Reinsurance News
Blackstone
Blackstone integrates credit and insurance businesses to form BXCI
15th September 2023
Blackstone has announced the integration of its corporate credit, asset-based finance, and insurance groups into a single new unit, Blackstone Credit & Insurance (BXCI). According to the firm, Credit and Insurance is its fastest-growing segment, having more than doubled to $295 billion in assets under management over the last three years. Blackstone’s ... Read the full article
Swiss Re structures Blackstone’s first indemnity cat bond
20th July 2023
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 250 million of insurance-linked securities issued with respect to certain real estate funds managed or controlled by affiliates of Blackstone Inc. under Wrigley Re Ltd. This Wrigley Re Ltd. (Series 2023-1) transaction is Blackstone's first indemnity cat ... Read the full article
Resolution Life welcomes Nippon Life’s further $1bn investment
24th January 2023
Nippon Life has agreed to invest an additional commitment of $1bn in Resolution Life, a global life and annuity insurance consolidation business. The news comes after Resolution Life and asset manager Blackstone announced their strategic partnership last year. Nippon Life has been the largest investor in Resolution Life since 2019. It ... Read the full article
Resolution Life and Blackstone enter reinsurance partnership
12th October 2022
Life insurance group Resolution Life is to become the strategic partner of asset manager Blackstone for new closed book transactions, including reinsurance, in the global life and annuity sector. A joint statement from the two companies said, in return, Blackstone is to become the investment manager for Resolution Life in ‘certain ... Read the full article
Blackstone and Westland expands partnership deal
17th January 2022
Independent property and casualty (P&C) insurance broker Westland Insurance Group has expanded its partnership with Blackstone Credit (Blackstone). Since its initial investment a year ago, Blackstone has committed over $1.2 billion to support Westland’s growth, which has included a facility dedicated to funding the company’s acquisition strategy. The company has expanded into ... Read the full article
AIG closes sale of equity stake in Life & Retirement business to Blackstone
2nd November 2021
The previously announced transaction between American International Group, Inc. (AIG) and Blackstone, which sees the latter acquire a 9.9% equity stake in the former's Life & Retirement business, has now closed. It was announced back in July that the pair had reached an agreement over the sale of a nearly ... Read the full article
Allstate finalises sale of life arm to Blackstone
2nd November 2021
US primary insurance carrier, The Allstate Corporation, has completed the sale of Allstate Life Insurance Company (ALIC) and certain subsidiaries to entities managed by private equity investment giant, Blackstone. First announced in January 2021, the deal involved total proceeds of $4 billion, which included Blackstone’s $2.8 billion purchase price, as ... Read the full article
AIG offloads 9.9% share in its Life & Retirement operation to Blackstone
15th July 2021
American International Group, Inc. (AIG) has reached an agreement with Blackstone over the sale of a 9.9% stake in its Life & Retirement business, and will also sell certain affordable housing assets to Blackstone Real Estate Income Trust (BREIT). Blackstone will acquire an almost 10% stake in AIG's Life & Retirement ... Read the full article
Allstate agrees to sell life insurance arm to Blackstone for $2.8bn
27th January 2021
U.S. primary insurance carrier, The Allstate Corporation, has reached an agreement to sell Allstate Life Insurance Company (ALIC) and certain subsidiaries to entities managed by private equity investment giant, Blackstone, for $2.8 billion. Currently, ALIC holds around 80%, or $23 billion of Allstate's life and annuity reserves and in 2019, generated ... Read the full article
Blackstone adds Morgan Stanley’s Hovey to lead insurance acquisitions
21st January 2021
US investment giant Blackstone has appointed Michael Hovey to the role of senior managing director. Hovey will lead acquisitions and strategic partnerships for Blackstone Insurance Solutions and reports to Gilles Dellaert, global head of the unit. He joins from Morgan Stanley, where he was a managing director and most recently served as ... Read the full article
Blackstone invests in SUNZ Holdings
30th December 2020
Investment management firm Blackstone Tactical Opportunities has acquired a significant stake in SUNZ Holdings, in order to help fund its continued expansion. SUNZ is a provider of workers compensation insurance and related services such as policy administration, claims administration and customer support. SUNZ has a particular focus on risk sharing programs for ... Read the full article
Blackstone & Fairfax back Ki in $500m capital raise
17th September 2020
Ki, the fully digital and algorithmically-driven Lloyd’s of London syndicate, has raised USD 500 million of committed capital from two backers, funds managed by Blackstone Tactical Opportunities and Fairfax Financial Holdings Limited. The creation of Ki was revealed in May 2020 and the capital commitment is expected to fund the ... Read the full article
Blackstone hires Gilles Dellaert to lead Insurance Solutions business
14th January 2020
U.S investment giant Blackstone has announced the appointment of Gilles Dellaert as Head of its insurance division, Blackstone Insurance Solutions (BIS), effective April 1, 2020. Dellaert was formerly Co-President and Chief Investment Officer at retirement and life insurance company Global Atlantic. In these roles, he was responsible for investment and reinsurance activity ... Read the full article
Anbang targets sale of Japanese property portfolio: Reports
14th August 2019
China's Anbang Insurance Group is reportedly looking to sell its $2.4 billion (£1.9bn) property portfolio in Japan, which it acquired from Blackstone in 2017 for about the same price, according to Reuters. Reuters has today reported that Anbang is planning to sell the entire portfolio, which mainly consists of residential buildings ... Read the full article
Blackstone leads $2bn investment in Acrisure
11th December 2018
U.S investment giant Blackstone has led a $2 billion investment in U.S. insurance broker Acrisure via funds managed by its GSO Capital Partners and Tactical Opportunities businesses. The group of investors led by Blackstone also consisted of Partners Group and Harvest Partners SCF. Acrisure remains over 83% owned by its own management ... Read the full article
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