Consolidators
DR&P Group confirms MGA addition in annual results
Private equity-backed broker holding company DR&P Group added a managing general agent to its roster in 2022, buying 80% of MGIC Holdings, the business has confirmed in its annual results.
Opinion: Unlocking broker growth through consolidation
Private equity has a long and successful history of driving success in the insurance sector through consolidation. Inflexion partner and head of financial services Andrea Bertolini shares his thoughts on partnerships between firms and investors.
Kingfisher snaps up Shepherd Compello motorsport book
Kingfisher Insurance has bought the motorsport book of Lloyd’s broker Shepherd Compello.
Aston Lark buys Curtis Marine
Howden-owned Aston Lark has bought Plymouth-based marine insurance broker, Curtis Marine.
Seventeen snaffles AR Mint
Seventeen Group has bought up Mint Insurance Brokers, which has been an appointed representative of its broking subsidiary James Hallam since 2020, and unveiled two further purchases.
Swindle targets doubling Ardonagh UK commercial MGA in three years
Ardonagh’s UK Commercial MGA CEO Jaime Swindle is targeting doubling the size of the business in the next three years taking it into the region of £500m gross written premium.
Verlingue boosts employee benefits division with Brunsdon buy
Verlingue has snapped up Gloucester-based Brunsdon Employee Benefits, extending its sector capabilities in the SME and mid-corporate market.
Ardonagh buys Sorvio to add to Ethos Broking
Ardonagh Advisory has bought Sorvio Insurance Brokers, a commercial broker servicing clients in the South West of England.
GRP enters pet market as it bolsters digital broker Insync with deal
Global Risk Partners has moved into the pet insurance market buying Petsmedicover, trading as VetsMediCover.
Clear Group adds third MGA with Profile Risk Solutions buy
Clear Group has bought specialist commercial lines managing general agent Profile Risk Solutions, trading as Profile Underwriting, adding its third MGA in a month, Insurance Age can reveal.
Lloyd & Whyte confirms 2022 deals spend
Lloyd & Whyte struck six deals in 2022 as turnover grew to £28.4m.
PIB reveals £506m spend in 2022 as revenue hits £345m
PIB Group upped its merger and acquisition spending to £506.2m in 2022, as it snapped up 23 businesses with considerable expansion into Europe.
Aston Lark posts growth and deal costs including for Reich and UKGlobal
Aston Lark grew revenue by 22% to £84.5m in the year to 30 September 2022.
Blog: Is operational efficiency the new battleground for UK consolidators?
It is time to change the record on consolidation from talk of double digit acquisition multiples to evidenced efficiency improvements, argues Andy Fairchild.
Blog: PIB’s Brendan McManus on the future of insurance broking M&A
Fragmentation, low market maturity, employee benefit opportunities and lower pricing make Europe ripe for broking consolidation, according to PIB Group CEO Brendan McManus.
PSC Insurance buys Turner Rawlinson
Australian group PSC Insurance has bought London-based broker Turner Rawlinson, according to filings at Companies House.
Clear buys One Commercial Specialty from Bspoke
Clear Group has continued its push into the managing general agents sector buying One Commercial Specialty from Bspoke.
Stevenson Seacombe Partnership buys 51% of fellow TBIG member Whitefield Insurance
Stevenson Seacombe Partnership has bought a 51% holding in fellow The Broker Investment Group firm member Whitefield Insurance based in Ramsbottom, Lancashire.
Blog: Why is M&A moving to Europe and what does it mean for independent UK brokers?
As UK broker M&A targets become scarcer, smaller players are bound to follow the major consolidators into Europe argues Greg Cant, UK Financial Services Partner at Clearwater International.
GRP’s Greens buys Petherwicks to grow South East coast footprint
Green Insurance Group has bought Brighton-based Petherwick Insurance Brokers for an undisclosed sum adding to Global Risk Partners’ South Eastern hub.
Ardonagh Advisory scores hat-trick of broker buys with AMS Insurance Solutions
Ardonagh Advisory has struck its third broker deal in a week buying AMS Insurance Solutions.
Clear Group in double broker swoop
Clear Group has sealed a pair of broker deals, buying Mayor Broking and MJB Finningley.
GRP buys London-based commercial broker KPTI
Global Risk Partners has bought SB2, the holding company for KPTI, which trades as IS Insurance Solutions.
Ardonagh snaps up Sentinel for Ethos
Ardonagh Advisory has struck its second deal of the week buying self-drive hire specialist Sentinel Insurance Solutions.