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.
Kemper wraps up $370mn American Access acquisition
9th April 2021
US insurer Kemper has closed its previously announced acquisition of American Access Casualty Company for a deal valued at around $370 million. The acquisition was first announced in November 2020 and also includes American Access' related captive insurance agency Newins Insurance Agency Holdings and its subsidiaries (collectively known as AAC). AAC ... Read the full article
Star Insurance acquired by The Hilb Group
8th April 2021
The Hilb Group, LLC (THG) has announced the acquisition of Indiana-based Star Insurance Agency, effective March 1, 2021. Star Insurance Agency is a full-service agency with personal and commercial insurance offerings, including both P&C and employee benefits. As a part of the transaction, Star leaders Leslee Robinson and Billy Davenport, and the ... Read the full article
Aston Lark acquires DNA Insurance Services
8th April 2021
Aston Lark, the chartered insurance broker backed by Goldman Sachs, has acquired DNA Insurance Services to further strengthen its motor trade expertise. DNA Insurance was established in 2003, with offices in Romford and Southampton. The motor trade specialist also covers additional services across business insurance and private client home and car insurance. Peter ... Read the full article
MetLife completes sale of US P&C business to Zurich
8th April 2021
MetLife, Inc. has announced the completion of its previously announced sale of Metropolitan Property and Casualty Insurance Company and certain wholly-owned subsidiaries to Farmers Group, Inc., a subsidiary of Zurich Insurance Group. First reported in November, the $3.94 billion deal sees Farmers Group jointly acquire MetLife Auto & Home ... Read the full article
Porch Group completes Homeowners of America takeover
7th April 2021
Software company Porch Group has completed its previously announced acquisition of Homeowners of America (HOA), a property and casualty insurance company that specializes in residential property coverage for homeowners and investors. HOA is a managing general agent and insurance carrier hybrid and primarily operates in Texas, Arizona, North Carolina, South ... Read the full article
Arthur J. Gallagher acquires Parisco in Norway
7th April 2021
International insurance brokerage firm Arthur J. Gallagher & Co. has announced the acquisition of Parisco, a marine and energy broker based in Norway. Founded in 2001, Parisco serves contractors, offshore service vessels, exploration and production, shipping, passenger vessels and renewable energy clients. Following the acquisition, Parisco head Dag Magne Torjussen and his ... Read the full article
Insurer M&A activity to ‘at least double’ in 2021, says S&P
7th April 2021
Analysis by S&P claims that for 2021, insurance carrier merger and acquisition (M&A) activity is poised for a breakout year, with deal value potentially reaching as high as $71.65 billion in the aggregate. Deal value of this magnitude would represent an increase of 269.5% from the levels seen in 2020, and ... Read the full article
Aegon business sale blocked in Hungary
7th April 2021
Hungarian regulators have refused to give approval to the previously announced sale of Aegon’s Central and Eastern European operations to Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG). Under the €830 million deal, VIG had agreed to acquire Aegon’s insurance, pension, and asset management business in Hungary, Poland, Romania, and ... Read the full article
MS Amlin acquires ITMO to spearhead U.S. MGA platform
7th April 2021
Lloyd's re/insurer MS Amlin is set to acquire U.S. Managing General Agency (MGA), International Transportation and Marine Office, LLC (ITMO) and its associated subsidiaries, subject to customary closing conditions. The acquisition is part of the firm's new strategy to provide access to high quality specialty MGAs in the U.S., which is ... Read the full article
Genworth terminates merger agreement with Oceanwide
7th April 2021
Mortgage insurer Genworth Financial has terminated its merger agreement with China Oceanwide Holdings Group, allowing it to pursue its revised strategic plan without restrictions and without uncertainty regarding its ultimate ownership. The proposed acquisition had initially been set for June 30th, 2019, however this date was pushed back by five months ... Read the full article
MS&AD targets US with $4.5bn war chest: reports
7th April 2021
Mitsui Sumitomo Insurance, part of MS&AD Insurance Group Holdings, intends to spend as much as USD 4.5 billion (500bn yen) on mergers and acquisitions (M&A) through 2023, with a focus on the North American market, reports Nikkei. It's understood by Nikkei that the Japanese insurer is eager to diversify its portfolio ... Read the full article
Amwins acquires Worldwide Facilities
6th April 2021
Amwins Group, the independent wholesale distributor of specialty insurance products in the US, has completed the acquisition of broker Worldwide Facilities. Worldwide is set to compliment Amwins' brokerage, binding authority, underwriting and group benefits capabilities and growth strategy. The acquisition will also strengthen Amwins' casualty and professional lines capabilities, specifically around Construction, ... Read the full article
Ardonagh Global Partners launches, acquires AccuRisk
6th April 2021
Re/insurance broker The Ardonagh Group has announced the launch of Ardonagh Global Partners and its first acquisition in the US. Led by former Chief Executive Officer of Bravo Group Des O'Connor, AGP will look to invest in leading platforms operating in markets and product verticals outside of the UK and Europe ... Read the full article
Aviva wraps up €453m sale of Italian life venture to UBI Banca
6th April 2021
Aviva has announced the completion of its previously announced 80% shareholding in Italian life insurance joint venture to its partner UBI Banca. Aviva received €453 million in cash consideration, a figure which includes €40 million received for the replacement of a subordinated loan provided by Aviva Italia Holding S.p.A. to Aviva ... Read the full article
Marsh (MMA) acquires Montana-based PayneWest Insurance
6th April 2021
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has announced the acquisition of PayneWest Insurance, a Missoula, Montana-based independent agency. PayneWest, which was founded almost 30 years ago, provides business insurance, surety, employee benefits, and personal insurance services to firms and individuals across the Northwest through ... Read the full article
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