Acorn Owners Said to Weigh Options for £1 Billion UK Cab Insurer

Core Viewpoint - Acorn Group, a UK specialist motor and home insurer, is exploring strategic options, including the potential sale of a controlling stake, amid increased M&A activity in the insurance sector [1][2]. Group 1: Company Overview - Acorn Group is known for insuring UK taxi drivers, particularly London's black cabs, and also provides coverage for vans, young drivers, and home insurance for unique situations such as properties at risk of flooding [4]. Group 2: Strategic Options - Shareholders of Acorn, including Inflexion Private Equity, are collaborating with Continuum Partners to assess interest from potential buyers, with a valuation target of £1 billion ($1.4 billion) or more [2]. - An initial public offering (IPO) is also being considered if a sale does not proceed, although discussions are ongoing and a deal may not be finalized [3]. Group 3: Market Context - The sale efforts occur during a period of heightened M&A activity in the UK insurance market, exemplified by Zurich Insurance Group's recent £8 billion acquisition of Beazley Plc and Ageas SA's acquisition of Esure for £1.3 billion [4].