II-StateFarm-GAinsco

State Farm to buy non-standard auto specialist Gainsco for $400mn

2020-09-17T18:02:00+01:00

US insurance giant State Farm has agreed a deal to buy non-standard auto (NSA) insurer Gainsco for around $400mn in cash in what represents its first acquisition of an insurance company in its 98-year history.

Mike Bruce

GRP makes first Republic of Ireland acquisition

2020-09-17T13:38:00+01:00

UK broker consolidator Global Risk Partners (GRP) has completed its majority share purchase of leading Irish commercial broker, Crotty Insurance Brokers.

II-OneBeacon

OneBeacon buys renewal rights to Brit public entity book

2020-09-16T19:54:00+01:00

Intact Financial subsidiary OneBeacon has acquired the renewal rights to Brit Global Specialty USA’s admitted ‘First Dollar Package’ public entity portfolio, with Sharon Wright joining as part of the deal.

Bennetts and Ardonagh

Ardonagh’s Bennetts deal raises competition concerns: CMA

2020-09-16T13:46:00+01:00

The UK’s Competition and Markets Authority (CMA) has found Ardonagh Group’s £26mn ($33.9mn) deal to acquire motorcycle specialist broker Bennetts could lead to higher prices, less choice and worse services for policyholders in the UK.

RSG and All Risks

Cortezi and Nichols take leadership positions at RSGUM

2020-09-15T20:49:00+01:00

Nick Cortezi has been named chairman and CEO of Ryan Specialty Group’s RSG Underwriting Managers business, with his former All Risks lieutenant Matt Nichols assuming the role of president.

RPS

Expansive Risk Strategies builds out PE practice with Securitas deal

2020-09-11T23:37:00+01:00

Risk Strategies has acquired specialist Pennsylvania-based broker Securitas Insurance Partners in a move which bolsters the fast-growing firm’s national private equity practice.

Bennetts and Ardonagh

Ardonagh’s Bennetts deal raises competition concerns: CMA

2020-09-16T13:46:00+01:00

The UK’s Competition and Markets Authority (CMA) has found Ardonagh Group’s £26mn ($33.9mn) deal to acquire motorcycle specialist broker Bennetts could lead to higher prices, less choice and worse services for policyholders in the UK.

Astonlark and Brunel

Aston Lark acquires Lloyd’s broker Brunel Professions

2020-09-11T08:36:00+01:00

Aston Lark, the acquisitive UK broker backed by Goldman Sachs, has acquired Lloyd’s broker Brunel Professions.

Marco and British Reserve Insurance Company Ltd

Eur500mn+ legacy start-up Marco acquires UK platform with Allianz’s BRIC deal

2020-08-24T15:45:00+01:00

Simon Minshall-led Eur500mn ($590mn) legacy acquisition start-up Marco Capital Holdings is to acquire British Reserve Insurance Company Ltd (BRIC), a UK non-life insurance company, from Allianz.

II-StateFarm-GAinsco

State Farm to buy non-standard auto specialist Gainsco for $400mn

2020-09-17T18:02:00+01:00

US insurance giant State Farm has agreed a deal to buy non-standard auto (NSA) insurer Gainsco for around $400mn in cash in what represents its first acquisition of an insurance company in its 98-year history.

RSG and All Risks

Cortezi and Nichols take leadership positions at RSGUM

2020-09-15T20:49:00+01:00

Nick Cortezi has been named chairman and CEO of Ryan Specialty Group’s RSG Underwriting Managers business, with his former All Risks lieutenant Matt Nichols assuming the role of president.

RPS

Expansive Risk Strategies builds out PE practice with Securitas deal

2020-09-11T23:37:00+01:00

Risk Strategies has acquired specialist Pennsylvania-based broker Securitas Insurance Partners in a move which bolsters the fast-growing firm’s national private equity practice.

Aon and WTW

Aon shares “attractive” ahead of WTW deal shareholder vote: Wells Fargo

2020-08-24T12:09:00+01:00

Aon shares currently trading at a price to earnings discount compared to MMC represent a compelling valuation and “attractive entry point for investors”, according to Wells Fargo’s Elyse Greenspan.

Total return (re)insurers – where are they now?

Total return reinsurers head down different paths

2020-08-19T14:41:00+01:00

News that Harrington Re is fielding interest from potential buyers that are understood to include legacy players is the latest example of a potential change of direction among the class of total return reinsurers that emerged between 2012 and 2016.

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