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.
Global Indemnity sells specialty property business to K2
11th November 2021
Property and casualty insurer Global Indemnity Group (GBLI) has sold its American Reliable specialty residential property business to specialty MGA K2 Insurance Services. Following the sale, K2 will transfer and renew the American Reliable specialty residential property business, which will be underwritten by Homesite Group, a subsidiary of American Family Mutual ... Read the full article
Hannover Re sheds stake in HDI as firm underlines ‘pure reinsurer’ focus
11th November 2021
Global reinsurer Hannover Re has announced the sale of its 49.8% stake in joint venture HDI Global Specialty SE to majority shareholder HDI Global SE. The deal underscores Hannover Re’s overarching ambition of repositioning itself as a pure reinsurer. Concurrently, the sale is seen as a way to free up capital for ... Read the full article
Venbrook bolsters E&S portfolio with acquisition of Alpharetta Underwriters
10th November 2021
Venbrook Group, LLC, a large independent insurance distribution and services firm in the U.S., has acquired Georgia-based specialty managing general agent (MGA), Alpharetta Underwriters, LLC. From its headquarters in Alpharetta, Georgia, the MGA provides tailored Excess & Surplus (E&S) solutions to the construction space. Alpharetta's team has more than 70 years of ... Read the full article
Lemonade to acquire Metromile as auto insurer’s valuation falls to $500m
9th November 2021
AI-powered insurtech Lemonade has entered into a definitive agreement to acquire pay-per-mile auto insurer, Metromile Inc., in an all-stock transaction that implies a fully diluted equity value of roughly USD 500 million, or just over USD 200 million net of cash. In late November 2020, it was revealed that Metromile ... Read the full article
Marsh McLennan Agency acquires Pelnik Insurance
8th November 2021
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has acquired Pelnik Insurance, an independent agency in North Carolina. Founded in 1994, Pelnik Insurance, led by CEO Chris Pelnik, offers business insurance, employee health and benefits, and private client services to midsize businesses and individuals throughout the Mid-Atlantic. Pelnik has 19 employees across ... Read the full article
Compre acquires SiriusPoint legacy portfolio for $417mn
8th November 2021
International specialist legacy group, Compre, has completed the acquisition of a $417 million legacy liability portfolio from SiriusPoint, having received all necessary regulatory approvals. The transaction, which was announced in August, structured as a loss portfolio transfer, has been underwritten by Compre’s class 3A Bermudian reinsurer, Pallas Reinsurance Company. The portfolio ... Read the full article
Concirrus completes acquisition of Spark Insights
4th November 2021
Insurtech firm Concirrus has completed its acquisition of Spark Insights, a provider of decision analytics to the insurance market. Spark Insights was founded in 2018 by A insurtech expert Ira Scharf with the aim of using AI, machine learning and computer vision combined with satellite-based remote sensing and global earth observations ... Read the full article
Generali seals takeover of rival Italian broker Cattolica
4th November 2021
Italian broker Generali has completed its acquisition of rival firm Cattolica in a previously-announced deal that’s intended to enable an eventual merging of the two organisations. Generali, already a significant shareholder, required a controlling stake in the firm in order to lay the regulatory groundwork for its merger plans. The consideration ... Read the full article
Arthur J. Gallagher acquires The VanDyke Group
4th November 2021
Global insurance broker, Arthur J. Gallagher & Co. has acquired The VanDyke Group, which offers employee benefits consulting and HR solutions, as well as commercial and personal property/casualty coverages. The VanDyke Group covers clients across Northern Illinois, Northern Indiana and Southern Wisconsin. Matthew VanDyke and his team will remain in their current location ... Read the full article
Resolution Life agrees to acquire full ownership of AMP Life
3rd November 2021
Resolution Life, an international life insurance group, has reached an agreement to acquire AMP Limited's minority equity stake in Resolution Life Australasia for AUD 524 million. The life insurer entered Australasia via the acquisition of AMP Life from AMP Limited. Under the original agreement, AMP retained a minority equity interest ... Read the full article
Cordillera to acquire Sunset Life, backed by Investcorp
2nd November 2021
Cordillera Holdings, a holding company focused on investing in the insurance and reinsurance sector, has announced plans to acquire Sunset Life Insurance Company of America. Cordillera was founded in 2020 with initial capital from alternative investment manager Investcorp and its affiliates, and it is Investcorp that will provide the initial capital ... Read the full article
Mount Logan finalises takeover of Ability
2nd November 2021
Alternative asset management and insurance solutions company Mount Logan Capital Inc. has completed its previously announced acquisition of Ability Insurance Company for $20 million. The purchase price was comprised of the issuance of an unsecured promissory note in the amount of $15 million and $5 million of common shares of Mount ... Read the full article
Allstate finalises sale of life arm to Blackstone
2nd November 2021
US primary insurance carrier, The Allstate Corporation, has completed the sale of Allstate Life Insurance Company (ALIC) and certain subsidiaries to entities managed by private equity investment giant, Blackstone. First announced in January 2021, the deal involved total proceeds of $4 billion, which included Blackstone’s $2.8 billion purchase price, as ... Read the full article
Run-off group Marco acquires Capita’s insurance operations
2nd November 2021
Marco Capital Holdings Limited, the European P&C insurance run-off group, has expanded its headcount to more than 300 insurance specialists via the acquisition of Capita plc's insurance businesses, Capita Commercial Insurance Services (CCIS) and Capita Managing Agency (CMA). Launched in August of last year and headquartered in Malta, Marco is a ... Read the full article
Aston Lark acquires Bainbridge Collins
1st November 2021
Insurance broker Aston Lark has acquired independent insurance broker Bainbridge Collins, which specialises in the ‘mid corporate’ sector. In addition to offering a broking service, it also offers a comprehensive risk management service, offering quality advice and guidance on Health & Safety and Loss Prevention measures. Peter Blanc, Aston Lark Group CEO, ... Read the full article
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