All M&A articles – Page 55
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Oval ramps up revenue target to £140m next year
Oval is to raise as much as another £50m to fund a major acquisition drive as it aims to more than double its revenues by the middle of next year. Chief executive Phillip Hodson said the consolidating giant was looking to raise the additional funds, which could take its war ...
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Broker Network chief predicts takeover interest
Broker Network chief executive Grant Ellis has said that the company is likely to receive further approaches in the coming months.Ellis, who was speaking at the company’s third national conference in Cambridge, warned that prospective suitors would have to pay a considerable sum for the business, which recently completed its ...
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Citybond takes on Aon's travel book
Citybond to grow book alongside tour operator, travel agent and broker networks
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Venture Preference acquires three brokers
Ventures Preferences boosts GWP by £25m after broker acquisitions
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Brokers in HNW merger
Two brokers that have merged to specialise in the high net worth (HNW) market have ruled out acquisitions claiming that brokers who have acquired are losing clients.Smith Ross Shane and Greenfield Risk Services are to join forces to form Smith Greenfield Services. But managing director Steve Smith said it would ...
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Lucas Fettes looks to sell after co-founder retires
Managing director confirms company is seeking a larger consolidator partner
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Oval acquires healthcare specialist
Bristol and Lancashire based medical group UMS to form core of healthcare division
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Online onlyCould Munich Re be facing a battle with the names?
German reinsurer may find it difficult to gain 100% control of new syndicate
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Private equity firm buys Cunningham Lindsey
Stone Point acquire majority stake in loss adjusting group
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Munich Re to make second Lloyd’s buy
Munich Re will strengthen its presence in Lloyd’s with the acquisition of Syndicate 318, it announced this week.The German reinsurer expects to complete the acquisition of MSP Underwriting, owner of managing agent Beaufort Underwriting and service company Evergreen Underwriting Services for a price it says is “in the mid double-digit ...
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NewsWhy would a consolidator want a broker network?
As rumours grow about the possible sale of the Broker Network to a consolidator, Danny Walkinshaw assesses the potential value of such an acquisition
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Big consolidators pricing out small brokers seeking to buy
Essex broker RG Ford has hit out at the major consolidators, claiming their spending power is preventing medium-sized brokers from making acquisitions.RG Ford managing director Giles Ford said the big money paid by large groups, such as Towergate and Oval, was pricing them out of the market.He said: “What we ...
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Stakeholder objection blocks JLT’s First City bid
Jardine Lloyd Thompson (JLT) has been unsuccessful in its bid to buy independent Lloyd’s broker First City.The companies have been in talks, but it is understood that a deal could not be struck because a major stakeholder objected to the takeover.Senior sources confirmed that the companies had met, but talks ...
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VP passes £500m GWP
AXA’s insurance broking arm Venture Preference (VP) surpassed the £500m premium income mark with the acquisition of the Health Insurance Group (THIG).THIG, which was purchased for an undisclosed sum, is an independent UK private medical intermediary generating £45m of gross premium income.The purchase propels Venture Preference into the private medical ...
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Cooper Gay
Lloyd’s broker Cooper Gay is looking to acquire smaller Lloyd’s brokers as part of a “growth play”.The company is focusing on brokers that wished to retain their independence, chief executive Toby Esser said this week.Although he was unable to disclose potential targets, he said the strategy would involve strengthening existing ...
