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.
Argo exploring options including sale and merger
28th April 2022
Argo has said its board of directors has begun to explore ‘strategic alternatives’ including a potential sale, merger, or other strategic transaction. The board also announced the postponement of Argo’s 2022 annual general meeting of shareholders until the second half of this year. The board believes it is in the best ... Read the full article
Arthur J. Gallagher acquires G.A, Mavon & Co.
21st April 2022
Global insurance broker, Arthur J. Gallagher & Co. has announced the acquisition of G.A, Mavon & Co. and its Mavco Insurance Agency, Inc. subsidiary. Terms of the transaction were not disclosed. Founded in 1916, G.A. Mavon & Co. is a fourth generation, family-run, standard and specialty lines wholesale broker. It’s retail insurance ... Read the full article
European Commission clears path for Covéa to acquire PartnerRe
19th April 2022
The European Commission has cleared the way for Covéa to acquire PartnerRe. The deal, which has been valued at $9bn, has been in the works since last year. Back in October, EXOR and Covéa signed a memorandum of understanding that the former would sell the reinsurer in its entirety to ... Read the full article
Alleghany confirms end of “go-shop” period under Berkshire merger agreement
19th April 2022
The "go-shop" period under the merger agreement between Alleghany Corporation and Berkshire Hathaway has now ended, meaning the former is now bound by customary "no-shop" restrictions under the definitive merger agreement. Under the terms of the arrangement, Alleghany and its representatives were allowed to solicit and consider alternative acquisition proposals from ... Read the full article
Xenia Broking takes majority stake in Hong Kong-based Capstone
13th April 2022
Xenia Broking Group Limited, the credit insurance and surety specialist, has acquired a majority stake in Hong Kong-based insurance broker, Capstone Insurance Brokers Limited - its ninth acquisition in three years. The takeover of Capstone Insurance Brokers marks the beginning of Xenia's international expansion and broadens the group's product offering into ... Read the full article
Munich Re to buy Clareto
13th April 2022
Munich Re Life US, part of the global reinsurer, has signalled its intent to buy medical record firm Clareto. The reinsurance giant said it had signed a definitive agreement to acquire the firm, which has partnerships with over 25 health information exchanges and electronic health record software vendors. Munich Re said in ... Read the full article
Victor steps into reinsurance with Regional Treaty Services acquisition
13th April 2022
Victor, a global managing general underwriter (MGU), has acquired the business of Regional Treaty Services Corporation (RTSC), a privately held reinsurance MGU. Founded in 2003, RTSC underwrites and manages three reinsurance facilities for small to midsize US-based insurers primarily writing personal lines, small agriculture, and main street commercial business. John Pfautz, founder ... Read the full article
KKR invests in Shriram General Insurance Company
13th April 2022
Global investment firm, KKR and Shriram General Insurance Company (SGI) have announced the signing of definitive agreements under which, subject to the receipt of the necessary regulatory approvals, KKR will acquire a 9.99% stake in SGI. KKR’s investment will help position SGI for continued growth in India’s fast-growing general insurance industry. Founded ... Read the full article
Distinguished Programs gets majority investment from Aquiline
12th April 2022
Independent program manager Distinguished Programs has entered into a definitive agreement for private investment firm Aquiline Capital Partners (Aquiline) to acquire a majority stake in the company and has announced senior leadership changes. Aquiline is based in New York and London with $7.5 billion in assets under management, and has not ... Read the full article
UPC plans to consolidate its four Florida domiciled insurance carriers
12th April 2022
United Insurance Holdings Corp. (UPC Insurance), the Florida-headquartered property and casualty (P&C) insurer, has announced a proposed reorganisation plan to consolidate its four Florida domiciled insurance carriers into three, creating a more efficient operating structure going forward. The company is currently seeking regulatory approval to merge Journey Insurance Company into American ... Read the full article
Alleghany asked Buffett for more, considered break-up of business units
12th April 2022
Alleghany Corporation had sought to counter Warren Buffett's acquisition offer during negotiations, seeking more than the initial $850 per share price. A proxy filing deposited with the SEC also reveals that Alleghany explored the potential break-up of its business units, to identify whether a potential sale or spin-out of one or ... Read the full article
WTW to complete acquisition of WTW India
12th April 2022
WTW has received approval from the Insurance Regulatory and Development Authority of India on its acquisition of the remaining 51% shares in WTW India. In addition, the firm has announced that Vivek Nath has been appointed as head of India for WTW. The transaction will see WTW add the insurance broking ... Read the full article
M&A activity continued to pick up in 2021: Sidley
8th April 2022
According to Sidley Global's Insurance Review, the resurgence in insurance mergers and acquisitions (M&A) that characterised the last two quarters of 2020 continued to pick up throughout 2021, with very few lingering effects from the COVID-19 pandemic that had suppressed deal activity in early 2020. Last year saw the consummation of ... Read the full article
AJ Gallagher acquires UK claims administrator
6th April 2022
Global insurance broker, Arthur J. Gallagher & Co., has announced its acquisition of UK third-party claims administrator Claims Settlement Agencies Ltd (CSA). Arthur J. Gallagher’s risk management services subsidiary, Gallagher Bassett International Ltd (GB), carried out the purchase of CSA, which is based in Hadleigh, Essex. Founded in 1990, CSA specializes in ... Read the full article
R&Q ratings under review after takeover announcement
5th April 2022
AM Best has placed the ratings of R&Q and its subsidiaries under review with developing implications, following last week’s announcement that the company will be acquired by one of its major shareholders, in an deal backed by investment group 777 Partners. The developing implications reflect uncertainties surrounding R&Q’s prospective risk-adjusted ... Read the full article
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