|Jan 2019||£185 million||Advising the Co-operative Group on the sale of its insurance underwriting business to Markerstudy and agreement of a 13-year distribution agreement for home and motor insurance.|
|Jan 2019||Undisclosed||Advised Inflexion on its minority investment in Granite Underwriting, a leading specialist motor insurance business.|
|Oct 2018||£102 million||Advised Munich Re on the sale of MSP Underwriting to Cincinnati Financial.|
|Sep 2018||£165 million||Advising The Ardonagh Group on the acquisition of Swinton Group from Covéa|
|Jul 2018||Undisclosed||Advised The Clear Group on its investment from ECI Partners.|
|Jun 2018||Undisclosed||Advised AXA on the sale of PMI broker The Health Insurance Group to Ardonagh.|
|Dec 2017||Undisclosed||Advised Pollen Street Capital on the acquisition of Miles Smith, a leading schemes and affinities insurance broker.|
|Oct 2017||Undisclosed||Advised Groupama on the sale of insurance brokers, Carole Nash and MasterCover, to Ardonagh.|
|Aug 2017||£1.02 billion||Advised LV= on the sale of a 49% stake in its general insurance business to Allianz and the creation of a joint venture in the UK general insurance market.|
|Jul 2017||£478 million||Advised Axis Capital on its recommended cash acquisition of Novae Group.|
|Jun 2017||Undisclosed||Advised Lark Group on its merger with Aston Scott.|
|Apr 2017||Undisclosed||Advised Ryan Specialty Group on the sale of Ryan Direct Group to private equity firms HPS Investment Partners and Madison Dearborn Partners.|
|Mar 2017||Undisclosed||Advised Primary Group on the sale of UK General to J.C. Flowers & Co.|
|Nov 2016||£295 million||Advised AXA on the sale of its UK P&C commercial broker Bluefin to Marsh.|
|Apr 2016||Undisclosed||Advised the shareholders of Lonmar Global Risks on the sale of a majority stake to Global Risk Partners.|
|Dec 2015||Undisclosed||Advised Oakley Capital on the sale of Broadstone to Livingbridge.|
|Nov 2015||Undisclosed||Advised Congregational & General Charitable Trust on the sale of Congregational & General Insurance to Inter Hannover.|
|Sep 2015||£258 million||Advised Jelf Group plc on the recommended cash acquisition by Marsh.|
|Aug 2015||Undisclosed||Advised Wesleyan Group on its acquisition of DPAS.|
|Jun 2015||Undisclosed||Advised Marsh on the acquisition of SME Insurance Services, a specialist SME commercial insurance broker.|
|May 2015||Undisclosed||Advised the shareholders of RFIB Holdings Limited on the sale of a majority stake to Calera Capital.|
|Mar 2014||Undisclosed||Advised Primary Group on the sale of Lorica Employee Benefits to Aon.|
|Feb 2014||Undisclosed||Advised Direct Line Group on the sale of TRACKER to Lysanda.|
|Aug 2013||Undisclosed||Advised Wesleyan Assurance Society on its acquisition of Practice Plan Group.|
|Aug 2012||Undisclosed||Advised the management team and minority shareholders in Lark Group on the acquisition from Groupama.|
|May 2012||Undisclosed||Advised Insurance Australia Group on the sale of UK specialist home insurance broker, Insurance Dialogue Limited.|
|May 2012||Undisclosed||Advised Europ Assistance on the sale of its UK insurance and assistance business to management.|
|Apr 2012||£50 million||Advised AXA on the sale of Bluefin Corporate Consulting to Capita.|
|Apr 2012||Undisclosed||Advised Groupama on the sale of its UK healthcare insurance business to Simplyhealth.|
|Mar 2011||£888 million||Advised Brit on its sale to Apollo and CVC.|
|Jul 2010||£138 million||Advised Standard Life on the sale of Standard Life Healthcare to Discovery / PruHealth.|
|Dec 2009||Undisclosed||Advised Brit on its redomiciliation to the Netherlands.|
|Mar 2009||£24 million||Advised Liverpool Victoria on its sale of Hero Insurance Services to Capita.|
|Jan 2009||£74 million||Advised Insurance Australia Group on the sale of its UK mass market distribution businesses to Swinton / management.|
|Aug 2008||£150 million||Advised Liverpool Victoria on its recommended cash offer for Highway Insurance Group Plc.|
|May 2007||£170 million||Advised Cerberus’s Investment Committee on GMAC’s acquisition of Provident Insurance.|
|May 2007||£44 million||Advised Liverpool Victoria on its acquisition of Britannia Rescue from the Civil Service Motoring Association.|
