Add-on Acquisition • Insurance

NatWest Group Acquires Churchill Insurance Co.

On June 11, 2003, NatWest Group acquired insurance company Churchill Insurance Co. from Credit Suisse Group for 1.1B USD

Acquisition Context
  • This is NatWest Group’s 2nd transaction in the Insurance sector.
  • This is NatWest Group’s largest (disclosed) transaction.
  • This is NatWest Group’s 3rd transaction in the United Kingdom.

Explore All 5492 Add-on Acquisition Insurance Deals - Search the Database Free


M&A Deal Summary

Date June 11, 2003
Target Churchill Insurance Co.
Sector Insurance
Buyer(s) NatWest Group
Sellers(s) Credit Suisse Group
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target Company

Churchill Insurance Co.

Bromley, United Kingdom
Churchill is the widely recognised insurance brand in the UK insurance market. Churchill sells its products directly, as well as through a range of partners and a network of brokers. Churchill also owns NIG, highly regarded company within the insurance broker market. Churchill has 7 million policies in force.
Explore More Deals

Browse All 215,156 Deals

FILTER BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Search Free

Buyer Overview 1

Buyer

NatWest Group

Edinburgh, United Kingdom

Category Company
Founded 1727
Sector Financial Services
Employees59,400
Revenue 14.7B GBP (2024)
DESCRIPTION

NatWest Group provides support to customers to manage their finances and do business. NatWest Group was founded in 1727 and is based in Edinburgh, the United Kingdom.


Deal Context for Buyer #
Overall 4 of 12
Sector: Insurance 2 of 2
Type: Add-on Acquisition 2 of 6
Country: United Kingdom 3 of 10
Year: 2003 2 of 2
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-14 Coutts & Co.

Zurich,, Switzerland

Coutts & Co Ltd is a provider of private banking services. Company offers investment, wealth management and advisory, and trust and fiduciary services to individuals.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-24 Condor Group

Poole, United Kingdom

Condor Group Ltd. is an operator of lifeline freight and passenger ferry services. Each year, Condor Ferries carries approximately 1 million passengers, 200,000 passenger vehicles, and over 900,000 freight lane meters between Guernsey, Jersey, the United Kingdom, and the Port of St. Malo in France.

Buy £239M

Seller Profile 1

SELLER

Credit Suisse Group

Zurich, Switzerland

Category Company
Founded 1856
Sector Financial Services
Employees50,110
Revenue 16.0B CHF (2021)
DESCRIPTION
Entrance to Credit Suisse's corporate headquarters in Zurich, Switzerland.
Entrance to Credit Suisse's corporate headquarters in Zurich, Switzerland.

Credit Suisse Group is a financial services provider which delivers financial experience and expertise to corporate, institutional and government clients and to ultrahigh-net-worth and high-net-worth individuals worldwide, in addition to affluent and retail clients in Switzerland. Credit Suisse Group was founded in 1856 and is based in Zurich, Switzerland.


Deal Context for Seller #
Overall 1 of 5
Sector: Insurance 1 of 1
Type: Add-on Acquisition 1 of 1
Country: United Kingdom 1 of 1
Year: 2003 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 InterGlobe

Gurgaon, India

InterGlobe is an official distributor of Travelport in 6 markets across Asia Pacific region including India, Sri Lanka. The company provides cutting edge travel technology solutions with unmatched inventory options to its customers helping them increase their productivity and business efficiency. InterGlobe was formed in 2005 and is based in Gurgaon, India.

Buy -