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’s Artex Risk Solutions acquires Allied Risk Management
17th May 2023
Global insurance brokerage Arthur J. Gallagher & Co. announced that its subsidiary, Artex Risk Solutions, Inc., has completed the acquisition of Allied Risk Management, based in Dublin, Ireland. The terms of the transaction have not been disclosed, the company said. Allied Risk Management offers insurance and reinsurance management services, as well as ... Read the full article
Acrisure acquires Portuguese insurance broker Universalis
17th May 2023
Financial technology and insurance company Acrisure has signed an agreement to acquire Portuguese insurance broker Universalis. According to Acrisure, the transaction is under review by the Portuguese Regulator (ASF) and will complete subject to their approval. Greg Williams, Co-Founder, Chairman and CEO Acrisure, commented, “Universalis boasts an impressive track record of growth ... Read the full article
Monument Re reaches agreement to acquire portfolio From Integrale Lux S.A.
16th May 2023
Life insurance and reinsurance holding company Monument Re has announced that its Luxembourg subsidiary Monument Assurance Luxembourg S.A. (MAL), has reached an agreement with Integrale Luxembourg to acquire its closed book portfolio of long term life insurance business. Intergrale Luxembourg's portfolio serves mainly the Luxembourgish, Dutch and French markets, and is strategically ... Read the full article
Chesnara acquires Canada Life UK’s individual protection business
16th May 2023
Chesnara, a life and pensions consolidator in the UK and Europe, has announced its agreement to acquire the onshore individual protection line of business from Canada Life Limited (Canada Life UK). The transaction involves the transfer of life insurance and critical illness policies for nearly 47,000 customers to Chesnara's UK subsidiary, ... Read the full article
ICIEC and Saudi EXIM Bank sign $42 million reinsurance agreement to support trade transactions
15th May 2023
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, has announced the signing of a $42 million Facultative Reinsurance Agreement with the Saudi EXIM Bank. The agreement aims to provide support for trade transactions through ... Read the full article
Confie expands in Florida with acquisition of Estrella Insurance
11th May 2023
Confie, a leading personal lines insurance distribution company, has expanded its presence in Florida through the acquisition of Estrella Insurance to its non-standard national brand, Freeway Insurance. Estrella Insurance operates in more than 190 locations across Florida, California, Arizona, Texas, and Colorado. The company’s product portfolio consists of auto, home, commercial, business, life, and health. Additionally, Estrella ... Read the full article
Monarch E&S expands footprint with acquisition of Commonwealth Underwriters
9th May 2023
Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has announced its acquisition of the assets of Commonwealth Underwriters, Ltd., a specialty lines MGA and wholesale broker that has a strong presence within key markets across the US. The acquisition represents a strategic move for Monarch E&S as the ... Read the full article
Arthur J. Gallagher expands fine art expertise with accurART acquisition
4th May 2023
Re/insurance broking firm Arthur J. Gallagher & Co has acquired Switzerland-based fine art insurance broker, accurART. Terms of the transaction were not disclosed. A market-leader in Switzerland, accurART specialises in insurance for private art collections, museums, galleries and for fine art exhibitions. The firm also offers cover for other valuables, which includes ... Read the full article
Davies to acquire insurance management portfolio from Ortac Underwriting Agency
4th May 2023
Davies, a leading specialist professional services and technology business, has signed a deal to acquire the insurance management portfolio from Ortac Underwriting Agency. Following completion of the acquisition, the business will join Davies’ existing captive management operations, within Davies’ Global Solutions business. Moreover, Ortac’s insurance management division will rebrand to Davies and ... Read the full article
AFG to buy AIG’s Crop Risk Services unit for $240 million
3rd May 2023
American Financial Group (AFG) has entered into an agreement to purchase primary crop insurance general agent Crop Risk Services (CRS) from AIG. CRS is based in Decatur, Illinois, and is the seventh largest provider of multi-peril crop insurance in the United States, based on 2022 premiums. Under the terms of the transaction, ... Read the full article
BMS acquires Australian MGA to continue international growth
2nd May 2023
Specialist re/insurance broker BMS Group has acquired Australian firm GARD Insurance, which includes hospitality MGA ALE underwriting. GARD non-executive chairman Craig Patterson will join BMS as executive chairman of GARD, with a remit to grow and expand the acquired business. Patterson is a seasoned industry operator with a wealth of experience gained ... Read the full article
Midwest Holding to be acquired by Antarctica Capital for $100 million
2nd May 2023
Midwest Holding Inc. and investment firm Antarctica Capital have entered into a definitive merger agreement whereby an affiliate of Antarctica will acquire Midwest in an all-cash transaction valued at approximately $100 million. According to Midwest, under the terms of the agreement, its shareholders will receive $27.00 in cash per share, representing ... Read the full article
Verisk acquires German InsurTech SV Krug
26th April 2023
Global data analytics and technology provider Verisk has announced that it has acquired Krug Sachverständigen GmbH (SV Krug), a Germany-based motor claims solutions provider. The acquisition expands Verisk’s claims and casualty offerings across Europe. Founded in 1982, SV Krug offers highly digitalised solutions that help insurers and car manufacturers to achieve better ... Read the full article
FairFax set to acquire additional 46% stake in Gulf Insurance Group
20th April 2023
Fairfax Financial Holdings Limited has announced that it has reached a deal to more than double its stake in Gulf Insurance Group (GIG) K.S.C.P. from buying an additional roughly 46% interest from Kuwait Projects Co.(Holding) K.S.C.P. for about $860 million. When the transaction closes, Fairfax's equity interest in GIG will increase ... Read the full article
Argo shareholders approve merger with Brookfield Reinsurance
20th April 2023
Bermuda-based specialty P&C insurer Argo has announced that its shareholders have voted to approve an agreement for the company to be acquired by Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry. The all-cash acquisition proposal, made by Brookfield Reinsurance back in February, ... Read the full article
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