Insurance Times round up this week’s biggest M&A-related stories
Starting off the week, AbbeyAutoline announced it had purchased Down Insurances’ customer book.
It forms part of the broker’s plan to expand its customer footprint and enhance its commercial insurance service offerings within the Northern Ireland marketplace.
Then, Seventeen Group confirmed it had purchased Gen2 Broking.
The deal will see the firm rebrand to James Hallam, which is Seventeen’s broking subsidiary.
The next day, Hiscox said it would not comment after a report suggested it had attracted takeover interest.
According to Insurance Insider, Japan’s Sompo Holdings and European insurer Generali are considering a potential acquisition of the insurer.
On the same day, Ardonagh Advisory said it had acquired Rollinson Smith Insurance Brokers (RSIB) to expand its geographical reach.
This week also saw Specialist Risk Group (SRG) acquire the ongoing business of Carriagehouse.
Established over 30 years ago, Carriagehouse supports the equestrian industry with a range of specialist products.
Rounding off the week, Aviva confirmed that it had completed its £249m purchase of insurance platform Probitas, officially marking the insurer’s entry into the Lloyd’s market.
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