Britannic is acquiring a 60% stake in Irish bank First Active Financial for £57.2m.
The deal will be sealed by making an initial payment of £29.5m. The remainder will be paid out in instalments between 2000 and 2004.
First Active will retain the remaining 40% stake and its rights to the profits of The Mortgage Corporation, which it acquired in 1996.
Brian Shaw, chief executive of Britannic, sees the move as an important step in Britannic's development.
He said: “I expect that there will be significant opportunities for both First Active Financial's products through other Britannic sales channels and Britannic products through First Active Financial.”
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
