Articles by Leonard Kehnscherper

Zurich Buys Stake in UK M&A Insurer to Fuel US, Europe Expansion

Zurich Insurance Group has agreed to acquire a minority stake in Icen Risk, a company that specializes in insuring mergers and acquisitions. The transaction will see Zurich take a “significant minority” in London-based Icen and will help support its growth …

Allianz Global Investors Says It Is Cutting Some Roles

Allianz Global Investors, the smaller of the two asset managers owned by German insurance giant Allianz SE, is cutting some roles as it looks to make changes to its organizational structure. “Some tasks and elements of our operation may no …

Ardonagh Set to Raise Up to $2.5 Billion to Fuel Expansion Spree

Ardonagh Group Ltd. is nearing a deal to raise as much as $2.5 billion from investors to help fuel the private equity-backed insurance broker’s rapid growth. The London-based firm is expected to close the capital-raise this summer in an oversubscribed …

Howden Said in Talks to Buy Insurance Broker Risk Strategies

Howden, one of the world’s largest closely held insurance brokers, is in talks to acquire Risk Strategies, according to people with knowledge of the matter. The talks to acquire Risk Strategies, which is ultimately backed by private equity firm Kelso …

Ardonagh Reaches $14 Billion Valuation With Stone Point Investment

Ardonagh Group has secured new investment from Stone Point Capital, almost doubling the valuation of the UK insurance broker to $14 billion in three years, according to people familiar with the matter. The deal will see Greenwich, Connecticut-based Stone Point …

Aviva CEO Amanda Blanc Conquers Detractors and Direct Line

Amanda Blanc is determined to steer Aviva Plc to one of the biggest takeovers in its history, a highlight in a storied insurance career where she’s stood up to challenges including activist shareholders and sexist barbs. If her £3.6 billion …

Aviva Reaches Initial £3.6 Billion Deal to Buy Direct Line

Aviva Plc reached a preliminary agreement to buy Direct Line Insurance Group Plc for £3.6 billion ($4.6 billion) in a deal that would create the UK’s largest motor insurer. London-listed Aviva sweetened its bid in the latest negotiations with Direct …

Private Equity Tie-Ups With Insurers Create Risks, BOE Says

Private equity’s advance into the insurance sector exacerbates the risk of “fire sales” that disrupt the functioning of financial markets, the Bank of England warned. A growing number of PE firms in the US have acquired life insurers, while British …

UK Watchdog Aims to Improve Whistleblower Procedures After Backlash

Britain’s markets watchdog is aiming to improve its procedures for finance workers who report on suspected wrongdoing after finding that some whistleblowers didn’t feel listened to enough and perceived the regulator as reluctant. The Financial Conduct Authority now seeks to …

City of London Workers Pushing for Cross-Border Remote Working: Survey

Finance workers are pushing for simpler rules for cross-border remote working, the latest sign that the pandemic-fueled appetite for flexible work isn’t abating. The UK government, which launched a review into cross-border working rules earlier this year, should adopt common …