Reinsurance mergers & acquisitions (M&A)
Reinsurance mergers & acquisitions (M&A)
This listing of recent major mergers and acquisitions (M&A) deals in the insurance and reinsurance industry is based on core data on recent re/insurance M&A published by rating agency Standard & Poor’s and augmented with our own data on M&A transactions.
This re/insurance mergers and acquisitions (M&A) deal directory provides a simple way to analyse recent M&A transactions involving the world’s top insurance and reinsurance companies.
These insurance and reinsurance M&A deals are listed in order of date. You can sort the table by column headings.
Read all of our insurance and reinsurance merger and acquisitions news.
| Announced | Closed | Acquirer | Acquiree | Price (Bil. $) | M&A transaction terms | Price to book multiple |
|---|---|---|---|---|---|---|
| Apr-22 | Ongoing | Randall & Quilter Investment Holdings | 777 Partners backed Brickell PC Insurance | 0.482 | All cash | |
| Mar-22 | Ongoing | Berkshire Hathaway | Alleghany Corporation | 11.6 | All cash | |
| Mar-22 | Ongoing | Acrisure | Volante Global | N/A | N/A | |
| Mar-22 | Ongoing | Vienna Insurance Group | Aegon's Hungary business | 0.666 | ||
| Nov-21 | Ongoing | Lemonade | Metromile | 0.5 | Stock exchange | |
| Oct-21 | Ongoing | Covéa | PartnerRe | 9 | All cash | |
| Oct-21 | Apr-22 | Howden | Aston Lark | N/A | N/A | |
| Aug-21 | Dec-21 | Arthur J. Gallagher & Co. | Willis Re’s treaty reinsurance operations | 3.25 | Cash and stock | |
| Aug-21 | Ongoing | Brookfield Asset Management Reinsurance Partners | American National Group | 5.1 | All cash | |
| Aug-21 | Sep-21 | Moody's | RMS | 2 | Cash and debt | |
| Jul-21 | Mar-22 | Liberty Mutual Insurance Group | State Auto Group | 2.3 | All cash | |
| Apr-21 | Jun-21 | Stone Point Capital and Insight Partners | CoreLogic | 5.9 | ||
| Mar-21 | Dec-21 | Allianz | Aviva Poland | 3.05 | All cash | |
| Mar-21 | Jan-22 | Apollo Global Management | Athene Holding | 11 | Stock exchange | |
| Feb-21 | Oct-21 | Aéma Groupe | Aviva France | 3.91 | All cash | |
| Dec-20 | Apr-21 | Farmers Group, Inc., a subsidiary of Zurich Insurance Group | Metropolitan Property and Casualty Insurance Company and certain wholly-owned subsidiaries | 3.94 | ||
| Nov-20 | Apr-21 | Cinven Group and British Columbia Investment Management Corporation | Compre | N/A | ||
| Nov-20 | Jun-21 | Tryg A/S and Intact Financial Corporation | RSA Insurance Group | 9.5 | ||
| Nov-20 | Mar-21 | Cinven Group Limited and GIC Private Limited | Miller Insurance Services LLP | N/A | ||
| Nov-20 | Nov-20 | Pelican Ventures Group LLC and J.C. Flowers & Co | Ariel Re Bda Limited | 0.03 | ||
| Oct-20 | Jul-21 | Arch Capital Group Ltd. | Watford Holdings Ltd. | 0.7 | All cash | |
| Oct-20 | Jan-21 | White Mountains Insurance Group | Ark Insurance Holdings Ltd | 0.8 | ||
| Aug-20 | Feb-21 | Third Point Reinsurance Ltd | Sirius Group | 0.788 | Cash, stock and debt | |
| Jul-20 | Jan-21 | The Allstate Corporation | National General Holdings Corporation | 4.0 | Cash and debt | 11.9 |
| Dec-19 | Jul-20 | Phoenix Group Holdings plc | ReAssure Group plc | 3.25 | Cash and stock | N/A |
| Nov-19 | Jan-20 | Arthur J. Gallagher & Co. | Capsicum Reinsurance Brokers LLP | N/A | ||
| Oct-19 | Mar-20 | Tiberius Acquisition Corp. | International General Insurance Holdings Ltd. | 0.39 | Cash and stock | 1.26 |
| Oct-19 | Feb-20 | Tokio Marine Holdings, Inc | Pure Group | 3.1 | Cash and debt | 33 |
| Sep-19 | Jan-20 | Tysers Insurance Brokers | Risk Transfer Group Limited | N/A | ||
| Jul-19 | Dec-19 | Arch Capital Group | Barbican Group Holdings Limited | N/A | ||
| May-19 | Jan-20 | Allianz (UK) Ltd. | Liverpool Victoria General Insurance Group Ltd. | 0.73 | Unclassified | N/A |
| Apr-19 | Oct-19 | American Family Insurance Mutual Holding Company | IDS Property Casualty Insurance Company | 1.05 | All cash | 1.25 |
| Dec-18 | Nov-19 | Earning Star Limited | FTLife Insurance Company Ltd. | 2.75 | All cash | 1.4 |