|May 2007||Undisclosed||Advised Brit on the sale of its majority stake in RI3K.|
|Sep 2006||Undisclosed||Advised abc insurance on its sale to Liverpool Victoria, management buy-in and new investment of $900m.|
|May 2006||£182 million||Advised Misys on the sale of its general insurance software business to Montagu Private Equity.|
|Feb 2005||Undisclosed||Advised Travelers on the sale of Cassidy Davis to Jubilee Managing Agency.|
|Jan 2005||Undisclosed||Advised LRA and BAIC on the sale of Airclaims to an MBO team backed by Lloyds Development Capital.|
|Oct 2004||Undisclosed||Advised Prudential on the establishment of PruHealth.|
|Jan 2004||£29 million||Advised Euclidian on the management buy-out and capital raising sale of pipeline to Berkshire Hathaway.|
|Jul 2003||£161 million||Advised PRI Group plc on the takeover by Brit Insurance.|
|Apr 2003||£147 million||Advised Royal & SunAlliance on the sale of its Healthcare & Assistance business to an MBO/MBI team backed by Barclays Private Equity.|
|Nov 2001||Undisclosed||Advised CGNU on the sale of Sabre Insurance Company Limited to BDML Limited.|
|Nov 2001||Undisclosed||Advised CGNU on the sale of Marlborough Underwriting Agency and its exit from London Market Business.|
|Nov 2001||£353 million||Advised Churchill Insurance on its acquisition of the UK personal and general insurance business from Prudential.|
|Jan 2001||Undisclosed||Advised QBE on the sale of Iron Trades Healthcare to Groupama.|
|Jun 1999||£184 million||Advised Skandia on the merger of its P&C operations with those of Storebrand to form “if...”|
|May 1999||£3.5 billion||Advised AXA on its acquisition of Guardian Royal Exchange.|
Fenchurch is pleased to have advised AXIS Capital (“AXIS”) on its recommended cash acquisition of Novae Group (“Novae”) for £478 million.
The acquisition combines a leading specialty Lloyd's franchise with a world-class international specialty (re)insurer, strengthening a broad, balanced and efficient global underwriting platform.
Albert Benchimol, President & CEO of AXIS, commented: “Fenchurch’s knowledge of the Lloyd’s sector and UK Takeover Code were critical contributions to our consummation of this transaction. We were well-served by the entire team which was highly engaged throughout the process.”View / Download PDF >
Fenchurch is pleased to have advised the shareholders of Lark Group on the merger with Aston Scott, backed by Bowmark Capital.
Founded in 1948, Lark Group is one of the UK’s pre-eminent independent insurance brokers, with specialist capabilities across commercial lines, mid to high net worth private clients and employee benefits, serving over 50,000 clients. The merger with Aston Scott will create one of the UK’s largest independent insurance brokers, controlling over £240m of GWP.
Graham Lark, Chairman of Lark Group, said: “Throughout the transaction, the professionalism and commitment shown by the Fenchurch team were exceptional. Fenchurch’s insight and senior level access into the insurance market ensured a highly satisfactory outcome for all of the shareholders, our colleagues and our clients.”View / Download PDF >
Fenchurch is pleased to have advised Ryan Specialty Group (“RSG”) on the sale of Ryan Direct Group (“RDG”) to HPS Investment Partners and Madison Dearborn Partners.
RDG is a leading provider of insurance solutions to the UK general insurance industry with a particular expertise in the specialist personal lines sector.
Michael Rice, Managing Director of RSG, commented: “Fenchurch brought an intimate knowledge of the potential buyer universe for Ryan Direct Group and an in-depth understanding of the key valuation drivers for the business. Their clear guidance and strategic advice allowed us to execute a crisp sale process and deliver a successful outcome for all parties.”View / Download PDF >
Fenchurch is pleased to have advised Primary Group on the sale of UK General to J.C. Flowers & Co. for an undisclosed consideration.
UK General is the UK’s largest personal lines MGA, offering specialist insurance products across the property, leisure & lifestyle, income protection, financial loss, motor financial, warranty, travel and personal accident categories.
