All M&A articles – Page 57
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News
AA and Saga reveal post merger plans
The full details of the Saga and AA merger have come to light this week as four senior directors left the AA and a new group management structure was put in place.In an exclusive interview with Insurance Times, group commercial director John Potter outlined the merged company’s new structure, employment ...
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Towergate acquires Open GI in blockbuster deal
£276m purchase of leading IT provider is the largest in the company's history
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Erinaceous in talk over credit term and covenant breaches
Erinaceous in talks with its lenders regarding credit facilities and breaches of covenants
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NewsTradex to target homes in high net worth drive
Tradex is to continue its expansion into the high net worth sector following the expiry of legal restrictions on its chairman. The motor trade specialist is gearing up to target the high net worth home market after a restrictive covenant on the chairman, Tony Lumsden-Cook, expired at the end of ...
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Ellis slams buyers who overpay for brokers
Broker Network chief executive Grant Ellis has hit out at the unrealistically high prices being paid for brokers by consolidators. Ellis said some acquirers were paying over the odds for brokers and demonstrated a lack of rigour when it came to calculating the potential returns. His comments were made as ...
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Brokers seek insurer cash as credit crunch hits
Turmoil in credit markets could stall broker consolidation drive say industry figures
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News
Aquilo sells business units after delisting
?Claims specialist Aquilo has sold two of its business units a week after delisting from the stock market. Aquilo’s building claims business, AIRS, has been sold to building maintenance company Rok for £2.1m. Meanwhile Aquilo’s home contents replacement service, ABS, has been bought by Powerplay Direct, for an undisclosed price. ...
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NewsAA/Saga merger threatens 2,000 jobs
?The £6bn merger of over-50s insurer Saga and the AA will lead to more than 2,000 job losses, the GMB union has warned. The warnings came amid fierce speculation about how the merger, which completed this week, would affect insurers’ trading relationships with the two companies. GMB national officer Paul ...
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Resolution H1 profit up on Abbey acquisition
Resolution interim profit rose sharply boosted by Abbey contribution
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Aquilo's home contents replacement business sold
Aquilo Business Solutions bought by Powerplay Direct
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Equity makes Northern Ireland buy
Martin Sheehy buys takes Equity to 20 branches in Northern Ireland
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Online onlyThe saga continues
The impact on the insurance industry of the Saga/AA deal is still unclear
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FeaturesThe secret of Kramer's success
Ariel Re chief executive Don Kramer has set up five reinsurers and is currently dealing with the Atrium merger. He tells Tom Flack that his ethical compass has guided him
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News
Cooper nets CRS terror teams
Cooper Gay Group has acquired the reinsurance and terrorism broking teams of CRS Group. The teams transferred to Cooper Gay’s Lloyd’s broker, Cooper Gay & Co, on 1 September. It is the first major acquisition made by the group since SC Insurance and Risk Services, a subsidiary of Portuguese corporation ...
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News
Homeserve pulls D&G buy-out
?Homeserve said this week it had pulled out of talks to buy specialist warranty and elect-rical appliance insurer Dom-estic & General Group (D&G). Meanwhile, D&G confirmed that it was in discussions with other potential bidders saying it was “confident that sig-nificant value can be realised for shareholders through a premium ...
