Mergers & acquisitions (M&A)
Exeter-based broker targets South west with Devon acquistion
Fidelius Insurance Services has acquired Devon-based Ottery Insurance Services for an undisclosed sum.
Fortis completes Kwik Fit aquisition
Fortis Insurance UK has been given regulatory approval from the Financial Services Authority(FSA)for the purchase of Kwik Fit Insurance Services.
Cooper Gay plans to double worldwide binding authorities
Cooper Gay has announced plans to double the number of binding authorities it handles worldwide within three years, following the appointment of James Kininmonth as MD of its underwriting and distribution management (UMD) division.
News review: July 2010
A review of July's industry news.
Broker buying spree continues
Brokers began the second half of 2010 in a flurry of acquisition activity with Bridle Insurance snapping up two buys and further purchases from MRIB and Cullum Capital Ventures (CCV).
New Ink MD Mike Smith looks to acquire Westinsure
Giles-owned Ink Underwriting has made an offer to acquire the entire share capital of South-west broker network, Westinsure.
Anglo Irish planning for Quinn takeover
Anglo Irish Bank is just weeks away from delivering plans to the country’s Financial Regulator for the takeover of Quinn Insurance, according to the Irish Independent.
Private equity house submits revised bid for Brit
The board of Brit Insurance Holdings has confirmed that private equity house Apollo has submitted a revised indicative proposal to acquire the entire issued and to be issued ordinary share capital of the company at a price of £10.75 per share in cash.
News round-up: July/August 2010
A brief round up of news from the secto.
Bridle makes another acquisition
Bridle Insurance has acquired Southampton Insurance Services and Simple Insurance Solutions in a six figure deal.
Fairpoint buys Moneyextra.com for £1
Fairpoint Group has acquired 100% of the share capital of Moneyextra.com in a bid to extend the group from a debt solutions business into a broader-based financial solutions company.
Hill Dickinson confirms Halliwells acquisition
Hill Dickinson has acquired Halliwells’ Liverpool and Sheffield operations.
Bridle Insurance continues on acquisition trail
Bridle Insurance has acquired Leicestershire-based niche personal lines specialist Abbot Insurance for a six figure sum.
News analysis: Fortis snaps up Kwik Fit
Fortis has expanded with the £215m cash purchase of Glasgow-based Kwik Fit - including Express and Green Insurance - from Kwik Fit Financial Services.
The PB interview - Bill Cooper: Bright light in the gloom
Andrew Tjaardstra meets Bill Cooper, managing director for insurance in the financial institutions division at Lloyds TSB Corporate Markets. Despite being cautious about prospects for brokers as the UK's economic malaise continues, the firm is very much…
Marsh restructures Scottish leadership team
Marsh has announced senior appointments to its Scottish national corporate business, which provides risk and insurance advice for mid to large size corporates.
Halliwells files second notice to avoid administration
Halliwells has filed a second notice of intention to appoint an administrator in an effort to extend discussions on the sale of the firm without entering into administration.
MRIB buys J.N. Dobbin
High Wycombe based commercial and high net worth broker MRIB has bought local rival J.N. Dobbin for an undisclosed sum.
CCV buys Newcastle based Bishop Skinner
Cullum Capital Ventures has confirmed the purchase of Newcastle based broker, Bishop Skinner, its fifth acquisition of the year.
Fortis buys Kwik Fit insurance business
Kwik Fit has announced that it has entered into a binding agreement to sell its UK insurance business to Fortis for £215m in cash.
Glacier to be renamed following its acquisition
Torus has today completed the acquisition of Glacier Insurance AG from the Glacier Group.
Flurry of broker buys completed before CGT hikes come into play
A raft of broker acquisitions were completed before the rise in Capital Gains Tax (CGT) came into force.
Henderson secures £4.5m finance facility
Lloyds TSB Corporate Markets has revealed that it provided Henderson Insurance Brokers with a £1m finance facility to aid its acquisition of Leeds-based broker Denny O'Hara.
Knowlden Titlow hires sales and marketing manager
Former Towergate employee Michael Buse has been appointed sales and marketing manager at Norwich-based Knowlden Titlow Insurance Brokers.