Mergers & acquisitions (M&A)
Editor's letter: Howden has a plan, but that does not involve ‘A-Plan’
Another long-standing insurance brand has disappeared from the high street.
Brown & Brown buys Berkeley Insurance
Brown & Brown, has acquired 100% of the share capital of Berkeley Insurance, one of the UK’s largest independent insurance brokers.
Partners& boosts turnover by 54% and cuts operating loss by nearly two-thirds
Partners& grew its turnover by 54% to £34m in the last financial year and reduced its operating loss by over £8.5m, Insurance Age can reveal.
PIB buys RBIG
PIB Group has bought Manchester based commercial broker RBIG including RBIG Corporate Risk Services and RBIG Financial Services.
Ripe grew turnover 17% in 2022
Insurtech Ripe grew turnover by 17% in 2022 to £27.2m as policy count also rose in the year.
Ten Insurance swings back to profit in 2022 before Acrisure sale
Appointed representatives network Ten Insurance Services swung back to a post-tax profit of £305,789 in 2022, reversing a loss of £101,425 in 2021.
Think Insurance buys Ashby Wray
Think Insurance Services, a specialist motor broker based in the West Midlands, has struck its second deal buying Ashby Wray Insurance Brokers.
Rebranded GRP reveals loss and deal spend for takeover year
Global Risk Partners, now known as Brown & Brown Europe, spent £150m on 18 deals in the past nine months of 2022 as the sale of the consolidator completed, according to a filing at Companies House.
‘Extremely disappointed’ Alec Finch to appeal judge’s fraud verdict and damages
Alec Finch said he was ‘extremely disappointed’ and would appeal the judge’s verdict that favoured Toby Esser and his team, who claimed fraud took place when they were sold the AFL broker.
Partners& takes on Hall Insurance Services
Partners& has expanded in the South East with London-based Hall Insurance Services.
Ex-AFL owners Bob and Alec Finch guilty of fraud in broker sale
Former AFL owners Bob and Alec Finch committed fraud by misrepresenting their financials in the sale of their business, a High Court judge has ruled.
Saga pauses sale of insurance arm Acromas as broking profits slip
Saga has decided to “pause” the sale of its underwriting business Acromas Insurance, the over-50s specialist has confirmed.
Clear completes hat-trick buying Bluestone in Cirencester
Clear Group swooped for its third deal in September buying Bluestone Insurance Services to boost its presence in the South West.
Aviva boosts UK SME and HNW proposition with £460m AIG Life swoop
Aviva has bought AIG Life from Corebridge Financial, a quoted subsidiary of American International Group, for £460m.
MGA Iprism notches up second post-MBO buy with SK deal
Managing general agent Iprism has bought property specialist SK Underwriting for an undisclosed fee.
Interview: Mike Latham, Verlingue UK
Verlingue is a French broker that took off in the aftermath of the Second World War. Following publication of its latest financial results, UK CEO Mike Latham explains why the family-owned business is a steady generational business that has clear and…
SRG reveals Hamilton Leigh cost as turnover grows 21% in 2022
Specialist Risk Investments’ bill for buying motor trade specialist Hamilton Leigh in 2022 totalled £11.52m, according to a filing at Companies House.
Ripe Thinking notches up first buy with boat insurance specialist
Insurtech broker Ripe has completed its first acquisition by snapping up specialist boat insurance provider, Craftinsure.
Brown & Brown Europe to buy Occam Underwriting
Brown & Brown Europe, recently rebranded from Global Risk Partners, has signed up to buy 100% of space and terrorism specialist managing general agent Occam Underwriting.
As UK M&A targets dwindle could team hires offer consolidators a new path to growth?
An ongoing feature of the London market, there are signs team lifts and hires might soon be on the rise in the UK retail space too, writes Saxon East.
Headline makers – September 2023
The hottest stories from 1 to 31 August.
‘Investing in small brokers’ – Clear snaps up Kent property owners’ specialist
Clear Group has snapped up Kent-based broker Miles Archer as its latest acquisition.
Markerstudy deal will deliver steroid like boost to Atlanta, says Donaldson
Ian Donaldson, Ardonagh Retail CEO and inbound Markerstudy Retail CEO, has hailed the proposed merger as being able to boost growth, product footprint and acquisitions but declined to be drawn on any interest in RSA’s personal lines business.
With Atlanta sold, what will Ardonagh do with the funds it pockets?
Jonathan Swift looks at Ardonagh’s recent growth, and suspects that a larger percentage of the £820m windfall from the Atlanta sale is going to be spent overseas rather than at home.