Mergers & acquisitions (M&A)
Giles risks shareholder anger with no payout warning
Giles has told the class A and B ordinary shareholders in Expectrum that "there are no proceeds available for any payment" following its acquisition by Arthur J. Gallagher (AJG), Insurance Age can reveal.
TEn lots of thanks for Ed Miliband and David Cameron
It is really irritating when a couple of days before you get around to it, someone else writes the blog you were planning on writing.
Arthur J Gallagher posts improved turnover and profit
Arthur J Gallagher (UK) Limited has reported an increased turnover and profit for 2012.
Insurance Linx completes acquisition of West Midland Brokers
Commercial broker Insurance Linx has bought Hereford-based West Midland Brokers, Insurance Age can reveal.
Taking ownership
Continuity, not consolidation, will help secure a lasting legacy, with employees taking a greater share of the business – but it will need a mindset change, writes James Sharp
AJG’s spending spree continues with double acquisition
Broker is “bigger than Towergate” after eight large acquisitions in three years
Cooper Gay buys Newman Martin and Buchan
Cooper Gay Swett & Crawford (CGSC) has bought independent Lloyd’s insurance and reinsurance broking group Newman Martin and Buchan (NMB).
JLT buys Towers Watson’s reinsurance brokerage business
Jardine Lloyd Thompson Group (JLT) has agreed to pay US$250m (£156m) in cash for Towers Watson’s reinsurance brokerage business.
Brightside Group to replace Holman by year end
Brightside Group has announced it is "seeking to replace" chief executive officer Martyn Holman before the end of the year.
Gallaghers buys Belmont
Arthur J. Gallagher has bought passenger transport specialist Belmont International for an undisclosed sum.
Jubilee and ANV to combine Lloyd's managing agencies
Jubilee and Dutch-headquartered specialty insurer ANV have combined their Lloyd's managing agency operations.
Brightside's Holman mystified by Markerstudy's stance
Brightside chief executive Martyn Holman has described Markerstudy's comments about the broker's capacity flows as "frankly a bit strange".
Brightside rejects revised Markerstudy offer
The board of Brightside has rejected Markerstudy’s revised offer as “fundamentally” undervaluing the broker and has dismissed the need for future takeover talks.
Markerstudy cuts Brightside offer to £100m and calls for clarity
Markerstudy has revealed that it has cut its offer for Brightside from 27p a share to 20-22p per share valuing the company at £100m at most, down from £123m previously.
Sabre snapped up by private equity group BC Partners
Sabre has been bought by BC Partners, according to reports.
Capita ready to sell insurance business
Capita is reportedly preparing to sell its direct to customer insurance businesses.
Kerr Group buys two brokers
Northern Ireland based broker Kerr Group has expanded in the region with two acquisitions, Insurance Age can reveal.
Covéa deputy chairman Fearn to step down after 14 years
Garry Fearn is to step down from his role as executive deputy chairman at Covéa Insurance.
AJG's Deakin dismisses Giles integration challenge
Arthur J Gallagher's (AJG) new commercial director Janice Deakin has insisted that the integration of Giles will not be a "complicated business".
Canopius Group posts improved profit, GWP and COR
Canopius Group has reported a profit of £42m for the first six months of 2013, up almost £10m from the £33m reported in the same period of 2012.
Arthur J Gallagher confirms £233m cash purchase of Giles
Arthur J Gallagher (AJG) has confirmed a cash deal worth £233m for Giles funded through free cash and borrowings on its line of credit.
Nexus completes Torus Executive Risks acquisition with rebrand
Nexus Underwriting Management has taken sole ownership of Torus Executive Risks and re-named it as Nexus Executive Risks (NER).
Ashgrove Insurance buys Manchester-based Lloyd Howard Insurance Services
Ashgrove Insurance has expanded with the purchase of a Manchester-based insurance broker.
Goldman Sachs in talks over major bid for Hastings
An arm of Goldman Sachs is in advanced talks concerning a potential bid for a major stake in Hastings Insurance, according to reports.