Mergers & acquisitions (M&A)
Primary Group buys back UK General
Primary Group has bought back a majority stake in UK General Insurance having sold the business to private equity house JC Flowers in 2017.
McLarens buys Crawford's Lloyd Warwick International
McLarens has acquired oil and energy specialist loss adjuster Lloyd Warwick International, previously majority owned by Crawford & Company.
Mike Bruce ascends to GRP CEO as Searchlight deal completes
Searchlight Capital’s GRP deal has completed, with former group managing director Mike Bruce becoming group CEO of the broker.
Arch names Simon Williams as active underwriter
Arch Insurance International has appointed Simon Williams as active underwriter of Syndicate 1955 and confirmed David Slade as deputy active underwriter after the parent company’s takeover of Barbican.
Royal London to absorb Police Mutual
The Police Mutual Group will become part of life and pensions mutual Royal London, a move driven by a need to bolster its financial position, according to Police Mutual CEO John Perks.
Deal pipeline 'vibrant' as ever says PIB's McManus as Germany buy adds reinsurance to roster
PIB Group has added reinsurance broking to its offering by striking its second deal outside of the UK with the purchase of Munich-based Marx Re-Insurance Brokers.
Nearly 500 people set to lose their jobs at Markerstudy
Markerstudy has opened a “redundancy consultation exercise”, the insurer has confirmed.
Briefing: Insurtech buys incumbent – is Hippo’s deal for Spinnaker a pointer to the future as unicorns spread their wings?
The news today that unicorn insurtech Hippo has entered into an agreement to acquire Spinnaker Insurance - subject to regulatory approval - certainly highlights the continued maturity of the sector.
Analysis: Broker buyers upbeat on M&A rebound
As the coronavirus pandemic hits every aspect of life and business in the country Post investigates what has happened in the broker mergers and acquisitions space and what is likely to come next
Two US law firms investigating WTW over Aon deal
Two US law firms have launched investigations into whether Willis Towers Watson board directors breached their fiduciary duties or violated other laws around the mega-merger with Aon.
Towergate strikes first buys of 2020
Towergate Insurance Brokers has bought the Education Staff Absence insurance book from Integro and snapped up farm insurance specialist Edwards & Swan Insurance Brokers.
Insurance Covid-Cast episode 12: Newsmaker special with Partners& CEO Phil Barton and chair Stuart Reid
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are working from home, we present the latest in a series of newsmaker specials focusing on the people behind the lockdown headlines.
Covéa pulls out of $9bn Partner Re deal
Covéa has scrapped its $9bn (£7.3bn) buy of Bermuda-based global reinsurer Partner Re from the Ferrari-owning Agnelli family’s holding company Exor less than two years after if failed to takeover reinsurer Scor.
Aon prepared to shed up to $1.8bn in revenues to get WTW deal done
Aon agreed to dispose of business and assets up to a cap of $1.8bn (£1.5bn) in 2019 revenues to satisfy competition regulators or else pay a $1bn fee to Willis Towers Watson in order to get its takeover of the rival broker across the line, filings with…
Interview: Partners&'s Barton & Reid
The easy answer to the question “when is a consolidator not a consolidator” is when nobody is being bought. Phil Barton and Stuart Reid spoke to Post senior reporter Emmanuel Kenning about their latest venture Partners&.
Gallagher ‘wide open’ for acquisitions despite pandemic: CEO Pat Gallagher
Gallagher CEO Pat Gallagher has urged brokers “anywhere around the globe” to consider his firm as a merger partner, despite disruption posed by the coronavirus pandemic.
Pandemic has ‘reinforced’ value of Aon/WTW merger: Aon CEO Greg Case
The value of the Aon and Willis Towers Watson merger has “ironically” been reinforced by the impact of the coronavirus pandemic, Aon CEO Greg Case said on Friday.
Barton plans to more than double Partners& headcount to hit five year £50m revenue target
Phil Barton, CEO of newly formed Partners&, has forecast that the business can grow from 140 staff and £65m in gross written premium to 350 people earning £50m of revenue within five years without further buys.
Blog: Aon’s plan to slash pay, preserve dividend leaves a sour taste
Aon will cut the pay of 70% of its staff and slice executive pay packets as it seeks to preserve jobs during the coronavirus pandemic, but the broking giant’s decision to go ahead with a May dividend payment seems at odds with its message.
This week: A whole new world
I'd like to tell you in my spare time this week I've learnt a new language or picked up a new skill but in the true spirit of staying indoors we've mostly been bingeing on Disney Plus, with the Aladdin remake a firm favourite.
Staveley Head buyer to move ‘majority’ of customers to A-rated paper
One Sure Insurance, which has purchased in-administration Staveley Head's intellectual property and renewal rights, will look to place the majority of its new buy’s customers with A-rated insurers.
Ex-Jelf boss Phil Barton to helm PE-backed broker agglomeration
Former Jelf boss Phil Barton is set to return to the market as CEO of Partners &, a private-equity backed broker that brings together five broking houses operating across the South East, South West and Midlands.
Avantia CEO dispels sale rumours
Mark Eastham, Avantia CEO, has dismissed rumours that the company is for sale.
This Month: Covid-19
On the first Friday in April it is hard to remember what the first Friday in March was truly like. To misquote: that past was a foreign country, we did things differently then.