Mergers & acquisitions (M&A)
CCV acquires four businesses
Cullum Capital Ventures (CCV) has announced the acquisition of four businesses during September, adding over £10m worth of gross written premium (GWP) and bringing its total number of acquisitions so far in 2010 to nine.
Brit recommends buyout deal to shareholders
Brit Insurance has moved a step closer to selling the business after revealing it expects to recommend a buyout offer by Apollo Management and CVC Capital Partners to its shareholders.
Axa withdraws personal lines business from Westinsure
Axa has confirmed that its personal lines intermediary business has exited the Westinsure broker network and that all preferential commission rates for that book have ceased.
Agenda: Do big insurance mergers work?
RSA's unwelcome bid for Aviva raises many issues but the main one is whether mergers between large insurance companies work in the long term.
Lloyd's hopes to boost market share by 'getting out to regions'
Lloyd's new regional manager of UK and Ireland, Keith Stern, has revealed plans to target regional brokers in a bid to boost market share.
Barbon set to expand as comeback proves a success
Managing director of Barbon Insurance Group, Martin Oliver, has said the business was fighting back and had reclaimed a majority of the business it lost in its lettings and commercial property business as Erinaceous Insurance Services.
Jelf creates national business focused on community broking
Jelf's insurance chief executive, Phil Barton, has spoken of the company's future plans after creating a "significant new player" in the market.
Broker poaching: Fishing for business
Poaching will always be popular if the bait is right. Louise Meeson asks whether it's worth taking a risk in an attempt to net a prize catch.
LFC reveals growth plans after buying broker
Essex-based commercial broker LFC Insurance Group has acquired Chelmsford Insurance Centre (CIC) which has £2.25m gross written premium.
Zurich targets mid-sized market
Zurich has announced it is launching a new strategy and product suite for its mid corporate business customers.
Brit planning to recommend offer from Apollo and CVC consortium
Brit Insurance has confirmed receiving a cash offer of £10.75 per share from a consortium formed by Apollo Management and CVC Capital Partners.
NPA acquires commercial insurance broker Noyce Livett
NPA Insurance Broking Group has announced the acquisition of Aylesbury-based Noyce Livett.
Focus - Start-ups: Making your own space
Edward Murray investigates the key considerations involved in establishing a new broker
Viewpoint: Ready your business now for 2011
Mergers and acquisitions is one of the hottest topics of the moment for insurance professionals according to recent independent market research. It is not difficult to see why: in the last year, we have seen evidence of an increasing trend in large-scale…
News review: August
Axa Insurance customer experience director, Paul Meehan, expressed interest in filling the senior management vacancy in the company's commercial division.
Agenda: That elusive crock of gold
The consolidation of the retail broking sector started in 1998 with the creation of Towergate but gathered pace in early 2000 through to 2008. In that period, some £3.6bn of commercial business was acquired, which equates to 25% of the total commercial…
Ink seals Westinsure Group deal for mystery figure
Giles-owned Ink Underwriting Agencies has completed the acquisition of the Westinsure Group for an undisclosed sum.
Potential Aviva sale to shape outlook for composites
The future of the composite model remains uncertain as the industry waits to see if another insurance giant will swoop on Aviva's general insurance arm.
Cobra returns to profit
Cobra Holdings has reported a pre-tax profit of £392,000 for the year ended 31 March 2010, compared to a loss of £23,000 the previous year.
Axa appoints finance head
Waseem Malik has been appointed to the role of finance director at Axa Insurance.
Westinsure members approve Ink takeover
Giles-owned Ink Underwriting Agencies has completed the acquisition of the Westinsure Group for an undisclosed sum.
RSA warned to raise Aviva offer to £8bn
RSA will have to raise its offer for Aviva’s general insurance business by 60% to £8bn to seal the deal, according to a report in the City AM newspaper.
RSA responds to press speculation about Aviva
RSA has confirmed that it put forward a proposal to Aviva to acquire its UK, Canadian and Irish general insurance businesses excluding RAC and Health for £5 billion in cash.
NMJ Insurance buys Protheroe Insurance
NMJ Insurance Brokers has bought Derbyshire-based Protheroe Insurance for an undisclosed fee. The deal for the Belper-based company follows the acquisition of Ridge Insurance in January 2010. It has been acquired from Brian Milward who is retiring from…