RSA to sell Latin American arm for £403m
UK-headquartered RSA Insurance Group is to trade-in its businesses in Latin America for £403m as the firm continues the sell-off of its non-core operations.
M&A Deals
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Eilan agrees deal to buy SFM Europe
Global corporate services provider Elian has agreed terms to purchase SFM Europe in a deal that will see more than €1trn of assets under administration added to its books.
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Canada Life Int’l: Life after L&G deal
On 1 July 2015, Canada Life completed its acquisition of Legal & General International Ireland (LGII), Sean Christian, the company’s executive director – offshore and managing director of Canada Life International – talks about the background to the deal and the opportunities it brings.
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Friends Life and Aviva merger probed by FCA
The Financial Conduct Authority is investigating unusual increases in share price prior to Aviva’s merger with Friends Life, according to reports.
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Axa rumoured to be looking at sale of UK businesses
French insurer Axa Group may be looking to sell off all of its UK businesses, including Axa Wealth, according to British media reports.
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Zurich makes £5.6bn offer for RSA
Zurich Insurance has formally tabled an all cash offer for RSA Insurance valued at £5.6bn ($8.8bn), which the UK-listed firm said it was likely to accept.
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Canada Life’s offshore bond market share hits 29% on L&G deal
Canada Life’s acquisition of Legal & General International has resulted in a combined 29% share of the offshore bond market into the UK.
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ANALYSIS: The dangers of wealth management consolidation
Wealth management and financial advice firms have been snapping up their peers at some rate in the post RDR world, but in recent months this has been kicked up a gear.
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Aberdeen to buy hedge fund Arden
Aberdeen Asset Management has entered into an agreement to acquire hedge fund Arden Asset Management
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Rowan Dartington sale to SJP to boost Ardan appeal
Rowan Dartington’s acquisition by UK wealth manager St James’s Place for £34m in cash will boost the appeal of its platform, Ardan International, to financial advisers and help expand its business in Asia, the company’s chairman said.
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M&A activity driving up IFA business value in the UK
UK independent financial advisory businesses have risen in value by around 8% this year as regulatory reform helps drive M&A activity, according to online business valuation provider BizEquity.
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Lloyds shareholders launch court battle over HBOS takeover
Thousands of Lloyds Bank shareholders, including various large investment funds domiciled in the UK, Europe, the US, Canada and Asia, have kick-started a legal battle after it was alleged the bank’s takeover of HBOS was a bad deal for investors.