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.
Aon’s India broking operations shift under the Aon brand name
15th June 2021
Aon has completed its acquisition of a 49% stake in Indian broker Anviti, which has since been rebranded as Aon India Insurance Brokers Private Limited. The takeover was announced back in 2020 but has only now gained regulatory approval. As a result, Aon said that it will now operate its insurance and ... Read the full article
Aston Lark acquires McMahon Galvin
14th June 2021
Aston Lark Ireland, the Irish branch of the chartered broker backed by Goldman Sachs, has acquired insurance brokerage McMahon Galvin. McMahon Galvin was founded in Dublin in 1970 and focuses on home and car insurance for individuals along with a full range of insurance services to businesses. Peter Hanlon and John Galvin ... Read the full article
Intact Financial sells Danish business to Alm. Brand for $1.26bn
14th June 2021
Canadian property and casualty (P&C) insurer Intact Financial Corporation has announced plans to sell Codan Forsikring A/S's Danish business (Codan DK) to Alm. Brand A/S Group. Codan DK is owned by Scandi JV Co 2 A/S, which is in turn co-owned Intact and Tryg A/S following their recent acquisition of ... Read the full article
Aon / WTW deal expected to gain EU antitrust approval by early July: Reuters
11th June 2021
Reuters, citing people familiar with the matter, has said that re/insurance broker Aon's proposed $30 billion combination with Willis Towers Watson (WTW) is expected to gain EU antitrust approval later in June or in early July. It looks as though the remedy package Aon submitted to the European Commission (EC) is ... Read the full article
Zurich considers sale of €200m Italy life portfolio: reports
11th June 2021
Global insurer Zurich is reportedly considering a sale of an Italian portfolio of life insurance policies worth around €200 million, according to sources at Reuters. The publication said that Zurich could also be looking to sell its German life back book business, and is working with UBS to explore options. Many life ... Read the full article
USAA to acquire auto-focused insurtech Noblr
11th June 2021
Primary mutual insurer USAA has today announced its intention to acquire insurtech firm Noblr, Inc. as it looks to offer usage-based insurance (UBI) to its members. Noblr offers smart car insurance that rewards its members' good driving habits by giving highly accurate, competitive rates that are based on numerous factors, including ... Read the full article
Amwins acquires Maryland-based General Agent, MTDA
9th June 2021
Amwins has announced the acquisition of CBIZ M.T. Donahoe & Associates, LLC, (MTDA), which will join its Group Benefits division, further complementing the services of Amwins Connect Administrators. MTDA is a Maryland-based general agent focused on employee and individual benefits and services. Following the acquisition, of which the terms were not disclosed, ... Read the full article
Alliant closes merger with personal lines insurer Confie
9th June 2021
Alliant Insurance Services, the specialty insurance brokerage firm, has completed its merger agreement with US personal lines distributer Confie. Announced in April 2021, the deal brings Confie’s personal insurance brands, more than 3,500 employees, and in excess of 1 million customers under the Alliant banner. Confie was founded in 2008 and ... Read the full article
Stone Point, Insight complete $5.9bn Corelogic acquisition
4th June 2021
The $5.9 billion acquisition of catastrophe risk modeller CoreLogic by Stone Point Capital and Insight Partners has now been completed, according to an official statement. Shareholders voted to approve the acquisition back in April after a long drawn out saga involving the cat modeller and various other parties, including Stone ... Read the full article
Aon announces further $1.4bn divestment to appease US regulators
3rd June 2021
Re/insurance broker Aon has announced the sale of two businesses for a combined total consideration of $1.4 billion, during a week that has seen its acquisition of Willis Towers Watson scrutinised by the US Department of Justice (DOJ). As part of the newly-unveiled divestiture, Aon’s US retirement business will be ... Read the full article
Aon / WTW believe DOJ leadership unlikely to challenge merger: reports
3rd June 2021
Specialist antitrust and mergers and acquisitions (M&A) publisher, CTFN, has reported that Aon and Willis Towers Watson (WTW) believe that leadership at the US Department of Justice (DOJ) is unlikely to challenge their proposed combination. Reports emerged recently that the DOJ has adopted a dual-track strategy for its review of ... Read the full article
Allstate to acquire SafeAuto for $300m
3rd June 2021
US primary insurer Allstate Corporation has agreed to acquire SafeAuto, a non-standard auto insurance carrier focused on providing state-minimum private-passenger auto insurance. Total consideration includes a $270 million cash purchase price plus approximately $30 million in pre-close dividends of certain non-insurance assets. Headquartered in Columbus, Ohio, SafeAuto is expected to add capabilities ... Read the full article
Industry veterans team up on new fronting company, Concert
2nd June 2021
A newly-formed business dedicated to insurance fronting has launched today, after securing the required capital from its founders. Concert Group Holdings has been established by Strategic Risk Solutions’ Brady Young, Southern Insurance Underwriters’ Wes Duesenberg and Christopher Collins from Corinthian Re. Concert has been formed in partnership with Century Equity Partners and ... Read the full article
Progressive completes takeover of Protective Insurance
2nd June 2021
Property and auto-focused insurance group Progressive has announced the completion of its acquisition of Protective Insurance Corporation for approximately $338 million. First announced in February 2021, the transaction saw Protective shareholders receive $23.30 per share in cash, without interest, for their Class A and Class B common shares. The per share ... Read the full article
Tryg and Intact complete RSA acquisition
2nd June 2021
Intact Financial Corporation and Scandinavian insurer Tryg have completed the acquisition of RSA Insurance Group. Tryg and Intact will now be able to initiate the separation of the RSA business, providing Tryg with sole legal ownership of Trygg-Hansa in Sweden and Codan in Norway whilst Intact continues to co-own Codan's Danish ... Read the full article
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