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Mergers & acquisitions news

Markel completes its acquisition of State National

20th November 2017

Financial services, specialty insurance and reinsurance group, Markel Corporation has completed its $919 million acquisition of fronting, program and lender service insurance specialist, State National Companies, Inc. Markel announced its agreement to acquire State National on July 26th 2017, so the transaction has been completed in a relatively short amount ... Read the full article

Compre to acquire assumed non-life reinsurance portfolio from Allianz Versicherungs

16th November 2017

Compre, the insurance and reinsurance legacy specialist, has announced its seventh acquisition of the year, agreeing to purchase a portfolio of assumed non-life reinsurance business from Allianz Versicherungs. Originally, the business was underwritten by Vereinte Versicherung AG and its legal predecessors, and has been discontinued since the late 1990s. The transaction fee ... Read the full article

Till Capital looking for buyer for Canadian subsidiary Omega Insurance

14th November 2017

Bermuda-domiciled Till Capital Ltd., which operates through wholly owned subsidiaries Omega Insurance Holdings Inc. and Resource Re Ltd., is looking to sell of the former and is seeking a buyer for Canadian subsidiary Omega. The company, which follows an investment-oriented reinsurance approach having been launched by investor Bill Lupien with the ... Read the full article

Reinsurers’ M&A strategies could be hit by recent capital loss events

10th November 2017

As reinsurers cope with significant third-quarter catastrophe-related losses, research analysts speaking at the 2017 Bermuda Reinsurance Conference said they believed that although the hit to reinsurer balance-sheets would be less severe than in previous high-loss years, it would impact firms' M&A strategies. "It seems like, if you look at the hits ... Read the full article

Preservation Capital acquires stake in cyber MGA Ascent

9th November 2017

Cyber and specialty lines Managing General Agent, Ascent Underwriting, has agreed that Preservation Capital Partners will take a substantial stake in the business subject to regulatory approval, providing significant capital to support Ascent’s growth ambitions. The Ascent managing team will retain a significant shareholding in Ascent and will continue to manage the ... Read the full article

Post-catastrophe rate hikes could make reinsurance M&A more attractive

3rd November 2017

Reinsurance merger and acquisitions (M&A) activity has been in the doldrums somewhat in recent quarters, as the continued pressure on reinsurers has made them less attractive over time. With tepid demand growth, pressure from high levels of excess traditional reinsurance capital, as well as growing competition from alternative capital providers, coupled ... Read the full article

Aon Netherlands completes acquisition of UMG from Aegon

1st November 2017

Aon Groep Nederland, the Netherlands subsidiary of global insurance and reinsurance broker Aon, has completed the acquisition of Unirobe Meeus Group (UMG) from Aegon, for €295 million (US$343 million). The transaction includes the whole of UMG and strengthens Aon's position in the Netherlands marketplace, improving its presence in the SME and ... Read the full article

AXIS completes Novae acquisition

18th October 2017

Bermudian insurer and reinsurer, AXIS Capital Holdings Limited, has announced the completion of its acquisition of Novae Group, after receiving all necessary regulatory approval. The deal was initially announced in July, 2017, and after AXIS increased its offer by 2% in August, the firm then completed phase one ... Read the full article

Guidewire Software to acquire P&C insurance software provider Cyence

12th October 2017

Software provider to Property and Casualty (P&C) insurers, Guidewire Software, has entered into an agreement to acquire Cyence, a software provider that uses data science and risk analytics to expand P&C insurers' underwriting capabilities to include previously uninsured risks. Cyence offers a data listening and risk analytics solution that combines curation ... Read the full article

Swiss Re takes £800m MS&AD investment into ReAssure, its closed life consolidator

6th October 2017

Global reinsurance giant Swiss Re is set to take an £800 million investment from Japanese insurance holding company MS&AD Insurance Group Holdings Inc (MS&AD) into ReAssure, its UK closed life book consolidator. MS&AD will purchase a 5% stake in ReAssure for £175 million, through an investment in ReAssure Jersey One Limited, ... Read the full article

European re/insurance sector M&A activity to diminish: A.M. Best

4th October 2017

Global ratings agency, A.M. Best, expects to see less consolidation in the European insurance and reinsurance sector in the coming months as opportunities decline alongside appetite. In recent times, merger and acquisition (M&A) activity has been fairly strong and consistent across the European insurance and reinsurance sector, as companies look to ... Read the full article

AXIS acquires shares of Novae as deal nears completion

2nd October 2017

AXIS Capital Holdings Limited has now acquired the shares of Novae Group for 715 pence per share, and expects to secure management of the company no later than October 18th, 2017. AXIS announced in early July that it would acquire Novae Group, before increasing its offer by 2% in ... Read the full article

AXIS’ takeover of Novae expected to be completed by October 18th, 2017

26th September 2017

AXIS Capital Holdings Limited will complete its previously announced acquisition of Novae group in two phases, the deal is expected to be finalised no later than October 18th, 2017. AXIS Capital announced in July this year that it would acquire Novae for $604 million, before increasing the offer in Read the full article

Reinsurers offset sluggish market with M&As: Fitch

8th September 2017

Reinsurers continue to turn to M&As for the opportunity to diversify with some entities choosing to acquire service businesses outside of reinsurance, driven by low returns on reinsurance capital, according to Fitch’s 2017 mid-year financial results report. The main strategy for offsetting sluggish market growth has continued to be M&As this ... Read the full article

Allianz expands African footprint with Ensure Insurance acquisition

4th September 2017

Global insurer Allianz has announced a new binding agreement to acquire 98% of Nigerian domiciled insurance firm, Ensure Insurance Plc., from its main shareholder, Greenoaks Global Holdings Ltd. Ensure Insurance provides life and non-life insurance services and during 2016 produced gross written premiums (GWP) of €11 million ($13.1mn). Nigeria has the largest ... Read the full article

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