Mergers & acquisitions (M&A)
Brit to lead US partner to $175m capacity
Brit will help increase capacity at US-based Ambridge Partners to $175m (£120m), with the specialty insurer acting as lead partner to increase Ambridge’s transactional liability facility.
Towergate's Nathan takes on Primary Group role
Former Towergate Underwriting CEO Clive Nathan is to join Primary Group leading its investment in specialist underwriting and distribution across the UK and Europe.
PIB reels in Fish Insurance from Capita
PIB Insurance Brokers has made its first acquisition since The Carlyle Group’s capital injection, with the group buying specialist Fish Insurance from Capita.
Gallagher to snub 'major' deals in 2016 and may raise up to £300m from debt markets
Arthur J Gallagher chairman, president and CEO Patrick Gallagher Junior has today said the firm has no “large deals on its plate” and that any buys would be “tuck in” ones.
Abbey snaps up NI competitor Open and Direct from Swinton
Northern Irish independent intermediary Abbey Insurance Brokers has completed the acquisition of the Open and Direct business from its current owners Swinton Group.
County Group snaps up North Wales broker
The County Group has completed its fourth acquisition in seven months with the purchase of Denbigh-based broker George Williams Insurance Services.
RSG completes purchase of MGA George & Partners
Ryan Specialty Group has acquired specialist managing general agent Hunter George & Partners.
Demand for M&A assets to outweigh supply, survey finds
Competition for attractive insurance industry merger and acquisition targets is set to intensify in the next three years as more than 80% of insurers plan to acquire while only one third plan to divest, a Willis Towers Watson survey has found.
RKH Specialty draws up surety plans following PMG acquisition
Hyperion Insurance Group has acquired independent specialist surety broker PMG Financial Services, subject to regulatory approval.
Cobra eyes further deals following purchase of Croydon broker
Cobra Holdings has acquired Croydon-based independent commercial broker Robert Edward Southern.
Paul Baker to buy fellow park home insurance firm RK Shipman
Newly launched park and leisure home insurance specialist Paul Baker Insurance Services is acquiring fellow park home insurance firm RK Shipman.
Tulloch leads Aviva acquisition in Canada
Aviva's Canadian business has bought RBC General Insurance Company for £281m, a deal led by global general insurance chairman Maurice Tulloch.
Mitsui to complete Amlin takeover next month
Mitsui Sumitomo Insurance Company's £3.47bn acquisition of Amlin is expected to complete on 1 February.
Blog: What happened to the Friends Reuniteds of the insurance .com boom?
We are currently living in an age where digital start-ups are very much in vogue.
PMI consolidator Chase Templeton reveals first 2016 deals
Private medical insurance broker Chase Templeton has completed its first acquisitions of the year, purchasing Health Equity Solutions and Caledonian Health Solutions.
Ace completes Chubb deal predicting $650m savings by 2018
Ace has completed its acquisition of Chubb, adopting the Chubb name and commencing trading today (15 January) on the New York Stock Exchange under the symbol CB.
Blog: Solvency II to fuel further consolidation in 2016
During the last 12 months, insurers have responded to the prevalent commercial, economic and regulatory pressures by stepping up mergers and acquisitions activity, cutting costs and rationalising non-core activities.
Hyperion eschews 2015 dividend as RKH deal fuels £81.4m accounting loss
Hyperion will report an International Financial Reporting Standards accounting loss of £81.4m for 2015 as a result of expenses such as that associated with the acquisition of RKH.
Right Choice buys three breakdown brands from ERS
Right Choice Insurance Brokers has acquired three motor breakdown insurance brands from ERS resulting in the transfer of approximately 150,000 vehicles and customers insuring under the Autonational, Auto Aid and Eurorescue brands.
Principal snaps up second motorcycle book in quick succession
Manchester based Principal Insurance has acquired the motorcycle book of Simply Insurance in a deal that has been completed just days after the acquisition of a similar book from iGO4 Partners.
Acquisition gives Aston Scott its 13th office
Aston Scott has completed its acquisition of Essex-based First Commercial today (8 January)
Covéa confirms completion of Sterling integration
Sterling Insurance is no longer a separate trading entity having formally integrated into Covéa Insurance on 1 January 2016.
Principal buys IGO4's motorcycle book
Principal Insurance has bought Bike Team from IGO4 Partners bringing a book of 5000 bike policyholders to the Manchester-headquartered business.
Ryan Direct Group buys Midas Underwriting
Insurance services business Ryan Direct Group has entered into agreement to acquire Northern Ireland-based managing general agent Midas Underwriting.