Mergers & acquisitions (M&A)
Lycetts returns to profit in 2019
Broker reveals it recently undertook a strategic restructure, creating a single insurance division, and completed a deal for broker Robertson-McIsaac.
GRP-owned County buys CJN Insurance Services
Broker states it has a number of deals in due diligence and expects to add to its portfolio soon.
CMA orders Ardonagh to keep Bennetts separate as deal completes
Ardonagh’s £26m purchase of the motorcycle specialist approved by the FCA, but the ongoing CMA inquiry looking at how the transaction impacts competition in the market continues.
Aston Lark consolidates Lloyd's presence with broker buy
The firm has purchased Incepta for an undisclosed sum.
Abbey and Autoline to merge into single brand
Northern Irish brokers to begin trading as AbbeyAutoline from 1 September
Bennett Christmas buys Sennet Insurance Services
Bennett Christmas is part of the Ethos broker stable and adds the professional indemnity specialist to its portfolio.
WTW and Aon address five lawsuits amid deal transaction
The two broking giants describe the legal actions as “without merit”.
PIB buys Rigton Insurance
Acquisition of Leeds-based broker follows hot on the heels of deals for UKinsuranceNET and Marx Re-Insurance Brokers
Hastings bought by Finnish/South African consortium
The deal values Hastings at around £1.66bn as the provider also publishes half year results.
Co-op hits out at Unite over Markerstudy deal claims
Unite said the deal is a “betrayal” of the Co-op philosophy as trade union predicts 200 jobs at risk once deal goes through.
AA confirms offer talks amid refinancing
The group is meeting with Centerbridge Partners Europe, LLP alongside Towerbrook Capital Partners UK, Platinum Equity Advisors and Warburg Pincus International as it flags £2.65bn of debt.
S&G Risk Solutions buys BLW Insurance Brokers
The deal is S&G's first after it was formed in March 2020 with the aim to support smaller brokers.
In Person: Pen Underwriting CEO Tom Downey
Downey discusses what it was like to take over as CEO just before lockdown, the future for Pen and why Covid-19 could lead to a “Darwinian moment” for the MGA market.
CMA launches official inquiry into Ardonagh’s Bennetts deal
The regulatory body must make a decision on whether to refer the merger for further investigation by 16 September this year.
PIB spent £75.6m on deals in 2019
CFO Ryan Brown says the consolidator has a "very healthy pipeline" of future acquisitions, as PIB's GWP hits £986m.
Direct Line buys start-up broker Brolly
The Brolly team, including founder Phoebe Hugh, is set to move across to Direct Line once the deal is completed.
Jensten Group buys PI broker in second lockdown deal
HTC Associates, based in Derbyshire, brings around £5m in GWP to Jensten.
Ardonagh completes £2bn debt raise and deals for Bravo Group and Arachas
The move, announced in June, brings Broker Network back into the fold as Ardonagh confirms £300m war chest to fund future deals.
PIB buys Stockton-based UKinsuranceNET
Deal is PIB's 30th as the consolidator confirms it has several more in the pipeline.
Covid-19 to boost broker M&A
David Hopwood, of Marsh Networks, predicts the pace of M&A will increase as the UK moves out of lockdown.
WTW calls shareholder meeting on Aon deal
A meeting of Willis Tower Watson shareholders has been called as US Department of Justice calls for more information on the £22.9bn merger.
Jensten to continue M&A pursuit
Simon Taylor, managing director for wholesale, discussed the future of the business as it is announced Bob Darling is set to step down.
Pen Underwriting reveals £1bn GWP target
Exclusive: The Gallagher-owned MGA sets out its new strategy as it unveils plans to grow by acquisition and expand into new product areas.
CMA launches investigation into Ardonagh's Bennetts deal
The government body is seeking comments on the deal in order to decide whether it "may be expected to result in a substantial lessening of competition" in the market.