Slaters and Parabis drive further consolidation in UK personal insurance market with merger spree
Slater & Gordon and Parabis have both unveiled major plans for UK expansion this week, in the latest examples of consolidation in the tightly fought UK personal insurance (PI) market. Australia-listed Slaters, which last year entered the UK through the £53.8m takeover of Russell Jones & Walker (RJW), is set to continue its push into the market with the proposed A$35.5m (£23.4m) triple acquisition of UK firms Simpson Millar, Goodmans Law and the PI practice of Taylor Vinters. Slaters has agreed terms on the three purchases, with the deals expected to be completed between August and December, while the firm is also expecting to make further acquisitions over the next six to 18 months.
Slaters plans triple buyout while Plexus-Greenwoods tie-up set to create £90m defendant insurance business
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