Private equity is snapping up Irish insurance and wealth brokers, but Irish-owned LHK is bucking that trend. It has just closed its fourth acquisition.
The Dublin insurance tech start-up has partnered with insurer Vitality as it expands its presence in the British market and eyes the rest of Europe.
Talks are now at the stage where just one party, believed to be a private equity-backed investor with existing insurance interests, remains.
A summons was invalidly served on a British financial advisor alleged to have acted as a broker for Flatley in a 2018 insurance settlement, the High Court has ruled. The accountant claims Flatley told him he would drop the case against him.
Liquidators were appointed last May to GTLK Europe, an Irish-based subsidiary of sanctioned Russian transport leasing giant JSC GTLK. They are now claiming insurance cover on 37 jets stuck in the Russian Federation.
Scouting Ireland is facing serious financial issues and new estimates of how much its legal liabilities will cost reveal the scale of the crisis facing it in the years ahead.
They say their insurance policies were meant to pay out in 90 days for aeroplanes lost by acts of war. Yet nearly a year after Russia's full-scale invasion of Ukraine, some of the world's largest aircraft lessors are fighting tooth and nail for compensation.
When European sanctions hit aircraft leasing companies’ Russian contracts, they stood to lose everything. Co-ordinated industry and diplomatic lobbying resulted in their insurers being on the hook instead, new documents reveal.
New documents lay bare the financial plight of XS Direct, revealing details of how much the main creditors, including Beach Point Capital, are owed. They also disclose efforts to sell the company’s insurance book and intellectual property.
Two of Ireland's oldest insurance brokers are set to merge. In an industry targeted by international private equity and listed buyers, the participants in the latest deal insist it is different.
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