Mergers & acquisitions (M&A)
Gallagher to axe Giles brand in May
Arthur J Gallagher is planning to drop the Giles brand in two months, with the Oval name set to disappear further down the line, commercial director Janice Deakin has told Post.
Enstar completes Torus acquisition
Enstar Group has completed the previously announced acquisition of global specialty insurer, Torus Insurance.
Gallagher acquires Oval for £199m
Gallagher has completed a deal to acquire Oval for £199m, with Peter Blanc serving as Gallagher’s new chief executive of UK retail.
Gallagher completes £210m deal for Oval, claims report
The acquisition of Oval by Arthur J Gallagher has been completed with the American firm paying approximately £210m to acquire the Wakefield-based broker, according to reports this morning.
Helios increases underwriting capacity with Bernul acquisition
Helios Underwriting has acquired Lloyd’s limited liability member Bernul for £0.8m.
M&A more attractive than start-ups in Asia, says Towers Watson
According to consultancy Towers Watson regulatory restrictions make insurer acquisitions more attractive than start-ups in Asia.
Specialist MGA appoints Charles Taylor as service provider
Charles Taylor Insurance Services has been appointed to provide services to managing general agency Hunter George & Partners.
Aviva sells Turkish GI business to PE consortium
Aviva has sold its Turkish general insurance business Aviva Sigorta A.Ş, to a private equity consortium led by EMF Capital Partners.
LAS COO Dunworth resigns days after Innovation Group buy
LAS chief operating officer Max Dunworth is to depart the business later this year, Post can reveal.
CMS report highlights surge in warranty and indemnity M&A activity
Warranty and indemnity insurance is becoming a prominent feature of mergers and acquisitions activity in Europe, according to a study conducted by international law firm CMS Cameron McKenna.
Howden to acquire Colombian reinsurance broker
Howden has completed a deal to acquire a Bogota-based reinsurance broker, pending regulatory approval.
Towergate acquires four regional broking operations
Towergate chief executive Mark Hodges has heralded continued “acquisition momentum” in 2014 after agreeing deals to take on four regional broking businesses.
Allianz agrees asset deal with Italian insurer Unipol Sai
Allianz is to buy part of Italian insurer Unipol Sai Assicurazioni’s property and casualty business in a deal worth up to €440m (£367m).
Swinton Commercial acquires Cleethorpes-based consultant
Swinton Commercial has purchased Cleethorpes-based CH Turner Insurance Consultants.
FP Marine buys rival broker in Hong Kong
FP Marine Risks, which is 55% owned by Hyperion, is in advanced negotiations to acquire the assets and staff of Risk Exchange a marine broker also based in Hong Kong.
Bluefin grows sports, commercial units with double purchase
Bluefin has swooped for two brokers, adding to its sports and commercial divisions.
Chase Templeton acquires Health Assist
Medical insurance specialist Chase Templeton has purchased Kenilworth-based business Health Assist.
Mergers & Acquisitions: Buying with Confidence
2013 saw a rise in the number of mergers and acquisitions deals in the general insurance sector. Is this trend likely to continue, and where will firms look to grow their businesses?
Jelf brings Riverside into the fold following acquisition
Jelf Insurance Brokers chief executive Phil Barton has welcomed Purple Partnership member Riverside Insurance Brokers’ decision to “take the next step” and join Jelf following the acquisition of the Kent-based business.
Beaumonts acquires E Farley & Son
Independent broker Beaumonts has acquired Bradford based broker E Farley & Son.
Hiscox announces Direct Asia acquisition
Hiscox has acquired Singapore-headquartered Whittington Group’s online business DirectAsia, subject to regulatory approval.
Henry heads Marsh's Scottish business following Central takeover
takes helm of Marsh in Scotland following Central takeover
Lancashire must convince investors of merits of Cathedral takeover
Bermudian insurer Lancashire must work hard to persuade investors of the merits of its Cathedral acquisition, following a lower than expected dividend pay-out to investors, according to Westhouse Securities.
AJG broadens footprint in Latin America with shareholding in JAO
Arthur J Gallagher has deepened its investment in the Latin American insurance market by purchasing a majority shareholding in Peruvian reinsurance specialist JAO & Partners, in partnership with Mexican broker Grupo CP.