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.
Hub International acquires the Crichton Group
10th July 2019
Chicago-based global insurance brokerage Hub International has announced the purchase of The Crichton Group (TCG). TCG is an independent, full-service commercial, employee benefits and personal lines agency based in Nashville, Tennessee. With this acquisition, Hub intends to create a new regional Hub to be called Hub Mid-South, which will include Hub's existing ... Read the full article
Ares launches insurance subsidiary, acquires Pavonia Life
10th July 2019
Alternative asset manager Ares Management Corporation is to expand its existing insurance platform with the launch of Aspida Financial, an indirect subsidiary of Ares. Additionally, Ares has announced the purchase, by Aspida, of Pavonia Life Insurance Company, a Michigan-domiciled insurance company with approximately $1.1 billion of assets and approximately $76 million ... Read the full article
Insurers are showing increasing levels of optimism: Survey
5th July 2019
The quarterly, June 2019 Financial Services Survey from CBI and PwC reveals that insurance companies are increasingly optimistic in light of opportunities to improve customer service and to capitalise on merger and acquisition (M&A) deals. The latest quarterly survey from the pair was conducted between May 14th and June 17th, and ... Read the full article
SOBC DARAG acquires Vermont-based risk retention group
3rd July 2019
SOBC DARAG, the joint venture between U.S run-off specialist SOBC and European legacy acquirer DARAG, has announced the acquisition of Innovative Physicians Solutions RRG (IPS). IPS, a Vermont-based risk retention group (RRG), was acquired in full effective from July 1, 2019. SOBC DARAG said that it had received approval for the transaction ... Read the full article
Genworth delays China Oceanwide merger to explore sale of Canada business
3rd July 2019
Mortgage insurer Genworth Financial has announced a five-month extension to its planned merger agreement with China Oceanwide Holdings Group Co., Ltd., which will give it time to explore the sale of its Canadian business, Genworth MI Canada Inc. Oceanwide, which had been set to acquire Genworth by June 30, 2019, gave ... Read the full article
Allianz in talks to buy P&C, auto units from Brazilian insurer Sul América
3rd July 2019
Allianz is currently in bilateral talks with Brazilian insurer Sul América S.A. regarding the potential acquisition of its property & casualty (P&C) and auto units. Sul América revealed in a recent securities filing that it had received a nonbinding offer from Allianz and was in the process of discussing a possible ... Read the full article
USI Insurance Services completes acquisition of U.S. Risk
2nd July 2019
USI Insurance Services (UCI) has completed its previously announced acquisition of U.S. domiciled brokerage, U.S. Risk Insurance Group. The terms of the transaction were not disclosed, but it's been revealed that U.S. Risk will keep its Dallas headquarters and will continue to operate independently under its existing brands, U.S. Risk, Oxford, ... Read the full article
Sompo creates Global Transactions Group to manage M&A, joint ventures
2nd July 2019
Bermuda-based specialty re/insurer Sompo International Holdings has created a Global Transactions Group, which will take overall responsibility for all mergers and acquisitions (M&A), intercompany transactions and joint ventures. The group, comprising of senior professionals at Sompo, will be tasked with overseeing both insurance and non-insurance transactions, such as insurtech and healthcare ... Read the full article
Sumitomo Life acquires 25% stake in Singapore Life
1st July 2019
Singapore-based wealth technology and life insurance firm, Singapore Life Pte. Ltd. has secured a $90 million investment from Japanese life insurer, Sumitomo Life Insurance Company, taking its total funding to date to $153 million. The latest expansion drive by Singapore Life sees Sumitomo Life acquire roughly 25% of the total issued ... Read the full article
R&Q to acquire Sandell Holdings and reinsurance subsidiary, Sandell Re
1st July 2019
Randall & Quilter II Holdings Limited, a subsidiary of Randall & Quilter Investment Holdings Ltd. (R&Q), has announced the acquisition of Sandell Holdings Limited and its subsidiary Sandell Re Limited. Subject to regulatory approvals from the Bermuda Monetary Authority (BMA), R&Q will acquire the entire issued share capital of both Sandell ... Read the full article
Monument Re acquires Guernsey insurer Nordben Life and Pension
27th June 2019
Bermudian reinsurer Monument Re has announced the completion of its acquisition of Nordben Life and Pension Insurance Co. Limited. Nordben is a Guernsey-based company licensed to carry out long-term and general insurance business, which has been closed to all new business since early 2016. Monument Re took over the business from its ... Read the full article
FWD is in advanced talks to acquire MetLife Hong Kong: Reports
25th June 2019
The South China Morning Post has reported that FWD Group, the Swiss Re backed insurance business of Pacific Century Group (PCG), is in advanced talks to acquire MetLife's Hong Kong insurance business. According to reports, an agreement between the two companies could be made within the next few weeks. People close ... Read the full article
Allianz to sell stake in Spanish bancassurance venture
24th June 2019
Global insurer Allianz has announced plans with Banco Santander to sell its 60% stake in its joint Spanish bancassurance venture, Allianz Popular SL. Banco Santander has agreed to pay €936.5 million for the acquisition of Allianz’s holding and for the termination of the exclusive non-life distribution agreement with Allianz’s operating entity ... Read the full article
Analysts highlight uncertainty around FedNat’s Maison deal & off-cycle renewal
19th June 2019
Analysts at JMP remain confident in the prospects of FedNat Holding Company, but have said that some uncertainty exists around the company's "slightly off-cycle" reinsurance renewal and the potential delay of its acquisition of Maison Insurance, the homeowners insurance operations of 1347 Property Insurance Holdings. JMP met with FedNat management ... Read the full article
Fractal Industries’ AIDP to host Oasis LMF catastrophe models
18th June 2019
Insurance and reinsurance industry players that utilise Fractal Industries, Inc.'s Fractal Advanced Insurance Decision Platform (Fractal AIDP) will now be able to both access and operate open source catastrophe modelling tool, Oasis Loss Modelling Framework (Oasis LMF). Fractal Industries is a provider of intelligent decision platforms and has been selected by ... Read the full article
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