M&A – Page 131
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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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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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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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Chinese insurers given green light to invest in UK
Decision by Chinese regulator raises limit for overseas investment
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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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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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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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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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Cobra snaps up broker
UK broking group strengthens its operations following AIM flotation
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AXA in £100m broker acquisition drive
Broking operation aims to achieve £500m in annual premiums by end of year
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NewsFurther consolidation fuels takeover talk
Further consolidation in the Lloyd’s insurance sector was forecast this week, causing a number of syndicates to stage a rally.Following Atrium Under-writing’s announcement that it was recommending a cash £193.2m offer from Bermudan Ariel Re, and with Canopius having recently been rumoured to have received an unsolicited approach from the ...
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Ariel Re acquires Atrium for £193m
Consolidation in the international insurance market is set to continue after Ariel Re became the latest major Bermudan reinsurer to take a stake in Lloyd’s.The reinsurer, which has $1bn of capital backing and is led by industry veteran Don Kramer, bought Lloyd’s managing agent, Atrium Underwriting, in a deal worth ...
