Consolidators
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.
Greenwood Moreland lands biggest deal since JMG Group-backed MBO
Greenwood Moreland has added to its presence in Scotland with the purchase of Glasgow-based Calcluth & Sangster Insurance Brokers.
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.
Clear buys Heath Crawford & Foster as MVP exits
Clear Group has bought 100% of Heath Crawford & Foster, adding £18m of gross written premium to the growing consolidator.
GRP rebranded to Brown & Brown (Europe)
Global Risk Partners Limited has been rebranded to Brown & Brown (Europe) Limited, a filing at Companies House has confirmed.
Acrisure adds Modus to MGA portfolio
Acrisure has bought Modus Underwriting, its first MGA acquisition of the year.
Brokers warn RSA not to lose NIG’s ‘sparkle’ in takeover as market diversity diminishes
Brokers have expressed their sadness at losing another market, but acknowledged the proposed takeover of NIG by RSA could be superb for both parties – provided the integration is handled properly.
Gallagher snaps up leisure and holiday broker Lifesure Group
Gallagher has gained ‘additional scale’ in the leisure sector following the purchase of a specialist broker.
Castle strikes second deal under GRP with Square Circle buy
Castle Insurance has bought 100% of Square Circle Brokers in its second buy since becoming Global Risk Partners’ North-East hub in May 2022.
Ardonagh completes deal for HNW broker and MGA
Ardonagh Advisory has completed its deal to acquire high net worth broker Stanhope Cooper, and MGA Renovation Underwriting, following an earlier agreement to acquire a majority shareholding in the businesses.
DR&P Group confirms MGA addition in annual results
Private equity-backed broker holding company DR&P Group added a managing general agent to its roster in 2022, buying 80% of MGIC Holdings, the business has confirmed in its annual results.
Opinion: Unlocking broker growth through consolidation
Private equity has a long and successful history of driving success in the insurance sector through consolidation. Inflexion partner and head of financial services Andrea Bertolini shares his thoughts on partnerships between firms and investors.
Kingfisher snaps up Shepherd Compello motorsport book
Kingfisher Insurance has bought the motorsport book of Lloyd’s broker Shepherd Compello.
Aston Lark buys Curtis Marine
Howden-owned Aston Lark has bought Plymouth-based marine insurance broker, Curtis Marine.
Seventeen snaffles AR Mint
Seventeen Group has bought up Mint Insurance Brokers, which has been an appointed representative of its broking subsidiary James Hallam since 2020, and unveiled two further purchases.
Swindle targets doubling Ardonagh UK commercial MGA in three years
Ardonagh’s UK Commercial MGA CEO Jaime Swindle is targeting doubling the size of the business in the next three years taking it into the region of £500m gross written premium.
Verlingue boosts employee benefits division with Brunsdon buy
Verlingue has snapped up Gloucester-based Brunsdon Employee Benefits, extending its sector capabilities in the SME and mid-corporate market.
Ardonagh buys Sorvio to add to Ethos Broking
Ardonagh Advisory has bought Sorvio Insurance Brokers, a commercial broker servicing clients in the South West of England.
GRP enters pet market as it bolsters digital broker Insync with deal
Global Risk Partners has moved into the pet insurance market buying Petsmedicover, trading as VetsMediCover.
Clear Group adds third MGA with Profile Risk Solutions buy
Clear Group has bought specialist commercial lines managing general agent Profile Risk Solutions, trading as Profile Underwriting, adding its third MGA in a month, Insurance Age can reveal.
Lloyd & Whyte confirms 2022 deals spend
Lloyd & Whyte struck six deals in 2022 as turnover grew to £28.4m.
PIB reveals £506m spend in 2022 as revenue hits £345m
PIB Group upped its merger and acquisition spending to £506.2m in 2022, as it snapped up 23 businesses with considerable expansion into Europe.
Aston Lark posts growth and deal costs including for Reich and UKGlobal
Aston Lark grew revenue by 22% to £84.5m in the year to 30 September 2022.
Blog: Is operational efficiency the new battleground for UK consolidators?
It is time to change the record on consolidation from talk of double digit acquisition multiples to evidenced efficiency improvements, argues Andy Fairchild.