Mergers & acquisitions (M&A)
Principal Insurance buys Kendal-based Marsh broker
Principal Insurance has acquired Marsh's Kendal-based motor broking business with all six staff transferring with the business.
Am Trust to acquire Republic for £153m
Am Trust has reached an agreement to acquire Texas-based property and casualty insurer Republic from its owners Delek Group for $233m (£153m).
R&Q completes IC Insurance purchase
Randall & Quilter has completed its acquisition of IC Insurance for £17m, a London Stock Exchange note has confirmed.
Swiss Re's Admin Re unit buys Guardian Financial Services
Swiss Re’s business unit Admin Re has agreed to acquire closed life insurance fund consolidator Guardian Financial Services from private equity firm Cinven for £1.6bn.
Brit increases US exposure with Ambridge Partners investment
Brit has made a strategic investment in long-time trading partner Ambridge Partners.
Editor's Comment: Avoiding heartbreak
Sometimes the best thing to do is call it all off early on – it is less likely to cause heartache and in many cases it’s the bravest thing to do.
Hester surprised at Zurich deal collapse
RSA group CEO Stephen Hester has confessed his shock at Zurich's decision to break off talks about an acquisition of the company.
Legal market consolidation tipped to continue despite insurers' concerns
Insurers' concerns over declining service levels are unlikely to quell an uptick in mergers and acquisitions activity in the insurance law market, as legal firms battle to obtain market share and establish more sustainable operating margins.
Future bids expected for RSA as Zurich pulls plug on acquisition
RSA's appeal as an acquisition target has not been diminished by Zurich's decision to pull the plug on takeover talks, according to market analysts, who have nevertheless suggested that a future deal is unlikely to take place in the short term.
Bought By Many to harness social media after buying pet insurance broker
UK start-up Bought By Many has acquired 100% of the shares in pet insurance broker Brooks Braithwaite (Sussex).
JLT Employee Benefits to acquire Close Brothers' corporate arm
JLT Employee Benefits has agreed to acquire the corporate business of Close Brothers Asset Management for an undisclosed fee.
Clyde & Co enters Scotland with Simpson & Marwick merger
Law firm Clyde & Co is to establish a Scottish presence through a merger with Simpson & Marwick, effective from 1 October.
Editor's Comment: The era of mega deals
This year’s trend for mega merger and acquisition deals continued last week when Japanese insurer Mitsui Sumitomo agreed a deal to acquire Amlin for £3.47bn – more than twice its tangible book value, subject to approval – while in the broking sector…
Hastings IPO tipped to benefit from recent M&A activity
The timing of Hastings Insurance Group’s initial public offering could attract investors with surplus cash following the recent spate of insurance mergers and acquisitions, according to industry analysts.
London market diversity under the microscope as consolidation continues unabated
The London market is in danger of becoming too consolidated as a result of the current M&A wave, commentators have warned, with market diversity dependent on small start-up businesses emerging in the coming years.
Canopius and Sompo to launch merged reinsurance unit via Lloyd's and Zurich platforms
Canopius Group has formed an integrated business unit to manage the reinsurance business previously written by Canopius and Sompo Japan Nipponkoa Insurance.
Firms vulnerable to takeover by avoiding M&A wave, claims PWC
Insurance industry companies that do not participate in the current wave of merger and acquisition activity are exposing themselves to takeover, according to PWC research.
Highbridge takes majority stake in Price Forbes
Towergate investor Highbridge Principal Strategies is to take a majority stake in Lloyd's broker Price Forbes.
Unipol launches Dublin-based reinsurer
A reinsurer targeting property and casualty business in continental Europe has been launched in Dublin, Ireland, by Italy-based Unipol Sai Assicurazioni in order to capitalise on the rewards for diversification under Solvency II.
Too early to predict redundancies or rebrand following Jelf deal says Weil
Marsh UK and Ireland CEO Mark Weil says it is too early to know what staff changes or rebranding will take place following the global broker's acquisition of Jelf, announced yesterday (10 September).
Marsh and Jelf confirm £258m acquisition
Marsh and Jelf have agreed on the terms of a cash acquisition that will see Marsh acquire the entire issued and to-be-issued share capital of Jelf.
Woodgate and Clark strategy to remain 'exactly the same'
Woodgate and Clark’s style, culture and method will remain "exactly the same" following its acquisition by Dutch loss adjuster Van Ameyde Group, according to managing director Michael Woodgate.
Blog: Do we need a Royal Society for the Protection of British Insurers?
Speaking to someone yesterday they wondered aloud why more noise had not been made about the fact that an increasing number of traditional British insurance brands were potentially on the chopping block.
Thornton Tomasetti expands insurance practice through merger
Building engineering specialist Thornton Tomasetti has merged with Weidlinger Associates boosting its UK insurance property loss consulting practice.