Reinsurance News
M&A news
Reinsurance M&A news, or reinsurance mergers and acquisitions news, covering details of M&A transactions in the works and completed, between insurance, reinsurance and related companies.
Legacy specialist Compre to be acquired by Cinven and BCI
30th November 2020
Private equity firm Cinven and British Columbia Investment Management Corporation (BCI) have reached an agreement to purchase legacy acquirer, Compre, from existing shareholders CBPE Capital LLP, Hudson Structured Management Limited, and Compre's management. Following the transaction, Cinven and BCI will become majority shareholders alongside Compre's management team, led by Chief Executive ... Read the full article
VIG to acquire Aegon’s Central and Eastern European operations
30th November 2020
Aegon, a provider of life insurance, pensions and asset management, has reached an agreement to sell its Central and Eastern European operations to Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) for €830 million. The net proceeds represent a multiple of 2.6 times the book value on June 30th, 2020, and ... Read the full article
AXA agrees to sell insurance operations in the Gulf region
30th November 2020
Global insurer AXA has entered into an agreement to sell its insurance operations in the Gulf region, which includes its shareholding in AXA Gulf, AXA Cooperative Insurance Company, and AXA Green Crescent Insurance Company, to Gulf Insurance Group (GIG). Under the terms of the arrangement, AXA will sell its stake in ... Read the full article
MAPFRE Salud ARS launches in the Dominican Republic
27th November 2020
Insurer MAPFRE has announced that following its 51% acquisition of health insurer, ARS Palic, earlier this year, the Dominic Republic domiciled insurer has now rebranded as MAPFRE Salud ARS. The acquisition was announced in February this year, and aims to strengthen MAPFRE’s position in the country whilst leaving the León ... Read the full article
Zywave confirms acquisition of Insurance Technologies Corporation
26th November 2020
Zywave, a provider of front office distribution SaaS solutions has signed a definitive agreement to acquire Insurance Technologies Corporation (ITC). The company, which is backed by Clearlake Capital Group and Aurora Capital Partners plans to align and integrate ITC's products within its Sales Cloud offering. This would include multiple front-of-office software solutions ... Read the full article
Argo received $30m for Ariel Re sale
25th November 2020
Specialty insurer and reinsurer, Argo Group International Holdings Ltd., has confirmed that it received $30 million at the closing of its sale of Ariel Re to private equity investors Pelican Ventures and J.C. Flowers & Co. It was announced earlier today that the two private equity investors have now completed ... Read the full article
Third Point Re shareholders approve Sirius merger
25th November 2020
Hedge fund backed reinsurer Third Point Re and multi-line re/insurer Sirius Group have gained key approvals from shareholders that will enable them to proceed with their planned merger agreement. At a Third Point Re special general meeting, the shareholders approved the issuance of Third Point Re common shares to Sirius Group ... Read the full article
Argo completes sale of Ariel Re to Pelican Ventures and J.C. Flowers
25th November 2020
Private equity investors, Pelican Ventures and J.C. Flowers & Co., have completed their previously announced acquisition of Ariel Re from Argo Group International Holdings. Founded in 2005, Ariel Re had been part of Argo Group since 2017. The company underwrites a global portfolio of reinsurance solutions in Bermuda, London and ... Read the full article
Atlas finalises sale of renewal rights to NATL
25th November 2020
US-based commercial auto insurer, Atlas Financial Holdings has announced that the renewal rights to its agreement to sell its Large Paratransit Accounts to National Interstate Insurance Company (NATL), which was previously announced in July 2020, has been finalised. Following the agreement, Atlas and NATL will work together to transition the handling ... Read the full article
Cohen & Co’s SPAC acquires insurtech Metromile
24th November 2020
Metromile Inc., a San Francisco based car insurance start-up, is set to become a public company via an $842 million combination with INSU Acquisition Corp. II, a special purpose acquisition company (SPAC) sponsored by Cohen & Company. Cohen & Co’s acquisition vehicle completed its initial public offering back in September, ... Read the full article
Aviva sells shares in Italian life venture to UBI Banca
24th November 2020
London-headquartered insurer Aviva has agreed to sell its entire 80% shareholding in the Italian life insurance joint venture, Aviva Vita S.p.A, to its partner UBI Banca. Aviva previously announced a commitment to refocus its portfolio, and this transaction represents just that. On completion, Aviva will receive €400 million in cash consideration. The ... Read the full article
Zurich eyeing takeover of MetLife’s US P&C business
23rd November 2020
Zurich Insurance Group has confirmed that it is currently in discussions regarding a potential takeover of MetLife’s US property and casualty (P&C) business. The company announced that talks had indeed begun after rumours about an acquisition began circulating in the media. Reuters had previously reported that a deal with life insurer MetLife ... Read the full article
Buckle acquires additional legacy assets from Atlas
18th November 2020
US-based commercial auto insurer Atlas Financial Holdings has announced the sale of further legacy assets to ride-sharing insurance provider Buckle. Buckle recently completed the purchase of Atlas' subsidiary Gateway Insurance Company, following Atlas' decision to move towards an MGA model. Scott D. Wollney, Atlas’ President & CEO said: “We recently announced the closing ... Read the full article
AJ Gallagher acquires AWIS Group
16th November 2020
International insurance brokerage firm, Arthur J. Gallagher, has announced the acquisition of San Diego-based AWIS Group. Founded in 2005, AWIS is a wholesale insurance broker offering a broad range of commercial coverages as well as high-net-worth personal lines, primarily through California-based insurance agencies. The AWIS team will continue to operate from their ... Read the full article
Davies expands service offering via unit rebrand
16th November 2020
Operations management, consulting and digital solutions provider Davies Group has announced it is to rebrand its Requiem intermediary services business as the operation looks to broaden the services it provides to the market. Davies had previously acquired Requiem in 2018 from R&Q, and will be renamed to Davies Intermediary Support Services ... Read the full article
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