Praxis second acquisition boosts pension offering
PraxisIFM is extending its pension services with the acquisition of a 50% stake in RiskCo Group in the Netherlands.
M&A Deals
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More IFAs on the hunt for acquisitions than selling up
IFA consolidation could be reaching a tipping point with more buyers than sellers of financial advisory businesses, according to M&A experts.
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Natixis makes Australia acquisition
Natixis Global Asset Management will acquire a majority stake in Australia’s Investors Mutual Limited (IML) to take advantage of the domestic retail market and A$2.3trn (£1.4trn, $1.8trn, €1.5trn) superannuation industry.
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Progeny acquires complex client advice specialist
Wealth manager and legal adviser Progeny Group has acquired Chestergate Financial Planning.
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Holborn Assets in Malaysia push
UAE-based international advice company Holborn Assets has entered the Malaysia market with the acquisition of Kuala Lumpur-based Greenwood Private Wealth Management.
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Sanne to acquire $8.3bn Luxembourg firms
Global alternative asset and corporate administration services provider Sanne has agreed to acquire Luxembourg Investment Solution (LIS) and Compliance Partners (CP).
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AIA pays $2.4bn for Aussie and New Zealand life insurers
The Commonwealth Bank of Australia has sold its life insurance businesses in Australia and New Zealand to AIA Group for A$3bn (£1.8bn, $2.4bn, €2bn).
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AXA sell off in Hong Kong sees high demand, press report
Around two dozen bidders are competing to buy the Hong Kong wealth management unit of French insurance giant Axa SA, according to Reuters.
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Generali sells Dutch business to local insurer for €143m
Italian insurer Generali has agreed to sell its Dutch operation to the former Fortis insurance arm ASR Nederland for €143m (£129m, $171m).
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Momentum Pensions to target rival Sipp providers for growth
International Qrops provider Momentum Pensions has announced it intends to grow the self invested personal pension (Sipp) part of its business by acquiring rival companies.
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Canada Life buys annuity provider Retirement Advantage
Canada Life, the UK arm of international financial services group GreatWest Lifeco, has agreed to buy specialist annuity provider Retirement Advantage for an undisclosed sum, the company announced in a statement.
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Phoenix squeezes more cash out of Axa deal than expected
Phoenix Group, Britain’s largest closed life fund consolidator, doubled operating profit during the first six months of 2017 as it said the cash earned from the Axa acquisition last year had been generated more rapidly than expected.