Private equity (PE)
GIC completes Miller deal
Institutional investor GIC has completed the takeover of Miller, buying out previous co-investor private equity house Cinven.
Lloyds Banks’ LDC takes stake in Uinsure
LDC, the private equity arm of Lloyds Banking Group, has invested in Top 100 Broker Uinsure.
Ardonagh in $2bn bond deal – Bloomberg
Ardonagh is launching a near-$2bn (£1.59bn) bond sale in a process led by Morgan Stanley and Goldman Sachs, according to Bloomberg.
Interactive insurance broker UK M&A Map 2024
In 2023, Insurance Age reported on 114 UK broker deals with Brown & Brown Europe leading the way with 21.
The American consolidators are not done yet
Recent years have been notable for the amount of consolidation led by US-based insurance brokers. Ida Axling looks at whether these players are likely to continue doing deals at the same rate and what is driving these buying sprees.
JMG adds £100m of deal firepower
JMG Group has raised an additional £100m of committed acquisition facilities from existing lender, Ares Management, Insurance Age can reveal.
Aon to buy NFP from Ardonagh investors MDP and HPS for £10.6bn
Aon has agreed to acquire rival US broking firm NFP for a total consideration estimated to be $13.4bn (£10.6bn).
GIC buys out Cinven’s shareholding in Miller
Cinven, the international private equity firm, has reached an agreement for GIC to acquire its shares in insurance broker Miller.
Blog: Private equity investment - what’s in it for insurance brokers?
There are compelling reasons to consider private equity funding, both in good times and in the current testing climate. Claire Madden, managing partner at Connection Capital, outlines why brokers should ignore PE’s bad press to understand its benefits.
Broking M&A specialist Imas acquired by global advisory firm
MarshBerry, a global M&A advisory firm for insurance brokers and wealth management firms, has acquired Imas Corporate Finance.
Ripe Thinking notches up first buy with boat insurance specialist
Insurtech broker Ripe has completed its first acquisition by snapping up specialist boat insurance provider, Craftinsure.
Markerstudy CEO Spencer targeting Admiral’s crown as UK’s top PL player after Atlanta deal
Markerstudy is only £301m of gross written premium away from potentially overtaking Admiral as the UK’s largest personal lines player after the £1.2bn Atlanta deal last week, according to its CEO Kevin Spencer.
Markerstudy to merge with Atlanta Group in £1.2bn deal
Markerstudy has today confirmed plans to merge with Ardonagh’s personal lines broking business Atlanta Group, in a deal that creates a business that transacts £3bn of GWP annually and employs 7300 people.
DR&P Group confirms MGA addition in annual results
Private equity-backed broker holding company DR&P Group added a managing general agent to its roster in 2022, buying 80% of MGIC Holdings, the business has confirmed in its annual results.
Opinion: Unlocking broker growth through consolidation
Private equity has a long and successful history of driving success in the insurance sector through consolidation. Inflexion partner and head of financial services Andrea Bertolini shares his thoughts on partnerships between firms and investors.
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…
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.
Abacai CEO Mark Wilson resigns as director as DLG/M&A speculation ramps up
A trio of co-founders at private equity-backed insurtech Abacai Technologies, including former Aviva Group CEO Mark Wilson, have resigned as directors, Insurance Age can reveal.
Former Hastings boss Neil Utley leads £2.7m insurtech investment round
Insurance data intelligence provider Percayso Inform has secured a second round of investment with a £2.7m fundraise led by industry veteran Neil Utley, and its existing venture capital investor Praetura Ventures.
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.
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.