Private equity (PE)
Ex-BGL boss Matthew Donaldson moves to Chill
Matthew Donaldson, former CEO of BGL, has joined Three Rock Group as chairman.
For the Record: BGL rolls out digital claims, Chubb backs Covid-19 cover, Covea in Vitality tie-up, insurtech funding hits £5.2bn and Tractable deals
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Markerstudy restructures debts and looks to acquisitions with £200m PE-led investment
Markerstudy has agreed a £200m investment led by private equity firm Pollen Street Capital, which will see its debts to Qatar Re restructured and fund organic and acquisition-led growth.
We can double again, says PIB boss Brendan McManus after Apax deal
PIB Group can double in size over the next five years, CEO Brendan McManus told Post after private equity firm Apax Partners became the firm’s lead investor taking over from The Carlyle Group which has retained a stake.
For the Record: Aviva rationalises office space, RSA deal gets greenlight, Miller enters HNW and Corant Global is born
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
For the Record: The week in deals featuring Allianz, Clyde & Co, Convex, Gallagher, Howden, Kennedys, LV, New Dawn Risk and Woodgate & Clark
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Briefing: Seven insurtechs to watch in 2021
For a sixth year running, Post content director Jonathan Swift scans the insurtech space and identifies up-and-coming businesses potentially worth watching over the next 12 months.
Loss making SSP reveals financial struggles ahead of sale
SSP made an after tax loss of £115m in the 18 months to 30 September 2019 and breached its banking covenants in March 2020, the business has revealed ahead of its takeover by Canadian firm Constellation Software.
SSP users hopeful of investment as takeover nears completion
Users have expressed hope that SSP’s expected takeover by Canadian-listed Constellation Software will lead to investment in the technology company as it exits private equity ownership.
For the record: The week in deals featuring Aston Lark, GRP, PIB, Marsh, MS Amlin, Nexus, Partners& and Sedgwick
Post wraps up the major insurance deals, launches, investments and strategic moves of the week
For the record: The week in deals featuring Aviva, Dual, Revolut, Specialist Risk Group and Willis Towers Watson
Post wraps up the major insurance deals, launches and investments of the week
Tasker targeting up to five more deals in 2021 after Numark buy
Tasker Insurance Brokers is looking to expands its regional footprint with a series of hub purchases next year, group CEO Rob Organ told Post.
Union GMB calls for government intervention in AA deal
Trade union GMB called on the government to protect the AA from being “asset stripped” as the motoring group accepted a take-over offer from private equity firms.
AA accepts take-over offer from private equity firms
Motoring group the AA has confirmed it reached an agreement on the terms of recommended cash acquisition under which Towerbrook Capital Partners and Warburg Pincus International will acquire the business.
Houghton targets £200m GWP in five years as Synova backs Glendinning MBO
Leeds-headquartered JM Glendinning is planning to buy 15 businesses over the next five years after its private equity-backed management buyout, group CEO Nick Houghton told Post.
Fully Comp episode 8: The pros and cons of crowdfunding for insurtechs
Welcome to episode eight of Fully Comp, Post’s video series tackling some of the biggest issues in insurance.
Former Sabre chairman Keith Morris OBE wins Achievement Award at 2020 British Insurance Awards
Former Sabre chairman Keith Morris OBE added his name to the roll call of Achievement Award winners in 2020. Jonathan Swift caught up with his colleagues and listened to what he had to say as he picked up the prize, as well reflecting on the other…
Miller to expand employee ownership after sale
The existing partners of Miller will be reinvesting into the business to keep a “substantial minority ownership” and targeting broader employee ownership as part of the deal that sees the firm switch hands from Willis Towers Watson to Cinven and GIC.
Briefing: Is RSA's sale to an overseas bidder a sign of the UK’s declining stature as a global insurance player?
With RSA poised to be sold to a consortium of a Danish and Canadian investors, the number of internationally recognised UK-domiciled insurers is set to reduce by one. Post content director Jonathan Swift asks: is it time to dust off plans for the Royal…
Briefing: ERS' commercial push - a perfectly timed diversification
With the news that ERS is planning to enter 'specialist commercial' lines, Post content director Jonathan Swift asks if we can get any insights into what that might mean by looking at previous diversification plays, recent appointments and its IT…
Top 100 UK Insurers 2020
The 100 largest UK-regulated insurers reported a combined underwriting profit in 2019, albeit lower than in 2018. Bond yields fell in 2019, however, investment earnings benefited from the strong performance of equity markets. How will the impact of the…
HG to own 20% of Hyperion as investment boosts ‘war chest’ to $1.5bn
When the transaction for HG to invest in Hyperion closes the private equity firm will hold “just over 20%” of the business, CEO David Howden told Post.
Hyperion valued at $5bn as former A-Plan owner HG invests days after sale
Private equity firm HG has invested in Howden-owner Hyperion in a deal that puts a $5bn (£3.9bn) enterprise value on the insurance group.
Two potential bidders pull out of race for AA
Shares in the AA opened more than 17% down this morning as private equity firms Centrebridge Partners Europe and Platinum Equity both confirmed they would not be bidding for the business.