Brit shares up 20% following private equity approach
Brit Insurance's shares have shot up in value in the first two and a half hours of trading this morning to 881 pence.
This marked a 20.85% rise on the price at the close of trading yesterday when they were valued at 729 pence.
The movement follows last night's announcement that the group had received an unsolicited indicative proposal from a private equity group regarding a potential cash offer for the group. Reports claim PE firm Apollo was behind the bid. Brit's previous high was 820.5 pence on 12 April.
Joy Ferneyhough, analyst at Execution Noble, said: "We welcome the interest in the sector given our
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
End of Year Review 2025: Bspoke’s Craig Morgan
Craig Morgan, managing director of Bspoke Sports & Leisure, echoes the concerns of others over the speed the market has softened; hails the work of Ajay Mistry in championing transparency and diversity; and shares a giant darts nickname.
FCA commits to expanded work in response to Which? super-complaint
The Financial Conduct Authority has promised to do more work on improving claims handling and consumer understanding of cover in light of Which? hitting the watchdog with a super-complaint about the ‘broken’ home and travel insurance markets.
End of Year Review 2025: Allianz Personal’s Graham Wright
Graham Wright, managing director – broker (interim) at Allianz Personal, acknowledges customers have benefited from the soft market, muses about whether consolidation has suppressed new entrants and keeps his cards close to his chest over the insurer’s plans for 2026.
Mindful placement in a soft market – why discipline still matters
Soft markets demand sharper thinking to avoid a false sense of security and complacency, argues John Dunn, managing director of distribution and market management at The Clear Group and Brokerbility.
Esure CEO Martin-Simon to depart as Ageas unveils new direct MD
Ageas UK has announced that the Esure CEO Peter Martin-Simon is to leave the company in April next year six months after taking up the role.
End of Year Review 2025: SiriusPoint International’s Rob Gibbs
Rob Gibbs, president and CEO of SiriusPoint International, highlights its success in rejecting the ‘spread betting’ approach to MGAs and instead partnering with ones that are really moving the dial; and suggests ‘Another soft market: Are we all delulu?’ as the theme for Biba 2026.
AIG adds Clifford after Neal U-turn
American International Group has appointed Adam Clifford as CEO of international commercial insurance as he rejoins the insurer in the latest leadership development since the recruitment of John Neal was called off.
End of Year Review 2025: Direct Commercial’s Joe Hantson
Joe Hantson, deputy CEO at Direct Commercial Limited, notes the amount of senior underwriting talent moving from traditional carriers into MGA models over the last 12 months and expects more consolidation among MGAs and insurtechs in 2026.