Mergers & acquisitions (M&A)
Jensten restructures after £170m fundraise
Following the recent announcement of its £170m in fundraising, Jensten has announced a “strategic reorganisation” with the view “to triple the premium managed” by the MGA business within the next four years.
Hughub enters into administration
Insurance software provider Hughub has been placed into administration due to a lack of funding.
Axa CEO Foley on why another XL-sized deal isn’t on the cards
Axa UK & Ireland CEO Tara Foley won’t rule out another acquisition but said her growth plan for the business is to build plus consolidate everything currently within the multi-line provider.
DLG or Esure – which Peter Wood baby is most likely to bounce back?
Content Director’s View: Direct Line Group and Esure are looking to put recent troubles behind them after less than stellar performances in 2023. With both claiming solid foundations on which to now prosper, Jonathan Swift reflects on the chances either…
WTW’s Read on broker consolidation
View from the Top: John Read, managing director of WTW Networks, explains the role of broker networks in the consolidation cycle.
Admiral completes RSA home and pet deal
Admiral has announced the successful closure of the acquisition that brings in RSA’s home and pet books in a deal worth an initial £82.5m.
RSA’s UK specialty book expected to surpass £1bn by 2030
RSA’s managing director for UK specialty lines, Steve Watson, expects the size of the business he heads to double by the end of the decade primarily through building out new capabilities.
CMA gives Markerstudy/Atlanta merger the green light
The Competition and Markets Authority has cleared the proposed merger of Markerstudy Insurance and Ardonagh’s Atlanta Group following its investigation into the deal.
Allianz sells Premierline to Academy
Academy Insurance Services has reached an agreement to acquire Premierline from Allianz Holdings, as it looks to grow the business’s Ebitda six-fold in five years.
Bspoke acquires Police Mutual personal lines business
Bspoke Group has completed the acquisition of Police Mutual personal lines business less than four years after the mutual was absorbed by Royal London.
Why Ageas buying Direct Line makes sense now
Having been talked about as a takeover target itself in recent years, content director Jonathan Swift observes Ageas’ move for Direct Line marks a change in fortunes for the Belgian insurance group and makes perfect sense in terms of fit and timing.
Direct Line confirms it rejected ‘opportunistic’ Ageas bid
Direct Line has said it received an approach to buy the group from Ageas on 19 January, which it felt “significantly undervalued” the group and its prospects.
Ageas mulls £3.1bn bid for Direct Line
Ageas has confirmed that it is in the “preliminary stages” of considering a £3.1bn bid for Direct Line.
What M&A activity in 2023 indicates for deals in 2024
Data analysis: The number of UK insurance merger and acquisition deals rose from 98 in 2022 to 112 in 2023, but total deal value fell significantly from £5.1bn to £3.3bn year-on-year.
RSA acquisition of NIG to close at start of May
RSA’s acquisition of Direct Line Group’s brokered commercial lines business is set to be completed on 1 May.
Why 2024 could be the year of insurtech consolidation
Data analysis: Francess Stebbing examines whether insurtech start-ups will struggle to find funding in 2024 and be forced to partner-up with traditional providers to achieve scale.
Close Brothers partners with Hedron; Howden buys Laurie Ross; Admiral rebrands Toolbox
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Who is going to snap up insurance brokers in 2024
Age Lindenbergh, leader of the European Alvarez and Marsal’s Transaction Advisory Group, on why consolidation in the UK insurance brokerage market shows no signs of slowing down and where in the world cash is coming from to buy businesses.
Auxillis owner ‘in talks to buy Kindertons’
According to multiple industry sources, conversations are being held for the potential sale of accident management and mobility company Kindertons to Redde Northgate, the parent company of Auxillis.
R&Q shareholders narrowly approve Accredited sale
R&Q shareholders have approved the proposed $465m (£365.6m) sale of Accredited to Onex by a margin of 55.2% to 44.8%.