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.
Oxbridge Re targets insurtechs with first SPAC
19th July 2021
Cayman Islands based reinsurer, Oxbridge Re Holdings Limited, has launched a special purpose acquisition company (SPAC) called Oxbridge Acquisition Corp., which itself has filed an initial public offering (IPO) of its securities with the U.S. Securities and Exchange Commission (IPO). Oxbridge Acquisition Corp. has been established as a blank cheque company ... Read the full article
Newfront and ABD to combine into $1.35bn valued firm
19th July 2021
Tech-enabled broker Newfront Insurance has announced plans to merger with ABD Insurance and Financial Services into a combined entity that will be valued at $1.35 billion. The combination with ABD, which focuses on employee benefits, insurance and financial services, will bring together 600 employees, serve over 10,000 clients, and place more ... Read the full article
Aspida acquisitions lays groundwork for launch of life and annuity platform
16th July 2021
Aspida Holdings, an indirect subsidiary of Ares Management Corporation, has finalised its acquisition of US based insurer Global Bankers Insurance Group. The acquisition will see Global Bankers rebranded as Aspida Financial and will provide a team of over 100 insurance industry professionals and an infrastructure and technology platform Aspida believes will ... Read the full article
Judge accuses US DoJ of wasting time in Aon – Willis trial
16th July 2021
In a hearing yesterday, the US Department of Justice agreed to adjust its timeline to deliver important information related to its earlier investigation of the antitrust case to the courts much faster than previously anticipated. These materials, part of the US Department of Justice's research before the court case even began, ... Read the full article
Enstar set for $880mn share repurchase, $229mn stake in Enhanzed Re
15th July 2021
Legacy specialist Enstar Group is set to repurchase 3,749,400 of ordinary shares currently held by Hillhouse Capital Management for a total of $879.3 million. The shares represent Hillhouse’s entire interest in Enstar and consist of 16.9% total ordinary shares and 9.4% voting ordinary shares. The transaction is expected to close within a ... Read the full article
AIG offloads 9.9% share in its Life & Retirement operation to Blackstone
15th July 2021
American International Group, Inc. (AIG) has reached an agreement with Blackstone over the sale of a 9.9% stake in its Life & Retirement business, and will also sell certain affordable housing assets to Blackstone Real Estate Income Trust (BREIT). Blackstone will acquire an almost 10% stake in AIG's Life & Retirement ... Read the full article
Aon / Willis Towers Watson still debating dates, key pre-trial points with US DoJ
14th July 2021
The debate over the scheduling of key dates in the legal process continues in the build up to Aon and Willis Towers Watson's (WTW) antitrust trial with the US Department of Justice (DoJ). Late in June, after what we assume was a protracted period of negotiation, the US department of Justice ... Read the full article
Mosaic begins underwriting US transactional liability coverage
14th July 2021
Mosaic Insurance has begun underwriting transactional liability coverage in the US amid the current upsurge in mergers and acquisitions activity. Launched with a maximum initial capacity of $25 million per risk, Mosaic’s product line includes Representations and Warranties Insurance, a staple for private equity and strategic buyers and sellers in M&A ... Read the full article
Phoenix Group agrees €230mn sale of Ark Life
13th July 2021
Phoenix Group Holdings plc has reached an agreement to offload Ark Life Assurance Company DAC to Irish Life Group Limited for €230 million (£197mn) in cash, subject to customary regulatory and antitrust approvals. Ark Life is a closed book of business which manages heritage savings and protection products in Ireland. Read the full article
Liberty Mutual makes $2.30bn move for State Auto Group
12th July 2021
Liberty Mutual is preparing to acquire super-regional insurance holding company State Auto Group in a cash deal that values the company at roughly $2.30 billion, or $52 per share. The acquisition will significantly expand Liberty Mutual's position in the personal lines and small commercial insurance space. Through the deal, Liberty Mutual will ... Read the full article
KBW explores potential consequences of Aon / WTW deal break
12th July 2021
Analysts at KBW have modelled the potential impact on Aon and Willis Towers Watson (WTW) if their pending merger deal were to collapse. The firm believes that the brokers will ultimately end up selling more businesses to satisfy ongoing regulatory concerns, but the deal is currently facing significant roadblocks, including Read the full article
Aon set for further WTW divestments to appease NZ regulators
12th July 2021
Re/insurance broker Aon has been instructed by New Zealand regulators to make further divestments if its proposed mega-merger with rival player Willis Towers Watson is to be approved. Aon was cleared to move ahead with its acquisition of WTW by the European Commission last week, in an agreement that was ... Read the full article
RMS being offered for sale by owner DMGT
12th July 2021
RMS, one of the leading catastrophe risk modelling companies serving the insurance and reinsurance industry, is being offered for sale by its ultimate owner DMGT (Daily Mail and General Trust plc). DMGT said this morning in announcing a possible reorganisation and acquisition of all of its shares by its main holder, ... Read the full article
EC approval a “major step” towards completion: Aon & WTW
9th July 2021
A statement from Aon and Willis Towers Watson (WTW) describes today’s regulatory approval from the European Commission (EC) as a “major step” towards the completion of the brokers’ pending merger. The approval was described as conditional on full compliance with a substantial set of commitments offered by Aon, including the ... Read the full article
BMS Re acquires Trean Intermediaries
9th July 2021
The US reinsurance arm of specialist broker BMS has acquired Trean Intermediaries (Trean), the US-based independent reinsurance broker and services company. Trean specialises in workers’ compensation, property and casualty, accident and health, personal auto, public entity, and professional liability lines for insurer and MGA clients. The acquisition has been made to strengthen ... Read the full article
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