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.
Arthur J. Gallagher acquires Australia’s Prasidium Credit Insurance
25th April 2024
Global insurance brokerage Arthur J. Gallagher & Co. has announced the acquisition of Australia-based Prasidium Credit Insurance (Prasidium). Prasidium is a specialist trade credit insurance broker serving clients throughout Australia. Established in 2015 in Sydney, the company has grown quickly to become a national specialty trade credit broker. The company reportedly ... Read the full article
Marsh McLennan Agency to acquire Fisher Brown Bottrell Insurance in $345m deal
25th April 2024
Marsh McLennan Agency, a subsidiary of Marsh, has entered into a definitive agreement to acquire Fisher Brown Bottrell Insurance, Inc. (FBBINSURANCE) from Trustmark National Bank, in a $345 million all-cash deal that values FBBINSURANCE at almost six times its 2023 revenue and 28 times its latest net income. Established in 1936, ... Read the full article
Applied Underwriters to sell Centauri to Arbol subsidiary Lilypad Insurance
18th April 2024
Applied Underwriters has revealed its plan to sell Centauri Insurance to the newly formed Arbol subsidiary, Lilypad Insurance. The transaction is subject to regulatory approval and is anticipated to close within the next 45 days. As per Applied, Lilypad Insurance, consolidated with the Florida and Louisiana domiciled Centauri companies, will address the ... Read the full article
CFC acquires Australian MGA Solution Underwriting
17th April 2024
Specialist insurance provider, CFC, has agreed to acquire Australian managing general agent (MGA), Solution Underwriting, in a move that is set to expand the company's footprint in Australia. Headquartered in Melbourne, with offices located in Sydney, Brisbane and Perth, Solution is a specialist insurance underwriter that particularly focuses on financial lines ... Read the full article
Fleming acquires JRG Re
17th April 2024
Fleming Insurance Holdings has confirmed its agreement to acquire JRG Reinsurance Company Ltd. from James River Group Holdings, Ltd. at the previously agreed upon terms, after the Supreme Court, New York County, Commercial Division issued an order directing Fleming Intermediate Holdings to complete the transaction. James River announced its ... Read the full article
DUAL strengthens European marine capability with acquisition of Swiss Re team
16th April 2024
DUAL, the specialist underwriting arm of Howden Group Holdings, has significantly strengthened its European marine capability by acquiring Swiss Re's Genoa-based Marine team, and has authority to write marine business for the global reinsurer going forward. The transaction is in line with DUAL’s ambitions of becoming a leading player in the ... Read the full article
Protective enters agreement to acquire ShelterPoint
11th April 2024
Protective Life Corporation, a U.S. subsidiary of Dai-ichi Life Holdings, Inc., has revealed that its principal subsidiary, Protective Life Insurance Company, has agreed to acquire ShelterPoint Group, Inc. ShelterPoint is a provider of statutory disability, paid family and medical leave, as well as medical gap insurance products, among others. The transaction is ... Read the full article
GeoVera combines insurance carriers with SafePort, sells MGA to SageSure
9th April 2024
GeoVera Insurance Holdings, Ltd. has announced its plans to sell its managing general agent business, GeoVera Advantage Insurance Services, Inc., to SageSure; once the deal closes, a new entity named GeoVera Nova Holdings, Inc. (GeoVera Nova) will emerge, assuming control of four insurance operating units. Following the completion of the transaction, ... Read the full article
Arch Insurance NA to acquire Allianz’s US MidCorp & Entertainment insurance businesses
5th April 2024
Arch Insurance North America, part of Arch Capital Group Ltd., has entered into a master transaction agreement to acquire the US MidCorp and Entertainment insurance businesses - which includes select specialty insurance programs - from Allianz Global Corporate & Specialty SE (AGCS) for a $450 million cash consideration to Allianz. According ... Read the full article
Applied Surety acquires majority of Argo’s oil, gas, mining, & coal surety businesses
5th April 2024
Applied Surety Underwriters (ASU), a subsidiary of Applied Underwriters' United Risk division, is set to acquire the majority of Argo Surety group's in-force coal, oil, gas, and mining business. According to ASU, it will immediately assume the management and administration of the exposures acquired, while Argo Surety continues some processing, renewing, ... Read the full article
Global M&A performance rises modestly in Q124, large transactions begin to stabilise: WTW
4th April 2024
Global mergers and acquisitions (M&A) activity saw a modest rise in completed deals during the first quarter of 2024 compared to the same period last year, according to research from WTW’s Quarterly Deal Performance Monitor (QDPM). Data has revealed that 166 deals valued over $100 million were completed globally during Q124, ... Read the full article
Suncorp Group agrees to sell Asteron Life to Resolution Life
4th April 2024
Suncorp Group Limited has signed a share sale and purchase agreement with Resolution Life NOHC, Resolution Life Group’s holding company in Australia and New Zealand (Resolution Life) to sell its New Zealand life insurance business, Asteron Life Limited for NZ$410 million. According to the announcement, the sale of Asteron Life for ... Read the full article
Howden bolsters presence in France with acquisition of brokerage group, OFRACAR
4th April 2024
Global re/insurance broker Howden has entered into an agreement to acquire OFRACAR, an independent brokerage group headquartered in Rouen. Established in 1964 by Jean-Pierre Lecomte, OFRACAR is a broker based in Normandy, that specialises in property & casualty, employee benefit, motor fleet and transport. The company consists of 84 staff in offices ... Read the full article
Ardonagh Advisory completes acquisition of Westfield Insurance
3rd April 2024
Ardonagh Advisory has completed its previously announced acquisition of Westfield Brokers Ltd. Established in 2009 by Managing Director Peter Cowan, Westfield Brokers, which trades under the name of Westfield Insurance, is an independent commercial broker based in Horsham, West Sussex. The firm offers a range of general insurance products, including, fleet, ... Read the full article
Fleming still willing to acquire JRG Re on the right terms: CEO Haller
2nd April 2024
Fleming Insurance Holdings CEO Eric Haller has suggested that while the firm will continue to defend itself against the "meritless lawsuit" recently filed by James River Group Holdings, Fleming remains willing to acquire JRG Re "if James River cures its breaches of the agreement.” If you recall, on the 8th ... Read the full article
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