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.
Metromile shareholders approve acquisition by Lemonade
1st February 2022
Shareholders in the pay-per-mile auto insurer, Metromile Inc. have given their approval to the impending acquisition of the company by insurtech Lemonade. At a Special Meeting of Metromile stockholders held today, approval was given to a proposal to adopt the merger agreement entered into with Lemonade, Inc., which is aiming to ... Read the full article
Generali takes majority stakes in Indian life and P&C ventures
27th January 2022
Italian insurer Generali has announced new agreements to become the majority shareholder in both its Life and P&C joint ventures in India. The company plans to acquire 25% of the shares of P&C business Future Generali India Insurance (FGII) and 16% of Life business Future Generali India Life (FGIL), bringing its ... Read the full article
Kin and SPAC terminate planned merger amid unfavourable market conditions
27th January 2022
The proposed business combination agreement between insurtech Kin Insurance and Omnichannel Acquisition Corp., a special-purpose acquisition company (SPAC), has been terminated due to "current unfavourable market conditions." It was revealed in July of 2020 that Kin, a direct-to-consumer homeowners insurance technology company, intended to go public via a $1 billion ... Read the full article
Howden acquires Italian firm Tower
24th January 2022
Broking company Howden has bought the Italian broking and risk consultants Tower. This is another acquisition of an Italian company by Howden, following the firm’s deal to take on Andrea Scagliarini in July last year. Howden’s newest acquisition specialises in the jewellery sector and is based in Vicenza. Luigi Sturani, regional CEO ... Read the full article
Graubündner Kantonalbank agrees to acquire 30% of Twelve Capital
21st January 2022
Swiss cantonal bank Graubündner Kantonalbank (GKB) has entered an agreement to acquire 30% of stakes in independent investment manager Twelve Capital Holding AG (Twelve Capital), a company that specialises in investments in the insurance sector. Twelve Capital is based in Read the full article
Horace Mann acquires Madison National Life
20th January 2022
Horace Mann Educators Corporation, an insurance and retirement solutions company for US educators and school employees, has completed its acquisition of Madison National Life Insurance Company, Inc. Madison National Life is a provider of group life, disability and specialty health insurance for educators and public sector employees. The transaction was funded with ... Read the full article
American Financial Group buys software company Verikai
19th January 2022
American Financial Group has announced that it has bought machine learning company Verikai. The latter, which has reportedly developed a machine learning tool to help assess insurance risk, will continue to be led by Jeff Chen, its current president and CEO. Carl H. Lindner III, co-CEO of American Financial Group, said that ... Read the full article
Blackstone and Westland expands partnership deal
17th January 2022
Independent property and casualty (P&C) insurance broker Westland Insurance Group has expanded its partnership with Blackstone Credit (Blackstone). Since its initial investment a year ago, Blackstone has committed over $1.2 billion to support Westland’s growth, which has included a facility dedicated to funding the company’s acquisition strategy. The company has expanded into ... Read the full article
SRG agrees to acquire Bridge’s Special Risks team
14th January 2022
Specialist Risk Group (SRG) has agreed to acquire the London-based Special Risks team from Bridge Insurance. The team, led by Jonathan Starkey and David Walker, have years of combined experience in arranging insurance programmes for businesses operating in conflict-affected territories. This includes mine clearance, humanitarian assistance and disaster recovery. The team will join ... Read the full article
Xenia acquires trade credit & surety business from Tysers
13th January 2022
Credit insurance and surety specialist Xenia Broking Group has acquired the UK trade credit and surety business of Tysers Insurance Brokers (Tysers). The transaction was completed on 11th January and marks Xenia’s eighth acquisition to date and fifth in the last nine months, having acquired Peter Hill Credit & Financial ... Read the full article
Midwest sells majority of a reinsurance cell to ORIX Corp.
12th January 2022
Midwest Holding Inc., a technology-driven life and annuity platform, has sold a majority ownership of a consolidated reinsurance facility to a subsidiary of ORIX Corporation USA. Under the terms of the agreement, a subsidiary of ORIX USA purchased 70% of Seneca Incorporated Cell, LLC 2020-01 (SRC1), a Midwest consolidated reinsurance cell. Midwest ... Read the full article
UIM and Shield Indemnity merge to create new P&C holding company
12th January 2022
Universal Shield Insurance Group, Inc. has now launched, a new property and casualty (P&C) holding company formed following the merger of UIM Holding Company and its subsidiary, Universal Fire & Casualty Insurance Company, with Shield Indemnity, Inc. Universal Fire & Casualty Insurance Company is an admitted insurer and insurtech with a ... Read the full article
Swiss Re offloads remaining Phoenix stake for £440m
12th January 2022
Reinsurance giant Swiss Re has exited its shareholding in Phoenix Group Holdings by selling its remaining 66,199,917 ordinary shares in the savings and retirement company for approximately £440 million. Swiss Re sold the shares at a price of 664 pence per ordinary share, or 3.1% below yesterday's close, which valued the ... Read the full article
B.P. Marsh & Partners to sell Summa shares for €9.7mn
12th January 2022
Specialist early-stage investor B.P. Marsh & Partners has announced the sale of its entire 77.25% shareholding in Summa Insurance Brokerage (Summa), the Madrid based Spanish insurance broker consolidator, to Acrisure España, the Spanish subsidiary of the global financial services business. Upon completion, the group will receive €9,715,484 (£8,113,817), after all associated ... Read the full article
Helios secures syndicate capacity of £3.6m through latest acquisitions
11th January 2022
Helios, an investment vehicle that acquires and consolidates underwriting capacity at the Lloyd’s re/insurance marketplace, has acquired a further three LLVs for a consideration of £2.4 million. These acquisitions follow Helios' acquisition of three LLVs back in December, and see the firm acquire syndicate capacity of £3.6 million. Additionally, Helios says ... Read the full article
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