Private equity (PE)
SRG builds out MGA arm MX with fourth buy of 2024
Specialist Risk Group has announced the acquisition of reinsurance firm NW Re.
News analysis: If PIB has reached an end game with Carlyle and Apax, what next?
As speculation mounts that PIB’s backers Carlyle and Apax want to cash in on their investments, content director Jonathan Swift explores how the broker’s strategy of overseas hubs and specialisms might dictate its value to new investors.
Warburg Pincus and Temasek complete SRG investment
Specialist Risk Group has confirmed the takeover by private equity house Warburg Pincus and Singapore-headquartered investor Temasek has completed after receiving all regulatory approvals.
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.
Academy turnover dipped in run-up to Blixt buy
Academy Insurance Services’ turnover and profitability fell in the run-up to being bought by private equity house Blixt, according to a filing at Companies House.
Astorg takes majority stake in Acturis
European private equity firm Astorg has boosted its investment in Acturis to over the 50% threshold.
NSM to buy AllClear owner
NSM Insurance has signed up to buy InsurEvo Group, including AllClear Insurance, InsureandGo and JustCover, from Synova.
SRG looking east for expansion with new backers
Specialist Risk Group is eyeing up buying in Europe and Asia, CEO Warren Downey has confirmed to Insurance Age.
GIC completes Miller deal
Institutional investor GIC has completed the takeover of Miller, buying out previous co-investor private equity house Cinven.
Academy strikes deal to buy Premierline from Allianz
Academy Insurance Services has signed up to buy all of Allianz Business Services, trading as Premierline, to become its North-West hub in its first deal since last year’s investment by private equity house Blixt Group.
Ardonagh completes more than $5bn refinance
Ardonagh has completed a refinancing process switching over $5bn of debt (£3.9bn) to better terms.
Miller posts record £240m revenue for 2023
Miller hit a record level of £240m in revenue last year, driven by 19% organic growth, the broker has confirmed.
Lloyds Banks’ LDC takes stake in Uinsure
LDC, the private equity arm of Lloyds Banking Group, has invested in Top 100 Broker Uinsure.
Ardonagh in $2bn bond deal – Bloomberg
Ardonagh is launching a near-$2bn (£1.59bn) bond sale in a process led by Morgan Stanley and Goldman Sachs, according to Bloomberg.
Interactive insurance broker UK M&A Map 2024
In 2023, Insurance Age reported on 114 UK broker deals with Brown & Brown Europe leading the way with 21.
The American consolidators are not done yet
Recent years have been notable for the amount of consolidation led by US-based insurance brokers. Ida Axling looks at whether these players are likely to continue doing deals at the same rate and what is driving these buying sprees.
JMG adds £100m of deal firepower
JMG Group has raised an additional £100m of committed acquisition facilities from existing lender, Ares Management, Insurance Age can reveal.
Aon to buy NFP from Ardonagh investors MDP and HPS for £10.6bn
Aon has agreed to acquire rival US broking firm NFP for a total consideration estimated to be $13.4bn (£10.6bn).
GIC buys out Cinven’s shareholding in Miller
Cinven, the international private equity firm, has reached an agreement for GIC to acquire its shares in insurance broker Miller.
Blog: Private equity investment - what’s in it for insurance brokers?
There are compelling reasons to consider private equity funding, both in good times and in the current testing climate. Claire Madden, managing partner at Connection Capital, outlines why brokers should ignore PE’s bad press to understand its benefits.
Broking M&A specialist Imas acquired by global advisory firm
MarshBerry, a global M&A advisory firm for insurance brokers and wealth management firms, has acquired Imas Corporate Finance.
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.
Markerstudy CEO Spencer targeting Admiral’s crown as UK’s top PL player after Atlanta deal
Markerstudy is only £301m of gross written premium away from potentially overtaking Admiral as the UK’s largest personal lines player after the £1.2bn Atlanta deal last week, according to its CEO Kevin Spencer.
Markerstudy to merge with Atlanta Group in £1.2bn deal
Markerstudy has today confirmed plans to merge with Ardonagh’s personal lines broking business Atlanta Group, in a deal that creates a business that transacts £3bn of GWP annually and employs 7300 people.