Private equity (PE)
RCapital and Montague complete UK General deal
Rcapital Partners LLP, and joint investor Montague Investment Group have completed the acquisition of UK General Insurance and Precision Partnership Limited, following regulatory approval.
Trail: Premfina remains ‘very, very, ambitious’ despite £9.8m loss
Premfina Limited posted a £9.8m loss in its reserves last year, but has pledged to continue spending in its bid to become a major force in the insurance premium finance sector.
Top 75 UK Brokers: Introduction
Welcome to the new look Top 75 UK Insurance Brokers which Insurance Age has put together with the help of Insuramore.
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
AUB completes Tysers buy
AUB Group has completed the £500m purchase of Lloyd’s wholesale broker Tysers from private equity house Odyssey Investment Partners.
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.
Ex-Hiscox UK CEO Thaker joins Abacai as Complete Cover CEO
Bob Thaker, the former UK CEO of Hiscox, has taken over as CEO of insurtech Abacai’s broking business Complete Cover Group, Insurance Age can reveal.
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.
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.
Smyth flags M&A opportunity following UK General deal
UK General is planning to grow via M&A, new products and bring in fresh teams following investment by RCapital and Montague according to CEO Tim Smyth.
Private equity duo buys UK General plus Precision Partnership
UK General has been acquired by Montague and RCapital Partners from Primary Group for an undisclosed sum.
MGAs rising up GRP’s buying plans
The takeover of Global Risk Partners by Brown & Brown has enhanced GRP’s ability to buy managing general agents as well as strengthening the pipeline for deals with brokers that did not want to be under private equity ownership, according to CEO Mike…
Refinancing gives Seventeen the ammunition for deals, says Paul Anscombe
Seventeen Group has deals in the pipeline and the firepower to continue to buy after completing its refinancing with Ares Management, according to CEO Paul Anscombe.
Seventeen Group completes refinancing
Seventeen Group, the parent firm of broker James Hallam, has refinanced with Ares Management.
UK General up for sale again
UK General’s latest filing at Companies House has revealed the personal lines specialist, which lost £9.13m in nine months up to 30 March 2021, is up for sale.
Ripe grows turnover in 2021 with profits stable
Ripe Thinking has reported a 24% rise in turnover to £23.27m for 2021.
Brown & Brown completes GRP takeover
US-headquartered Brown & Brown has completed the takeover of consolidator Global Risk Partners.
Primary Group appoints advisors for possible £1bn QMetric sale – report
Primary Group has taken on Perella Weinberg Partners to explore a potential £1bn sale of Policy Expert’s parent company QMetric, Bloomberg has reported.
Goldman Sachs buys into Clear as ECI exits
The private equity business within Goldman Sachs Asset Management has signed up to buy a stake in Clear Group, the broker has confirmed.
Carlyle funds buy NSM in £1.44bn deal
White Mountains Insurance Group has signed a definitive agreement to sell NSM Insurance Group to investment funds affiliated with global investment firm Carlyle the former majority backers of PIB Group.
Premium Credit bought by Towerbrook Capital Partners
TowerBrook Capital Partners, a London and New York-based international investment firm, has agreed to buy Premium Credit from Cinven.
Analysis: The Yanks are coming
US-broker Brown & Brown has firmly stuck its flagpole into UK soil by buying GRP. David Worsfold considers what this means for the wider sector and asks if more US-firms will stake their claim on the consolidators.
Brown & Brown takeover of GRP will open up shareholder opportunities for staff
New owner says GRP has found its forever home and will back further acquisitions.
US giant Brown & Brown to buy GRP
Consolidator confirms no changes to management team, headcount and brands under new owners, the sixth largest broker in the world.