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Mergers & acquisitions news

Reinsurance mergers and acquisitions news, covering details of M&A transactions in the works and completed, between insurance, reinsurance and related companies.

Beazley takes 30% stake in Hong Kong coverholder Pegasus

23rd October 2019

Specialist insurer Beazley has announced a strategic investment in Pegasus Underwriting Limited, a Hong Kong-based Lloyd’s coverholder. The investment will see Beazley become a 30% shareholder in Pegasus, which it has been working with since January 2019. The collaboration has combined Pegasus’ broking relationships and market knowledge with Beazley’s global expertise in ... Read the full article

Davies Group acquires workers’ comp claims administrator

18th October 2019

Operations management, consulting and digital solutions provider Davies Group has announced the acquisition of Alternative Service Concepts, a workers’ compensation and property casualty third party administrator. ASC is set to join Davies’ newly formed North American Claims Solutions business, alongside its recently-acquired independent adjusting business, Frontier. ASC will form a new ... Read the full article

Nassau agrees to acquire Foresters life insurance & annuity firm

18th October 2019

Hartford, U.S. domiciled insurer and reinsurer, Nassau Financial Group, L.P. has announced that its subsidiary, Nassau Life Insurance Company (NNY), is to acquire Foresters Financial Holding Company, Inc. and Foresters Life Insurance and Annuity Company (FLIAC) from The Independent Order of Foresters (Foresters). Both NNY and FLIAC are New York-based life ... Read the full article

IAG announces sale of its interest in SBI General Insurance

18th October 2019

Insurance Australia Group Limited (IAG) has announced an agreement to sell the entirety of its 26% interest in its joint venture with the State Bank of India, SBI General Insurance Company, through two transactions. The transaction includes an agreement with Napean Opportunities LLP, which is part of Premji Invest, to acquire ... Read the full article

RSG wraps up acquisition of hotel-focused program manager

17th October 2019

Ryan Specialty Group, an international specialty insurance organisation, has completed its previously-announced acquisition of Suitelife, a program manager based in West Chester, PA that specialises in hotels. Founded in 2010, Suitelife offers package, liability, property, umbrella, auto and workers’ compensation coverages to hotels, resort properties and private resort communities. Its program management ... Read the full article

DARAG Guernsey purchases Thames Water captive

17th October 2019

DARAG Guernsey, part of run-off specialist DARAG, is set to acquire captive re/insurer Thames Water Insurance Company Limited (TWICL) from its parent Kemble Water Finance. The captive will be renamed DARAG Insurance (Guernsey) Limited and serve as a consolidator for certain future DARAG non EEA legacy deals, including captive acquisitions and ... Read the full article

AXA looking at potential sale of Central European business, says Reuters

16th October 2019

Reuters has reported that a number of sources have claimed that French insurance giant AXA is considering the sale of its Central European business as part of a restructuring to exit markets where the firm does not have sufficient scale. Reportedly, information packs regarding the sale have been sent to potential ... Read the full article

EPIC Insurance Brokers welcomes Prime Risk to platform

16th October 2019

EPIC Insurance Brokers and Consultants, a retail property and casualty broker and employee benefits consultant, is set to welcome Prime Risk Partners to its national insurance platform. Prime Risk is headquartered in Atlanta and manages a range of risks across the US. The firm will initially operate as Prime Risk Partners – ... Read the full article

Arthur J. Gallagher & Co. acquires Swedish broker Proinova

14th October 2019

Global insurance brokerage Arthur J. Gallagher & Co. has announced the acquisition of Proinova, an insurance broker based in Helsingborg, Sweden. Founded in 1989, Proinova specialises in group solutions for the real estate sector, offering insurance, loss prevention training and claims advocacy services for trade association members. It also serves clients in ... Read the full article

Berkshire’s MedPro gets renewal rights for Swiss Re CorSo health book

14th October 2019

MedPro Group, Berkshire Hathaway's U.S. healthcare liability insurer, has entered into a definitive agreement to acquire the renewal rights of Swiss Re Corporate Solutions' Healthcare Professional Liability book, effective October 11th, 2019. According to an announcement on the deal, the agreement includes Hospital and Senior Care accounts underwritten by Swiss Re ... Read the full article

IGI announces public listing via $400mn Tiberius deal

11th October 2019

International General Insurance Holdings (IGI), the specialist commercial re/insurer, has entered into a business combination agreement with special purpose acquisition firm Tiberius Acquisition Corp., which will result in the public listing of IGI. The agreement prices IGI at approximately 1.26x its book value of $316 million (as of June 30, 2019), ... Read the full article

Gallagher acquires Kentucky-based insurer Garrett-Stotz

11th October 2019

US global insurance brokerage and risk management services firm Arthur J. Gallagher & Co. has announced the purchase of Garrett-Stotz Company, a Kentucky-based insurance agency. Garrett-Stotz was founded in 1931 and is a full-service commercial and personal lines property/casualty and benefits agency. The firm's areas of specialisation include construction/surety, real estate and ... Read the full article

CFC targets improved incident response capabilities with acquisition

9th October 2019

London headquartered specialist insurer, CFC, has expanded its in-house cyber incident response capabilities with the acquisition of Texas-domiciled incident response provider, Solis Security. CFC's large in-house cyber claims and incident response team has handled almost 1,500 cyber claims this year alone. Now, with the addition of Solis Security, CFC has deepened ... Read the full article

R&Q finalises takeover of Sandell Holdings & reinsurance subsidiary

8th October 2019

Randall & Quilter II Holdings Limited, a subsidiary of Randall & Quilter Investment Holdings Ltd. (R&Q), has completed its acquisition of Sandell Holdings Limited along with its reinsurance subsidiary, Sandell Re Ltd. R&Q previously announced back in July 2019 that it planned to purchase the entire issued share capital of ... Read the full article

Sagicor Life acquires portfolios from CLICO & British American Trinidad

8th October 2019

Sagicor Life, a subsidiary of Caribbean financial services provider Sagicor, has announced the acquisition of traditional insurance portfolios from Colonial Life Insurance Company (Trinidad) Limited (CLICO) and British American Insurance Company Trinidad Limited (BAT). The insurance policies assumed will consist of a combination of ordinary long-term life insurance policies, including universal ... Read the full article

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