Mergers & acquisitions (M&A)
Slovenian watchdog suspends voting rights in Zavarovalnica Triglav
Slovenia's Securities Market Agency yesterday suspended the voting rights of several state-owned shareholders in insurer Zavarovalnica Triglav, until they launch a takeover bid or divest their shares.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days
European M&A opportunities
A range of dynamics influenced mergers and acquisition activity across the CEE in 2012 but as Leonid Zubarev explains the CEE region remains attractive to investors.
Latvia's Eurozone ambitions
If Latvia has its way it will become the 18th member of the Eurozone by the end of 2014. But as the country's institutions prepare to trade lats for euros, what are the implications for its insurance market?
US Risk targeting Lloyd’s brokers for marine, energy growth
US Risk chief executive Randall Goss has told Post he currently in talks to buy three Lloyd’s brokers.
Towergate sells Power Place to Open GI
Open GI has acquired Power Place from Towergate for an undisclosed sum, in a deal which will see 48 staff – including chief executive Nick Giddings – move across to the software provider.
Markel and Alterra shareholders give green light to acquisition
The Markel acquisition of Alterra Capital Holdings has been given the go-ahead by shareholders at both firms following a vote.
Aviva sells Russian life and pensions business to state insurer
Aviva today announced the sale of Aviva Russia to Blagosostoyanie, a non-state pension fund in Russia, for a consideration of €35m.
One Answer Network snaps up Broker Drive
One Answer Network has acquired Broker Drive, in a deal which will see the network increase its membership base to well over 200.
IAG to write off $260m following Equity sale to Aquiline Partners
Insurance Australia Group has announced that it recorded a loss of $182m in respect of its "discontinued" UK operations in the six months to 31 December 2012.
DLG’s international units “attractive to third parties”
Direct Line’s German and Italian businesses could prove attractive to a variety of third parties, according to Investec Securities.
Aviva to sell Turkish unit say market sources
British insurer Aviva has tasked Barclays with selling its Turkish unit Aviva Sigorta, according to Reuters.
Ambridge: Use of transactional cover set to surge
The number of transactional insurance policies could increase by as much as 25% during 2013, underwriter Ambridge has claimed.
Clements grows European footprint with Italsure acquisition
Insurance service provider Clements Worldwide has acquired UK-based expat insurer Italsure.
AIG acquires remaining stake in Israeli JV
American International Group has reached an agreement with Aurec Gold Investments to acquire the remaining 49.99% interest in AIG Israel Insurance Company.
View from the Top: Where is the love?
Survey peddlers should be off the Valentine’s card list as they predict doom and gloom
Groupama MD Matras set to depart as Ageas unveils management shake-up
Ageas has this afternoon confirmed that former Groupama Insurances managing director Laurent Matras will leave the business, as the integration of the acquired firm gathers momentum.
Patrick Gallagher to quit UK business
Gallagher Heath head of retail Patrick Gallagher is returning to his native US next month to take up a new retail role, Post has learnt.
Aviva "delivering on promise" to strengthen cost base
Aviva should be viewed as a "strong restructuring story" given most of the "heavy lifting" to improve its cost base has been completed through the disposal of underperforming business units, according to equity analysts Panmure Gordon.
Markel hoping to close Alterra purchase in April
Markel president William Stovin has told Post the firm hopes to have fully acquired Alterra Capital by the start of Q2.
Beazley CEO downplays M&A interest amid plans for repeat of 2012
Beazley chief executive Andrew Horton has played down the likelihood of acquisitive movement at the specialist insurer in 2013 and is instead aiming for a repeat of the previous year in terms of growth.
Axis acquisition to drive international expansion at York
York Risk Services Group has acquired loss adjuster Axis as part of the company’s plans to expand international growth.
Broking Focus: Cashflow Problem
Macquarie’s withdrawal from cashflow lending last year caught many brokers by surprise, but what has the impact been– and where do brokers look now for finance?
Hyperion agrees deal to take 55% stake in Hong Kong marine broker FP Group
Hyperion Insurance Group has agreed a deal to take a 55% stake in the Hong Kong-headquartered specialist marine broking firm, FP Group.