Mergers & acquisitions (M&A)
Liberty Europe adds warranty & indemnity and litigation buy-out cover
The financial lines division of Liberty International Underwriters Europe, part of Liberty Mutual Insurance Group, has launched a warranty and indemnity policy and a litigation buy-out policy.
Quindell revenue rises 904% in 2012
Quindell Portfolio has reported a 904% year-on-year increase in revenue to £137.6m (2011: £13.7m) while pre-tax profit increased by 915% to £41.2m (2011: £4.1m).
Plexus Law to merge with Greenwoods
Defendant insurance firms Plexus Law and Greenwoods are expected to merge in a deal to be completed in mid-May.
Bluefin acquires Bonsure Insurance Brokers
Bluefin Insurance Group has today completed the acquisition of Bonsure Insurance Brokers.
Gallagher acquires Barbon Insurance Group’s commercial and property interests
Arthur Gallagher & Co has confirmed the acquisition of all of the property and commercial businesses within the Barbon Insurance Group, for an undisclosed consideration.
HSBC sells off another Asian insurance asset
Following a series of exits from insurance companies in Asia, HSBC Insurance has now sold its stake in its joint venture in life insurer Hana HSBC Life.
Ageas agrees out of court settlement with ex-Castle Cover shareholders
Ageas has confirmed it has reached an out of court settlement with a number of former senior Castle Cover figures.
News review: 2 May 2013
A round-up of news stories from this week.
$30.5bn spent on insurance takeovers in Asia last year
According to data analysts S&P Capital IQ, there was $30.5bn spent on insurance company takeovers in Asia last year.
Collinson to seal Aria deal in three months
The Collinson Group director David Evans has said the firm's plan to acquire Aria Assistance stretch back as far as Aria's management buyout from Europ Assistance last year.
Helvetia completes acquisition of Chiara Assicurazioni
Helvetia has completed the acquisition of 51% of Italy's Chiara Assicurazioni.
Collinson sets sights on Aria acquisition
The Collinson Group is to acquire Aria Assistance in a deal that will add £50m gross written premium to its balance sheet.
Co-op exits Lloyds branch deal
The Co-operative Group has withdrawn from plans to purchase 632 branches of Lloyds Bank, having first announced a deal in December 2011.
Quindell expands ranks with Crusader acquistion
Quindell Portfolio has acquired motor claims management specialist Crusader Assistance Group Holdings in a £9m deal, subject to regulatory approval.
Barnett & Barnett rebrand delayed by Equity sale
A rebranding exercise at Barnett & Barnett and NBJ was delayed by the sale of Equity Insurance Group to US private equity house Aquiline, according to managing director Neil Campling.
Private equity houses tipped as frontrunners in Giles sale
Giles backer Charterhouse will find a welcoming audience in private equity markets as it seeks to sell its stake in the broker.
Clear Insurance acquires Steveni Kessler
Clear has acquired the noth-London based commercial specialist general insurance business Stevni Kessler.
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
Quindell enters North America through acquisition
Quindell Portfolio has entered the North American insurance market through its acquisition of software as a service-based provider Iter8 in a deal worth £20.8m.
Lloyd’s members agency Alpha unveils new chairman following buyout
Lloyd’s members agency Alpha Insurance Analysts has appointed John Scott as non-executive chairman, subject to approval of both the Financial Conduct Authority and Lloyd’s.
Cathedral listed for sale by PE backer
Lloyd's managing agent Cathedral Capital has been put up for sale by its majority owner Alchemy, a private equity group.
Tawa completes KX sale
Run-off specialist Tawa has completed the sale of 100% of its shares in KX Reinsurance Company to Catalina Holdings (Bermuda) following regulatory approval.
Charterhouse planning Giles exit: report
Private equity firm Charterhouse may be seeking to exit insurance broker Giles, according to reports in City AM.
Croatia to invite bids for state-owned insurer
The Croatian government is gearing up to privatize the country's biggest insurance company and seventh biggest bank, according to reports.