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.
AssuredPartners acquires Quest Benefits, Inc.
14th October 2022
Broker, AssuredPartners, Inc. has announced that it has acquired Quest Benefits, Inc. Located in Chantilly, VA, Quest is now the 23rd acquisition completed by AssuredPartners so far in 2022. In a press release, it notes that the team will remain under the leadership of President, Sami Satouri. “Quest Insurance was thrilled to celebrate ... Read the full article
Allianz X to acquire Innovation Group
12th October 2022
Allianz X, the digital investment unit of the Allianz Group, has announced it is to acquire Innovation Group, a service provider for the management of complex claims in the automotive and real estate sector. In the announcement, Allianz X stated it has entered into binding agreements with the shareholders of the ... Read the full article
Hallmark sells E&S operations to Core Specialty
10th October 2022
Property and casualty firm Hallmark has sold its excess and surplus lines operations to Core Specialty. The company said in a statement that the transaction is taking place for $40m cash, plus an estimated $19.9m consideration for the acquisition costs associated with certain net unearned premium reserves. The transaction is comprised of ... Read the full article
Allianz completes acquisition of Jubilee businesses in East Africa
10th October 2022
Allianz has announced that it has completed its transaction to acquire a majority stake in Jubilee Holdings Limited’s general insurance business in East Africa, namely in Kenya, Uganda, Tanzania, Burundi and Mauritius. The two companies had originally announced the $100 million takeover back in September 2020, when Allianz agreed to ... Read the full article
bolttech expands in Indonesia with Axle Asia acquisition
7th October 2022
Singapore-based international insurtech, bolttech, has announced it has completed the acquisition of a majority shareholding in PT Axle Asia, an established insurance broker in Indonesia. Founded in 2008, Axle Asia is a Jakarta-based insurance broker serving a diverse range of clients across corporate lines and employee benefit insurance. Bolttech suggests the addition ... Read the full article
Munich Re acquires API-focused insurtech
6th October 2022
Reinsurance giant Munich Re has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software-as-a-Service (SaaS) for the insurance industry’s ecosystem. apinity is an API software platform that enables insurers to utilise third-party API services, in turn making it possible to transparently manage both ... Read the full article
Aston Lark Ireland announces acquisition of Pembroke Insurances
6th October 2022
Aston Lark Ireland, an insurance broker and Howden company, has announced the acquisition of Pembroke Insurances Limited. Set up in 2007 by Graham Weir and John McGuire, Pembroke Insurances has been providing commercial insurance solutions for over a decade, and has grown a strong reputation as a trusted name within the ... Read the full article
Accenture acquires P&C tech services provider Blackcomb
6th October 2022
Professional services firm Accenture has announced the acquisition of Blackcomb Consultants, a specialist technology services provider to P&C insurance carriers. Headquartered in Chicago, Illinois, Blackcomb is an independent partner of Guidewire, the P&C cloud platform. Its offerings include policy administration system implementations and upgrades, production support, cloud-hosted services, performance-improvement and organizational-change services. Blackcomb ... Read the full article
Ardonagh Specialty to acquire Oxford Insurance Group
6th October 2022
Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group's portfolio of specialist reinsurance and wholesale broking brands, has announced it has agreed to acquire Lloyd’s broker Oxford Insurance Group. Upon completion, Oxford’s brands and 125 people will become part of $6 billion GWP Ardonagh Specialty. Oxford Insurance Group ... Read the full article
Howden acquires marine broker Seasecure in France
6th October 2022
International insurance broker Howden has announced the acquisition of independent French marine broker Seasecure Group. The acquisition of Seasecure Group, is one of France’s largest Marine and Cargo insurance brokers, is expected to help Howden’s continued expansion into the French market. Founded in 2008 and headed by Jean Brossollet, Seasecure comprises two ... Read the full article
US life M&A activity to slow amid economic & regulatory concerns: Moody’s
5th October 2022
According to a report from Moody's, M&A and disposition activity within the US life insurance sector will continue in 2022 and 2023, however, weakening macroeconomic conditions and new regulatory hurdles will likely slow activity and somewhat reduce deal flow. From a credit perspective, M&A and divestitures are generally good for sellers, ... Read the full article
Ardonagh Europe completes acquisition of Léons Group, in the Netherlands
5th October 2022
Ardonagh Europe, a subsidiary of The Ardonagh Group, has completed its acquisition of Léons Group, an independent family-owned insurance brokerage and consultancy firm in the Netherlands. The acquisition was originally announced in July earlier this year. Headquartered in Amsterdam and founded in 1951 by Max Léons, Léons Group specialises in full-service ... Read the full article
Jencap acquires Tarheel Insurance Services
5th October 2022
Jencap Group has announced that it has agreed to acquire the assets of Tarheel Insurance Services, Inc., a full-service specialty workers’ compensation wholesale brokerage based in Statesville, NC. Tarheel is set to operate under the auspices of the Jencap Insurance Services Inc. (JCIS) division. Bruce Peddle, President of JCIS, commented, “Tarheel provides ... Read the full article
2021 active year for M&A, says AM Best
4th October 2022
A new report from AM Best says that 2021 was an active year for mergers and acquisitions with large block reinsurance transactions leading to a 41% increase in admitted assets owned by private equity firms. The report, Private Equity Continues to Make Inroads in Insurance Industry, AM Best states that as ... Read the full article
Athora Belgium acquires life insurance portfolio from NN Insurance Belgium
4th October 2022
Athora Belgium, a wholly owned subsidiary of life insurance group Athora Holding (Athora), has announced it has completed the acquisition of a closed-book individual life portfolio from NN Insurance Belgium. The transaction brings its assets under management to 11.4 billion euros, and is in line with Athora’s growth strategy focused on ... Read the full article
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