Mergers & acquisitions (M&A)
GRP enters pet market as it bolsters digital broker Insync with deal
Global Risk Partners has moved into the pet insurance market buying Petsmedicover, trading as VetsMediCover.
What next for Mark Wilson after Abacai exit?
Despite his departure from insurtech Abacai, Mark Wilson has talked previously about the need to disrupt the insurance status quo going back to his days as group CEO of Aviva. Based on the assumption this exit is just a blip in that mission, Jonathan…
MGA bolsters team following resignations amid Ardonagh staff interest
Managing general agent Mercia Underwriting says it has bolstered the team after a number of staff resigned from positions.
Dayinsure’s Barry Bown made Abacai group CEO after Wilson exit and job cuts
Barry Bown, boss of Abacai Technologies owned-Dayinsure, was promoted to group CEO after the departure of his predecessor Mark Wilson, Insurance Age can reveal.
Clear Group adds third MGA with Profile Risk Solutions buy
Clear Group has bought specialist commercial lines managing general agent Profile Risk Solutions, trading as Profile Underwriting, adding its third MGA in a month, Insurance Age can reveal.
Pen spins out UK financial lines and liability arm with Manchester as chair
Managing general agent Pen Underwriting has today announced some changes to its structure, which sees Manchester Underwriting Management founder and CEO Charles Manchester become chair of a new division.
Lloyd & Whyte confirms 2022 deals spend
Lloyd & Whyte struck six deals in 2022 as turnover grew to £28.4m.
PIB reveals £506m spend in 2022 as revenue hits £345m
PIB Group upped its merger and acquisition spending to £506.2m in 2022, as it snapped up 23 businesses with considerable expansion into Europe.
Aston Lark posts growth and deal costs including for Reich and UKGlobal
Aston Lark grew revenue by 22% to £84.5m in the year to 30 September 2022.
Aviva buys Barclays’ home insurance book
Aviva has signed up to buy Barclays UK’s 350,000 strong home insurance portfolio.
Esure and PIB investor Bain Capital raises $1.15bn for new insurance M&A arm
Esure and PIB Group investor Bain Capital has announced the final close of its inaugural private equity fund, Bain Capital Insurance Fund, LP at $1.15bn (£890m), above its initial target of $750m.
Blog: Is operational efficiency the new battleground for UK consolidators?
It is time to change the record on consolidation from talk of double digit acquisition multiples to evidenced efficiency improvements, argues Andy Fairchild.
Blog: PIB’s Brendan McManus on the future of insurance broking M&A
Fragmentation, low market maturity, employee benefit opportunities and lower pricing make Europe ripe for broking consolidation, according to PIB Group CEO Brendan McManus.
Roden joins Clapp for County Group reunion at Cullum's TBIG
The Broker Investment Group has added a CEO of retail with the appointment of Andy Roden, formerly of County Group.
CFC expands transactional liability offering to benefit small to mid-size M&A deals
Specialist insurer CFC has expanded its suite of transaction liability products with the launch of a new solution to cover title to shares risks (TTS insurance).
Arag’s Andy Talbot confident Das deal will be positive for brokers
The UK head of sales and marketing at Arag, Andy Talbot, has promised brokers ‘best of breed products’ with a takeover of Das UK in the offing.
Arag Group strikes deal for Das UK
Arag Group has signed up to buy Das UK, subject to regulatory approval, in a move that would create a near £200m gross written premium legal expenses insurance business.
Ex-Swinton duo Normand and Beaven join Academy as it receives Blixt PE injection
Academy Insurance Services has been given external investment from private equity house Blixt Group with its sights set on growth through further acquisition.
NBS acquires Capital Markets Underwriting
NBS Underwriting has acquired Capital Markets Underwriting, an independent underwriting agency and Lloyd’s coverholder.
Think Insurance on the hunt for acquisitions – Russell Bence
Think Insurance is on the hunt for acquisitions, targeting brokers with around £3m of gross written premium, commercial director Russell Bence told Insurance Age.
Blog: 'Do the right thing' to grow your own culture and future leaders
Broker management teams face many challenges in the post pandemic world, not least defining their company culture and attracting the next generation of talent. Mike Edgeley, group CEO of the Clear Group, offers a perspective on one roadmap to potential…
PSC Insurance buys Turner Rawlinson
Australian group PSC Insurance has bought London-based broker Turner Rawlinson, according to filings at Companies House.
Clear buys One Commercial Specialty from Bspoke
Clear Group has continued its push into the managing general agents sector buying One Commercial Specialty from Bspoke.
Stevenson Seacombe Partnership buys 51% of fellow TBIG member Whitefield Insurance
Stevenson Seacombe Partnership has bought a 51% holding in fellow The Broker Investment Group firm member Whitefield Insurance based in Ramsbottom, Lancashire.