Private equity (PE)
Building referral fee costs hitting industry for 'tens of millions of pounds'
Building referral fee costs, which have escalated over the past two years, are “like a cancer” costing the industry “tens of millions of pounds” a year, it has been claimed.
News analysis: Is data mining a major factor in the PI claims spike?
The debate over referral fees has had more press time recently than whether The X Factor is on the wane or not. And just like the blow-by-blow tabloid accounts of the TV show, its judges and its contestants, the insurance industry is starting to get…
Post Blog: Brit and Windsor join RBSI in PE rumour mill
Private equity interest in the UK insurance sector has prompted a week of wild speculation, including an alleged £4bn bid for the insurance operation of part-nationalised bank RBS from PE house CVC.
RBSI bid rumours rubbished
Rumours of a £4bn CVC bid for RBSI are wide of the mark, market sources have told Post.
Broking supplement - Top 25 EC3 Brokers - Analysis: Perennial growth
There have been a few changes at the top – but it has been another year of steady progress for the top 25 EC3 brokers.
Broking supplement - Interview Toby Esser: Expansive thinking
Toby Esser talks about striking serious deals, his acquisitive ambitions and plans to penalise paper-lovers
Two join Towers Watson in Asia
Towers Watson has strengthened its private markets research resources in Asia with the appointment of Richard Tan and Agnes Lee to its Hong Kong office.
Interest from Middle East inevitable due to depressed share prices
The European insurance industry is likely to see an investor from the Middle East take a shareholding in an established brand within six to eight months, according to a regional expert.
Sagicor withdrawal forced by First Central losses
Lloyd’s insurer Sagicor’s decision to quit both property treaty reinsurance and casualty treaty reinsurance was forced by huge losses incurred through its tie-up with Gibraltar-based motor insurer start-up First Central, Post understands.
Pemberton launches €500m private fund
Specialist private equity firm Pemberton Capital Advisors is launching a €500m European Services Fund targeting the financial services and telecommunications sectors in Europe.
Douetil departs in Brit boardroom coup
The consultant advising Brit Insurance on future strategy, Mark Cloutier, is to replace the insurer’s current chief executive Dane Douetil from 27 October.
Davies and Electra to head out on acquisition trail
The bosses responsible for acquiring claims management firm Davies last week, in a £60m deal, have vowed to pursue further growth with a variety of acquisition targets.
BIS 2011: Indebted firms face refinancing battle
Brokers could be facing a “refinancing battle” over the coming years, according to an insurance banking expert who has issued a stark warning to heavily indebted businesses.
Cigna acquires First Assist for £71m
Global health services company Cigna has agreed to acquire travel and protection insurance firm First Assist Insurance Services from Barclays Private Equity.
Broadgate acquisition is last for Torus
The recent acquisition of Broadgate Underwriting by Torus finalises a string of hires and acquisitions by the globetrotting insurer.
News analysis: Private equity and the rules of attraction
Private equity firms continue to be enamoured with the claims industry — just why is this?
MYI and Airclaims merge to enhance position in aviation
Loss adjuster McLarens Young International has merged with Airclaims to enhance its position in the aviation market.
Davies Group profit more than doubles to £3.37m
Claims management firm Davies has announced a 24% leap in turnover to £36.9m for the 12 months ended 31 March 2011 (2010: £29.6m).
A&A seeks CEO before Euro push
Non-standard motor broking specialist A&A Group has outlined ambitious plans to expand its European footprint, ahead of a potential cash injection.
Interview - A&A Group: A constantly evolving company
Starting as a two-man operation in a house in Twickenham, A&A Group has grown exponentially since its humble beginnings. Jonathan Swift talks to Tony Allen and Steve McPherson about keeping pace with changes in the market.
European PE firm makes third financial services acquisition
European private equity firm, Cinven, is to acquire Guardian Financial Services, the UK provider of life and pension products, from Aegon for an enterprise value of £275m.
Garwyn begins another CEO hunt
Private equity-owned specialist liability loss adjuster Garwyn is to appoint a new chief executive officer to replace Stewart McCulloch "in due course," just 13 months after he joined the business.
Giles plans flotation after MBO
Giles Insurance Brokers aims to float on the stock market by 2009, its chief executive said after it completed its £45m private equity-backed management buyout this week.
Davies Group set to sell for more than £60m
Davies Group is expected to be sold for a bid of more than £60m, after its majority shareholder embarked on an auction process.