State Farm to buy non-standard auto specialist Gainsco for $400mn
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.
GRP makes first Republic of Ireland acquisition
UK broker consolidator Global Risk Partners (GRP) has completed its majority share purchase of leading Irish commercial broker, Crotty Insurance Brokers.
OneBeacon buys renewal rights to Brit public entity book
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.
Ardonagh’s Bennetts deal raises competition concerns: CMA
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.
Cortezi and Nichols take leadership positions at RSGUM
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.
Expansive Risk Strategies builds out PE practice with Securitas deal
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.
Ardonagh’s Bennetts deal raises competition concerns: CMA
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.
Aston Lark acquires Lloyd’s broker Brunel Professions
Aston Lark, the acquisitive UK broker backed by Goldman Sachs, has acquired Lloyd’s broker Brunel Professions.
Eur500mn+ legacy start-up Marco acquires UK platform with Allianz’s BRIC deal
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.
State Farm to buy non-standard auto specialist Gainsco for $400mn
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.
Cortezi and Nichols take leadership positions at RSGUM
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.
Expansive Risk Strategies builds out PE practice with Securitas deal
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 shares “attractive” ahead of WTW deal shareholder vote: Wells Fargo
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 reinsurers head down different paths
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.