Centerbridge and Platinum Equity have pulled out of discussions "by mutual agreement" as AA continues to explore options including an equity raise.
Partnering with private equity may help brokers succeed during what looks set to be a complex, challenging, but potentially rewarding period, argues Andrew Backen, partner, Equistone Partners Europe.
Business also posts pre-tax loss of £55.5m for the first six months of 2020.
Former owner and CEO, Sir Roger De Haan, is expected to invest up to £100m in the business as he returns to the board as non-executive chairman.
The three potential buyers have an additional four weeks to make a bid for the AA as the motor specialist says discussions are progressing.
Stuart Grieb joins the consolidator as regional managing director for the South, while Chris Haggart moves to take on wider responsibilities across GRP's retail division.
He replaces John Bibby, who has stepped down from the business but remains a shareholder.
HTC Associates, based in Derbyshire, brings around £5m in GWP to Jensten.
The move, announced in June, brings Broker Network back into the fold as Ardonagh confirms £300m war chest to fund future deals.
Cega Group chief executive Alistair Hardie is to replace Bob Darling as CEO of Jensten Group, the broker has announced.
Towcester-based broker Premier Choice Healthcare becomes consolidator's healthcare hub.
With Broker Network returning to the fold, Insurance Age content director Jonathan Swift reflects on why Ardonagh Group is looking Back to the Future as its plots post pandemic growth.
Livingbridge has taken a stake in independent personal lines broker Chill Insurance.
Group CEO Mike Bruce on the Searchlight deal, expansion plans and how the firm's M&A activity is "gaining momentum".
The move, which was first announced in February, sees founders Peter Cullum and David Margrett retain a minority stake in the business as Mike Bruce becomes group chief executive.
Personal lines broking group Complete Cover has bolstered its management team with a quartet new hires including former Markerstudy and Brightside boss Russell Bence.
Almost a year into the role as group CEO of Open GI, Simon Badley sat down with Insurance Age content director Jonathan Swift to talk about how he plans to build on existing foundations to make the software house the technology 'partner of choice' for…
Insurance Covid-Cast episode 12: Newsmaker special with Partners& CEO Phil Barton and chair Stuart Reid
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are working from home, we present the latest in a series of newsmaker specials focusing on the people behind the lockdown headlines.
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are working from home, we present the first in a series of newsmaker specials focusing on the people behind the lockdown headlines.
But the consolidators say their models have not changed as a result of the coronavirus.
Blog: When is a consolidator, not a consolidator? The question Barton, Jelf and Reid’s Partners& hopes to answer
This week saw the launch of new broking business Partners&, bringing together a quintet of players to form a business which is positioning itself as distinctly anti-consolidator. Insurance Age content director Jonathan Swift looks at what this means; and…
Wood founded the business in 1999 and sold a majority stake to Bain Capital in 2018.
Deal sees private equity firm Dunedin exit the specialist broker.
Exclusive: Group CEO Warren Downey, who joined from JLT last year, outlined the firm's M&A plans.