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.
Gallagher may still move to acquire WTW, reports
28th July 2021
Re/insurance broker Arthur J Gallagher could still seek an acquisition of all or parts of rival Willis Towers Watson after its deal with Aon fell through this week, according to Bloomberg Intelligence (BI). Gallagher had a $3.6 billion pact to buy several Willis businesses which was dependant on the Aon ... Read the full article
FG New America Acquisition Corp wraps up merger with OppFi
28th July 2021
Reinsurance and investment management firm FG Financial Group has announced the completion of FG New America Acquisition (FGNA) Corp's previously announced business combination with OppFi. The combination was approved by FGNA’s stockholders and sees the company now operating as OppFi, Inc. OppFi’s Class A common stock and warrants began trading on the ... Read the full article
Peak Re to acquire remaining 50% stake in NAGICO
28th July 2021
Hong Kong headquartered reinsurer, Peak Reinsurance Company Limited (Peak Re), has agreed to acquire the remaining 50% issued share capital of NAGICO Holdings Limited, a leading Caribbean insurance group. Peak Re acquired a 50% stake in the company back in 2016 and this latest transaction is a natural next step, says ... Read the full article
DoJ hails ‘victory for competition’ as Aon CEO laments poor timing
27th July 2021
Attorney General Merrick B. Garland has hailed the breakdown of the proposed combination of Aon and Willis Towers Watson (WTW) as a "victory for competition and for American businesses", as Aon CEO Greg Case notes poor timing and factors outside of their control. After filing a civil antitrust lawsuit to block ... Read the full article
BRP Group subsidiary buys insurance distribution platform Founder Shield
27th July 2021
Independent insurance distribution firm BRP Group’s subsidiary Millennial Specialty Insurance is to acquire a New York-based tech-enabled insurance distribution platform focused on providing commercial insurance services for clients in various high growth industries. The platform consists of FounderShield, AlphaRoot, ReShield and Scale Underwriting Services; collectively, Founder Shield. With annual revenue of approximately ... Read the full article
Gallagher confirms termination of deal to acquire certain WTW assets
27th July 2021
Arthur J. Gallagher & Co. has confirmed that its agreement to acquire certain assets of Willis Towers Watson (WTW) has been terminated owing to the collapse of the $30 billion combination of Aon and WTW. As Aon and WTW attempted to get their proposed merger over the line amid an array ... Read the full article
Willis Towers Watson looks to return Aon merger termination fee to shareholders
27th July 2021
It appears global re/insurance broker, Willis Towers Watson (WTW), has decided to return its Aon merger termination fee to shareholders, increasing its share repurchase program by $1 billion. After news broke yesterday that Aon and WTW decided to scrap their $30 billion mega-merger plans, Aon said that it would be ... Read the full article
Analysts see ‘more go-it-alone headwinds’ at WTW than Aon as merger collapses
26th July 2021
As news broke today that Aon's proposed combination with rival re/insurance brokerage Willis Towers Watson (WTW) has been terminated, analysts at Keefe, Bruyette & Woods (KBW) see greater headwinds for WTW moving forwards. The proposed $30 billion mega-merger of two of the world's largest brokers fell apart today as the ... Read the full article
Aon, WTW terminate attempted mega-merger
26th July 2021
Re/insurance broking giants Aon and Willis Towers Watson have terminated their much publicised mega-merger, 16 months after the deal was officially announced to the world. The decision appears to have been driven by what Aon Chief Executive Officer Greg Case describes as "an impasse with the US Department of Justice." Despite quickly ... Read the full article
GRP to acquire WTW’s Northern Ireland portfolio
26th July 2021
Global Risk Partners (GRP) has entered into an agreement with Willis Towers Watson (WTW) to acquire the latter's commercial risk and broking business in Northern Ireland. On completion, the £57 million gross written premium (GWP) portfolio will be integrated into ABL Group, GRP’s Northern Ireland brokerage, with ABL’s CEO Maurice Boyd ... Read the full article
Aston Lark acquires Principle Insurance in Ireland
23rd July 2021
Aston Lark Ireland has announced plans to further strengthen its personal lines insurance capabilities with the acquisition of Principal Insurance Ireland DAC. Based in Dublin, Principal Insurance was established in 2015 and is a leading player in the Irish motorcycle insurance market, with a 30%+ market share. Its 18-strong team, led by ... Read the full article
Aon – Willis and US DoJ may be able to settle early on three counts
21st July 2021
According to court documents, it appears that Aon, its acquisition target Willis Towers Watson (WTW) and the US Department of Justice (US DoJ) are hoping to reach a settlement quickly on counts related to three of the market segments where the mega-merger was deemed potentially anti-competitive. It's news that could signal ... Read the full article
Liberty Mutual Insurance looks to acquire AmGeneral Insurance
20th July 2021
U.S primary insurer Liberty Mutual Insurance has applied for regulatory approval to acquire Malaysian insurer, AmGeneral Insurance Berhad (AmGeneral). AmBank Group currently owns 51% of AmGeneral, with the other 49% owned by Insurance Australia Group (IAG). Liberty Insurance Berhad expects to acquire 100% shares of AmGeneral, and AmBank Group's share of the ... Read the full article
Insurtech Kin to go public following $1bn business combination
20th July 2021
US insurtech Kin and Omnichannel Acquisition Corp , a special-purpose acquisition company, are to combine into a $1.03 billion enterprise that is expected to be listed on the NYSE under the new ticker symbol KI. Kin has also announced plans for a national expansion, signing an agreement to acquire an inactive ... Read the full article
Vantage continues build out of US operations with acquisition of surplus lines insurer
20th July 2021
Specialty re/insurer Vantage Group Holdings Ltd. has taken over an Illinois-based domestic surplus lines insurer licensed in 47 states and renamed it Vantage Risk Specialty Insurance Company, expanding its US business operations. Throughout Q2, Vantage made numerous senior underwriting appointments within financial lines, healthcare, excess casualty and political risk & credit. The ... Read the full article
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