Mergers & acquisitions (M&A)
Quindell picks up 22.5% Nationwide Accident stake
Quindell has inked a deal for a 22.5% stake in Nationwide Accident Repair Services, the UK’s largest dedicated provider of accident repair.
Ironshore unveils new M&A underwriter
Ironshore International has appointed Astrid O’Reilly as M&A underwriter, based in its Singapore offices.
Xchanging acquires US tech company
Xchanging subsidiary Xchanging Inc has acquired Market Maker4, an e-sourcing technology company based in the US, for a potential total consideration of up to $22m (£13.7m), subject to certain performance criteria.
JLT Group to acquire Towers Watson's reinsurance brokerage business
Jardine Lloyd Thompson Group is to acquire the reinsurance brokerage business of Towers Watson for a cash consideration of $250m (£156m).
Belmont and Giles 'will complement each other' claims Deakin
Arthur J Gallagher UK commercial director Janice Deakin expects the transport businesses of brokers Giles and Belmont “to strongly complement each other”.
Strategic importance of M&A to increase
A PWC report has found the strategic importance of mergers and acquisitions to insurers across the globe is set to increase.
Holman to be replaced as Brightside CEO later this year
Brightside chief executive Martyn Holman will be replaced later this year following a review of the board’s composition.
AJG acquires Belmont International
Arthur J Gallagher has acquired passenger transport specialist Belmont International for an undisclosed sum.
Cooper Gay NMB announcement imminent
Cooper Gay hopes to confirm a deal to acquire independent insurance and reinsurance broker Newman Martin Buchan in the ten days.
Brightside chief questions Markerstudy's 'strange' valuation
Brightside's chief executive Martyn Holman has expressed confusion at the change in valuation that scuppered Markerstudy’s bid for the broker.
Post magazine – 11 September 2013
This week's issue of Post is now available to subscribers.
Poor GI results could see Capita sell broker businesses at knock-down price
Analysts doubtful firm could secure private equity backing
Redundancies predicted as Gallagher seeks synergies following Giles deal
Sources expect AJG to reduce number of regional offices to cut costs
Aon seeking buyer for Footman James
Aon-owned classic car and motorcycle broker Footman James is understood to be up for sale, according to sources close to the matter.
Brightside dismisses Markerstudy offer
Brightside directors have said they see no need in proceeding with offer discussions with Markerstudy after the Gibraltar-based motor insurer reduced its offer by at least 5p per share.
Sabre bought by private equity group
Private equity group BC Partners has acquired a controlling stake in Sabre Insurance.
Lancashire shareholders back Cathedral buy
A £266m acquisition of Cathedral Capital looks set to go ahead after shareholders of Lancashire Group voted overwhelmingly in favour of the deal.
Charles Taylor snaps up business solutions provider Knowledge Center
Charles Taylor is seeking a competitive advantage on technology products and processes after acquiring insurance industry business solutions provider Knowledge Center.
Fosun eyes state-owned Portuguese insurer
Chinese conglomerate Fosun which owns the majority of Peak Re reinsurer has been shortlisted as one of five potential buyers of the largest insurer in Portugal.
Gallagher targeting top three UK retail berth after Giles deal
The £223m purchase of Giles by US broker Arthur J Gallagher will convert the latter into one of the UK’s largest regional retail brokers according to UK commercial director Janice Deakin.
Hastings and Co-op plan for future as major investment deals mooted
Hastings’ sale of a stake in the business to Goldman Sachs may herald an era of more aggressive management, according to analysts.
Munich Re buys Renaissance's energy risk management division
Munich Re has agreed to acquire RenaissanceRe’s weather and weather-related energy risk management division RenRe Energy Advisors.
Willis in bid to acquire Towers Watson
Willis is said to be in the race of acquiring Towers Watson’s reinsurance arm, according to reports.
Ashgrove acquires Manchester-based broker
Ashgrove Insurance has bought Manchester-based broker Lloyd Howard Insurance Services.