The biggest insurance industry deals from this week

Starting off the week, Australian insurance broking business Aub announced it had agreed to acquire an 80% equity stake in UK-based Movo Group.

Aub has taken a majority stake in the group as part of plans to continue expanding into the UK retail broking segment.

• Australian broking group acquires majority stake in Movo

Then, The Broker Investment Group (TBIG) said it had taken a majority shareholding in JPM Group, the holding company for Beam Insurance Solutions.

Following the 49% stake taken in March 2023, TBIG have purchased the remaining shares from managing director Dave Johnston.

• Senior people moves announced as broker receives major investment

Following this, NSM Insurance Group completed its acquisition of UK-based InsurEVO and the travel brands it operates.

NSM said it would “bring the full power of its capacity, resources and technology to further grow these brands”.

• NSM completes acquisition of AllClear’s UK-based owner

And then, Ardonagh Advisory agreed to acquire chartered insurance broker RK Henshall and Co.

Cheshire-based RK Henshall and Co specialises in commercial insurance and has a range of schemes through its air underwriting division.

• Ardonagh Advisory snaps up broker

Rounding off the week, Specialist Risk Group (SRG) acquired Anthony James Insurance Brokers in a bid to strengthen its retail pillar.

SRG said the business would be a “valuable addition” to its existing portfolio and expand Specialist Risk Insurance Solutions (SRIS), the firm’s retail arm.

• SRG acquires broker to strengthen retail pillar