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.
R&Q confirms provisional liquidation in Bermuda to facilitate Accredited sale
19th June 2024
Following evaluation from its Board, R&Q has confirmed that it will be filing for a provisional liquidation in Bermuda and that it expects the previously announced sale of Accredited to Onex Corporation to be implemented through that process. If you recall, on the 13th of June, R&Q released an update ... Read the full article
Zurich acquires 70% of India’s Kotak General Insurance
19th June 2024
Zurich Insurance Company's acquisition of a majority stake in Kotak Mahindra General Insurance Company Limited, for a total consideration of Rs. 5,560 crores (USD 670 million), makes it the first foreign insurer to enter India since the FDI rules were changed to allow up to 74% foreign ownership in 2021. Together, ... Read the full article
Sampo makes €4.42bn offer for Topdanmark remaining shares
17th June 2024
Finish insurer Sampo has revealed it intends to acquire all of the outstanding shares in P&C insurer Topdanmark not already owned for 33 billion Danish Krone (€4.42 billion). Sampo already owns around 48.5% of Topdanmark, with this new consideration representing a premium of 27% to the closing share price of the ... Read the full article
Jensten acquires Chris Knott Insurance Consultants
13th June 2024
UK broker and underwriter Jensten has bolstered its London and South East presence through its acquisition of Chris Knott Insurance Consultants, a broker that specialises in both personal and commercial lines. Subject to regulatory approval, the deal will reportedly introduce a dedicated team of 19 professionals, as well as an office ... Read the full article
Liquidation risk for R&Q as Accredited sale discussions continue with Onex
13th June 2024
As R&Q continues progress discussions regarding the sale of Accredited, buyer Onex has proposed an alternative transaction structure to that of the original sale that could be implemented in the event that the original closing conditions were not able to be satisfied. Back in October 2023, the non-life specialty insurer announced ... Read the full article
Mike Conway named CFO at Truist Insurance Holdings
12th June 2024
Truist Insurance Holdings (TIH), an insurance brokerage in the US, announced recently the appointment of Mike Conway as Chief Financial Officer (CFO), effective June 10. Conway brings over 30 years of experience in leading large, complex business organisations in global finance and operations. “With his strong finance background, Mike is a proven ... Read the full article
Beat is a “perfect fit” for our strategic vision for the future of Ambac, CEO, LeBlanc
5th June 2024
Earlier today it was announced that Ambac Financial Group had signed a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners Limited. This afternoon, a conference call was held which involved members of Ambac and Beat, discussing further details of the transaction. During the call, Ambac's President ... Read the full article
Ambac to acquire majority stake in Beat Capital Partners for $282m
5th June 2024
Ambac Financial Group has signed a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners Limited, a London-based insurance underwriting and managing general agency (MGA) incubation platform, for approximately $282 million. As per Ambac, up to $40 million of the total approximation will be paid in shares of ... Read the full article
Arch MI completes acquisition of RMIC Companies
4th June 2024
Arch U.S. MI Holdings Inc. (Arch MI), a wholly owned subsidiary of Arch Capital Group Ltd., has completed it's acquisition of RMIC Companies, Inc. (RMIC) and its subsidiaries that together comprise the run-off mortgage insurance business of Old Republic International Corporation. If you recall, the transaction was first announced in November ... Read the full article
Core Specialty completes acquisition of American Surety Company
4th June 2024
Property and casualty (P&C) insurer Core Specialty has completed its acquisition of American Surety Company (ASC) and Underwriters Surety, Inc. If you recall, the acquisition was first announced in November 2023. The completed acquisition establishes Core Specialty’s 17th specialty business unit, adding to the Bond, Credit & Guarantee subsegment, and also ... Read the full article
Marsh McLennan Agency announces acquisition of Perkins Insurance Agencies
31st May 2024
Marsh McLennan Agency, a subsidiary of Marsh, has acquired Perkins Insurance Agencies, an Abilene, Texas-based independent agency. Established in 1977, Perkins provides commercial property and casualty (P&C) and personal lines coverage to West Texas-based organisations, non-profits, and families, with specialised expertise in the oil and gas, trucking, farm and ranch, and ... Read the full article
SRG acquired by Warburg Pincus and Temasek to fuel growth
21st May 2024
Insurance industry intermediary Specialist Risk Group (SRG) has announced its acquisition by Warburg Pincus and Temasek. This partnership with these investors aims to support SRG’s growth plans and strategy, with SRG’s management team retaining a significant stake in the company. SRG was founded in January 2020 under the leadership of Group CEO ... Read the full article
Howden acquires LatAm parametric insurance specialist MiCRO
20th May 2024
Howden has acquired MiCRO, a microinsurance specialist that designs and implements parametric insurance coverage for underserved populations in Latin America against natural catastrophes. MiCRO was founded by Mercy Corps and Fonkoze in the aftermath of the 2010 Haiti Earthquake and has since grown to operate in Guatemala, El Salvador, Colombia and ... Read the full article
Ardonagh’s MDS Brazil to acquire D’Or Consultoria for £123m
17th May 2024
MDS Brazil, a subsidiary of Ardonagh-owned MDS Group, has revealed it intends to acquire D'Or Consultoria, a health, dental, life insurance, and pensions broker from Rede D’Or Sao Luiz. S.A. (Rede D’Or). The transaction, which has a consideration of R$800 million (£123 million), is subject to approval by the Administrative Council ... Read the full article
AIG to sell Corebridge common stock to Nippon Life Insurance Company
16th May 2024
Global insurer AIG has reached an agreement to sell approximately 120 million shares of its Corebridge common stock to Nippon Life Insurance Company. The selling price of the stock has been decided at $31.47 per share, for an aggregate purchase price of $3.8 billion. The shares represent 20% of the outstanding ... Read the full article
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