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.
Bermuda’s Fleming Re acquires AggCap II
20th December 2019
Fleming Re Holdings LLC has announced the acquisition of AggCap Insurance Ltd, - AggCap II, a group captive that is in run-off providing workers compensation coverage for a large membership of California-based agribusinesses. AggCap Insurance Ltd is a Bermuda-based segregated accounts company that has provided workers comp insurance, loss control services, ... Read the full article
DARAG completes legacy portfolio transfer with SOVAG
20th December 2019
Legacy acquirer DARAG Group Limited has announced the completion of its portfolio transfer deal with German insurer and reinsurer, SOVAG. The deal, which was first announced in August 2019, sees the portfolio transferred to DARAG’s German subsidiary, DARAG Versicherungs- und Ruckversicherungs-AG. The legacy book consisted of both direct insurance and inwards ... Read the full article
AJ Gallagher expands Atlantic Canada capabilities with acquisition
20th December 2019
Arthur J. Gallagher & Co. recently announced the acquisition of Sinclair Billard and Weld Limited, and CJM Solutions + Inc., dba SBW Employee Benefits. SBW Employee Benefits is a Halifax, Nova Scotia-based designer, administrator, marketer and manager of comprehensive group insurance programs, and defined contribution group retirement programs for businesses and ... Read the full article
BRP Group to acquire Chicago insurer Highland Risk
20th December 2019
BRP Group, Inc., an independent insurance distribution firm, has entered into an agreement to acquire Highland Risk Services LLC, a Chicago-based insurance company. The company will carry out the acquisition via its subsidiary, BRP Insurance Intermediary Holdings, LLC, with the transaction set to close on January 1, 2020. Highland Risk is focused ... Read the full article
Aktia takes over life portfolio from Nordic insurer Alandia
20th December 2019
Aktia Life Insurance Ltd, a subsidiary of Finnish bank Aktia Bank plc, has agreed to acquire the life insurance portfolio of Nordic insurer Försäkringsaktiebolaget Liv-Alandia. Försäkringsaktiebolaget Liv-Alandia, a subsidiary of Alandia Försäkring Abp, has a portfolio of approximately 11,000 life insurance policies, which have largely been handled by Aktia for 56 ... Read the full article
New York Life to purchase Cigna’s group life & disability insurance business
19th December 2019
U.S. domiciled mutual life insurer, New York Life, has entered into a definitive agreement to acquire Cigna's group life and disability insurance business for USD 6.3 billion. The transaction is expected to close in the third-quarter of next year and remains subject to regulatory approvals and other customary closing conditions. Once completed, ... Read the full article
Resolution Life to acquire Voya’s in-force individual life business
19th December 2019
Resolution Life Group Holdings Ltd has entered into an agreement to acquire the in-force individual life business of Voya Financial, Inc., for a total consideration of USD 1.25 billion. The blocks of business being divested by Voya Financial include those that the firm had previously closed to new sales and include ... Read the full article
Alliant acquires Texan energy broker TCOR Management
17th December 2019
US specialty insurance broker Alliant Insurance Services has announced the acquisition of TCOR Management, a Texas-based risk management firm. Founded in 1972, TCOR provides commercial insurance to the energy and construction industries as well as surety, loss control services, and employee benefits. The company has offices in New Braunfels, Beeville, and Tyler, ... Read the full article
Aon targets private equity investors in NAIC partnership
17th December 2019
Global re/insurance brokerage Aon has partnered with The National Association of Investment Companies, the largest network of diverse-owned private equity firms and hedge funds. The move will give Aon an opportunity to offer its services to NAIC member companies, which are expected to increasingly pursue innovative and complex transactions as the ... Read the full article
Monument Re acquires closed life book from Belgium’s Curalia OVV
16th December 2019
Bermuda domiciled life reinsurance and insurance holding company, Monument Re, has announced the acquisition of a closed book of life business from Curalia OVV, a mutual insurance company based in Belgium. Under the terms of the transaction, the portfolio transfers into Monument Assurance Belgium NV, the reinsurer's Belgian carrier. Monument Assurance Belgium ... Read the full article
Brookfield Business Partners completes Genworth Canada purchase
16th December 2019
Genworth Financial, Inc. has announced the closing of the sale of its majority share in Genworth MI Canada Inc. to Brookfield Business Partners. The deal was announced in August, and sees Brookfield Business Partners acquire a 57% controlling interest in Genworth MI Canada Inc. for approximately CAD 2.4 billion (USD ... Read the full article
Thomas Miller Specialty acquires Lodestar Marine’s book of business
13th December 2019
Global insurance provider Thomas Miller Specialty has announced that it has completed the acquisition of Lodestar Marine's book of business. As part of the agreement, Lodestar Marine's Vicky Clarke will be joining Thomas Miller Specialty. She brings more than 13 years of experience to the role, and will ensure continuity for ... Read the full article
Helios Underwriting to acquire CatBang for £5.6m
13th December 2019
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired Lloyd's Member Catbang 926 Limited for £5.6 million. The move, intended to increase underwriting capacity through acquisition, will see Helios pay £2 million of the total acquisition price on completion and the balance paid within 60 days of completion. Catbang ... Read the full article
Enstar expands $1bn credit facility to finance reinsurance deals
12th December 2019
Bermuda based insurance, reinsurance, run-off and legacy transaction specialist Enstar Group Limited has increased the total commitments under its $1 billion credit facility to support potential future reinsurance deals. Last year, Enstar and certain subsidiaries entered into a five-year unsecured $600 million revolving credit agreement with a group of lenders. The ... Read the full article
US insurance M&A deals hit $4.17bn in Q3, says GlobalData
12th December 2019
At $4.17 billion, insurance industry mergers & acquisition deals in the US during the third quarter of 2019 spiked 51.2% against the previous quarter, according to GlobalData’s deal database. This figure represents a 34.2% rise when compared with the last four-quarter average of $3.11 billion. The data and analytics firm explains that the ... Read the full article
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