Decades of disposals and investments culminated in insurance giant RSA being bought by a Canadian outfit and exiting the consumer motor market. The Lawyer meets the in-housers at the heart of its transformation.
Axiom DWFM, the firm that recently bought the struggling Ince Group, is expected to sign off an acquisition deal later today for defendant insurance firm Plexus Legal. The Lawyer understands the deal will close this afternoon. Plexus filed a notice of intention to appoint an administrator earlier this month, having confirmed earlier in that week that […]
With the spotlight on HSF over its Post Office work, new disputes head Lewis has a lot on his plate.
The latest Covid-19 business interruption (BI) test case has reached judgment today, with the Commercial Court ruling in favour of policyholders and rejecting several alternative causation arguments pursued by the 13 insurers in these test cases. The case, which was featured as one of The Lawyer’s Top 20 cases of 2023, was between the London International Exhibition […]
Defendant insurance firm Plexus has filed a notice of intention to appoint an administrator, having confirmed last week that its investors had pulled back their support. According to the public filing system, both Plexus Law and Plexus Legal have applied to the High Court to appoint an administrator. Macfarlanes has been appointed as its representative. […]
Howden Group Holdings has hired a new general counsel responsible for Europe. Martin Schneider has joined Howden from Ardonagh Group, an independent broker based in London, where he was senior group legal counsel for two years. Prior to that, he had been group legal counsel for two and a half years. Trained at Norton Rose […]
DAC Beachcroft is reconsidering the sale of its Claims Solutions Group (CSG) following the news the firm was in talks with a private equity fund. The firm was in negotiations with London-based Limerston Capital in April over buying the CSG following a strategic review. However, a firm spokesperson has now said: “Following a strategic review […]
Defendant insurance firm Plexus is looking for a new investor after a funding deal sought earlier this year fell apart. The firm’s backer Access Capital had provided the firm with an initial investment of £15m, of which £1m was put in by Origin Equity, to buy shares in Plexus in 2019. An agreement was then […]
DAC Beachcroft is in talks with a private equity fund in order to sell off one-third of the firm. The talks are being held with Limerston Capital over buying its Claims Solutions Group (CSG) following a strategic review. London-based Limerston Captial has over £300m under management and targets UK businesses valued at between £20m to […]
Defendant insurance firm Plexus is to receive further investment from its private equity backer, as the firm seeks to move past an 18-month-long investigation into financial irregularities. Since 2019, the firm’s backer has been Access Capital. Access provided an initial investment of £15m, of which £1m was put in by Origin Equity, to buy shares […]
DAC Beachcroft has expanded into Italy by opening two new offices in Milan and Rome. The venture is fully operative as of today (1 February 2023) and the firm has swiped an insurance team from Milan-headquartered Advant NCTM to kick things off. Partners Anthony Perotto, Guido Foglia and Michele Zucca have taken the leap and […]
Royal London has hired AXA’s UK group regulatory and compliance director as its new general counsel (GC). Julie Whitehead has made the move after 17 years with AXA, beginning her career at the insurance giant in 2005 as senior counsel. In total, Whitehead brings with her 25 years of financial services experience, having previously worked […]