Connection Capital LLP’s Post

M&A deal volumes for insurance distribution in H1 2024 are matching the record-breaking transactions of 2023. There are notable variances in the mix and scale of deals. Check out MarshBerry | Europe ViewPoint, written by my great colleague John Nisbet, to uncover the driving forces behind this activity in the United Kingdom (UK), the key buyers, and the entities being acquired. #Insurance #brokers

Great feature with Simon McGill. How do brokers grow their schemes and what support can insurer partners offer? Ecclesiastical Insurance UK has a range of tools but the secret sauce comes from the quality of the engagement with the broker and the understanding of their clients needs

The Ardonagh Group, the London-based independent #insurance distribution platform, announced that PSC Insurance Group Ltd.’s shareholders voted in favor of its proposed acquisition. The #transaction, which is valued at A$2.3 billion (US$1.6 billion) and was first announced in May 2024, is expected to close on or about Oct. 11, 2024. Ardonagh said the deal will strengthen its global position in the retail, specialty and wholesale #broking markets to deliver greater scale and efficiency benefits to clients, insurers, brokers and agencies. David Ross, CEO of The Ardonagh Group welcomed the support from PSC shareholders. “The support from PSC #shareholders highlights the sound rationale in merging these two leading businesses,” Ross commented. “PSC’s culture and values are closely aligned with ours, and its portfolio of complementary businesses offers significant opportunities to enhance our presence in Australia, as well as in wholesale and specialty markets globally. We’re excited to get to work.” “PSC was started with just five people 18 years ago. We are proud to have reached this milestone and thankful to the #colleagues who have been on this remarkable journey with us as we built trust and equity in the market,” according to PSC Chairman Paul Dwyer. “We now look ahead to joining a global team in Ardonagh who share our drive and values. We believe this deal not only maximises value for PSC shareholders but also offers a strong growth #platform for PSC colleagues and clients with Ardonagh globally.” The scheme is subject to approval by the Federal Court of Australia at a hearing scheduled for Oct. 1, 2024. The #transaction is expected to close on or about 11 October 2024. Source: Insurance Journal #Insurance #MergersAndAcquisition #Management #Strategy

It is always a pleasure to catch up with Ageas UK's Ant Middle - a thoroughly lovely gent and interesting to boot. In this article, he tells me how the insurer is wrapping up its current strategic cycle and what its key focuses will be for its next medium-term strategy. Read the full article on Insurance Times... #UKGI #personallines #insurance #insurer #peopleinterview #interview

My colleague Somers Brewin has written an interesting insights article looking at property defects within a W&I policy and importantly what insurers are seeking to when considering making an exclusion with regards to property defects within a corporate real estate transaction. #lockton #insurance #realestate #commercialrealestate

According to MarshBerry Chairman & CEO, John Wepler, brokers with high “quality of growth,” or systems and policies in place to generate consistent expansion, see high valuations and stable terms, but lower-performing brokers may have to take more of their consideration in earnouts that depend on future revenue. Read more insights from John in the latest edition of Business Insurance where they showcase the 100 Largest Brokers of U.S. Business. #MarshBerry #FirstChoice #MergersAndAcquisitions #Insurance #Brokers

R&Q Insurance Holdings Ltd Appointment of Joint Provisional Liquidators and Related Matters. Further to the announcement on 24 June 2024 explaining that on 21 June 2024 R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company") had filed in the Supreme Court of Bermuda an application to appoint joint provisional liquidators ("JPLs") to oversee the liquidation and ultimately the winding up of the Company, a hearing of an application took place at 11 am (Atlantic Daylight Time) yesterday at which Mike Morrison, Mark Allitt and Charles Thresh of Teneo #Bermuda Limited were appointed as JPLs of R&Q. Consequently, Deutsche Numis informed the Company of its intention to resign as Nominated Adviser and Broker to the Company with immediate effect. The Company's shares remain suspended from trading and pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the admission of the Company's shares to trading on AIM will be cancelled. The Company has no intention of appointing a replacement Nominated Adviser. Shortly following the appointment of the JPLs, Jeffrey Hayman, William Spiegel , Thomas Solomon, Philip Barnes, Eamonn Flanagan, Jo Fox, Lawrence Hirsh, Jerome Lande and Robert Legett tendered their resignations as directors of the Company. As a consequence of the provisional liquidation, it's anticipated that there will be very little, if any, chance of any value accruing to the Company's shareholders. https://lnkd.in/eS3Ua8Gv