Mergers & acquisitions (M&A)
GRP backs MBO at Lloyd's broker Ropner
London market consolidator Global Risk Partners has backed its second management buyout in three months after agreeing to support an MBO by Lloyd’s marine broker Ropner Insurance Services.
Duff and Phelps to acquire American Appraisal
Global valuation and corporate finance advisor Duff & Phelps Corporation has agreed to acquire global full-service valuation and fixed asset management advisor American Appraisal.
Audio: Lyons on rival Towergate bids
Towergate interim CEO Alastair Lyons discusses the firm's various former suitors and why the debt-for-equity swap deal with senior creditors was its preferred bid.
Quindell assures market over ongoing sales talks
Insurance outsourcer Quindell has confirmed that talks to sell its legal services arm to Australian law firm Slater & Gordon are ongoing.
Towergate tipped for future sale despite debt-for-equity deal
There is “no question” Towergate will be up for sale once again in the coming years, according to market insiders, who believe the swift appointment of a CEO is paramount following this week’s debt-for-equity deal.
Interview: Stewart Ower: Going with the flow
Chairman of UK Spill Stewart Ower plans to use his tenure to ensure any environmental aspect of a claim is one recognised as early as possible, so proactive intervention can help take control of claims costs
Clark Thomson buys Willis’ Scottish commercial business and joins WCN
Clark Thomson Insurance Brokers has agreed a deal to acquire Willis’ commercial business in Scotland, while also joining the Willis Commercial Network.
Saga shares climb 11% on Bennetts announcement
Over-50s specialist Saga has seen its share price surge by more than 10% in a day’s trading following an announcement that it would pay £26.26m to acquire motorbike broker Bennetts.
Saga buys Bennetts in £26.26m cash deal
Saga is to pay £26.26m in cash to BGL Group to buy specialist broker Bennetts, in a deal that will grow the over-50s insurer's existing motorbike customer base more than ten-fold.
Mid-Sussex broker Bennett Christmas snaps up Howden PI book
Burgess Hill-based broker Bennett Christmas Group has acquired of a book of professional indemnity business from Hyperion Group subsidiary Howden Insurance Brokers.
McManus and Chaucer silent on $300m buyout rumours
Brendan McManus and insurer Chaucer have refused to be drawn on speculation that the former Arthur J Gallagher UK retail CEO will lead a buyout of the insurer's UK motor business, backed by private equity house Apollo.
Quindell confirms Slater & Gordon sales talks
Troubled insurance services provider Quindell has confirmed that it is in talks over disposals with law firm Slater & Gordon.
Miller and Willis reach agreement on wholesale and specialty merger
Miller Insurance Services has reached an agreement with Willis Group Holdings to form a London wholesale specialist broking firm.
Towergate sale enters final furlong as Cullum and Homer fall behind frontrunners
Peter Cullum and Andy Homer's hopes of reacquiring Towergate look set to be dashed as the broker seeks to bring an end to a lengthy sale process.
Hyperion to focus on organic growth as it ‘beds down' acquisitions
Hyperion is to focus on organic growth in 2015 as it concentrates on integrating the 12 acquisitions completed globally in 2014, according to CEO David Howden.
Towergate confirms £1 creditor bid
Towergate has confirmed receipt of a bid from debtholders to buy the embattled broker for its total debts and interest, plus £1.
Alan & Thomas grows regional footprint with purchase of Hampshire broker
Poole-based broker Alan & Thomas Insurance Group has increased the gross written premium it controls to more than £30m following the acquisition of Hampshire intermediary Bennetts Commercial.
Premium Credit snapped up by Cinven for £462m
European private equity firm Cinven is to acquire UK finance provider Premium Credit for £462m.
Notable rate rises unlikely in 2015 despite hardening UK market
The soft UK insurance market has been tipped to harden in 2015, although there is still insufficient “pain” across the industry to spark material rate increases, according to sector commentators.
XL's £2.79bn Catlin takeover confirmed
XL Group's acquisition of Lloyd's heavyweight Catlin has been confirmed in a note to the London Stock Exchange valuing Catlin at £2.79bn.
Helios completes £1m Lloyd’s Nameco buy
Helios Underwriting has formally completed a deal to acquire a Lloyd’s limited liability vehicle, Nameco (No 311).
Howden acquires 49% stake in Malaysian bank's broking business
Hyperion broking subsidiary Howden has entered into a partnership with Malaysia-headquartered South East Asian bank CIMB Group.
Charles Taylor expands claims service to companies market
Energy and marine underwriter Berkley Offshore has become the first non-Lloyd's business to sign up for Charles Taylor's elective claims service.
Chase Templeton acquires broker Best Health
Private medical insurer Chase Templeton has purchased Britsol-based broker Best Heath.