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.
RenRe completes acquisition of Tokio Millennium Re
22nd March 2019
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has completed its previously announced acquisition of Tokio Millennium Re, following the receipt of all necessary regulatory approvals. The $1.5 billion deal, which sees RenRe acquire Japanese holding company Tokio Marine’s reinsurance units, was announced in October of last year. Commenting on the completion of the deal, ... Read the full article
Re/insurers in 2018 pursued M&A to focus on core business, says study
22nd March 2019
Re/insurers were driven to complete mergers and acquisitions (M&A) in 2018 in order to shed non-core business operations or acquire complementary entities, according to a new study by investment management firm Conning. Conning’s study tracked and analysed U.S and non-U.S insurer M&A activity across property-casualty, life-annuity and health/managed care insurance sectors. 2018’s ... Read the full article
Castel promotes European M&A division to standalone underwriting cell
19th March 2019
Castel Underwriting Agencies Limited, the club-style MGA formation platform, has promoted Transact Risk Partners from a division within the Castel Specialty portfolio to a standalone underwriting cell. Launched in October 2017, Transact provides warranty and indemnity insurance for mergers and acquisitions (M&A) transactions and tax risk insurance for tax liabilities across ... Read the full article
Preservation Capital completes investment in US MGA Cove
18th March 2019
Preservation Capital Partners, the private equity firm that purchased cyber and specialty lines managing general agent (MGA) Ascent Underwriting last year, has completed its previously-announced strategic investment in Cove Programs, a US construction-focused MGA. The completion of this deal means Preservation Capital now manages $200 million gross written premium ... Read the full article
Pembroke & Ironshore sale removes business overlap, says Liberty Mutual
18th March 2019
Liberty Mutual has said that its decision to sell Pembroke Managing Agency Limited and Ironshore Europe DAC (IEDAC) to Hamilton Insurance Group, Ltd. will remove business overlap resulting from its 2017 acquisition of Ironshore. The transaction, which was announced on March 14, will see Hamilton take over the Pembroke platform ... Read the full article
Re/insurance M&A slowdown expected in 2019: Clyde & Co
15th March 2019
Mergers and acquisitions (M&A) activity in the global re/insurance sector increased by 9% in 2018, but political and economic uncertainty is expected to cause a temporary slowdown over the next six months, according to analysts at Clyde & Co. The law firm recorded 382 M&A transactions in 2018, up from 350 ... Read the full article
Hamilton acquires Pembroke and Ironshore Europe from Liberty Mutual
14th March 2019
Bermuda-based insurer and reinsurer, Hamilton Insurance Group, Ltd. has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke Managing Agency Limited platform at Lloyd's, and also Ironshore Europe DAC (IEDAC). The transaction is expected to close later in 2019, and once completed, sees Hamilton almost double its total ... Read the full article
Hub International acquires The Insurance Exchange
14th March 2019
Chicago-based global insurance broker Hub International has announced the acquisition of The Insurance Exchange for an undisclosed consideration. Based in Rockville, Maryland, The Insurance Exchange is one of the largest independent insurance agencies in the Mid-Atlantic region. It provides solutions for employee benefits consulting, commercial property & casualty, loss control, bonding, risk ... Read the full article
RenaissanceRe’s $1.5bn acquisition of Tokio Millennium Re approved
13th March 2019
Bermudian reinsurance firm RenaissanceRe has had its $1.5 billion acquisition of Japanese re/insurance group Tokio Marine’s reinsurance units approved by regulators. The acquisition, which was announced back in October 2018, sees RenaissanceRe acquiring the Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited units from the Japanese giant Tokio ... Read the full article
Munich Re’s ERGO to sell four more European units to EIG
8th March 2019
ERGO International AG, a division of global reinsurer Munich Re, has announced that it plans to sell four more of its European insurance subsidiaries to Euroins Insurance Group (EIG). Representatives of both parties have signed a purchase agreement relating to the sale of ERGO’s life and non-life subsidiaries in Romania and ... Read the full article
Ryan Specialty Group completes acquisition of Westphalen
6th March 2019
Ryan Specialty Group has completed its previously announced acquisition of Westphalen Insurance Services Inc., an independently owned wholesale insurance brokerage located in Edmond, Oklahoma. The Westphalen team now forms part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, and will establish the company’s presence in Oklahoma. Founded in ... Read the full article
Aon does not intend to pursue Willis Towers Watson deal
6th March 2019
Re/insurance brokerage Aon has now confirmed that it does not intend to pursue a deal to acquire rival broker Willis Towers Watson (WTW). Media reports emerged yesterday claiming that Aon was in early discussions with WTW about a potential acquisition. Aon then confirmed then it was in the early ... Read the full article
Aon confirms consideration to acquire Willis Towers Watson
6th March 2019
Insurance and reinsurance broker Aon has confirmed that it is in the initial stages of considering an offer to acquire Willis Towers Watson (WTW). Reports emerged yesterday that Aon had held preliminary talks with WTW over a potential deal that would see the combination of two of the world's largest ... Read the full article
Aon is considering an offer to buy Willis Towers Watson, reports Bloomberg
5th March 2019
Global insurance and reinsurance broker Aon is reportedly in talks to acquire rival broker Willis Towers Watson (WTW), according to a Bloomberg report, which cites people familiar with the matter. Bloomberg reports that Aon is considering the purchase of WTW, and is preparing to submit an offer in the coming weeks. According ... Read the full article
R&Q completes acquisition of NN Group unit
5th March 2019
Bermudian specialist non-life re/insurance investor Randall & Quilter Investment Holdings Ltd has completed its acquisition of the entire issued share capital of Nationale-Nederlanden Internationale Schadeverzekering SE (NNIS) from its owners, NN Group. NNIS, which will be renamed R&Q Epsilon Company SE following the acquisition, is a UK-based business that was transferred ... Read the full article
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