Mergers & acquisitions (M&A)
Ink seals Westinsure Group deal for mystery figure
Giles-owned Ink Underwriting Agencies has completed the acquisition of the Westinsure Group for an undisclosed sum.
Potential Aviva sale to shape outlook for composites
The future of the composite model remains uncertain as the industry waits to see if another insurance giant will swoop on Aviva's general insurance arm.
Cobra returns to profit
Cobra Holdings has reported a pre-tax profit of £392,000 for the year ended 31 March 2010, compared to a loss of £23,000 the previous year.
Axa appoints finance head
Waseem Malik has been appointed to the role of finance director at Axa Insurance.
Westinsure members approve Ink takeover
Giles-owned Ink Underwriting Agencies has completed the acquisition of the Westinsure Group for an undisclosed sum.
RSA warned to raise Aviva offer to £8bn
RSA will have to raise its offer for Aviva’s general insurance business by 60% to £8bn to seal the deal, according to a report in the City AM newspaper.
RSA responds to press speculation about Aviva
RSA has confirmed that it put forward a proposal to Aviva to acquire its UK, Canadian and Irish general insurance businesses excluding RAC and Health for £5 billion in cash.
NMJ Insurance buys Protheroe Insurance
NMJ Insurance Brokers has bought Derbyshire-based Protheroe Insurance for an undisclosed fee. The deal for the Belper-based company follows the acquisition of Ridge Insurance in January 2010. It has been acquired from Brian Milward who is retiring from…
Exeter-based broker targets South west with Devon acquistion
Fidelius Insurance Services has acquired Devon-based Ottery Insurance Services for an undisclosed sum.
Fortis completes Kwik Fit aquisition
Fortis Insurance UK has been given regulatory approval from the Financial Services Authority(FSA)for the purchase of Kwik Fit Insurance Services.
Cooper Gay plans to double worldwide binding authorities
Cooper Gay has announced plans to double the number of binding authorities it handles worldwide within three years, following the appointment of James Kininmonth as MD of its underwriting and distribution management (UMD) division.
News review: July 2010
A review of July's industry news.
Broker buying spree continues
Brokers began the second half of 2010 in a flurry of acquisition activity with Bridle Insurance snapping up two buys and further purchases from MRIB and Cullum Capital Ventures (CCV).
New Ink MD Mike Smith looks to acquire Westinsure
Giles-owned Ink Underwriting has made an offer to acquire the entire share capital of South-west broker network, Westinsure.
Anglo Irish planning for Quinn takeover
Anglo Irish Bank is just weeks away from delivering plans to the country’s Financial Regulator for the takeover of Quinn Insurance, according to the Irish Independent.
Private equity house submits revised bid for Brit
The board of Brit Insurance Holdings has confirmed that private equity house Apollo has submitted a revised indicative proposal to acquire the entire issued and to be issued ordinary share capital of the company at a price of £10.75 per share in cash.
News round-up: July/August 2010
A brief round up of news from the secto.
Bridle makes another acquisition
Bridle Insurance has acquired Southampton Insurance Services and Simple Insurance Solutions in a six figure deal.
Fairpoint buys Moneyextra.com for £1
Fairpoint Group has acquired 100% of the share capital of Moneyextra.com in a bid to extend the group from a debt solutions business into a broader-based financial solutions company.
Hill Dickinson confirms Halliwells acquisition
Hill Dickinson has acquired Halliwells’ Liverpool and Sheffield operations.
Bridle Insurance continues on acquisition trail
Bridle Insurance has acquired Leicestershire-based niche personal lines specialist Abbot Insurance for a six figure sum.
News analysis: Fortis snaps up Kwik Fit
Fortis has expanded with the £215m cash purchase of Glasgow-based Kwik Fit - including Express and Green Insurance - from Kwik Fit Financial Services.
The PB interview - Bill Cooper: Bright light in the gloom
Andrew Tjaardstra meets Bill Cooper, managing director for insurance in the financial institutions division at Lloyds TSB Corporate Markets. Despite being cautious about prospects for brokers as the UK's economic malaise continues, the firm is very much…
Marsh restructures Scottish leadership team
Marsh has announced senior appointments to its Scottish national corporate business, which provides risk and insurance advice for mid to large size corporates.