Mergers & acquisitions (M&A)
Major Ardonagh acquisition gets the green light from shareholders
Ardonagh has received approval from PSC shareholders to complete the A$2.3bn (£1.21bn) acquisition of the Australian broking business, with the transaction expected to close around 11 October 2024.
Montagu agrees to sell Open GI to minority shareholder Ares
Ares Management is set to acquire Open GI, with the deal signed on 9 August 2024, Insurance Age can exclusively reveal.
Das grew 8% with stable COR in 2023 en route Arag deal
Das has posted growing gross written premium to £139.3m in the run-up to being bought by Arag.
Laka buys renewal rights of CoverCloud’s bike portfolio
Insurtech Laka has bought the renewal rights to CoverCloud’s bike portfolio from broker Acumen Insurance Services.
Esure owner Bain eyeing up sale – report
Esure is possibly up for sale, as private equity firm Bain Capital has lined up advisors, according to Reuters.
Markerstudy-bound Hughes posts stable turnover and profit for 2023
Northern Ireland-based broker Hughes, currently in a sales process to Markerstudy Group, maintained post-tax profit at £2m in 2023 with turnover consistent of more than £13m.
Applied Net 24: Commercial lines panel main UK market challenge for software house
Taylor Rhodes, CEO of Applied Systems, claimed the challenge in the UK market is the commercial lines panel from insurers and getting them to broaden their panel placement.
Cinven buys half of Policy Expert
Private equity house Cinven has signed up to buy 50% of Policy Expert from the Abu Dhabi Investment Authority.
Applied Net 24: Applied eyes opportunities for automation
Applied Systems sees opportunities for automation and data use, as its clients number one ask is for more operational efficiencies, chief product officer Anupam Gupta told journalists at Applied Net 24.
Video Q&A: RSA distribution development director Laura Fox
A year on from the NIG acquisition being announced, Laura Fox, distribution development director at RSA spoke to Insurance Age content director Jonathan Swift about the integration process.
Blog: The integration of NIG into RSA – moving towards a unified market presence
A year ago, RSA reached an agreement with Direct Line Group to acquire its brokered commercial lines operations, including NIG and FarmWeb. David Enoch, distribution and proposition director at the insurer, gives an update on the progress since then.
TBIG increases shareholding in Deva to 75%
The Broker Investment Group has increased its shareholding in the Deva Group to 75% from 49%.
Clear buys Accelerate Underwriting
The Clear Group has made its fourth managing general agent acquisition, snapping up Accelerate Underwriting.
SRG adds to MGA offering with Capulus
Specialist Risk Group has purchased Capulus, a specialist motor fleet managing general agent, based in Wales, and will build out SRG's MGA MX which was launched in December 2021.
MGA expands into transactional liability following first acquisition
Rising Edge has signed an agreement to acquire AMANIKI GmbH enabling the MGA to launch a suite of transactional liability insurance products.
Think strikes third buy in three years with Bromwich Insurance Bureau deal
Walsall-headquartered Think Insurance Services has secured its third Midlands-based deal buying Bromwich Insurance Bureau, Insurance Age can reveal.
JMG adds to Yorkshire roots with C P Bennet buy
Leeds-headquartered JMG Group has bought Bridlington-based commercial and personal lines insurance broker C P Bennet.
Specialist Risk Group grows taxi book with latest buy
Specialist Risk Group has acquired the ongoing renewal rights of Morton Insurance Brokers, a specialist in private hire and taxi insurance across the UK since 1987.
Clear makes fourth broker buy of 2024 with South-East swoop
Clear Group has acquired Leatherhead-based insurance broker R T Waters.
“Nobody came close to AUB” – CEO Cheesbrough on Movo’s new investor
The Movo Group is looking to create larger broking hubs and kickstart its directly authorised network Fusion after AUB took an 80% equity stake, according to Lea Cheesbrough, Movo Partnership CEO.
SRG snaps up East Midlands broker
Specialist Risk Group has today unveiled Anthony James Insurance Brokers as its latest acquisition, subject to regulatory approval.
Partners& CEO Barton: Mooted Labour tax plan offers “incredible opportunities” for M&A
Speculation that the new Labour Government might increase capital gains tax has created a fertile window for acquisitive insurance brokers.
Ardonagh Advisory buys R K Henshall
Ardonagh has acquired chartered insurance broker R K Henshall & Co based in Sandbach, Cheshire, subject to regulatory approval.
Momentum investor AUB takes 80% stake in Movo Group
Australian broking giant AUB Group has agreed to acquire an 80% equity stake in the Movo Group of Companies.