Mergers & acquisitions (M&A)
BP Marsh: On the hunt for the next Besso
The last year has seen investment firm BP Marsh exit three of its largest investments; Besso, Trireme and the remaining portion of its stake in Hyperion. As a result of the sale, the company had a war chest of £29.9m and a deluge of enquiries from start…
Bennett Christmas merges with Slade Edwards Insurance
Bennett Christmas is merging with Horsham-based Slade Edwards Insurance Brokers as part of its on-going expansion.
Allianz reassures brokers over LV commercial book concerns
Exclusive: Allianz has sought to reassure brokers over concerns regarding renewals of the acquired LV commercial book.
Davies Group acquires Claims Management Services Limited
Davies Group has acquired specialty casualty claims third party administrator, Claims Management Services Limited
UK General's Karen Beales on why MGAs are the 'new black'
Regulators are forcing insurers to make more efficient use of their balance sheets and allocate capital where it can deliver the most effective returns, this allows smaller players in the market the opportunity to fashion insurance packages for special…
Halo partners with new owner Zurich for Australian car hire excess insurance launch
Exclusive: Halo Insurance is to launch in Australia later this year in what will be its first underwriting venture with new owner Zurich.
Charles Taylor acquires Criterion for £13.1m
Charles Taylor has bought specialist loss adjuster Criterion Adjusters for up to £13.1m.
Uncertainty hampering M&A activity, says Clyde and Co
Corporate uncertainty around Brexit and tighter Chinese monetary controls has been hampering M&A activity in global insurance this year according to international legal firm Clyde and Co.
Allianz UK sees drop in profits as COR improves marginally
Allianz UK saw its combined operating ratio marginally improve in H1 2017 despite deteriorating operating profits.
Allianz LV deal precursor to more European activity in UK market, brokers say
Allianz’s purchase of 49% of LV’s GI unit could be a precursor to further UK market activity from European insurers, brokers said.
LV confirms talks with Allianz over GI stake sale
LV has confirmed that it is in discussions with Allianz regarding a potential sale of a significant minority stake in the insurer’s GI operation.
Open GI completes acqusition of Transactor
Open GI has completed its transaction of rival software house Transactor Global Solutions.
Interview: Anthony Baldwin, AIG
Eighteen months into his role, Anthony Baldwin, CEO of AIG Europe and AIG UK, talks to Stephanie Denton about restructuring, co-creating and being the first insurer to move to Luxembourg.
Questgates acquires majority interest in Hyperion Adjusters
Questgates has agreed to acquire a majority interest in London-based Hyperion Adjusters.
JLT to make acquisitions in H2 2017
JLT is likely to make strategic acquisitions in the second half of 2017.
Interview: Karen Beales, UK General
Karen Beales was recently appointed CEO of UK General from her existing role as managing director, following JC Flowers’s acquisition of the company. Post discussed with Beales what the future holds for the managing general agent.
Howden acquires Sterling Knight in Singapore
Howden, the retail broking arm of Hyperion Insurance Group, has bought SME specialist broker Sterling Knight in Singapore for an undisclosed sum.
Broker Network saw revenue rise over 2016
Broker Network saw revenue increase to £10.3m in 2016, up from £8.8m in the previous year.
Beazley's H1 profit up 6% thanks to speciality lines and investment gains
Lloyd's of London insurer Beazley reported a 6% rise in first-half pre-tax profit, thanks to growth in its US specialty lines business and investment gains.
Hannover Re completes acquisition of Lloyd's syndicate
German reinsurance giant Hannover Re has completed the acquisition of the UK holding company Argenta Holdings.
Nexus enters US market with Zon Re deal
Specialty managing general agent Nexus Group has acquired US personal accident treaty reinsurance MGA Zon Re.
PIB acquisition spree continues with Franklands Insurance capture
PIB has acquired Derby and Burton on Trent-based Franklands Insurance and Risk Management.
Nexus acquires Equinox Global
Managing general agent Nexus Group has acquired Equinox Global, a registered and approved Lloyd’s Coverholder, and all other Equinox group companies.
Axis receives regulatory nod for managing agency
Axis Capital Holdings has received final approval from the UK’s regulators and Lloyd’s to launch its own Lloyd’s managing agent.