum set to launch equity release venture
A new broker equity release venture backed by Towergate's non-executive deputy chairman Peter Cullum is set to launch in the coming weeks.
Hampden Underwriting acquisitions increase underwriting capacity to £20.2m
Hampden Underwriting has acquired two further Lloyd’s limited liability members taking its total underwriting capacity to £20.2m.
GC Securities selected as sole financial advisor for Canopius sale
Guy Carpenter’s GC Securities is acting as the sole financial advisor to the shareholders of Canopius in the sale to NKSJ Holdings, through its insurance subsidiary Sompo Japan Insurance.
Helvetia increases its share in Nationale Suisse
Helvetia Group has cemented itself as a core shareholder in Nationale Suisse after one of its businesses increased its stake to 12.7%.