Mergers & acquisitions (M&A)
CMA launches merger inquiry into Gallagher-Willis Re deal
The Competition and Markets Authority has opened a merger inquiry into Arthur J Gallagher buying Willis Towers Watson’s treaty reinsurance business looking at whether the proposed deal will lead to a lessening of competition in the UK market.
MUM the ideal complementary buy, says Pen boss Tom Downey
Pen Underwriting has bought Manchester Underwriting Management for an undisclosed sum adding 50 staff and over £60m of gross written premium to the Gallagher-owned managing general agent.
Analysis: The claims sector in a post-reform world
The launch of the whiplash portal has made it more difficult for firms to make money handling small claims, leading to firms reassessing their models. Post investigates what the sector will look like in a post reform world.
Covéa talks to buy Axa XL Re fall through: report
Covéa has failed to secure a deal to buy Axa XL Re, Post’s sister title has reported.
Avid’s Stephen Gibson on the four criteria that will define a successful MGA
After a challenging few years the managing general agents sector has looked at itself in the mirror and, buoyed by the hardening market, is in good position to grow following the pandemic, says Stephen Gibson, CEO of Avid Insurance Services.
Analysis: Willis Towers Watson's retention and recruitment challenge
The cancellation of Aon and Willis Towers Watson's mega merger poses a talent challenge for the world's third largest broker.
JMG Group approaches £100m milestone after Butterworth Spengler’s Brunsdon buy
JMG Group has reached £90m of gross written premium with 200 staff in 10 offices, CEO Nick Houghton told Post as it funded Butterworth Spengler to make its first acquisition since joining the group.
Jensten targeting double-digit organic growth after Tasker buy
The Jensten Group has completed its acquisition of the Tasker Insurance Group – including Tasker Insurance Brokers, Tasker & Partners and Gresham Underwriting – following regulatory approval.
British Insurance Awards 2021: Industry Impact Award
The winners of the British Insurance Awards were revealed on Wednesday 15 September at Battersea Evolution.
British Insurance Awards 2021: Insurance Personality of the Year: Aston Lark group CEO Peter Blanc
The winners of the British Insurance Awards were revealed on Wednesday 15 September at Battersea Evolution.
British Insurance Awards 2021: Broker Awards
The winners of the British Insurance Awards were revealed on Wednesday 15 September at Battersea Evolution.
Intelligence: Pepping up the primary markets
The Financial Conduct Authority is currently consulting on proposals to encourage young, fast-growing firms to seek a public listing at an earlier stage in their development. Edward Murray investigates if this will give a boost to the insurance sector,…
Thompson & Richardson hires Stuart Williams as MD
Ethos Broking-owned Thompson & Richardson has recruited Stuart Williams as managing director joining from Konsileo, Post can reveal.
BGL confirms Fenchurch appointment after report of approaches for insurance arm
BGL Group has confirmed the appointment of Fenchurch Advisory Partners as Sky News revealed the business was looking at offers for its insurance arm.
Last chance to decide Industry Impact winner at 2021 British Insurance Awards
The voting is open for you to decide who should win the Industry Impact Award at tomorrow’s British Insurance Awards. But be quick as the poll closes at noon tomorrow.
Rebranded broker Lucida ready for deals
Right Choice Holdings, owner of Right Choice Insurance Brokers, Bennetts and Moorhouse has rebranded as Lucida.
PIB deals cost £92.8m in 2020
The cost of buying eight businesses and three books of business totalled £92.8m in 2020 for PIB Group, a filing at Companies House has revealed.
Editor’s comment: The death of the mega deal?
If not for Covid-19 then the biggest story for the insurance industry of 2020 would have been the $30bn (£21.9bn) mega merger of broking giants Aon and Willis Towers Watson.
UK tops carrier M&A in Europe for first half of 2021
The UK was the leading European country – and second most active worldwide behind the US – for insurance carrier mergers and acquisitions in the first half of 2021, according to research by Clyde & Co.
WH Smith to launch ‘digital first’ insurance lines; WTW lines up first acquisition after Aon merger collapse; Converys Europe strikes fourth deal and Higos buys in Cornwall
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Marsh and Citi support vaccine efforts; Hudson takes majority Occam stake; Simply Business in Barclays tie up; Aston Lark strikes Irish deal; RAC picks Premium Credit
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Staff at risk as A-Plan owned Endsleigh opens restructure consultation
Endsleigh has confirmed that people are at risk of redundancy from its restructure plans as it opened a 30-day consultation.
Ardonagh adds £900m to firepower as Ebitda rises and losses narrow
Ardonagh has posted a 33.4% rise in income and a 42.4% increase in Ebitda for the first half of 2021.
Dual targeting $3bn GWP within five years after Align buy
Howden-owned Dual can create a “really unique position in the market” as a specialist underwriting managing general agent and push for substantial further growth on the back of the deal to buy US firm Align Financial, CEO Richard Clapham told Post.