M&A Deal Summary

Aquiline Capital Partners Acquires ERS Insurance

On April 22, 2013, private equity firm Aquiline Capital Partners acquired insurance company ERS Insurance from IAG

Acquisition Highlights
  • This is Aquiline Capital Partners’ 2nd transaction in the Insurance sector.
  • This is Aquiline Capital Partners’ 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2013-04-22
Target ERS Insurance
Sector Insurance
Buyer(s) Aquiline Capital Partners
Sellers(s) IAG
Deal Type Divestiture

Target

ERS Insurance

London, United Kingdom
ERS Insurance is a Lloyd’s underwriting business (Syndicate 218), which has been a leading motor insurer for more than 60 years, providing quality commercial insurance solutions to customers in the United Kingdom. ERS offers a diverse range of insurance for private cars, classic cars, vans, motorcycles, taxis, minibusses, fleets, haulage, and agricultural vehicles. ERS Insurance was founded in 1946 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Aquiline Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 9 of 72
Sector: Insurance M&A 2 of 13
Type: Divestiture M&A Deals 3 of 7
Country: United Kingdom M&A 1 of 7
Year: 2013 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-27 Altegris Companies

La Jolla, California, United States

Altegris Companies, Inc. is a provider of alternative investment solutions designed for financial professionals and individuals seeking to improve portfolio diversification.

Buy $413M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-26 Tourmalet Advisors

Fairfield, Connecticut, United States

Tourmalet Advisors is an SEC-registered alternative investment advisor that manages, invests in, structures, and trades distressed residential mortgage assets. The firm’s objective is to generate outsized returns through the purchase, servicing, and liquidation of non-performing residential whole loans. Tourmalet Advisors was founded in 2009 and is based in Fairfield, Connecticut.

Buy -

Seller(S) 1

SELLER

IAG

Sydney, Australia

Category Company
Founded 1920
Sector Insurance
Employees13,500
Revenue 14.8B AUD (2025)
DESCRIPTION

IAG is the parent company of a general insurance group with controlled operations in Australia, New Zealand, Thailand and Vietnam, employing over 13,500 people. Insurance Australia Group was founded in 1920 and is based in Sydney, Australia.


DEAL STATS #
Overall 1 of 2
Sector: Insurance M&A 1 of 2
Type: Divestiture M&A Deals 1 of 2
Country: United Kingdom M&A 1 of 1
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-30 HBF Holdings Pty

Perth, Australia

HBF Holdings Pty Ltd. is a distributor of general insurance products such as home, car, and travel insurance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-16 Wesfarmers - Insurance Underwriting Business

Australia

Wesfarmers Insurance Underwriting include Lumley and WFI in Australia and New Zealand along with a 10 year distribution agreement for Coles insurance.

Buy AU$1.8B