Mergers & acquisitions (M&A)
Allianz agrees deal for Turkish insurer Yapi Kredi Sigorta
Allianz has reached an agreement to acquire a 93.9% stake in Turkish property and casualty insurer Yapı Kredi Sigorta for €684m.
RKH eyes further M&A activity following 13-years of growth
RK Harrison has recorded a 21% increase in turnover to £92.9m for the year ended 30 June 2012, in which the firm maintained a profit margin of 25%.
Quindell acquires medico-legal service provider
Quindell has acquired Isaas Technology, a cloud-based software service provider to the medico-legal and legal services in the UK and overseas, for £1.34m.
Hamburg Internationale acquires run-off portfolio
Hamburg Internationale Rückversicherung, part of Tawa Group, has acquired Lower Insurance AG’s run-off portfolio.
Italian lender to put insurance business on the chopping block
The director general of Italian lender Banca Carige has said it could sell its insurance businesses and property in a bid to plug an €800m euro hole in its capital base.
Lower claims frequency hits Charles Taylor adjusting profit
Growth in Charles Taylor's management services and Isle of Man-based run-off insurance business in 2012 have offset reduced earnings in its adjusting services business, which was hit by a lower number of complex claims than the previous year.
Consolidation "inevitable" in Saudi insurance market according to S&P report
Prospects appear to be improving for Saudi Arabia's insurance industry, according to a new report from Standard & Poor's.
50% growth in M&A transactional insurance in Asia, says Marsh
Global demand for transactional risk insurance grew by 41% last year as firms turned to insurance to protect large deals and cross-border acquisitions and sales, according to Marsh
Cross-border acquisitions drive demand for transactional risk insurance
Global demand for transactional risk insurance grew by 41% last year as firms turned to insurance to protect large deals and cross-border acquisitions and sales, according to Marsh.
PZU linked with Poland's EMC
Polish insurer PZU has been touted as a possible suitor for Polish hospital group EMC Instytut Medyczny.
Canopius to sell off Bermuda operation
Canopius has entered into definitive agreements to sell all of its shares in Canopius Bermuda to institutional investors.
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.