Private equity (PE)
'Major changes' on horizon for BP Marsh
BP Marsh & Partners has reported a 10.6% increase in net asset value to £55.5m for the year to 31 January 2013 (2012: £50.1m) and net asset value per share of 190p (2012: 171p).
Private equity backers fail in aim to boost targets' productivity, says study
Publicly listed firms that are subject to a private-equity buy-out see their performance fall further behind industry rivals, according to research by three academic institutions.
Equity closing in on "high profile" director amid overhaul of business
The new chief executive of Equity has outlined its plans to strengthen its specialist lines offering within the motor sector as it moves to a broker-only model.
Equity axing 200 jobs in motor focused re-launch
Equity Insurance Group is to cut 200 roles following its acquisition by Jeff Greenberg-led private equity house Aquiline.
Towergate interest payments come down and debt maturity extended to 2018
Towergate Insurance has today announced the completion of its refinancing, following the closing of its bond offering.
View from the Top: The American invasion gathers speed
Private equity investment from the US into London Market brokers is seemingly in vogue in 2013, with a considerable amount of new capital entering the market.
Towergate CEO Hodges hails new "flexible debt structure" after £396m bond issue
Towergate has announced the pricing of the offering by its subsidiary, Towergate Finance, of floating rate senior secured notes due 2018 in an aggregate principal amount of £396m.
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.
Davies and GAB Robins – a tale of two loss adjusters: The Claims Club monthly missive
It was somewhat inevitable that two claims firms inextricably linked by the tittle-tattle in the loss adjusting village should make important announcements that will shape their futures.
Facebook backer provides Hyperion ‘vital stepping stone’ towards IPO
An initial public offering is firmly back on the agenda at Hyperion after it struck a deal that sees public company investment specialist General Atlantic take a 30% stake in the international intermediary.
Hyperion boss eyes further growth in Asia as GA comes aboard
Hyperion chief executive David Howden is hoping investment and expertise available at new shareholder General Atlantic will provide his firm with a springboard for further growth in emerging Asian markets.
BP Marsh eyes new investments after Hyperion sale
BP Marsh will reinvest the £29.2m obtained from the sale of 80% of its Hyperion stake in new or existing ventures.
Is claims sector set for investment and M&A surge following latest LDC move?
Speculation is mounting that the claims market is ripe for further private equity investment and mergers after motor claims specialist Validus IVC completed a management buyout with backing from Lloyds Development Capital valuing the firm at £30m.
General Atlantic acquires close to 30% of Hyperion shares
The Hyperion Insurance Group has signed an initial agreement with General Atlantic, which will see the global growth equity firm acquire just over 30% the international broking business' shares.
Truell among bidders linked to Co-op sale
Mark Summerfield, managing director of The Co-operative Insurance, has said the planned sale of the general insurance business is “entirely in line with the group’s strategy” to build a “compelling competitor in high street banking that customers will…
Success of Esure float boils down to accurate pricing in current market
Esure could err on the side of caution when it comes to pricing its stock as it aims to follow Direct Line Group onto the London Stock Exchange, analysts have suggested. The personal lines insurer confirmed plans to float as it revealed its 2011 result.
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.
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 IPO back on agenda following BP Marsh talks
Hyperion could be gearing up for a flotation before the end of the year, according to analysts.
3i rumoured to be planning sale of Hyperion stake
Private equity firm 3i has refused to comment on fresh speculation that it is ready to sell its 23% stake in Hyperion.
View from the Top: London looking for leadership
Independent brokers in the capital must adapt to survive the US-led private equity feeding frenzy, says Toby Esser.
Cooper Gay completes Lightyear deal
Cooper Gay Swett & Crawford has confirmed that its investment agreement with Lightyear Capital has completed.
Aquiline boosts Lloyd's foothold with cut-price acquisition of Equity Red Star
Aquiline Capital Partners' acquisition of Equity Red Star for £87m – a far cry from the £570m IAG paid for Equity Insurance Group in 2006 – marks the New York-based firm's latest foray into the Lloyd's market.
IAG confirms Equity Red Star sale ahead of huge predicted losses
Insurance Australia Group has confirmed the sale of its UK business to Aquiline Capital Partners, following the completion of a strategic review in which the firm predicted net losses of £156m after tax.