Bank consortium confirms Erinaceous acquisitions

A business investment company established by banks HBOS, HSBC, and Lloyds TSB has confirmed it has acquired three businesses from The Erinaceous Group, which went into administration last week.

Caley has purchased Erinaceous Insurance Services, together with Residential Management and its subsidiaries, and 3C Asset Management - formerly Erinaceous Property Maintenance - for an undisclosed amount.

In a statement, Caley said it was formed to provide the acquired businesses with long-term stability and a strong financial platform. It said it would be exploring opportunities to further develop synergies between the insurance and residential businesses, and between residential and property

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Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

GIC completes Miller deal

Institutional investor GIC has completed the takeover of Miller, buying out previous co-investor private equity house Cinven.

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