Mergers & acquisitions (M&A)
ING offered €1.275bn of funding before insurance IPO
Dutch financial services firm ING Group has secured €1.275bn of funding in its European and Japanese insurance division NN Group from three Asian investors.
Gallagher acquires employee benefits consultancy Shilling
Arthur J Gallagher has acquired Hampshire-based employee benefits communication consultancy Shilling.
Rebranded BLM becomes £100m business following HBM Sayers merger
Berrymans Lace Mawer has rebranded as BLM having formally combined with Scottish firm HBM Sayers to form a £100m business.
Stackhouse Poland acquires Liverpool broker Coulter Hurst
Independent broker Stackhouse Poland has acquired Liverpool-based firm Coulter Hurst & Company.
VRS Vericlaim to buy Ellis May
VRS Vericlaim is to acquire high net worth adjuster Ellis May, taking on 39 new staff in offices in Uxbridge, Leeds and Birmingham.
Ace completes Thai purchase
Ace has completed its acquisition of a 60.9% stake in the general insurance division of Siam Commercial Bank for $190m (4.5bn baht).
Richard Thacker & Company snapped up by Integro
Manchester-based broker Richard Thacker & Company has been acquired by international insurance brokerage and risk management firm Integro for an undisclosed sum.
Aspen spends $3m to spurn Endurance advances
Aspen’s defence against a takeover attempt by Endurance has cost the business $3m (£1.78m), the firm has revealed.
Arista transition to cause 'minimal disruption', vows Nathan
Towergate Underwriting chief executive Clive Nathan has moved to assuage potential concerns the acquisition of Arista will prove disruptive to the commercial managing general agent’s regional trading sites.
Nick Watson to lead Arista following acquisition by Towergate
Towergate has snapped up Arista in a deal that will see the consolidator’s change director Nick Watson appointed chief executive of the newly acquired managing general agent.
Towergate believed to be close to Arista acquisition
Towergate is believed to be closing in on a deal to acquire managing general agent Arista.
Endurance slams 'entrenched' Aspen board after 'poison pill' rights plan
Endurance’s chief financial officer Michael McGuire has accused Aspen’s management of being “entrenched” and “not aligned with shareholder interests” after the firm continued to ward off its attempted takeover.
UK General sells compliance outfit UKGI to Thistle Initiatives
UK General has reached an agreement to sell its compliance consultancy business UK General Insurance to financial services firm Thistle Initiatives.
GRP close to second acquisition as Margrett boosts management team
Global Risk Partners is preparing to unveil its second major acquisition having bolstered its central management team with senior recruits from Towergate and KPMG.
RSA to dispose of Polish and Baltic operations
RSA is selling its businesses in the Baltics and Poland for £300m – a move which will add around £200m to the insurer’s net assets.
Gallagher's Ross eyes 'Ronaldo-type business' signings in personal lines
Arthur J Gallagher’s appointment of Adrian Brown signals a temporary transition from a commercial lines focus to an “adrenaline surge” into the firm’s personal lines offering, according to Gallagher International chief executive David Ross.
SEIB completes Lansdown buy
South Essex Insurance Brokers has completed the purchase of Lansdown Insurance Brokers, retaining partners Ray Gill and Fred Irvine.
Consolidation expected as China relaxes M&A rules
KPMG is predicting an increase in sector consolidation following China’s decision to relax merger and acquisition rules for its insurance industry.
Hodges to build on 'fantastic track record' with future acquisitions
Towergate group chief executive Mark Hodges remains confident in his firm’s ability to acquire businesses in the wake of Arthur J Gallagher snapping up brokers Oval and Giles.
ABI investment arm to merge with IMA
The Association of British Insurers has agreed to merge its investment activities with the Investment Management Association, creating a new trade body.
Chase Templeton snaps up Scottish PMI specialist
Private medical insurance specialist intermediary Chase Templeton has completed its second acquisition within a week with the purchase of specialist Glasgow intermediary Chartered Life.
China to allow more mergers and acquisitions
From 1 June, insurers will be able to acquire insurers operating in the same product line according to the China Insurance Regulatory Commission's website.
Bluefin appoints Acxiom's Higgins as PE head
Bluefin has appointed Jon Higgins as its head of private equity, where he will focus on developing Bluefin’s mergers and acquisitions practice in the private equity and corporate arena.
Chase Templeton acquires Ealing-based SJS Healthcare
Chase Templeton has acquired Ealing-based SJS Healthcare Associates in a deal adding £2m annual premium income to its books.