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.
Venerable reaches $12bn annuity reinsurance agreement with Equitable
28th October 2020
Venerable Holdings has agreed to reinsure $12 billion of legacy variable annuity business from Equitable Financial Life Insurance Company. As part of the transaction, Venerable will also acquire Corporate Solutions Life Reinsurance Company, a Delaware domiciled variable annuity reinsurance company that has been in run-off since 2002. Overall, the deal will more ... Read the full article
Aegon reportedly looking at sale of Eastern European business
27th October 2020
Aegon, a provider of life insurance, pensions and asset management, is considering a sale of its Eastern European business, according to reports from Reuters. Sources say the company is working with JP Morgan on the process and has already entered talks with potential buyers. The reasoning behind a sale would be to ... Read the full article
Coverys finalises acquisition of Bridge
26th October 2020
Coverys European Holdings (CEH) has announced that the acquisition of Bridge Insurance Broker, a Lloyd’s wholesale broker and coverholder, has been completed. Bridge, which is based in Italy, will provide a full suite of property, casualty and specialty insurance products, as well as claims management services. The Italian agency manages some ... Read the full article
Macif, Generali & CVC to join bidding war for Aviva’s French business
26th October 2020
Reports suggest that mutual insurer Macif and a consortium consisting of Generali and investment firm CVC Capital Partners are readying their bids for an acquisition of Aviva’s business in France. Last month, sources at Reuters said a consortium of Allianz and life re/insurer Athora Holding were in talks to takeover ... Read the full article
M&A markets sees first positive performance in years: WTW
26th October 2020
New data from re/insurance broker Willis Towers Watson (WTW) shows that the global mergers and acquisitions (M&A) insurance market recorded its first positive performance in three years for completed deals. The market performed well despite the impact of the COVID-19 pandemic on deal-making during 2020, but WTW says that its data ... Read the full article
Sun Life takes majority stake in Credit Capital Group
23rd October 2020
Sun Life Financial Inc., the Canadian financial services and life insurance company, has revealed plans to acquire a majority stake in global alternative credit investment manager Crescent Capital Group LP. Headquartered in Los Angeles with offices in New York, Boston and London, Crescent has more than 180 partners and employees and ... Read the full article
UK & EU regulators wrestle for oversight of Aon / WTW merger: reports
20th October 2020
British and European Union regulators are reportedly debating which authority will have oversight of some of Europe's largest mergers ahead of a Brexit trade deal deadline in December, including the planned combination of re/insurance brokers Aon and Willis Towers Watson (WTW). A Financial Times article, citing people briefed on the issue, ... Read the full article
Enstar’s latest Watford bid could lead to a “Superior Proposal”
20th October 2020
The unsolicited, non-binding proposal from Enstar Group Limited to acquire the common shares of Watford Holdings Ltd. could reasonably be expected to lead to a "Superior Proposal" as defined in Watford's merger agreement with Arch Capital Group Ltd., according to the firm's Board of Directors. On October 15th, legacy acquirer ... Read the full article
DARAG sells active Italian business to NOBIS
16th October 2020
Legacy acquirer DARAG Group has revealed plans to sell the Going Concern business from its Italian arm, DARAG Italia, to NOBIS Compagnia di Assicurazioni (NOBIS). DARAG is looking to streamline its operations, and says the sale of this non-legacy business will help it to focus exclusively on providing better legacy solutions. Following ... Read the full article
AXA wraps up €1bn sale of Central European businesses
16th October 2020
Insurance and investment giant AXA has completed the sale of its life & savings, property & casualty and pension businesses in Poland, Czech Republic and Slovakia to UNIQA Insurance Group for €1 billion. UNIQA had been pegged as one of three bidders in the running to secure AXA’s Central and Eastern ... Read the full article
Cohen & Co’s IAC completes merger with Shift Technologies
15th October 2020
Insurance Acquisition Corp. (IAC), a subsidiary of Cohen & Company Inc., has completed its previously announced merger agreement with automotive e-commerce firm, Shift Technologies Inc. The business combination, which was approved on October 13th by INSU’s stockholders, provides Shift with approximately $300 million, net of fees and expenses. Shift is an ... Read the full article
Brown & Brown announces two acquisitions
14th October 2020
Re/insurers, Brown & Brown Insurance has announced the acquisition of all of the assets of Bright & Associates, as well as finalising the acquisition of Vehicle Administrative Services, (VAS). Bright & Associates is an independent sales and service organisation providing F&I products and sales support to the automotive, marine, power ... Read the full article
Zurich to acquire HealthLogix & HealthInsite
13th October 2020
Zurich Insurance Group has announced that it is set to acquire digital health and wellbeing service providers, HealthLogix in Australia and HealthInsite in South Africa, to further expand its Zurich LiveWell health and wellbeing operation. The companies, jointly known as HLX, will be acquired from the founders. They offer customers a ... Read the full article
Fleming Re acquires Bermuda captive Sinclair
12th October 2020
Run-off reinsurance provider Fleming Re has agreed to acquire Sinclair Insurance Company, a Bermuda domiciled captive insurance company. Sinclair was utilized to provide reinsurance to the primary insurers of certain casualty risks of affiliated companies. The acquisition provides the shareholders of Sinclair with an exit solution allowing legal finality, elimination of operating ... Read the full article
AccuRisk sets up ancillary unit, acquires Texan business
9th October 2020
AccuRisk Solutions, a managing general underwriter (MGU) focused on employee and health insurance benefits, has set up a new ancillary unit and acquired the renewal rights to Great American Insurance Group’s book of Texas non-subscription business. The new ancillary unit, called, AccuRisk Ancillary Solutions, which will be led by Joyce Segall ... Read the full article
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