Direct Line agrees £3.7bn Aviva takeover insurance Direct Line’s board has agreed to accept Aviva’s £3.7bn takeover of the insurer, bringing to an end the firm’s run as an independent company. In a stock exchange announcement this morning, Direct Line’s board endorsed Aviva’s latest £3.7bn offer for the business. Under the terms of the deal, shareholders will receive 0.2867 Aviva shares, along [...]
The intersection between the capital markets and the insurance industry Partner Insurance is part of the DNA of global capitalism, but due to concerns around complexity and liquidity, the market has historically struggled to attract the capital needed for growth. Aon’s Capital Advisory division works with insurance clients to enhance return on capital by matching risk with capital to make better business decisions. It’s been built [...]
Lloyd’s of London insurer Canopius favours IPO in private equity exit insurance The private equity owners of Canopius plan to list the Lloyd’s of London insurer on the UK stock market next year, City AM has learned. A consortium led by US investor Centerbridge Partners is leaning towards an IPO rather than sale as part of its review into exit options for Canopius, according to a person [...]
Tensions flair at Direct Line following Aviva takeover bid December 1, 2024 A battle is brewing over Direct Line about whether to accept any further takeover bids from Aviva, as its CEO seeks more time to turn the business around. Talking to the Sunday Times following the rejected £3.3bn bid from Aviva last week, Direct Line CEO Adam Winslow urged shareholders to back his turnaround plan over [...]
How Aviva and Ageas could go head-to-head in Direct Line bidding war November 29, 2024 The stage is set for a bidding war after Aviva threw Direct Line back into the takeover spotlight with a £3.3bn approach.
Direct Line shares surge after £3.3bn Aviva takeover approach November 28, 2024 Shares in Direct Line surged as much as 40 per cent on Thursday morning after the insurer rejected a £3.3bn takeover approach from larger rival Aviva.
Direct Line rebuffs ‘highly opportunistic’ approach from Aviva November 27, 2024 In a stock exchange announcement, Aviva confirmed that it had submitted an offer last week, which valued the FTSE 250 firm at 250p per share.
Direct Line considers cutting 550 roles as motor market remains ‘challenging’ November 11, 2024 Direct Line is considering cutting around 550 roles as the insurance broker battles with "challenging" market conditions.
David Howden: I will live and breathe the British and Irish Lions tour November 9, 2024 Howden Group CEO David Howden has insisted he will live and breathe the British and Irish Lions next year in what will be the insurance firm’s first tour as front-of-shirt partner. Excitement has been steadily increasing ahead of the tour to Australia, where the team made up of rugby players from England, Scotland, Wales and [...]
LMA: Driving change in Lloyd’s £50bn marketplace October 21, 2024 The UK’s £50bn specialist insurance market is a powerhouse, one of the tokens is the Lloyd’s Market Association, which are at work to drive the markets evolution