Consolidators
Aon and NFP deal expected to close on or around 25 April
Aon’s $13.4bn (£10.6bn) takeover of NFP is expected to close on or around this Thursday, the global giant has confirmed.
JMG strikes its biggest deal of 2024 with BQI swoop
JMG Group has bought BQI Insurance and sister company BQI Protection.
Ardonagh buys SIB Insurance, boosting presence in North West
Ardonagh Advisory has bought commercial broker Southport Insurance Brokers, building its presence in the North West of England.
Jensten completes on Scrutton Bland deal
Jensten has completed on the acquisition of Scrutton Bland Insurance Brokers following final regulatory approval.
Kingfisher drives further into classic car market with Lynbrook buy
Kingfisher Insurance has bought Lynbrook Insurance to expand its presence in the classic vehicle market.
AssuredPartners expands into Wales with LT Insurance buy
AssuredPartners has added to its UK footprint buying South Wales-based LT Insurance Services.
Clear spending tops £100m in 2023
Clear spent £102.4m snapping up 10 businesses in the year ended 31 October 2023, the most in its history and around double the year before.
Ardonagh completes Westfield Insurance purchase
Ardonagh Advisory has completed its deal for Westfield Insurance having announced plans to buy the broker in December 2023.
Jensten buys hair and beauty specialist Henry Seymour & Co
Jensten has bolstered its schemes offering by buying Henry Seymour & Co, adding 66,000 policyholders to the business.
TBIG ups stake in PHP Insurance to 80%
The Broker Investment Group has increased its investment in Macclesfield-based chartered insurance broker PHP Insurance to 80%.
Ardonagh boosts adjusted Ebitda by a third to $649.6m
Income at Ardonagh rose 29.1% last year to $1.99bn (£1.59bn) on the back of organic growth and 67 acquisitions.
MarshBerry: Deal pricing to stay strong in 2024 but unlikely to go higher
Competition among consolidators supported insurance distribution deal prices in 2023 with ongoing demand likely to keep it robust this year, M&A specialist MarshBerry has calculated.
Deal volume up but M&A value down in 2023, says MarshBerry
The value of UK insurance distribution deals fell to £3.9bn in 2023, down 8% on the year before, despite M&A volume returning to record levels, according to MarshBerry.
Markerstudy gets CMA greenlight to complete £1.2bn Atlanta deal
The Competition & Markets Authority has cleared Markerstudy to pursue its proposed £1.2bn acquisition of Ardonagh-owned personal lines broking arm Atlanta.
Insurance M&A up in 2023 with brokers driving the change
There were 232 insurance mergers and acquisitions in the UK & Ireland last year, with broking and service providers contributing 203 of the total, according to research by FTI consulting.
NFP expands in PMI with Get Medical Plans buy
NFP has purchased Get Medical Plans, a private medical insurance intermediary, with founders Marc Benjamin and Sanjeev Mallipeddi staying to lead and manage the London-based business.
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.
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.
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.
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.
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.
