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.
Call for Watford to be sold as reinsurer falls “horribly short of expectations”
19th May 2020
In a recent letter, the principal of investment firm Capital Returns Management, Ronald Bobman, has called for Bermuda-based reinsurer Watford Holdings Ltd to consider selling itself, potentially to a runoff specialist. A letter that was sent on Friday highlighting unprofitable underwriting returns and poor investment results at the company, called for ... Read the full article
Fitch affirms, removes PartnerRe from Rating Watch Positive
15th May 2020
Fitch Ratings has affirmed and removed PartnerRe’s ratings from Rating Watch Positive, including its 'A-' Issuer Default Rating and the 'A+' (Strong) Insurer Financial Strength rating of its principal reinsurance operating subsidiary. The Rating Outlook is Negative. PartnerRe’s removal from Positive Watch follows news that EXOR N.V. and Covea’s $9 ... Read the full article
Speculation returns that Covéa could bid again for SCOR
13th May 2020
Following French insurer Covéa's decision to pull out of its previously-agreed deal to purchase PartnerRe from Exor, speculation around a potential renewed bid for SCOR has resurfaced. As we reported earlier today, the acquisition of reinsurer PartnerRe by Covéa has been cancelled, after owner EXOR declined to renegotiate the price ... Read the full article
Covéa’s acquisition of PartnerRe from EXOR called off
13th May 2020
The acquisition of global reinsurer PartnerRe by French insurer Covéa has been abruptly called off, after owner EXOR declined to renegotiate the price in the context of the Covid-19 pandemic. Covéa had sought a renegotiation of the acquisition price for PartnerRe in the wake of the pandemic, but EXOR believes that ... Read the full article
OneAdvent acquires UK property MGA Modus
12th May 2020
MGA platform OneAdvent has announced its acquisition of Modus Underwriting Ltd., an MGA focused on providing niche property insurance products to brokers across the UK. OneAdvent believes the acquisition will strengthen its position in the landlord space. The two companies have been working together in advance of the acquisition to jointly develop ... Read the full article
Aon/WTW merger talks began in January 2019
11th May 2020
Discussions about a potential merger between re/insurance brokers Aon and Willis Towers Watson (WTW) began in January 2019, according to a new timeline of the transaction released by both firms. The document shows that CEOs Greg Case and John Haley first met on January 30, 2019 to explore options for a ... Read the full article
Hyperion’s DUAL acquires specialty underwriting agency in NZ
8th May 2020
DUAL, the underwriting arm of Hyperion Insurance Group, has announced the acquisition of a controlling interest in New Zealand specialty underwriting agency International Underwriting Agencies (IUA). “In these challenging times I’m delighted that DUAL has completed only the fourth acquisition in its long history and to welcome the IUA team,” said ... Read the full article
Peak Re wraps up Lutece Holdings acquisition
5th May 2020
Hong Kong-based reinsurer Peak Re has completed its acquisition of the capital of Lutece Holdings and its subsidiary Lutece Investment Management, which will be renamed Peak Capital. The Bermuda-based ILS investment specialist is now a wholly owned subsidiary of Peak Re. The completion of the transaction follows the fulfilment of customary closing ... Read the full article
Paragon completes acquisition of Argo’s Trident Public Risk Solutions
4th May 2020
Paragon Insurance Holdings, LLC has completed its previously announced acquisition of Trident Public Risk Solutions from Argo Group International Holdings, Inc. It was announced in early February 2020 that Argo had agreed to sell the Trident brand and underwriting platform to Paragon, but retain the unit's claims operations. The deal has ... Read the full article
Positive timing of Tiberius deal supports IGI’s growth ambitions: IGI’s Jabsheh
30th April 2020
The timing of the transaction with Tiberius was both positive and opportune for IGI, while the simplified access to capital enables the insurer to grow in the current market, according to the company’s President, Waleed Jabsheh. Following its business combination with Tiberius, former Dubai-registered IGI became a public company ... Read the full article
K2 & Pioneer sign terms ahead of acquisition
30th April 2020
Pioneer Underwriters and K2 Insurance Services LLC have now signed terms for their previously announced transaction, under which Pioneer's ongoing underwriting portfolio, as well as underwriting and support staff, transfer to K2. With the terms of the transaction now signed, it's expected that the deal will complete by the end ... Read the full article
Aon, WTW merger to be a positive catalyst: CEO Greg Case
29th April 2020
Greg Case, the Chief Executive Officer of leading re/insurance broker Aon, believes his company’s forthcoming combination with Willis Towers Watson will be a positive catalyst enabling accelerated innovation on behalf of clients. In an official statement to colleagues earlier this week, Case noted how the all-stock combination requires no financing ... Read the full article
Beazley expands global M&A underwriting team
29th April 2020
Specialist insurer Beazley has expanded its mergers & acquisitions team in an effort to better service key markets and explore new opportunities. Joining in London are Lorraine Lloyd-Thomas and Cameron McCoy. Lloyd-Thomas joins from Marsh where she spent 14 years, most recently as a managing director in its UK private equity and ... Read the full article
B.P. Marsh investee firm XPT acquires 100% of Texas-based LP Risk
24th April 2020
B.P. Marsh & Partners Plc has announced that investee firm, XPT Group LLC, has acquired 100% of LP Risk, Inc, the Houston, Texas-based managing general agency (MGA) and surplus lines brokerage. As well as its headquarters in Houston, LP Risk has additional offices in Dallas and San Antonio (Texas). The MGA ... Read the full article
M&A wave to drive opportunities for equity market investors: Twelve Capital
22nd April 2020
A wave of restructuring and consolidation efforts in the re/insurance industry is expected to provide attractive opportunities for equity market investors, according to Twelve Capital. Twelve Capital – an independent investment manager specialising in insurance investments – noted that the global re/insurance industry appears to be increasingly exploring M&A options as ... Read the full article
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