Private equity (PE)
Fitch places Brit on Rating Watch Negative
Fitch Ratings has placed Brit Insurance's Insurer Financial Strength rating of 'A' on Rating Watch Negative.
Apollo and CVC make new offer for Brit
Brit Insurance has received a new offer of £10.75 per share on cash from a consortium consisting of Apollo Management and funds advised by CVC Capital Partners.
Provident sale nears conclusion
Tom Callahan, the new president of GMAC Insurance, has insisted the insurer has "no plans" to divest of its remaining UK insurance asset, Car Care Plan.
BIS Countdown - finance raising: Back on the menu
With only a week to go before the inaugural British Insurance Summit, Seb Kafetz explains how the appetite for financing insurance ventures is alive and well despite continued economic turbulence.
LDC set to test market for £70m Davies sale
Private equity house Lloyds Development Capital is understood to be looking to test the market for realising its investment in claims management and loss adjusting firm Davies and may sell if an offer comes to match its price.
Former Towergate investor to wind down
The private equity firm linked with buying a 25% stake in Towergate 32 months ago has decided to wind-up its investments and return cash to investors after takeover talks broke down.
Refinancing helps Merlin cut losses
Merlin has admitted its ability to win new business has been boosted by its recent refinancing.
Long chase for true Brit
Little more than a month ago I mused on the vacant position of UK chief executive at Brit Insurance, as the insurer looked to replace Peter Burrows.
Interview - Stewart McCulloch: Sticking to his knitting
The new CEO of Garwyn talks to Mairi MacDonald about getting the loss adjuster back on track by sticking to its core strengths while expanding its regional focus.
Garwyn aims for client contact with City office
Liability loss adjusting specialist Garwyn has opened an office in the City of London for the first time in a bid to get closer to its customers.
Acromas claims anti-PE bias amid reported loss
Acromas Holdings, the parent group of insurance providers AA and Saga, has claimed "scaremongering" against private equity houses has seen the ongoing performance of the business masked by a £529m overall loss, caused by interest repayments.
Broker focus - exit options: Feathering the nest
Finding a favourable exit during the economic downturn has proved tricky for broker owners. Leigh Jackson reports on how the tide may be turning for those looking to sell.
Towergate: bond issue is still on 'to do' list
Towergate is keeping the brakes on its £665m bond issue in response to little improvement in the financial markets.
Lloyds Development Capital backs Chem-Dry MBO from Evander
The Evander Group has today announced the transfer and sale of Chem-Dry in the UK from Evander to Chem-Dry management, backed by Lloyds Development Capital.
Outgoing IAG UK boss Neil Utley backs £74m buyout
KBC Group and KBC Peel Hunt have reached agreement over a buy-out of KBC Peel Hunt for a total consideration of £74m.
Brit opens books to PE house as Apollo ups bid to £10.75 a share
Brit Insurance today confirmed that private equity house Apollo has submitted a revised indicative proposal to acquire the entire issued and to be issued ordinary share capital of the company at a price of £10.75 per share in cash.
Lloyd's & London market: Bargain hunt
It looks like investors searching for a piece of the action in Lloyd's can pick up a bargain right now, as depressed share prices shine a light on profitable businesses trading at a discount to their net asset value. Ralph Savage investigates whether a…
Brit opens books to PE house as Apollo ups bid to £10.75 a share
Brit Insurance today confirmed that private equity house Apollo has submitted a revised indicative proposal to acquire the entire issued and to be issued ordinary share capital of the company at a price of £10.75 per share in cash.
Private equity firm steps in with £115m MCS deal
Swedish restoration services firm Munters has sold its moisture control services business to private equity firm Triton in a move that will see a number of key partnerships in the UK insurance market change ownership.
Brit deal in the balance
Private equity house Apollo is not expected to up its offer for Brit, meaning the chances of the deal being successful are 50:50, according to Jefferies International.
Bluefin joins PE alliance
Axa-owned Bluefin has become an inaugural member of Equity Risk Partners Global, a worldwide alliance focused exclusively on the needs of the private equity sector.
Apollo-Brit deal given 50:50 chance as PE house tipped not to raise bid
Private equity house Apollo is not expected to up its offer for Brit, meaning the chances of the deal being successful are 50:50, according to Jefferies International.
Axa-owned Bluefin strikes alliance with US broker
Axa-owned Bluefin has become an inaugral member of Equity Risk Partners Global, a worldwide alliance focused exclusively on the needs of the private equity sector.
British Insurance Awards 2010: Cracking commercial
This year's winner, Heath Lambert, is a broker that has taken significant strides to enhance its UK operations and client service in recent years culminating in victory at the British Insurance Awards 2010 writes Andrew Tjaardstra.