Mergers & acquisitions (M&A)
Brown & Brown Europe to buy Occam Underwriting
Brown & Brown Europe, recently rebranded from Global Risk Partners, has signed up to buy 100% of space and terrorism specialist managing general agent Occam Underwriting.
As UK M&A targets dwindle could team hires offer consolidators a new path to growth?
An ongoing feature of the London market, there are signs team lifts and hires might soon be on the rise in the UK retail space too, writes Saxon East.
Headline makers – September 2023
The hottest stories from 1 to 31 August.
‘Investing in small brokers’ – Clear snaps up Kent property owners’ specialist
Clear Group has snapped up Kent-based broker Miles Archer as its latest acquisition.
Markerstudy deal will deliver steroid like boost to Atlanta, says Donaldson
Ian Donaldson, Ardonagh Retail CEO and inbound Markerstudy Retail CEO, has hailed the proposed merger as being able to boost growth, product footprint and acquisitions but declined to be drawn on any interest in RSA’s personal lines business.
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.
Markerstudy to merge with Atlanta Group in £1.2bn deal
Markerstudy has today confirmed plans to merge with Ardonagh’s personal lines broking business Atlanta Group, in a deal that creates a business that transacts £3bn of GWP annually and employs 7300 people.
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.
Jensten strikes biggest deal to date as its snaps up One Broker
Jensten has made its largest acquisition to date, acquiring East Anglian-based One Broker Group for an undisclosed amount, subject to regulatory approval.
Long time coming: Why the RSA deal for NIG is ‘win-win’ for Intact, DLG and brokers
‘Not In Group’ has been seen as an accurate reading of the acronym NIG for a while now. Jonathan Swift looks at why the long-mooted acquisition target might finally become the ‘Nicely Integrated Gang’ within its new home RSA.
RSA boss Norgrove in broker service promise after NIG deal
RSA CEO Ken Norgrove has vowed to maintain NIG’s high standards of broker service following the acquisition of the SME-specialist provider.
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.
RSA swoops for NIG and FarmWeb in £520m deal
Intact Financial Corporation and its subsidiary RSA have reached an agreement with Direct Line Insurance Group to acquire its brokered commercial lines operations, including NIG and FarmWeb.
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.