Mergers & acquisitions (M&A)
Movo buys CCS Insurance
Movo Partnership network has bought CCS Insurance adding £1.8m of gross written premium and three staff to the group.
Tysers reveals 20 new hires and commits to 2023 apprenticeship scheme
Tysers has added more than 20 staff this year, the Lloyd’s broker revealed, as it also confirmed plans to repeat its apprenticeship programme in 2023.
Saga confirms underwriting sale talks
Over 50s-group Saga has confirmed ongoing talks to sell its underwriting business Acromas Insurance.
NFP buys Direct Safety Solutions
NFP has added to its UK portfolio buying West Midlands-based health and safety consultancy Direct Safety Solutions.
Speculation links Ageas Group with a fresh takeover approach
Ageas Group is being eyed as a takeover target according to reports.
People Moves: 16 - 20 January 2023
Keep up to date with the latest personnel moves within the insurance market.
JMG targets doubling in three years
Having hit £200m gross written premium years ahead of schedule, JMG Group is targeting doubling over the next three years, CEO Nick Houghton revealed to Insurance Age.
Acrisure snaps up Affinity Brokers in Scotland
Acrisure has bought Glasgow-based Affinity Brokers in its 11th deal within the UK market.
One Broker targeting £4m Ebitda
Norwich-headquartered One Broker has targeted pushing Ebitda above £4m within two years through sustained organic growth and acquisitions, CEO Robin Plaster revealed to Insurance Age.
Former Taoiseach Enda Kenny poised to join new Ardonagh International board
Ardonagh is planning to bring Enda Kenny, former Taoiseach in the Republic of Ireland from 2011 to 2017, into the company, a spokesperson has confirmed.
JMG broker deal costs revealed
JMG Group’s ultimate holding company, Augusta Topco, picked up a bill of £17.26m for buying brokers in the financial year ended 31 March 2022, and followed it up with a further £57.7m outlay in the rest of the calendar year.
Profits more than double and Ebitda soars at One Broker in 2022
One Broker has reported a more than doubling of post-tax profit to £1.2m for the year ended 31 May 2022.
Markerstudy takes £16m hit on its Brightside business value
Markerstudy has taken a £16m hit on the value of its Brightside business, according to the group's latest accounts.
GRP buys BPW in South Wales
Global Risk Partners has made its third purchase of 2023, snapping up BPW Insurance Services in its first Welsh buy of the year.
Morton Insurance buys private hire business of Export & General Insurance Services
Morton Insurance has bought the private hire business of fellow London-based broker Export & General Insurance Services for an undisclosed sum, Insurance Age can reveal.
Imas reveals 35% drop in insurance distribution M&A in 2022
Initial analysis by Imas has detailed that mergers and acquisition deals for UK general insurance distribution firms dropped by around 35% in 2022, with fewer than 100 transactions announced versus 148 in 2021.
Jensten’s Coversure targeting 10 more franchise offices in 2023
Jensten Group has bought Coversure Kidderminster for an undisclosed amount, following on from the purchases of Coversure offices in Nottingham and Stamford last year.
JMG Group buys two brokers
JMG Group has snapped up Southampton-based Knightsure Insurance Brokers and T I Alexander Insurance Brokers in Bo’ness in two separate deals.
GRP delivers on MGA appetite with Nucleus buy
Global Risk Partners has bought Nucleus Underwriting, its first managing general agent acquisition since being taken over by Brown & Brown last year.
Sutton Group profit and turnover soar in run-up to Acrisure sale
Sutton Group has reported ‘best ever’ figures as turnover and profit leapt by 15% and 50% respectively ahead of being snapped up by Acrisure.
Markerstudy confirms Tradex deal
Markerstudy has confirmed it is buying Tradex Insurance Services alongside snapping up Lloyd’s broker Clegg Gifford in a move that is expected to mark it stepping back into risk-carrying underwriting.
Jensten posts £21.5m loss as it reveals £35.1m Tasker price
Jensten has revealed that the deal for Tasker Insurance Group cost £35.1m with the majority of the bill – £33.6m – paid in cash.
Chambers and Newman reveals profit in Ardonagh sale year
Chambers and Newman has recorded a post-tax profit of £385,000 for the period including the sale to Ardonagh.
GRP buys Christopher Trigg Insurance Brokers
Global Risk Partners has bought Hedron Network member Christopher Trigg Insurance Brokers.