Private equity (PE)
Editor's comment: Sales, sprinklers and statistics
Any reputable estate agent — excusing the potential oxymoron — will tell you the property market falls quiet in the run-up to Christmas, as potential vendors focus on the festivities ahead. Not so in the insurance market, with an unexpected end-of-year…
As Brit looks to sell UK arm, Simply Business attracts PE interest
Online broker Simply Business is expected to be targeted by a number of private equity houses and insurance firms, following the news that significant shareholder Brit Holdings is looking to sell its UK arm for £150m.
Review of the year - Loss adjusting: Ups and downs
2011 was another rollercoaster ride in the loss adjusting sector, with claims surges, criticism from insurers, struggles with recruitment, and mergers and acquisitions.
Former AA MD Briscoe returns
Former managing director of AA Insurance Services, Andy Briscoe, has returned to the general insurance industry as non-executive chairman at claims management software specialist IT Freedom.
A Plan to open more branches as brokerage breaks £50m barrier
High street personal lines broker A Plan has reported a 19% growth in operating profit for the 12 months ended 28 February 2011 to £19 95m (2010: £16.79m).
Lloyd's insurer Brit appoints Evercore to sell £150m UK arm
Dutch insurance group Brit is looking to close the first round bidding process for its UK retail arm this week, Postonline has learnt.
Stonepoint to reduce interests in Cunningham Lindsey and Lockton
Global claims management group Cunningham Lindsey and broker Lockton International are both looking at options that may see private equity giant Stonepoint Capital divest or reduce its interests in the groups, Post understands.
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.