Karen Beales, Managing Director of UK General, said: “Fenchurch’s in-depth knowledge of the personal lines insurance sector was critical in positioning the equity story for UK General. The level of senior engagement throughout the project was invaluable and helped ensure a successful outcome for all stakeholders in the business.”View / Download PDF >
Fenchurch is pleased to have advised AXA on the sale of its UK P&C commercial broker Bluefin Insurance Group (“Bluefin”) to Marsh for £295m.
Bluefin is a leading insurance broker, providing services to private individuals, small businesses, and large corporates in the UK, with approximately 1,500 employees based in 45 locations. It also operates a broker network and a growing MGA business.
Marsh will combine Bluefin with Jelf to create one of the UK’s largest insurance brokers for mid-size and SME companies, serving over 250,000 clients in 80 locations across the UK.
Fenchurch also advised Jelf on its sale to Marsh in 2015.
Amanda Blanc, CEO of AXA UK commented “Fenchurch helped us develop a bespoke and confidential process which resulted in AXA securing excellent transaction terms through an accelerated timetable whilst minimising execution risk”.
Fenchurch is pleased to have acted as financial adviser to Lonmar Global Risks on the sale of a majority stake to Global Risk Partners. Lonmar’s management team, led by David Pexton, Chief Executive, will continue to lead the business and retain a significant equity stake following completion of the transaction.
Established in 1977, Lonmar is a leading independent Lloyd’s broker based in London. Serving a global client base in over 70 countries, including local intermediaries and insurers, Lonmar provides expertise and access to specialist underwriters and insurance capacity in London and other leading markets, worldwide.
Lonmar specialises in handling large-scale, complex and specialist risks, including Accident & Health, Agencies, Binding Authorities, Bloodstock, Casualty, Fine Art, Specie, Marine, Professions and Property.View / Download PDF >
Fenchurch is pleased to have advised Oakley Capital on the sale of Broadstone to Livingbridge.
Broadstone is a leading, mid-market employee benefits consulting firm based in London.
Broadstone provides pensions, employee benefits, actuarial and investment consulting advice to small and medium sized employers, pension scheme trustees and individual pension scheme members.
View / Download PDF >
Fenchurch is pleased to have advised Congregational and General Charitable Trust on the sale of Congregational & General Insurance plc (“C&GI”) to Inter Hannover.
C&GI is a leading specialist insurer of places of worship. The sale includes C&GI’s interest in Integra the home insurance MGA jointly developed with Inter Hannover.
Margaret Atkinson, Chairman of Congregational & General Charitable Trust, commented: “Fenchurch played a pivotal role in orchestrating this transaction, successfully balancing the objectives of multiple stakeholders and demonstrating a clear understanding of our charitable status. Their senior team remained fully committed and provided valuable advice over an extended period.”View / Download PDF >
Fenchurch was pleased to act as financial adviser to Jelf Group plc on the recommended all cash acquisition by Marsh. The 215 pence per share acquisition values Jelf’s aggregate equity share capital at £258m.
Jelf is a leading provider of insurance, healthcare and financial advisory services to the UK mid-market and SME sectors. Following its establishment in 1989, Jelf was admitted to trading on the AIM market in 2004. Capital Z became the company's largest shareholder through a secondary market transaction in 2010.
Since 2004, Jelf has delivered sustained growth in revenue from £8.5m to £82.6m in 2014. Growth has been achieved through a combination of organic growth and strategic acquisitions.
Joining the Marsh group will provide Jelf with the opportunity to accelerate the achievement of its strategic and financial objectives and will enable its shareholders to realise value today at an attractive multiple.View / Download PDF >
Fenchurch is pleased to have acted as financial adviser to RFIB Holdings Limited on the sale of a majority stake to San Francisco-based private equity firm, Calera Capital. Management and employees of RFIB will retain a significant equity stake in the business.
RFIB is a leading, mid-market, Lloyd’s insurance and reinsurance broker based in London. The business focuses on marine, non-marine and specialist classes of business where it has superior technical and territorial knowledge. With an established presence in eleven locations, it is a truly international broker with exposure to both developed economies and emerging markets.
Jonathan Turnbull, Chief Executive of RFIB, commented: “Fenchurch’s technical expertise and strong execution skills helped us achieve a successful outcome to a complex transaction involving various stakeholder interests. We were particularly impressed by their commitment to achieving a successful conclusion and the high quality of advice and support we received at all stages of the transaction.”
View / Download PDF >
Note – includes transactions advised on by Fenchurch team members at predecessor firms