Mergers & acquisitions (M&A)
Headline Makers: October 2022
The key stories from the past month all in one place.
Aston Lark reveals growth in final year before sale to Howden
Aston Lark has posted a 72% rise in revenue at group level to £157.6m in 2021 with organic growth in commission and fees coming in at 11%.
UK Broker Awards 2022: Deal of the Year
This high-profile deal, completed smoothly against the challenging backdrop of the pandemic, was a strong vote of confidence in UK broking
UK Broker Awards 2022: Achievement Award
David Howden is at the helm of a multi-billion-dollar global business on a fast-paced consolidation spree, all the while campaigning for better self-regulation across the industry and greater disaster relief
Ardonagh Specialty to buy Oxford Insurance Group
Ardonagh Specialty has signed up to acquire Lloyd’s broker Oxford Insurance Group.
Stubben Edge buys finance platform Finpoint
UK-based insurtech Stubben Edge has acquired credit broker Finpoint for an undisclosed sum.
Insurance veteran teams up with iRevolution bosses for M&A vehicle
The sales and marketing director at Tradewise Insurance Services, Wayne Bradshaw, has launched a self-named company Wayne Bradshaw Acquisitions.
AUB completes Tysers buy
AUB Group has completed the £500m purchase of Lloyd’s wholesale broker Tysers from private equity house Odyssey Investment Partners.
BGL Insurance prioritises talent and digital following Markerstudy deal
Managing director of distribution at BGL Insurance, Laura Mullaney highlights the brokers’ main focuses after its takeover by Markerstudy.
Markerstudy to buy First Central? – Where there’s smoke, there’s Skyfire
Jonathan Swift discusses the touted potential tie-up between Markerstudy and First Central and asks whether the former is ready to get back on the Rock with this deal.
Acrisure continues UK expansion with CRK Commercial Insurance Services buy
US-based Acrisure has made its second UK broker purchase with CRK Commercial Insurance Services, following the acquisition of Russell Scanlan.
Doyle to take over as Marsh McLennan CEO as Glaser announces retirement
Marsh McLennan has announced that John Doyle will take over as president and CEO at the beginning of 2023 succeeding Dan Glaser.
Devitt grew 10% in run-up to Gallagher sale
Romford-based Devitt Insurance Services has posted 10% growth in turnover to £14.43m for 2021.
RSA sets out strategic roadmap for 2025 with new "broker promise" vow
RSA has revealed its strategic roadmap for 2025 with a target of reaching a combined operating ratio in the low 90s and committed to unveiling a new broker "promise" in 2023.
Staysure completes aggregator Payingtoomuch buy
Staysure Group has bought the remaining shares in travel insurance comparison site Payingtoomuch.
Clear Group snaps up legal indemnities broker
Clear Group has made its 36th acquisition with the purchase of legal indemnities broker LawSure Direct for an undisclosed sum.
PIB buys super yacht specialist Zorab Insurance Services
PIB has added to its specialisms division buying Zorab Insurance Services for an undisclosed sum.
Edwards Insurance Brokers expands into Hampshire
Edwards Insurance Brokers has opened a new office in Fareham on the back of pandemic recruitment.
Coversure Poole owner John Palmer buys Croydon franchise
Owner of three Coversure franchises, John Palmer, has purchased Coversure Croydon with plans to buy more.
TL Dallas posts 10% profit rise in 2021
TL Dallas Group has reported a 5.1% rise in turnover to £9.78m in 2021.
Stubben Edge secures £5.6m investment
UK-based Insurtech Stubben Edge has secured a £5.6m investment which it said will be used for further growth through new business and an “ambitious” M&A strategy.
SRG completes Hamilton Leigh buy
Specialist Risk Group has completed the acquisition of motor-trade specialist Hamilton Leigh for an undisclosed sum.
DR&P Group strikes five deals in 2021 after Inflexion investment
Broker holding company DR&P Group made five acquisitions in 2021 after private equity house Inflexion invested in the business and secured funding from Ares Management, a filing at Companies House has revealed.
PIB set for more UK deals
PIB is set to move forward with more UK deals and is also achieving double digit organic growth according to chief financial officer, Ryan Brown.