Paragon Brokers’ Post

So, what does Aviva's entry into the Lloyd's marketplace really mean? I quizzed Aviva's Jason Storah to find out all the details - read my full article here... #insurance #UKGI #Londonmarket #acquisition #insurer

Top 3️⃣0️⃣ #ITtrending stories of 2023 🔥 At number 9 from December: RSA completes personal lines exit with sale of UK operations to Admiral https://lnkd.in/eBgqd-3h #insurance #insuranceindustry #insurancenews #ukgi #insurers #brokers

Rounding off 2023 on a high! 📈 It has been a great year here at SEP Insurance. We have just experienced our most successful month, and have also recently secured our highest value long term renewal to date. Read more about our positive year in the below feature in the Liverpool Chamber.... https://lnkd.in/eSAj99m2 #recordyear #businesssuccess #businessgrowth #insuranceindustry

The Ardonagh Group to acquire Australian-headquartered and ASX-listed PSC Insurance Group for A$6.19 in cash per PSC Share. Ardonagh intends to merge PSC’s #Australia and #NewZealand operations with Envest Pty Ltd, acquired by the Group in February 2023, becoming one of Australia’s largest privately owned insurance distribution platforms, placing A$3.3 billion in gross written premium annually. Envest CEO Gregory Mullins will oversee the combined operations for Australia and New Zealand. PSC’s UK operations will be merged into Ardonagh Specialty and Ardonagh Advisory, further building the Group’s position as one of the leading players in UK wholesale and retail broking. The Scheme Cash Consideration represents an implied equity value of A$2.256 billion and enterprise value of A$2.429 billion. Certain PSC directors and managers are rolling approximately 26% of their aggregate shareholdings in PSC into shares in The Ardonagh Group (“Rolling PSC Shareholders”). Ardonagh intends to fund the transaction with approximately 50% equity from existing shareholders, Madison Dearborn Partners, LLC and HPS Investment Partners, LLC, and 50% debt including existing and new facilities. The transaction is expected to be near leverage neutral on a pro forma basis. PSC is a diversified insurance services group which has over 40 trading brands and operations in #Australia, the United Kingdom, #Ireland, #HongKong, #Vietnam, New Zealand, and #Bermuda employing 900 people and managing more than A$2.59 billion in global gross written premium. PSC was founded in 2006 by Chairman Paul Dwyer who will join the Ardonagh senior management team upon completion of the deal and work closely with the leadership teams in Australia and Ardonagh Specialty to integrate and grow the combined businesses. Ardonagh made its first acquisition in Australia in February 2021 with the purchase of Resilium Insurance Broking. It acquired Brisbane-headquartered Envest in February 2023 and merged both businesses into the Envest platform. Since then, Ardonagh has backed Envest to complete over 30 acquisitions, building gross written premium to more than A$2.1 billion across Australia. "The acquisition, which has secured the unanimous recommendation of PSC’s board, is a significant milestone in the global growth of Ardonagh and underlines our strong commitment to the markets we serve. Ardonagh has been assembled as a bastion of independence and scale, aligning high calibre businesses and management teams around quality advice for clients and entrepreneurial connectivity within the group. PSC’s journey and values align with our own and its portfolio of highly complementary businesses provides an abundance of opportunity to strengthen our positions in Australia, wholesale and specialty markets.” David Ross https://lnkd.in/ej6_XBsb

#Arch UK's Chief Executive Steve Bashford talks exclusively with the Insurance Times about the journey Arch UK Regions has been on over the last few years. During the article, Steve discusses some of the main challenges facing our brokers today and how Arch is looking to combat those key issues now and for the long-term. “We deal with brokers the way they want – we’re not going to force anybody to take an optimised trading route irrespective of premium size.”   “The regional business is more focused on providing consistency of service and strong relationships to its broker partners while growing alongside them.”   “The advantages of a physical regional presence outweighed the costs associated with maintaining it.” “Transparency is really important because it builds trust – and it’s trust that builds relationships over time. We’ve been really clear about focusing on our core products and expertise and addressing the fundamental needs of our customers.” Please click below to read the full article (note: subscription required).   #PursuingBetterTogether #BrokerPartner #Fivestarinsurer

CG's Brandon Schuh, discusses with Zag Daily the specialized Sharing Economy services provided by US insurance brokers. He sheds light on the significant payouts within this sector and emphasizes that it's inevitable for operators to soon implement rider ratings. Read the full article here: https://lnkd.in/eBMpRp8K #sharingeconomy #ebikes #businessinsurance #ESOPCG

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Konsileo has been shortlisted for the Best Insurance Employer - SME Award in the Insurance Post 2024 British Insurance Awards.   This is the third year in a row we’ve been in this shortlist, and it doesn’t get old.    For me, the fact that we continue to live our values and deliver a great working environment for successful broking is well worth celebrating - whether we go on all the way to win this year or not.    We’ve always promised our people that they will be the most professional, happiest and best rewarded brokers in the business. We do that by giving people autonomy, great structures and tools to do their jobs - and opportunities and support to help them develop and thrive.    And it’s paying off – not just in terms of how people feel about working here, but how we protect our clients and perform as a business.    Making this year’s shortlist means we’re still on the right path, and proving that our recipe for doing broking differently works long-term.    If you’d like to join us on the journey, and work for one of the most consistently-voted best insurance employers around, give me a ring on 07737603613. https://lnkd.in/eK-iBdx5

As always, it was great to catch up with Ecclesiastical Insurance UK's Sarah Willoughby recently to talk about high net worth trends and how the insurer is growing across this line of business. Thanks for the interesting conversation! Get the full details on Willoughby's division at Insurance Times... #UKGI #insurance #insuranceindustry #insurancenews #b2b #insurers #insurer #highnetworth #personallines #brokers #broker

At the beginning of the pandemic, many predicted there would be a decline in the size and status of offices held by the insurance industry in the City of London.   Today it seems those predictions were premature as the exciting buzz of the City is firmly back. Alongside fellow industry peers, our Chief Commercial Officer, Gary Fitzpatrick shares his thoughts on the topic with Insurance Post and Emma Ann Hughes.    Check out the full article - https://lnkd.in/dsXni2YE   #Insurance #InsuranceIndustry #CityOfLondon