Mergers & acquisitions (M&A)
Ageas ends DLG takeover plans after two rejections
After being rebuffed twice, Ageas has ended its pursuit of Direct Line Group, having valued the business at over £3.1bn.
Brunel expands into East Anglia with Liability and General Insurance Brokers buy
Brunel Insurance Brokers has bought the renewal rights to Framlingham-based Liability & General Insurance Brokers.
Clear grows Ebitda by a third
Clear Group grew its Ebitda by 33.4% to £19m, with revenue jumping to £74.7m in the year ended 31 October 2023.
Broker worries bubbling up on Ageas-Direct Line but one hope trumps all
Brokers have raised concerns about the impact on the sector if Ageas snaps up Direct Line but expressed confidence in the potential buyer’s management should a deal come to pass.
Former Acromas suitor Open enters UK market with MGA buy
Australian insurtech Open has entered the UK market with the acquisition of gadget specialist So Sure.
PSC confirms takeover talks as consolidators tipped to swoop
Australia-headquartered PSC Insurance, a Top 100 broker in the UK, has confirmed being approached by multiple parties and in talks regarding a possible buyout.
Direct Line rejects second “unattractive” takeover offer from Ageas
Direct Line Group has rejected a second takeover proposal from Ageas labelling it uncertain, unattractive and highly opportunistic.
Academy pivoting to commercial with five more deals in pipeline, says CEO Normand
Buying Premierline has “dramatically” shifted the balance of Academy’s book from 50% personal lines to two-thirds commercial with the broker targeting 90% in the sector through a people-first string of acquisitions, according to CEO Gilles Normand.
Seventeen makes double buy
Seventeen Group has bought a book of business from Hendricks Insurance in Scotland and snapped up Keith Miller Insurance Services in England in its first purchases of 2024.
Academy strikes deal to buy Premierline from Allianz
Academy Insurance Services has signed up to buy all of Allianz Business Services, trading as Premierline, to become its North-West hub in its first deal since last year’s investment by private equity house Blixt Group.
IWD 2024: Geo’s Jaime Swindle on coaching and mentoring
For International Women’s Day, Insurance Age discussed with Geo Underwriting leader Jaime Swindle how women should embrace their different approach to their male colleagues.
Aon buys in administration Humn.ai’s assets and IP
Aon has bought Humn.ai’s technology assets and intellectual property to strengthen its own commercial fleet proposition, months after the insurtech appointed administrators.
Ardonagh completes more than $5bn refinance
Ardonagh has completed a refinancing process switching over $5bn of debt (£3.9bn) to better terms.
Admiral chair: Defending UK motor advantage remains ‘number one priority’
Admiral is not going to give up its crown as the UK’s leading personal lines insurer to Markerstudy without a fight, its chair has intimated.
TBIG makes fourth major investment of the year
The Broker Investment Group has increased its stake in Callaway & Sons Insurance Consultants, located in Chelmsford, Essex to 100%.
Acrisure’s Russell Scanlan buys construction specialist BLG
Nottingham-headquartered Russell Scanlan has bought Leicester-based Building & Land Guarantees.
Howden buys performing arts broker Hencilla Canworth
Howden has bought Croydon-based Hencilla Canworth GI to boost its sport and entertainment division.
Miller posts record £240m revenue for 2023
Miller hit a record level of £240m in revenue last year, driven by 19% organic growth, the broker has confirmed.
Kingfisher sells travel sector broking arm after product review
Advantage Financial Services, a bond and insurance broker specialising in the travel sector, has acquired Cork, Bays & Fisher from Kingfisher Insurance Services.
Lonmar picks up bloodstock book renewal rights
Lonmar Global Risks, part of Bridge Specialty International, has acquired the renewal rights for a bloodstock portfolio from Norwich-based St Benedicts.
JMG buys Madoc & Rhodes
JM Glendinning Insurance Brokers has purchased Birmingham-based Madoc & Rhodes, adding to its growing portfolio.
Buying or selling an intermediary: Lessons from the front line part 3 – Technology
In the final instalment of a three-part series on broker M&A, Phil Broadbery, a partner and head of PKF’s technology team, examines some of the most common IT and data-related pitfalls that broker leaders should look out for during the acquisition…
Aviva re-enters Lloyd’s with £242m Probitas buy
Aviva has signed up to buy all of Probitas for £242m, signalling a return to the Lloyd’s market.
Analysis: What can brokers expect from RSA’s new-look commercial senior team?
With a new-look senior commercial lines team in place, brokers must hope RSA is done with chopping and changing at the top. Jonathan Swift assesses what the future might hold now dates have been set for the NIG integration.