Australia
AUB takeover talks end
AUB Group, owner of Tysers, Movo and a shareholder in Momentum, has confirmed the end of sales talks with a consortium of private equity investors in a move that has knocked 17.8% off its share price.
H.W. Wood rebrands to HWS Specialty after sale to Steadfast
London-headquartered specialist wholesale broker H.W. Wood has rebranded to HWS Specialty after being snapped up by Steadfast Group.
Meet the MGA: Aspect
Following its recent brand refresh Oli Williamson, co-founder and chief underwriter, explains how Aspect is seeking to expand its core mid-corporate market offering into new areas such as terrorism and cyber – with an eye very much on how it can leverage…
PIB CEO hails ‘milestone’ as it buys MGA
PIB Group has acquired specialist litigation insurance managing general agent Litica.
AUB reports Momentum and Movo deal costs
Sydney-headquartered AUB Group has revealed the costs of snapping up 40% of appointed representatives network Momentum Broker Solutions and 80% of fellow AR offering Movo Group last year, and promised more deals to come.
Gallagher names ex-Giles boss Lyons specialty CEO as Turner departs
Gallagher has appointed Sarah Lyons, currently CEO of its Australia and Asia business, as CEO of the London-based specialty division, succeeding Jonathan Turner.
QBE hails “excellent” International COR of 88.7%
QBE International grew gross written premium by 11% to $9.84bn (£7.78bn) last year as the combined operating ratio improved.
Allianz UK ‘lucky’ to have Phuong Ly, according to Australian insurance specialists
Australian insurance experts are positive on Allianz Commercial UK’s recent appointment of Phuong Ly telling Insurance Age he is a “great addition”.
Allianz names Phuong Ly as UK commercial lead after Côté departure
Allianz Commercial has appointed Phuong Ly from Allianz Australia as managing director for the UK, starting in the post on 3 April succeeding Nadia Côté who left for RSA last year.
Ardonagh completes PSC buy
Ardonagh has closed the deal for PSC Insurance Group in a move which includes bolstering its advisory business with a Top 100 UK broker.
Major Ardonagh acquisition gets the green light from shareholders
Ardonagh has received approval from PSC shareholders to complete the A$2.3bn (£1.21bn) acquisition of the Australian broking business, with the transaction expected to close around 11 October 2024.
Ecclesiastical grows 11% in half year as UK and Ireland COR tumbles to 84.2%
Ecclesiastical Insurance achieved £18m of underwriting profit on UK and Ireland business in the first half of 2024 as its combined operating ratio improved substantially to 84.2% from 106.6% in the same period of 2023.
Meet the MGA: Criterion
Looking to challenge the status quo when it comes to insuring waste and recycling businesses, underwriting director Stuart Kinsella explains why having no referral parameters and deep expertise in the sector means Criterion is well positioned to make its…
Momentum investor AUB takes 80% stake in Movo Group
Australian broking giant AUB Group has agreed to acquire an 80% equity stake in the Movo Group of Companies.
AUB boss looks to leverage scale as it invests in Momentum
Howard Pepper, founder and managing director of Momentum Broker Solutions, is “excited” by access to the London market through Tysers, after Sydney-based owner AUB signed up to buy a 40% stake in the appointed representatives network.
AUB takes 40% stake in Momentum
Tysers owner AUB Group has signed up to buy a 40% equity stake in appointed representatives network Momentum Broker Solutions, subject to regulatory approval.
Ardonagh strikes A$2.3bn PSC deal
Ardonagh has signed up to buy Australian-headquartered PSC Insurance Group including its Top 100 UK broker.
Former Acromas suitor Open enters UK market with MGA buy
Australian insurtech Open has entered the UK market with the acquisition of gadget specialist So Sure.
PSC confirms takeover talks as consolidators tipped to swoop
Australia-headquartered PSC Insurance, a Top 100 broker in the UK, has confirmed being approached by multiple parties and in talks regarding a possible buyout.
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.
Clive Buesnel exits Tysers following sale to AUB Group
Tysers has announced that Buesnel, who became CEO of the business in June 2020, is set to leave at the end of August.