This week’s biggest M&A stories

Starting off the week, intermediary organisation The Clear Group moved three of its regional broking subsidiaries into a new “state-of-the-art” central office at Meadowhall Business Park, Sheffield.

The firms – IFM Insurance Brokers, ProAktive Sheffield and Peter Hoare and Company Insurance Brokers – were all purchased by The Clear Group between 2022 and 2023. Each firm previously occupied separate offices in the Sheffield area.

• The Clear Group moves three regional brokers into new Sheffield office

Then, Brown and Brown agreed to buy RSC Topco – the holding company of Accession Risk Management Group – in a £7.28bn ($9.83bn) cash-and-stock deal.

Established in 1997, US-based Accession is the parent company of broking firm Risk Strategies and One80 Intermediaries, an insurance wholesaler and programme manager.

Risk Strategies was reportedly eyed up by UK broker Howden earlier this year, but a deal never went through, leaving the door open for others.

• Brown and Brown agrees nearly $10bn deal for parent firm of ex-Howden target

The week also saw South Korean insurer Samsung Fire and Marine Insurance (SFMI) enter into an agreement to purchase an additional 21% equity stake in Canopius Group.

The deal brings SFMI’s shareholding in the firm to 40% and marks its third investment in the specialty insurer, following previous investments in 2019 and 2020.

• South Korean insurer ups stake in London-headquartered specialty underwriter