Mergers & acquisitions (M&A)
Towergate bondholder report puts net borrowing at £896m
Towergate's quarterly report for bondholders has revealed a loss on ordinary activities of £11.39m for the second quarter of 2013.
Lark completes first "significant acquisition" since Groupama MBO
Lark Group has completed its first "significant acquisition" since its management buyout (MBO) from Groupama with the capture of Surrey-based HMT Insurance Brokers.
Towergate confirms capture of Ellis Bates and crane hire business
Towergate Insurance has confirmed the acquisitions of Ellis Bates Insurance Brokers and the crane hire insurance business of Senior Wright Insurance Services.
Alan Boswell Insurance Advisers moves to new Peterborough HQ
Newly-rebranded Alan Boswell Insurance Advisers has moved to a new office in Peterborough.
Profits and revenues rise at Gallaghers
Arthur J Gallagher has reported a group increase in profits to $93.5m [£61.4m] for the second quarter of 2013, from $71.7m in the same period of 2012.
AmTrust strikes £56m deal for Sagicor
AmTrust Financial Services is to buy Sagicor Europe (SEL) and Sagicor at Lloyd's for £56m.
Gallaghers wins race for Giles
Arthur J Gallagher has won the race for Giles, Insurance Age understands.
Markerstudy makes preliminary £123m bid for Brightside
Markerstudy has made a preliminary approach to buy Brightside Group for £123m at 27p a share.
County expects £6m premium leap to £35m after JSW capture
County Group has bought Newcastle-under-Lyme-based commercial broker JSW Insurance.
Raft of senior changes at Willis-acquired Prime Professions
A raft of directorial changes has taken place at Willis' recently-acquired professional indemnity specialist Prime Professions.
Ageas' CEO Andy Watson on taking over from Barry Smith
Ageas CEO Andy Watson has admitted that taking on his current role from predecessor Barry Smith was “a bit of an Alex Ferguson moment”.
CCV confirms hat-trick of broker buys
Towergate-owned CCV has acquired three insurance brokers across the UK.
Direct Group expansion plans underway with 200 new roles created
Direct Group is set to create 200 jobs following a relocation of its head office.
Towergate poised to buy Grant Ellis-owned broker
Towergate is poised to buy Harrogate-based Ellis Bates Insurance Brokers, Insurance Age can reveal.
Barbican buys broker Seacurus
Barbican Group has bought UK-based specialist marine insurance broker Seacurus for an undisclosed sum.
S-Tech expands PI offering with broker buy
S-Tech Insurance Services has acquired professional indemnity (PI) specialist broker Scott Taylor Associates (STA).
Towergate appoints Ryan Brown as group M&A director
Towergate has appointed Ryan Brown from investment bank Keefe Bruyette & Woods as group mergers and acquisitions (M&A) director with an expected start date of early August.
Bluefin moves for Towergate man to drive acquisition strategy
Bluefin has snapped up former Towergate boss Paul Roberts as acquisitions director.
Giles holding company reports £39.5m loss as net debt grows
Expectrum Ltd, the holding company of Giles Insurance Brokers, has reported a £39.5m loss for 2012, compared with a £37.5m loss the previous year.
Barbon CEO Ramsey to depart
Barbon Insurance Group chief executive Mike Ramsey is leaving the company, sister title Postonline has reported.
Towergate bondholder report reveals increasing losses along with acquisition costs
Towergate’s first quarter bondholder report has revealed that losses on ordinary activities worsened to £18.6m in the first three months of 2013 from £14.7m at the start of 2012.
Former Towergate executive joins Ashgrove Insurance
One of the original founders of Towergate, Tony Proverbs, will join the board of Lancashire-based Ashgrove Insurance and holding company Northern Keep.
Markerstudy on verge of four broker buys
Markerstudy Group has signed four non-disclosure agreements (NDA) to buy brokers.
Towergate confirms North Lincolnshire broker captures
Towergate Insurance has swooped for two brokers in North Lincolnshire in a bid to expand its broking footprint in the region.