Mergers & acquisitions (M&A)
Direct Line accepts Aviva’s £3.7bn takeover offer
Direct Line has accepted Aviva’s improved offer to takeover the company this morning in a deal one analyst has described as a "bold move that could turn out to be a gift that keeps on giving".
BMS completes David Roberts & Partners buy
BMS Group has finalised the acquisition of David Roberts & Partners, after it was announced in earlier this year.
Aviva-target DLG launches on Compare the Market
Aviva takeover target Direct Line Group has launched three new branded motor insurance products on Compare the Market, marking its entry on to price comparison websites.
Review of the Year 2024: Axa UK’s Paul Tombs and Matt Field
The Axa UK duo of Paul Tombs and Matt Field reflect on award wins; the fall-out of the Markerstudy-Atlanta deal and the success of its partnership with Liverpool FC.
Brokers urge Aviva not to let DLG deal dull service
Brokers have hailed the ongoing improvements at Aviva and called on the provider not to be knocked off course in the regional market should the Direct Line Group takeover complete as expected.
CEO Ross hails “new phase” as Ardonagh valued at £11bn after Stone Point investment
Ardonagh has announced an equity investment from funds managed by US-based private equity firm Stone Point Capital LLC, the alternative investment management specialist, that values the broking group at $14bn (£11.04bn).
Review of the Year 2024: Acrisure UK’s Mark McIlquham
Mark McIlquham, CEO of Acrisure UK, expresses disappointment at high-quality independent intermediaries selling to consolidators; still thinks a big insurer might snap up a broker; and reckons his children would take delight in watching him take part in…
Financial Affairs buys Owen & Ewing
Burnley-based Financial Affairs has completed its fourth acquisition purchasing Owen & Ewing Insurance Brokers.
Ageas and Saga seal £207m partnership and Acromas deals
Ageas and over-50s specialist Saga have signed on the dotted line agreeing a 20-year partnership for motor and home insurance and the sale of Saga’s underwriting business, Acromas.
JMG expands into North Wales with Anchor buy
JMG Group company, Butterworth Spengler Insurance Brokers, has bought Anchor Insurance, growing its presence into North Wales.
Lycetts buys broker Cheviot
Lycetts has strengthened its presence in the North East, purchasing fellow Newcastle-based broker Cheviot Insurance Services.
Review of the Year 2024: Pen Underwriting’s Nick Wright
Nick Wright, chief development officer at Pen Underwriting, questions the market’s short memory with regards boom-and-bust; is interested in the future of PIB and pan-European consolidation; and offers a pitch to take part in Bear Grylls’s The Island.
SRG buys broker R3
Specialist Risk Group has bought specialist insurance broker, R3, its eleventh acquisition of the year.
Review of the Year 2024: Allianz Commercial’s Nick Hobbs
Allianz Commercial chief distribution officer Nick Hobbs is intrigued by Aviva’s Probitas deal, bemoans the continued presence of underinsurance and hopes that the term ‘insurer service’ is consigned to the clickbait dustbin.
Gallagher to cement UK broking top spot with £10.5bn AssuredPartners swoop
Broking giant Arthur J. Gallagher has signed a definitive agreement to acquire US rival AssuredPartners, it announced this morning.
Coles leads MBO of Ardonagh retail MGA Uris Group
Uris Group, the Ardonagh-owned specialist personal lines MGA and services provider, has been sold to a new vehicle backed by its leader Derek Coles, Insurance Age can reveal.
Aviva has hit ‘strategic jackpot’ with £3.6bn DLG deal agreement, claims analyst
An analyst at investment firm Hargreaves Lansdown has described Aviva’s £3.6bn bid as a “golden ticket” for Direct Line Group shareholders.
Aviva has Xmas deadline for DLG offer after both agree prospective £3.6bn deal
Aviva and Direct Line Group have jointly announced that they have reached preliminary agreement on the financial terms of a potential acquisition of the latter by the former.
Review of the year 2024: Brown & Brown’s Sime
Chris Sime, group markets director at Brown & Brown Europe, predicts a UK consolidator could get taken out by a US broker, wonders why buyers continue to pay multiples on unrealistic Ebitda projections and mulls what a Blanc/Winslow reunion might look…
Blackrock to buy Ardonagh-backer HPS in $12bn deal
Global investment management company Blackrock has signed up to buy long-standing Ardonagh backer HPS Investment Partners in a $12bn (£9.43bn) deal.
Roundtable: UK insurance broking – reshaping the future
As the post-Covid insurance-broking environment evolves, brokers are continuing to adapt to the new backdrop. A recent Insurance Age roundtable explored the challenges and opportunities, as brokers tackle today’s range of pressing objectives – and assess…
RSA targets writing to brokers in January on commission as NIG integration progresses
RSA will have harmonised its baseline commission tables by the end of this year, according to Laura Fox, distribution development director, in the latest integration webinar after the deal for NIG.
Review of the Year 2024: Hedron Network’s Duncan Pagan
Duncan Pagan, consultancy services director at Hedron, reflects on frown-inducing M&A; weighs up the tangible benefits-to-burden ratio when it comes to regulation; and would love to see the Hedron brand atop the Pyramid Stage at Glastonbury.
AbbeyAutoline buys Coleraine-based Wallace Insurance Brokers
AbbeyAutoline has bought the customer book of business of fellow Northern Ireland firm Wallace Insurance Brokers in its third deal of the year.