Fri, 13 Jan 2012 | DIVISION SALE
The French insurer group Groupama has put its brokerage business and UK operations on the market.
Deutsche Bank has been hired to advise on the sale process for the UK underwriting division and insurance broking businesses, which includes the Manchester-based Bollington, Carole Nash and Lark.
The UK business had received several expressions of interest for some of its more profitable aspects, due to the current difficult trading environment. It is expected that up to £300 million will be achieved in a sale.
François-Xavier Boisseau, the firm’s UK chief executive, told the Insurance Times: “The sale process will start very soon. The group will decide on the quality of the offers.”
“What is very true is that the group appreciates the valued of its UK operation. When we publish the results for 2011, they will show again a very significant increase in profit and demonstrate that the UK is a valuable asset to the group”, he continued.
Groupama was formed from regional farmers’ mutuals over a century ago. One of its largest international businesses is based in Britain. The UK operations focus on property and casualty insurance.
Possible bidders for the underwriting business include the French mutual Covéa and RSA. Advent International is believed to be interested in its broking businesses.
This UK-based company is a leader in specialist cleaning services, boasting top-tier equipment and an impressive client retention rate, while accredited by several key industry bodies. With an experienced operations manager capable of independently d...
This business, known for its expertise in bespoke modular and containerised data centres, stands out with its impartial product advice and commitment to quality, as evidenced by its ISO 45001 and ISO 9001 certifications. With 70 active clients and a...
his well-established company offers unique and premium behavioural training solutions and fully managed feedback services, making it a leader in the learning and development sector. With a strong client base and a reputation for facilitating high lev...
09
|
Jul
|
Equipment hire firm divests welfare van fleet | DIVISION SALE
Newcastle-based equipment hire firm Nixon Hire has divested ...
09
|
Jul
|
Former care home to reopen following acquisition | COMMERCIAL PROPERTY
A former care home in Nottingham is set to reopen following ...
09
|
Jul
|
Financial advice consolidator Finli Group completes six more acquisitions | BUSINESS SALE
National financial advice firm Finli Group has continued its...
09
|
Jul
|
Engineering group divests subsidiaries in strategic move | BUSINESS SALE
The Calder Group, a pan-European engineering group headquart...
09
|
Jul
|
Financial advice consolidator Finli Group completes six more acquisitions | BUSINESS SALE
National financial advice firm Finli Group has continued its...
09
|
Jul
|
Former care home to reopen following acquisition | COMMERCIAL PROPERTY
A former care home in Nottingham is set to reopen following ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.