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Mergers & acquisitions news

AXA’s legacy arm acquires majority stake in Emirates Re

17th July 2018

Specialist run-off acquirer and manager AXA Liabilities Managers has signed its 19th acquisition on the external market with the purchase of a majority stake in Dubai-headquartered Emirates Re. “We are delighted to pursue our external development with the acquisition of Emirates Re,” said Sylvain Villeroy de Galhau, Chief Executive Officer (CEO), ... Read the full article

Brown & Brown acquires P&C insurer Coffman-Standridge Inc.

16th July 2018

Brown & Brown has announced that its subsidiary, Brown & Brown Arkansas, has acquired substantially all of the assets of Coffman-Standridge Incorporated (CSI Insurance) from the company’s sole shareholder, Mark A. Coffman. Founded in 2010, CSI Insurance provides property and casualty (P&C) insurance products and services to customers throughout Arkansas, with ... Read the full article

M&A deal activity to increase despite rising costs: Moody’s

13th July 2018

The re/insurance industry is likely to see an increase in mergers and acquisitions (M&A) deals in the future, even as transactions become more expensive due to high expectations from sellers, according to Moody’s Investors Service. In recent years, Moody’s observed that there has been a trend of large, globally diversified firms ... Read the full article

Price Forbes & Bishopsgate launch combined specialist energy group

11th July 2018

Price Forbes & Partners Ltd and Bishopsgate Insurance Brokers Ltd, two firms within the Ardonagh Group, have announced that they have merged their energy businesses into a combined specialist energy group. The newly consolidated group will be led by Gordon Newman, Chairman of Bishopsgate, who will coordinate production activity across both ... Read the full article

AXA and XL Group reveal branding for combined operations

11th July 2018

AXA and XL Group have revealed the branding and structure of their future combined operations, to be known as AXA XL, following AXA’s acquisition of XL Group for $15.3 billion in March 2018. Once the acquisition is completed, the new AXA XL division will operate under the master brand of ... Read the full article

Global re/insurance M&A set to be second most active year ever: Willis Re

11th July 2018

Willis Re's latest 1st View renewals report suggests that 2018 could be the most active year for M&A across the global insurance sector since 2015 - when volume was $121 billion, boosted by the ACE-Chubb merger - with YTD deal volume running at $44 billion. Transactions such as AXA’s $15 billion purchase ... Read the full article

Tokio Marine Kiln completes WNC Holdings acquisition

11th July 2018

Tokio Marine Kiln has acquired the remaining 51% stake in California-based WNC Holdings, having previously bought 49% of the company in June 2011. WNC is expected to retain its existing brand. WNC is an MGA that provides specialty risk management solutions to U.S. clients and expects $200 million of net written premium ... Read the full article

Endeavour names Howden’s Karen Allen as CEO designate following SSL merger

10th July 2018

Lloyd’s broker and delegated authority specialist Endeavour Insurance Services has named Karen Allen as Chief Executive Officer (CEO) designate, who will join the business in October, 2018, following Endeavour’s recently announced merger deal with SSL Insurance Group. Allen will also take up the position of Group Managing Director, and will ... Read the full article

Liberty Specialty continues European expansion with Ironshore move

10th July 2018

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance (LMI), is to take on Ironshore’s European non-M&A business and staff as the firm continues its expansion efforts on the continent. LMI had previously acquired the global specialty insurer in 2017 for a reported $2.935 billion. The move will see Ironshore’s locally ... Read the full article

AXA Liabilities Managers acquires Gothaer Re run-off portfolio

10th July 2018

AXA Liabilities Managers has acquired the reinsurance portfolio of Gothaer Group, which has been in run-off since Gothaer Re ceased trading in 2004. The deal was confirmed following approval by the German Federal Financial Supervisory Authority on June 26, with Guy Carpenter having supported Gothaer at all stages in the transaction process. Guy ... Read the full article

Monument Re acquires Dutch closed life insurer, Robein Leven

9th July 2018

Reinsurer Monument Re has announced the acquisition of Robein Leven N.V. and its subsidiaries from Amerborgh Financial Services B.V. The Bermuda domiciled reinsurance company's acquisition of the Netherlands-based closed life insurer, Robein Leven, will follow satisfaction of customary closing conditions, which includes the receipt of regulatory approvals. Chief Executive Officer (CEO) of Monument ... Read the full article

Generali sells German life insurance unit to Viridium Group

5th July 2018

Italian insurance giant Generali Group has announced the sale of its German life insurance unit Generali Leben to consolidation platform Viridium Group in a deal valued at up to €1 billion, with total estimated cash-in up to approximately €1.9 billion. The announcement follows reports last year of Generali looking to offload ... Read the full article

AFL acquires majority stake in UK employer protection MGA

3rd July 2018

AFL Insurance Brokers Ltd, the independent Lloyd’s broker, has acquired a controlling stake in specialist employer protection Managing General Agency (MGA) Concordia Employment Services Limited, for an undisclosed sum. Based in London, Concordia has been supporting UK employers by managing risks and exposures related to workplace disputes since its launch in ... Read the full article

Zurich completes Oak Underwriting takeover

3rd July 2018

Global insurer Zurich has completed the acquisition of Oak Underwriting from RSA Insurance, enhancing the company's high net-worth proposition, known as Zurich Private Clients. The insurer's purchase of Oak Underwriting, a high net-worth specialist insurer, makes Zurich one of the largest high net-worth insurers in the UK, and provides it with ... Read the full article

Allianz says major M&A deals are not on the horizon

29th June 2018

Insurance giant Allianz has denied that it has ambitions to complete a major merger or acquisition (M&A) deal, saying that no deals are on the horizon. Allianz also said at a day for investors and analysts held this week that they are not in discussion with any of the companies Read the full article

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