Initial Public Offering (IPO)
Support for Direct Line Group's debt issuance plan 'delights' bosses
Direct Line Group bosses have expressed their "delight" after more than 40 financial institutions declared their support for the firm’s £500m planned subordinated debt issuance.
Editor's comment: Setting course on uncertain seas
This week two of the UK's insurance powerhouses made announcements that, although very different in their nature, aimed to position the respective firms for the future.
Post magazine - 26 April 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Cooper Gay private equity deal 'not concrete'
Cooper Gay Swett & Crawford has confirmed that the broking group's chief executive, Toby Esser, is in talks with potential private equity investors, although no deals have been struck yet.
Direct Line Group set to complete £500m planned subordinated debt issuance
Direct Line Insurance Group has announced it expects to complete a £500m issue of fixed/floating rate guaranteed subordinated notes due in 2042, and intends to seek a listing of the securities on the London Stock Exchange.
Brokers back potential DLG flotation citing interest in share options
NIG brokers have responded positively to the Direct Line Group split from RBS, some even raising the issue of potential share options if the group's mooted initial public offering bid is successful, the insurer has claimed.
Direct Line to support IPO by raising debt
Direct Line bosses are thought to be clearing the way to raise debt in order to achieve a £3.2bn IPO – making it one of the UK's biggest recent stock market listings.
Hyperion defends move to sell majority stake in CFC Underwriting
Hyperion chief executive David Howden has denied speculation that the sale of the firm’s majority stake in CFC Underwriting could signal a greater focus on the broking arm of its business.
Hyperion denies strategic shift to broking amid IPO plans
Hyperion boss David Howden has denied analyst suggestions that the decision to part company with CFC Underwriting could herald a shift towards a broking focus in light of an upcoming IPO bid.
Talks turn to Solvency II and IPO benefits as Project Noah claims wide support
The bosses behind the Project Noah flood solution believe proposals to establish a UK risk pool with £14bn of reinsurance capital could provide a crucial solvency boost for insurers with IPO ambitions.
Hastings reports profit up 63%
Hastings Insurance Group has announced its first calendar year consolidated results, showing pre-tax profit up 63% to £31m (2010: £19m).
Countdown to EIS: Q&A with panel member Jan Auerbach
Jan Auerbach is senior vice president for the European risk management division at Chubb and will be taking part in a panel debate on the varying role of the broker across Europe at Insurance Strategy Europe taking place in Brussels on Wednesday 21 and…
Brokers unconcerned as RBSI rebrands as Direct Line
Brand Finance heralds move as sensible
Directors' and officers': Under the spotlight
With boardrooms coming under increasing scrutiny, the potential for expansion in the D&O market is being recognised by savvy insurers, especially in the SME space.
Editor's comment: Tempting fate on features
Commissioning editorial copy can be a bit like tempting fate. This week’s broker-focused feature on mergers and acquisitions reflected back over 2011 as its starting point, when first conceived a couple of months ago, with a writer assigned to analyse…
ING to sell Asian insurance business separately
ING Groep NV has dropped plans to create an Asian-European insurer and is considering selling its Asian business separately as European markets have worsened.
Review of the year - General insurance: Regulatory dramas
2011, a year dominated by regulatory and legislative change, could yet prove to be a landmark 12 months for the insurance industry.
Interview - Edward Fitzmaurice: Broking promises
With Hastings Direct on the cusp of becoming a top five broker and securing its one millionth customer, 2012 could be a landmark year for chief executive Edward Fitzmaurice
Chinese insurance giant PICC P&C unveils HK$6.13bn IPO plan
Chinese insurance group PICC Property and Casualty has nnounced plans to raise HK$6.13bn through a listing on the Hong Kong Stock Exchange.
Broking supplement - Interview Toby Esser: Expansive thinking
Toby Esser talks about striking serious deals, his acquisitive ambitions and plans to penalise paper-lovers
Esure hires banker to prepare for IPO
Esure, the motor insurer set up by insurance entrepreneur Peter Wood, has refused to comment on speculation that it has hired Deutsche Bank and JP Morgan to prepare the company for floatation.
Mooted HSBC GI sale a sign of the times
HSBC’s mooted plan to sell its general insurance arm is part of a growing trend of banks “retrenching”, according to an analyst.
A&A seeks CEO before Euro push
Non-standard motor broking specialist A&A Group has outlined ambitious plans to expand its European footprint, ahead of a potential cash injection.
Interview - A&A Group: A constantly evolving company
Starting as a two-man operation in a house in Twickenham, A&A Group has grown exponentially since its humble beginnings. Jonathan Swift talks to Tony Allen and Steve McPherson about keeping pace with changes in the market.