Seize the day

Article Abstract:

There has never been a better time for acquisitions and mergers activities within the UK insurance industry, delegates were told during a conference held by Acquisitions Monthly in April 1998. The UK insurance market had remained steady in terms of numbers due to new players entering the market while other firms had been merged. Sun Life and Provincial Holdings chief executive Mark Wood discussed how his firm's merger with Axa Equity and Law had been handled sensitively to ensure staff were kept motivated while increasing the value of the two companies.

United Kingdom, Acquisitions and mergers, Practice

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Insurance industry consolidation kicks in at last. (the merger of Sun Alliance and Royal Insurance is conformation that the M&A boom in the European insurance industry is moving up a gear)

Article Abstract:

The merger of Sun Alliance and Royal Insurance would create a group with combined stock market value of about 6 billion pounds sterling and representing the largest consolidation in the European insurance industry. A further big deal is expected in the UK market, with others in the rest of Europe. Deals amongst the composites have been held back because of the size of the companies, and the key to the Royal and Sun Alliance deal was the common view of both chief executives.

Sun Alliance and London Insurance PLC, Royal Insurance Company PLC

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Norwegian banking giant formed

Article Abstract:

Merger and acquisition activity in the Nordic/Baltic region is led by the alliance between Norway's Postbanken and Den norske Bank, creating the country's largest financial business with assets totalling 315 billion Norwegian kroner. Other deals in the region include the plan by Sweden's Skandia and Norway's Storebrand to merge their property insurance operations, creating a Nordic non-life giant with revenues totalling some 22.9 billion Swedish krona.

Financial Services, Finance and Insurance, Banking industry, Scandinavia, Skandia AB, Storebrand A/S, Den Norske Bank, Postbank N.V.

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