Mergers & acquisitions (M&A)
RSA and NIG brands to become one next year but undecided on name
In an update to brokers on the NIG deal, RSA commercial lines managing director Sonya Bryson explained there will still be two sets of products and systems on 1 May, with all remaining the same in the short term.
Seventeen Group makes third acquisition of the year
Seventeen Group has purchased Watford-based Jannard Quadrant Insurance Brokers, which has a total gross written premium amounting to £3.5m.
Partners& promotes trio as it readies ‘next stage of growth plan’
Partners& has created three new senior leadership roles, as it positions itself for what it describes as “the next stage of its growth plan”.
RSA confirms trading structure ahead of NIG integration
RSA Insurance today confirmed its new regional trading structure ahead of the integration of NIG on 1 May.
PIB continues European expansion with Romanian deal
PIB Group has added Romania to its growing European footprint, by striking a deal with STEIN Bestasig Insurance Broker.
Private equity and broking specialist Kirby joins PIB
Richard Kirby has joined PIB Group as chief transformation and integration officer covering the retail, specialty, underwriting and schemes divisions and all international territories as the group expands.
Ardonagh buys SIB Insurance, boosting presence in North West
Ardonagh Advisory has bought commercial broker Southport Insurance Brokers, building its presence in the North West of England.
Aviva completes on £453m AIG Life deal
Aviva has confirmed that, following receipt of all necessary approvals, it has completed the acquisition of AIG Life UK.
Jensten completes on Scrutton Bland deal
Jensten has completed on the acquisition of Scrutton Bland Insurance Brokers following final regulatory approval.
Asset manager ICG invests in Staysure
Global asset manager ICG has taken a minority stake in travel insurance specialist Staysure.
Kingfisher drives further into classic car market with Lynbrook buy
Kingfisher Insurance has bought Lynbrook Insurance to expand its presence in the classic vehicle market.
Open GI swoops for Hug Hub’s Digital Platform
Open GI has bought Hug Hub’s Digital Platform which offers portal capability for insurance brokers and managing general agents.
AssuredPartners expands into Wales with LT Insurance buy
AssuredPartners has added to its UK footprint buying South Wales-based LT Insurance Services.
Clear spending tops £100m in 2023
Clear spent £102.4m snapping up 10 businesses in the year ended 31 October 2023, the most in its history and around double the year before.
Ardonagh completes Westfield Insurance purchase
Ardonagh Advisory has completed its deal for Westfield Insurance having announced plans to buy the broker in December 2023.
Admiral completes RSA direct home and pet insurance deal
Admiral Group has completed the purchase of RSA direct home and pet insurance renewal rights for £82.5m.
Jensten buys hair and beauty specialist Henry Seymour & Co
Jensten has bolstered its schemes offering by buying Henry Seymour & Co, adding 66,000 policyholders to the business.
TBIG ups stake in PHP Insurance to 80%
The Broker Investment Group has increased its investment in Macclesfield-based chartered insurance broker PHP Insurance to 80%.
GIC completes Miller deal
Institutional investor GIC has completed the takeover of Miller, buying out previous co-investor private equity house Cinven.
Ardonagh boosts adjusted Ebitda by a third to $649.6m
Income at Ardonagh rose 29.1% last year to $1.99bn (£1.59bn) on the back of organic growth and 67 acquisitions.
MarshBerry: Deal pricing to stay strong in 2024 but unlikely to go higher
Competition among consolidators supported insurance distribution deal prices in 2023 with ongoing demand likely to keep it robust this year, M&A specialist MarshBerry has calculated.