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.
Equitable, Venerable wrap up $12bn annuity reinsurance agreement
1st June 2021
Financial services firm Equitable Holdings has successfully closed its previously-announced $12 billion transaction with Venerable to reinsure legacy variable annuity policies sold between 2006 and 2008. AllianceBernstein will serve as the preferred investment manager for the transferred general account assets. As part of the deal, Equitable has also announced the acquisition ... Read the full article
Generali completes takeover of AXA’s Greek business
1st June 2021
Generali has completed its acquisition of AXA's Life & Savings and Property & Casualty businesses in Greece, for a total cash consideration of €167 million. Announced back in December 2020, the deal also sees Generali enter into a 20-year exclusive distribution agreement with Alpha Bank. The partnership with Alpha Bank, which ... Read the full article
Austral Re acquires Markel Brazil businesses
1st June 2021
Brazilian reinsurance company Austral Re has acquired the run-off reinsurance operations of Markel Resseguradora do Brasil, and its parent company Markel Participações (Markel Brasil), with the value of the deal not currently being disclosed. This marks Austral’s second acquisition within the last two years, as the reinsurer expands through the South ... Read the full article
American Financial closes $3.5bn anuity business sale to MassMutual
1st June 2021
American Financial Group has wrapped up the sale of its annuity businesses to MassMutual, including Great American Life Insurance Company and its two insurance subsidiaries, Annuity Investors Life Insurance Company and Manhattan National Life Insurance Company. The company has also offloaded broker-dealer affiliate, Great American Advisors, Inc., and insurance distributor, AAG ... Read the full article
Swiss Re sells remaining stake in New China Life: reports
28th May 2021
Reports today from media company Caixin suggest that Swiss Re may have sold its remaining stake in Beijing-based life insurer New China Life Insurance Co. Swiss Re bought 152.9 million shares in New China Life in 2013, but then sold almost half of these a few years ago in a deal ... Read the full article
Buckle completes purchase of additional legacy assets from Atlas
28th May 2021
US-based commercial auto insurer Atlas Financial Holdings has announced the previously disclosed sale of further legacy assets, American Service Insurance Company and American Country Insurance Company, to ride-sharing insurance provider Buckle has concluded successfully with the necessary regulatory and court approvals. The transaction closed on May 25th with buckle paying $3 ... Read the full article
BGC in $500mn sale of brokerage business to Ardonagh
26th May 2021
BGC Partners has entered into an agreement to sell its Insurance Brokerage business for $500 million to The Ardonagh Group. Ed Broking Group and Besso Insurance, recently grouped together under the brand of Corant Global, comprise of global wholesale and specialty re/insurance broker Ed, Lloyd’s broker Besso, aviation specialist Piiq Risk ... Read the full article
New Zealand extends Aon / WTW merger decision to July
25th May 2021
The New Zealand (NZ) Commerce Commission has failed to reach a decision on whether to approve the merging of Aon and rival Willis Towers Watson (WTW) by its deadline of May 25th, so has extended the date a decision is due by to July 2nd. New Zealand's Commerce Commission had launched ... Read the full article
Aston Lark acquires Veritan Consultants
24th May 2021
Insurance brokerage Aston Lark Ireland has acquired Veritan Consultants Limited which trades under Brady Burns & Associates. Brady Burns specialises in delivering commercial and personal lines insurance solutions to retail and business customers. Together with their team of experienced and dedicated staff Joe, Breda and Eimhin have continued to expand and grow the ... Read the full article
Accelerant acquires Kinnell Holdings
21st May 2021
Underwriting group Accelerant Holdings has announced its acquisition of insurance group Kinnell Holdings and its six subsidiaries. Through the acquisition, Accelerant will acquire Kinnell's subsidiary Guarantee Protection Insurance Limited (GPI). The acquisition will broaden Accelerant's portfolio with the addition of Kinnell's other subsidiary companies, including two insurance intermediaries, a trade association, a ... Read the full article
Howden acquires Medical Professional Risk Solutions
20th May 2021
Howden Broking has acquired Medical Professional Risk Solutions (MPRS), a specialist insurance broker for the primary care sector. The acquisition will expand the Howden's Health & Care division as it continues to invest in specialisms to support clients. MPRS provides accident & health, professional liability, medical malpractice, and commercial combined cover for ... Read the full article
Re/insurance industry execs support sale of Willis Towers Watson assets: KBW
20th May 2021
Florida and Bermuda insurance and reinsurance industry executives recently expressed "widespread support" for the sale of Willis Re and certain other Willis Towers Watson (WTW) assets to Arthur J. Gallagher (Gallagher), according to analysts at KBW. It was announced last week that Gallagher had agreed a $3.57 billion deal to ... Read the full article
Taiwan FTC approves Aon – Willis Towers Watson merger
19th May 2021
Taiwan's Fair Trade Commission has given its approval to Aon's acquisition of and merging with rival Willis Towers Watson (WTW), saying that it does not feel it will restrict competition in the marketplace. Taiwan's Fair Trade Commission (FTC) is the entity responsible for competition policy and regulation and like so many ... Read the full article
R&Q completes acquisition of Electric Insurance Ireland DAC
19th May 2021
Randall & Quilter II Holdings Limited, the wholly owned UK subsidiary of Randall & Quilter Investment Holdings Ltd (R&Q), has now completed its acquisition of Electric Insurance Ireland DAC, a wholly owned captive insurer of Electric Insurance Company. The deal has been finalised following the receipt of regulatory approval from the ... Read the full article
Phoenix in advanced talks to sell European businesses, reports
18th May 2021
Leading life consolidator Phoenix Group is reported to be nearing the sale of its £550 million-rated European businesses to an unconfirmed buyer. Sky News says the deal is currently being finalised and that it could be announced as early as next week. Phoenix, whose market capitalisation stands at roughly £7.35 billion, is ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
