Mergers & acquisitions (M&A)
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.
Howden gets green light for Perkins Slade Forrest takeover
Hyperion-owned Howden UK has completed the acquisition of sports and recreation specialist Perkins Slade Forrest Holdings following shareholder and regulatory approval.
Mitsui confirms £3.47bn Amlin acquisition
Japanese insurer Mitsui Sumitomo Insurance Company has reached an agreement to acquire the entire share capital of London-headquartered Amlin for 670p per share in cash.
County Group eyes further acqusitions following hire of Swinton M&A boss
Former Swinton acquisitions manager Keith Frost has joined The County Group amid plans to support the firm’s appetite to acquire UK based brokers.
Adjuster Woodgate and Clark bought by Dutch firm
Netherlands-based loss adjuster Van Ameyde Group has bought the entire shareholding of UK adjuster Woodgate and Clark.
Markerstudy acquires Birmingham broker Lionheart
Markerstudy has gained approval from the Financial Conduct Authority to acquire Birmingham-based Lionheart Insurance.
Ex-Howden boss Tim Coles joins Nexus as CEO as MGA targets more M&A
Nexus Underwriting Management has unveiled former Howden Broking Group boss Tim Coles as its new CEO.
Editor's Comment: The best is yet to come
The biggest story of the year has run its course, or so many would have us believe, now that Towergate and Arthur J Gallagher have settled their personnel spat out of court, albeit with a £20m price tag, excluding the legal fees already shelled out.
Blog: It is way too early to declare Gallagher or Towergate the £20m winner
It is perhaps an indication of the ‘now-now’ world we live in that so many people were happy to crown either Towergate or Arthur J Gallagher the ‘winner’ last week following the £20m settlement.
Carlyle to acquire Innovation Group at 40p per share
A 40p per share price has been agreed for private equity firm Carlyle to acquire the Innovation Group.
Swiss insurer Helvetia increases profits and records dynamic growth
Helvetia has recorded a "very satisfying business performance" for the first half of 2015, which it claims reflects the successful acquisitions of Nationale Suisse and Basler Austria last year.
Build up to Aviva and Friends Life merger probed by FCA, claims report
The Financial Conduct Authority is investigating the build up to Aviva’s merger with Friends Life and has asked investment bankers involved in the deal to hand over records.
Innovation Group in takeover talks with Carlyle
Software and outsourcing provider Innovation Group is in talks with US firm Carlyle about a potential takeover.