| Oct-18 | Mar-19 | RenaissanceRe | Tokio Millennium Re | 1.47 | Stock & cash | 1.02 |
| Oct-18 | Jul-20 | Life Resolutions Australia Pty Ltd. | Australian and New Zealand wealth protection and mature businesses | 2.34 | Cash, Common Stock, Unclassified | N/A |
| Aug-18 | Dec-18 | Enstar Holdings (US) LLC | Maiden Reinsurance North America, Inc. | 0.32 | All cash | N/A |
| Aug-18 | Apr-19 | China Re | Chaucer | 0.95 | Cash & dividends | 1.66 |
| Aug-18 | Nov-18 | Markel Corporation | Nephila Capital | 0.975 | All cash | N/A |
| Aug-18 | Feb-19 | Apollo Global Management, LLC | Aspen Insurance Holdings Limited | 2.6 | All cash | 1.1 |
| Aug-18 | May-19 | The Hartford | The Navigators Group, Inc. | 2.2 | All cash | 1.78 |
| Aug-18 | Mar-19 | Group of Investors | Star Health and Allied Insurance Company Limited | 0.92 | All cash | N/A |
| Aug-18 | Dec-18 | Group of Investors | esure Group Plc | 1.51 | All cash | 4.07 |
| Jun-18 | ? | Reliance Life Limited | Equitable Life Assurance Society | 2.41 | ? | N/A |
| Mar-18 | Sep-18 | AXA | XL Group | 15.35 | All cash | 1.51 |
| Jan-18 | Jul-18 | AIG | Validus Holdings | 5.56 | All cash | 1.53 |
| Feb-18 | May-18 | Enstar Group Ltd. | KaylaRe Ltd. | 0.40 | Stock exchange | |
| Jul-17 | Nov-17 | Markel Corporation | State National Companies Inc. | 0.92 | All cash | |
| Jul-17 | Oct-17 | AXIS Capital Holdings Ltd. | Novae Group plc | 0.6 | All cash | 1.53 |
| May-17 | Sep-17 | Intact Financial Corp. | OneBeacon Insurance Group Ltd. | 1.7 | All cash | 1.65 |
| Dec-16 | Jul-17 | Fairfax Financial Holdings Ltd. | Allied World Assurance Co. Holdings AG | 4.9 | Stock and cash | 1.35 |
| Dec-16 | May-17 | Liberty Mutual Group Inc. | Ironshore Inc. | 2.94 | All cash | 1.43 |
| Nov-16 | Apr-17 | AXIS Capital Holdings Ltd. | Aviabel Cie. Belge d’Assurances Aviation S.A. | N/A | N.A. | N.A. |
| Nov-16 | Feb-17 | Argo Group US Inc. | Ariel Re Holdings Ltd. | 0.24 | Cash and debt | 1.45 |
| Oct-16 | Apr-17 | PartnerRe Ltd. | Aurigen Capital Ltd. | 0.29 | All cash | N.A. |
| Oct-16 | Mar-17 | Sompo Holdings Inc. | Endurance Specialty Holdings Ltd. | 6.3 | All cash | 1.36 |
| Sep-16 | Dec-16 | Canada Pension Plan Investment Board | Ascot Underwriting Ltd. | 1.1 | All cash | N.M. |
| Aug-16 | Jan-17 | Arch Capital Group Ltd. | United Guaranty Corp. | 3.4 | Cash and stock | 1.01 |
| Apr-16 | Nov-16 | AmTrust Financial Services Inc. | ANV Holdings B.V. | 0.2 | All cash | N.M. |
| Sep-15 | Feb-16 | Mitsui Sumitomo Insurance Co. Ltd. | Amlin plc | 5.3 | All cash | 1.93 |
| Aug-15 | Jan-16 | Sumitomo Life Insurance Co. | Symetra Financial Corp. | 3.8 | All cash | 1.2 |
| Aug-15 | Mar-16 | EXOR SpA | PartnerRe Ltd. | 6.9 | All cash | 1.11 |
| Jul-15 | Apr-16 | China Minsheng Banking Corp. Ltd. | Sirius International Insurance Group | 2.6 | All cash | 1.43 |
| Jul-15 | Mar-16 | Meiji Yasuda Life Insurance Co. | StanCorp Financial Group Inc. | 4.95 | All cash | 2.21 |
| Jul-15 | Jan-16 | ACE Ltd. | Chubb Corp. | 28.3 | Cash, stock and debt | 1.7 |
| Jun-15 | Oct-15 | Tokio Marine & Nichido Fire Insurance Co. Ltd. | HCC Insurance Holdings Inc. | 7.53 | Cash and debt | 1.9 |
| May-15 | Nov-15 | Fosun International Ltd. | Ironshore Inc. | 2.3 | All cash | 1.12 |
| Mar-15 | Jul-15 | Endurance Specialty Holdings Ltd. | Montpelier Re Holdings Ltd. | 1.83 | Cash and stock | 1.21 |
| Feb-15 | Jul-15 | Fairfax Financial Holdings Ltd. | Brit Insurance Holdings PLC | 1.88 | All cash | 1.63 |
| Jan-15 | May-15 | XL Group Ltd. | Catlin Group Ltd. | 4.1 | Cash, stock and debt | 1.21 |
| Nov-14 | Mar-15 | RenaissanceRe Holdings Ltd. | Platinum Underwriters Holdings Ltd. | 1.9 | Cash and stock | 1.13 |
| Feb-14 | Jun-14 | Qatar Insurance Company S.A.Q. | Antares Holdings Ltd. | 0.30 | N/A | |
| Aug-13 | Nov-13 | Lancashire Holdings Ltd. | Cathedral Capital Ltd. | 0.41 | All cash | |
| Total: $137.31 billion | Median: 1.5 |
N.A.: Not available.
N.M.: Not meaningful.
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