Mergers & acquisitions (M&A)
Allianz puts Home & Legacy up for sale
Allianz is exploring options for Home & Legacy which could include a sale with high net worth not being seen as a core strategy for the current owners, Insurance Age can reveal.
Acrisure lifts the lid on network rollout and broker buying plans
Acrisure is forming a network and its application to the Financial Conduct Authority is “going in now”, president of UK retail Mark McIlquham, has revealed.
30 minutes with: Ardonagh's Rob Worrell
Rob Worrell joined Ardonagh Advisory – which includes Towergate, Ethos Broking and the networks business – in 2017. Insurance Age caught up with him to find out what has changed for the £4bn GWP broker
GRP buys Durham-based Castle Insurance Services
Global Risk Partners has bought 100% of the share capital of Castle Insurance Services as the consolidator targets growing its presence in the North East.
DR&P buys Channing Lucas & Partners
DR&P Group bought a 90% stake in Lloyd’s broker Channing Lucas & Partners late last year, according to a filing at Companies House.
Carlyle funds buy NSM in £1.44bn deal
White Mountains Insurance Group has signed a definitive agreement to sell NSM Insurance Group to investment funds affiliated with global investment firm Carlyle the former majority backers of PIB Group.
Clegg Gifford buys ARs to expand branch network
Markerstudy-bound Lloyd’s broker Clegg Gifford is targeting a branch network of 30 and is buying up its current appointed representatives, Insurance Age can reveal.
AUB Group to purchase Tysers for £500m
The Lloyd’s wholesale broker has entered a binding agreement to be bought by AUB.
Brokerring takes stake in accounts firm
Ataraxia and Brokerbility founder, Stuart Randall, explained that the advisory business has developed since it was set up last year to support independent brokers.
GS Group buys Dundee-based Strathtay
Family run business, Strathtay Insurance Brokers, has been bought by Perth-headquartered GS Group.
Dave Clapp sets £250m three-year target for MVP and Ataraxia
Dave Clapp, CEO of Minority Venture Partners and Ataraxia, has unveiled a £250m gross written premium target for the broker investment group over the next three years.
Think targeting £30m GWP within three years
Think Insurance is currently looking at two more broker buys and has set a target of £30m gross written premium by 2025, commercial director Russell Bence told Insurance Age.
Landmark Underwriting makes two buys
Landmark Underwriting has revealed its first two deals after raising debt financing through SME lender BOOST&Co.
Seventeen Group buys Torbay Insurance Services
Seventeen Group has added Torbay Insurance Services to its portfolio for an undisclosed sum in a move that completed at the end of April.
MUM reveals growth post Pen takeover
Manchester Underwriting Management has grown to just south of £70m gross written premium since being bought by Gallagher-owned Pen Underwriting, CEO Charles Manchester told Insurance Age.
Aston Lark buys UKGlobal
Aston Lark has bought UKGlobal Broking Group marking the consolidator’s 50th buy since being formed in 2018.
Premium Credit bought by Towerbrook Capital Partners
TowerBrook Capital Partners, a London and New York-based international investment firm, has agreed to buy Premium Credit from Cinven.
Markerstudy completes BGL Insurance takeover
Markerstudy Group has completed the purchase of BGL Insurance announcing that regulatory approval for change of control was received in April.
The Irish broker market: Consolidation and compliance
David Worsfold visits the Emerald Isle to learn more about how the broker market is developing and asks if the next wave of consolidation will be an Irish one
Matson flags M&A as key to Gallagher growth strategy
Gallagher's UK business has reported 14% organic growth in Q1 2022 with EMEA CEO Simon Matson highlighting “advanced” deal discussions with a number of firms.
Profit and turnover up at One Broker as firm eyes acquisitions
One Broker has posted a 21.2% rise in Ebitda to £2.15m in its latest set of annual results driven by schemes success.
Lloyd & Whyte grows revenue in 2021
The holding company of Lloyd & Whyte has reported a 22.2% increase in turnover in 2021 as acquisitions boosted the total to £23.4m.
GRP’s County Group buys again in Wales
Global Risk Partners-owned County Group has bought 100% of the share capital of Archenfield Insurance Management in Wales.
Mason Owen Financial Services completes MBO from parent company
Commercial property agency Mason Owen & Partners has sold its majority shareholding in broking arm Mason Owen Financial Services and its subsidiary companies to the current management team led by managing director Andrew Gibbons.