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 prices share offering to partially fund Validus acquisition
24th May 2023
RenaissanceRe Holdings Ltd. (RenRe) revealed the pricing of its underwritten public offering of 6,300,000 common shares, set at a price of $192.00 per share, before underwriting discounts and commissions. The net proceeds from this offering will be allocated to cover a portion of the cash consideration for the Validus Acquisition, along ... Read the full article
RenRe CEO emphasises forward-looking approach with Validus Re acquisition
24th May 2023
RenaissanceRe (RenRe) CEO Kevin O’Donnell highlighted the forward-looking nature of the company's acquisition of Validus Re. RenRe is aiming to become a top-5 global property and casualty reinsurer with the acquisition of Validus and all its subsidiaries from global player AIG for around $3 billion. "This is a forward looking transaction. ... Read the full article
RenRe can deploy Validus Re into its portfolio on day one: CEO O’Donnell
23rd May 2023
"We expect we can fully deploy Validus Re into our portfolio on day one, and fully integrate it into our risk management system soon afterwards, diminishing execution risk," says RenaissanceRe CEO Kevin O'Donnell, following the news that the firm is set to acquire Validus from AIG for $3bn. "We believe ... Read the full article
Brown & Brown to acquire Kentro Group by Q4 2023
23rd May 2023
J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc., announced that the company has entered into an agreement to acquire Kentro Capital Limited. The transaction is expected to close in Q4 2023, subject to certain closing conditions, including the receipt of required regulatory approvals. The Kentro Group and its ... Read the full article
RenRe’s GPW poised to expand by 30% to $12bn following Validus Re acquisition
23rd May 2023
Bermuda-based RenaissanceRe's acquisition of Validus Re is expected to expand the reinsurer's gross premiums written (GPW) by around 30%, resulting in a combined portfolio of almost $12 billion, creating a top-5 global property and casualty (P&C) reinsurer As we wrote previously, RenRe has agreed to acquire Validus and all its ... Read the full article
RenRe acquiring Validus from AIG for $3bn, to become top-5 P&C reinsurer
23rd May 2023
RenaissanceRe, the Bermuda headquartered re/insurer, is aiming to become a top-5 global property and casualty reinsurer with the acquisition of Validus and all its subsidiaries from global player AIG for around $3 billion. RenaissanceRe (RenRe) is set to raise capital to complete this significant acquisition, with an offering of 6.3 million ... Read the full article
Arthur J. Gallagher acquires Texas-based RHP General Agency
19th May 2023
Arthur J. Gallagher & Co's subsidiary, Risk Placement Services, Inc. (RPS), has acquired Houston, Texas-based RHP General Agency, Inc. RHP is a licensed managing general agency specialising in residential property insurance for clients throughout Texas. According to the firm, its main focus is providing insurance on properties that don’t qualify for coverage ... Read the full article
Sampo to become pure-play P&C insurer after demerger approved
19th May 2023
In line with its P&C-focused strategy, Sampo plc announced a strategic review of Mandatum’s role within the group on December 7th, 2022. After assessment of options, the Board resolved to propose a demerger of Sampo to separate Mandatum. At the Annual General Meeting, held May 17th, 2023, it was resolved ... Read the full article
Tysers parent AUB Group raises A$150m for M&A drive via private placement
19th May 2023
Tysers parent AUB Group, has announced that it has successfully raised A$150 million to support its “attractive M&A pipeline”, after completing an oversubscribed placement of 6.25 million new fully paid ordinary shares at A$24.00 per share. According to the announcement, the shares represent a 7.2% discount to the last traded price ... Read the full article
Risk Strategies expands presence in Florida with acquisition of Combined Underwriters of Miami
17th May 2023
Insurance brokerage and risk management firm, Risk Strategies, has acquired Combined Underwriters of Miami - a full-service independent insurance agency that provides commercial and personal insurance products to clients in South Florida. Terms of the deal were not disclosed. Headquartered in Miami, Combined Underwriters offers a variety of insurance and employee benefit ... Read the full article
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
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