All M&A articles – Page 59
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News
Erinaceous shares dive but HBOS stays in takeover race
HBOS continues to be linked with Erinaceous group, despite reports last week that the bank was poised to withdraw from the takeover race.Shares in the property group fell further to 175p on Monday – their lowest mark since late 2004 – following a 5% dive on Friday last week.A spokesman ...
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News AnalysisThe great credit crunch
Private equity M&A deals in the insurance sector are threatened by lack of funding. Tom Gifford explains why.
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News
CCV buys Ajax to near GWP goal
Cullum Capital Ventures is another step closer to reach-ing its 2007 target of controlling £100m of gross written premium (GWP), following its latest acquisition of Liverpool–based Ajax Insurance Brokers.With a GWP of £3m, Ajax Insurance Brokers is CCV’s 14th acquisition, taking the company to over £70m in annual premiums. ...
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News
Towergate profits soar as sales pass £700m
Towergate Partnership saw its profits soar in the first half of 2007 as its sales surpassed £700m.The consolidator giant reported earnings up 37% year on year to £67m in the six months to 30 June 2007, while income rose by over 32% to £161m. Total sales in terms of gross ...
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News
Direct Group looks to grow following £40m MBO
Insurance service provider Direct Group is to hit the acq-uisition trail following a £40m management buy-out backed by a private equity firm.The buy-out was led by former GAB Robins boss Derek Coles who joined Direct Group last year. Coles, who becomes chief executive of the group, said he would now ...
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Online onlyOn the acquisition trail
CCV continues to expand rapidly buying roughly one regional broker every month
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Online onlyTowergate buys UK’s largest general aviation broker
Towergate Group has acquired Lloyd's broker, Hayward Aviation
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Online onlyJelf's buying spree shows no sign of abating
Lampier acquistion is deal number five in 2007
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News
Erinaceous loses top two directors
Two directors at Erinaceous Insurance Services are defecting to Towergate and its sister company CCV. Managing director, Andy Halstead, and director of insurance and underwriting, Nick Crocker, will take up roles at Towergate Financial Services and CCV. This development comes amid speculation that HBOS has tabled a bid for ...
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News
Insurers suffer as debt fears hit market
UK insurance shares took a tumble during last week’s stock market slide, but proved themselves more resilient than most. Shares prices fell worldwide last Thursday as markets recoiled at the prospect of massive amounts of debts going unpaid and credit being squeezed. The London stock market fell more than 3% ...
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News
Chinese insurers given green light to invest in UK
Decision by Chinese regulator raises limit for overseas investment
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News
Atrium brushes off downgrade threat
Atrium has shrugged off the potential threat of being downgraded by ratings agency Moody’s Investor Service.Moody’s has placed Atrium’s Syndicate 609 under review in light of the company’s proposed merger with Bermuda reinsurer Ariel, and the news that its lead underwriter, Christine Dandridge, will be retiring.The ratings agency said although ...
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News
Members’ agents criticised over failed Names buy-out
Tension is mounting between Lloyd’s insurers and members’ agents over QBE’s failed attempt to buy-out the remaining Names in its specialist liability Syndicate 386.QBE was forced to withdraw an offer when investors rejected what was regarded as “the highest ever, offered within a Lloyd’s capacity”.Under Lloyd’s rules, the insurer was ...
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News
Acturis seeks acquisitions
Software house Acturis is to begin making acquisitions and is looking to grow internationally. The company, which is currently focused on the UK insurance sector, is also looking to widen its target industries. Chief executive Theo Duchen told Insurance Times: “We are looking at acquisitions at the moment. We are ...
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News
Cobra float fails to hit £10m funds target
Network’s AIM listing raises only £1m, but acquisitions continue with £7m partner loan
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Online only
Cobra snaps up broker
UK broking group strengthens its operations following AIM flotation
