Mergers & acquisitions (M&A)
Barclays acquires ING Direct UK
Dutch bank and insurer ING has sold its UK savings and mortgage business to Barclays, generating an expected loss after tax of €320m.
Integration costs force AJ Gallagher into the red
Arthur J Gallagher UK has reported an unconsolidated loss before tax of £2.8m for the year end 31 December 2011, compared to a profit of £4m profit for the same period last year.
O'Roarke frustrated at missing out on Groupama 'bargain'
LV boss John O'Roarke admits he was left rueing a "missed opportunity" after hearing how much Ageas paid to secure the acquisition of Groupama.
Legal indemnity and title insurer launches at Lloyd's
A new European provider of legal indemnity and title insurance has launched at Lloyd's.
Randall & Quilter buys captive insurer Rab
Randall & Quilter Investment Holdings has completed the acquisition of the entire issued share capital of Guernsey domiciled captive insurer Rab Insurance from the owner Drakelow Development Holdings.
Cunningham Lindsey UK boss hints at further deals after CVC buyout
Fairfax Financial Holdings is to reduce its stake in Cunningham Lindsey from 43.2% to less than 10% under the loss adjuster's refinancing deal with CVC Capital Partners.
Asta Capital names Tighe as COO and CFO
Lloyd's third-party syndicate manager Asta Capital has appointed Julian Tighe, pictured, as chief operating officer and chief financial officer.
Covéa launches in UK
Covéa Insurance, the business created from the merger of MMA Insurance and Provident Insurance, launched today, promising to deliver "the quality, consistency and financial reassurance that our broker partners and customers value".
Covéa Insurance CEO Reader looking ahead following official launch
Covéa Insurance, the business formed following the merger of MMA Insurance and Provident Insurance, has been officially launched today.
AIA wins race to buy Aviva's Sri Lanka insurance arm
British insurer Aviva has accepted a bid from AIA group subsidiary, American International Assurance Company, for its 58.44% interest in Aviva NDB Holdings Lanka for £31m.
AJG deepens public sector play with Acumus buy
AJ Gallagher International has grown its UK public sector business to more than £150m gross written premium with the acquisition of Chelmsford-based housing specialist Acumus.
Bluefin ponders acquisitions after publishing positive 2011 results
Bluefin has "plenty of cash washing around" should it decide to make an acquisition, according to chief executive Stuart Reid.
Stackhouse to buy commercial broker
Insurance broker Stackhouse Poland has reached an agreement to acquire the business of LFC Insurance Brokers.
Post magazine - 27 September 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Groupama sale to Ageas unlikely to improve either group's rating prospects
The acquisition of Groupama Insurances by Ageas UK should "end uncertainty" among brokers over Groupama's financial strength and creditworthiness in the UK, but will have little impact on the 'negative' rating outlooks of either parent company, analysts…
Aviva sets bid deadline for Malaysian unit
British insurer Aviva and Malaysian bank CIMB Group Bhd have set a 29 October deadline for suitors to place binding bids to buy their Malaysian insurance joint venture, in a deal worth at least $500m, according to Reuters.
Tawa sells reinsurance businesses
UK insurer Tawa is to sell 100% of its shares in KX Reinsurance and its subsidiary OX Re to Catalina for a maximum of $30m.
Gallagher expands public sector offering with Acumus acquisition
Arthur J Gallagher International has acquired housing association specialist intermediary Acumus for an undisclosed sum.
Groupama director Lefèvre quits
Groupama SA boss Pierre Lefèvre, pictured, has resigned from the business by way of mutual agreement.
Ageas buys Groupama for £116m
Ageas UK has acquired Groupama Insurance Company for £116m in a deal that it has claimed propels it to the UK’s 4th private motor insurer with an 11.7% share of the market.
Woodstock acquires Clear Insurance personal lines book
Endsleigh-owned broker Woodstock Insurance has purchased Clear Insurance Management's personal lines book of business.
Swinton acquires Greys Insurance
Swinton has snapped up Lancashire-based broker Greys Insurance as part of a strategy to expand the reach of its commercial division.
Ace aquires Indonesian broker
Ace Group has acquired an 80% stake in PT Asuransi Jaya Proteksi.
Quindell seals South Africa deal with Quintica
Quindell has acquired South Africa-based telecommunications outsourcing service provider Quintica and its international arm Quintica International.