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.
AXIS’ increased offer for Novae accepted by shareholders
29th August 2017
The revised and increased offer made by global specialty insurance and reinsurance firm AXIS Capital Holdings Limited to acquire Lloyd’s of London focused diversified specialty re/insurer Novae Group plc has been accepted by shareholders, the company reported today. Novae Group held a General Meeting earlier today in London and approximately 99.97 ... Read the full article
AXIS increases Novae offer by 2%
25th August 2017
Global specialty insurance and reinsurance firm AXIS Capital Holdings Limited has increased its acquisition offer for the shares of Lloyd’s of London focused diversified specialty re/insurer Novae Group plc by 2%, valuing the firm at £477.6 million (US $612m at today's FX rates). The "full and final" offer of 715 pence per ... Read the full article
PartnerRe offloads New York unit
17th August 2017
According to SEC filings from both companies, reinsurance firm PartnerRe is to sell its PartnerRe Insurance Company of New York entity to workers compensation specialists Employers Group, Inc. The unit is being sold to Nevada-headquartered Employers Group for a purchase price equal to the statutory capital and surplus of PartnerRe Insurance ... Read the full article
Regulator puts stop to Suncorp acquisition of Tower
26th July 2017
The New Zealand Commerce Commission said today that it has "declined to grant clearance to Vero Insurance New Zealand Limited to acquire up to 100% of the shares in Tower Limited." Vero, a subsidiary of Suncorp, had looked set to complete its acquisition of Tower Insurance of New Zealand, after Read the full article
Hannover Re completes acquisition of Lloyd’s focused Argenta Holdings
21st July 2017
German reinsurance firm Hannover Re has announced the completion of its acquisition of Lloyd's of London focused player Argenta Holdings Limited, which gives the reinsurer a ready-made syndicate and Lloyd's private capital manager. The acquisition, which was completed yesterday and is effective today, sees Hannover Re gain a Lloyd's syndicate manager ... Read the full article
Nexus expands global reach with acquisition of Trade Credit MGA, Equinox
19th July 2017
Nexus has expanded its distribution opportunities and expertise with the acquisition of fast-growing Specialist Trade Credit MGA and registered Lloyd's Coverholder, Equinox Global, as well as all other Equinox group companies. The founders of Equinox and Beazley, previously the MGA's biggest shareholder, are set to become shareholders in Nexus, aligning all ... Read the full article
Probitas 1492 signs MOU with Saudi Re to acquire nearly 50% of its Bermuda holding firm shares
17th July 2017
Probitas 1492 - a Lloyd's underwriting syndicate specialising in property, construction and casualty insurance and reinsurance solutions has signed a Memorandum of Understanding with Saudi Re to acquire nearly 50% of the Ordinary Shares of its holding company Probitas Holding Bermuda Ltd (PHBL). Ash Bathia, CEO Probitas, commented that the substantial involvement of ... Read the full article
SCOR to acquire 100% of mutual life/health reinsurer MutRé
17th July 2017
French reinsurance giant SCOR has announced this morning that it is to acquire the remaining shares of MutRé S.A., a reinsurer that SCOR has held a 33% stake in since 1998. MutRé S.A. is a mutual reinsurer, established to serve the social economy in France and a particularly major player in ... Read the full article
S&P revises AXIS outlook to negative after planned takeover of Novae Group
11th July 2017
International financial services rating agency, S&P Global Ratings, has revised its outlook on AXIS Capital Holdings Ltd. to negative from stable, after its recently announced planned acquisition of Novae Group for $604 million. S&P has revealed that while it's affirmed its 'A-' long-term counterparty credit and senior debt ratings on AXIS ... Read the full article
AXIS Capital acquiring Novae Group for $604m
5th July 2017
Global specialty insurance and reinsurance firm AXIS Capital Holdings Limited is acquiring Novae Group plc, the Lloyd's of London focused diversified specialty re/insurer in a transaction worth $604 million. AXIS said that the acquisition will add "scale and breadth" to its international specialty insurance business, creating a $2 billion London specialty ... Read the full article
RGA Re joins race to acquire Generali’s Netherlands operations
4th July 2017
Reinsurance Group of America (RGA Re) has reportedly joined the race to acquire the Netherlands operations of insurance giant Generali. Assicurazioni Generali, one of the largest insurance group's in the world, is actively trying to sell its Netherlands and Belgian operations, with RGA Re joining the race to acquire the Dutch ... Read the full article
Suncorp increases Tower bid, attempts to secure acquisition
26th June 2017
Australia and New Zealand based insurer Suncorp Group is trying to seal its acquisition of the remaining shares in Tower Insurance of New Zealand with an increased bid. Back in February, Prem Watsa’s Fairfax Financial made an all cash offer at $1.17 per share, so valuing Tower at $197 million, ... Read the full article
Randall and Quilter announces sale of Lloyd’s managing agency to Coverys
23rd June 2017
Randall & Quilter Investment Holdings (R&Q) has announced the sale of its Lloyd's of London managing agency arm, R&Q Managing Agency Ltd., to Coverys, a step it has taken to simplify its business operations. Randall & Quilter (R&Q) had previously announced that it would look to simplify its operations to focus ... Read the full article
Re/insurers looking to M&A to deploy excess capital in 2017
12th June 2017
European insurance and reinsurance firms are turning to sharebacks and M&As to deploy high levels of excess capital one year after the Solvency II regime took effect, a Moody's survey of 18 Chief Financial Officers (CFOs) from Europe's largest multinationals revealed. Last year just 10% of survey participants said they were ... Read the full article
Compre to acquire captive Equinox CA Europe
12th June 2017
Insurance and reinsurance legacy specialist Compre has today announced plans to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin. Nick Steer, CEO of Compre, said; “I am delighted to announce this latest acquisition, our fourth this year, from a leading group in its field. "This is ... Read the full article
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