Mergers & acquisitions (M&A)
Editor's comment: M&A activity is steady, with some green shoots
This year has seen only a steady drip of merger and acquisition activity, rather than a flurry, something that was noted by Pricewaterhouse Coopers in its European Financial Services M&A Insight published yesterday.
BMS sets growth strategy of doubling in size by 2015
London market broker BMS is set to make a number of acquisitions and team hires as part of plans to double its business by 2015.
US giant Gallaghers unveils second UK swoop in months
US broking giant Arthur J Gallagher has announced the acquisition of London-based Risk & Reward Group. Terms of the transaction were not disclosed.
Axa extends deal deadline
Axa Asia Pacific Holdings and National Australia Bank have today agreed to extend until 15 July an agreement relating to the conclusion of a proposed transaction between the parties.
Capita swoops for £60m Premier Medical
The Capita Group has acquired Premier Medical Group for a cash consideration of £60m on a cash-free, debt-free basis.
Acquisitive broker makes another four buys
Acquisitive Invicta Insurance Services has added four more buys to its portfolio.
Prudential faces ‘no’ votes over AIA deal
F&C Investments and Cavendish Asset Management, two investors in the insurer Prudential, have both indicated they are to vote ‘no’ on the firm’s proposed acquisition of AIG’s Asian arm, AIA
Prudential confirms talks to renegotiate AIA deal
Prudential said it was trying to negotiate a cut in the $35.5bn it has agreed to pay for AIG's Asian unit, AIA, amid fears its shareholders might block the deal as too expensive.
Aviva hires M&A director from Morgan Stanley
Aviva has appointed Jason Windsor as group strategy director, responsible for leading the strategy and M&A teams at Aviva.
Aviva hires M&A director from Morgan Stanley
Aviva has appointed Jason Windsor as group strategy director, responsible for leading the strategy and M&A teams at Aviva.
Lloyd's insurer closes in on KGM
The largest privately owned Lloyd's insurer Canopius has emerged as a leading contender to acquire up-for-sale motor underwriter KGM.
Lloyd’s insurer closes in on KGM acquisition as it looks to diversify book
The largest privately owned Lloyd's insurer Canopius has emerged as a leading contender to acquire up-for-sale motor underwriter KGM.
PWC predicts M&A to pick up in Spanish financial services market
The rescue of CajaSur is likely to spark a wave of mergers in the Spanish financial services market as the Spanish Government pushes forward with its plans to merge those institutions to strengthen the market.
More analysts warn on Prudential’s AIA deal
A chorus of opposition is growing against Prudential's $35.5bn takeover of AIA, with analysts from Singapore to London flagging risks to the deal just weeks ahead of the critical shareholder vote, according to newswire Reuters.
Alterra insurance chief to retire
Alterra Capital has announced that Angelo Guagliano, president and CEO of Alterra Insurance, will retire at the end of May.
Giles takes over Hampden
Giles Insurance Brokers has acquired the retail broking division of James Hampden Insurance Brokers.
UK actuary bodies confirm merger
Members of the Faculty of Actuaries in Scotland and the Institute of Actuaries have voted in favour of resolutions to merge the two organisations to form the Institute and Faculty of Actuaries.
Giles Insurance Brokers in Midlands swoop
Giles Insurance Brokers has acquired the retail broking division of James Hampden Insurance Brokers.
AIA acquisition includes Thai bond risk
Prudential will take on $7.37bn of Thai sovereign debt in a deal to buy AIG’s Asian unit, according to a regulatory filing.
Clear opens City office after F&L acquisition
Clear Insurance Management has opened a new office in the City of London as part of its growth plans.
Reinsurers being pushed into M&A – Becker
Marty Becker, chief executive officer of Alterra Capital, said reinsurers are pushed to consider mergers and acquisitions by clients and investors, who prefer carriers with larger capital bases.
Finance raising - IPOS: Lack of activity
Marsh recently predicted an increase in initial public offerings. Amy Ellis looks at what is actually happening and the impact on the wider insurance community.
Questgates completion
Questgates has completed the final stage of its acquisitions from Teceris, announced on 11 February this year.
Bluefin buys GM book
Bluefin has acquired the general insurance business of Peterborough-based GM Towns & Partners for an undisclosed sum.