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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.

Allstate said to be considering fixed-annuities business sale

9th November 2018

Allstate Corporation, one of the largest primary insurers in the U.S, is reportedly considering the sale of its fixed-annuities business, which stopped selling new policies about five years ago, according to sources at Bloomberg. People familiar with the matter said the insurer was working with financial advisers to find buyers for ... Read the full article

Monument Re acquires run-off life portfolio from Enstar’s Alpha Insurance

8th November 2018

Bermudian reinsurer Monument Re has announced the acquisition of a run-off portfolio of traditional life and credit life business from Belgian composite insurer Alpha Insurance S.A., a wholly owned subsidiary of Enstar Group Limited. Monument Re said that the portfolio would be transferred to its Belgian carrier, Monument Assurance Belgium NV, ... Read the full article

AIG completes acquisition of Glatfelter Insurance Group

7th November 2018

Global insurer American International Group (AIG) has completed its acquisition of full-service broker and insurance company Glatfelter Insurance Group. The transaction, which was first announced in September 2018, has closed following receipt of regulatory approvals and satisfaction of other closing conditions. AIG said that it plans to utilise Glatfelter’s specialty programs ... Read the full article

MMC acquisition approved by JLT shareholders

7th November 2018

The shareholders of broker Jardine Lloyd Thompson Group plc have overwhelmingly voted in favour of the firms acquisition by broking and advisory giant Marsh & McLennan Companies, Inc. (MMC). Demonstrating just how much support there was for the acquisition deal, of the shares voted, 99.9% voted in favor of the transaction, ... Read the full article

Gallagher acquires UK property broker Vasek Insurance

7th November 2018

Gallagher, the global re/insurance brokerage and risk management services firm, has acquired a controlling interest in Purple Bridge Group Limited, the holding company of UK specialist property insurance provider Vasek Insurance Services Limited. The deal includes Vasek’s appointed representative Insurance My Villa, as well subsidiary brands including Unoccupied Direct, although no ... Read the full article

Sirius completes merger with Easterly, becomes public company

6th November 2018

Sirius International Group, a global multi-line re/insurance group, has completed its previously announced merger agreement with Easterly Acquisition Corp., through which Sirius has become a publicly listed company. As part of the business combination arrangement, a wholly owned subsidiary of Sirius Group merged with and into Easterly, while Easterly became ... Read the full article

Arch Insurance to acquire New York insurer McNeil & Co.

6th November 2018

Arch Capital Group has today announced an agreement to acquire McNeil & Company, a specialised risk management and insurance firm headquartered in Cortland, New York. Post-acquisition, McNeil will operate independently, supporting Arch Insurance’s program division. “McNeil is a great fit for Arch and solidifies a program relationship that dates back to Arch’s ... Read the full article

SOBC DARAG acquires Florida insurer in U.S expansion move

5th November 2018

SOBC DARAG, the newly-formed joint venture between U.S run-off specialist SOBC and European legacy acquirer DARAG, has completed its acquisition of Florida-based Peachtree Casualty Insurance Company. The acquisition, which was first announced in August 2018, marks SOBC DARAG’s first U.S acquisition and represents part of the initial stage of the ... Read the full article

Neuberger Berman acquires Cartesian Re & affiliate reinsurer Iris Re

1st November 2018

Private, independent, employee-owned investment manager, Neuberger Berman, has acquired specialist asset manager Cartesian Re and its affiliated reinsurer, Iris Re, expanding its alternative investment platform. Cartesian Re is the insurance-linked securities (ILS) asset management unit of Cartesian Capital Group, and this, alongside the unit's reinsurance and segregated accounts vehicle, Iris Re, have been ... Read the full article

Arch acquires commercial MGA businesses from Ardonagh for £31m

1st November 2018

Arch Insurance Europe has acquired a series of Ardonagh Group-owned Commercial MGA businesses for a consideration of up to £31 million. The agreement, which is conditional upon performance criteria, will see Arista, Fusion, Towergate Personal Accident and Travel and Towergate Commercial MGA transferred to Arch along with approximately 250 employees from ... Read the full article

TMR deal provides RenRe with access to preferential risk at a valuable time

31st October 2018

Bermudian reinsurer RenaissanceRe (RenRe) expects to access up to $1.4 billion of incremental reinsurance premium following its $1.5 billion acquisition of Tokio Millennium Re (TMR), and has entered into an agreement on the firm's non-Japanese reinsurance placements, which provides it with "preferential access to risk" at a valuable time. The ... Read the full article

Global re/insurance M&A deal value hits $42bn, highest since financial crisis

31st October 2018

A “slew of megadeals" have pushed the deal value of global re/insurance mergers and acquisitions to $42 billion (€37 billion) in the first half of 2018, the highest since the financial crisis, according to a new report from Willis Towers Watson and Mergermarket. Indeed, this past week has seen a succession ... Read the full article

RenaissanceRe acquiring Tokio Millennium Re in $1.5 billion deal

30th October 2018

Bermudian reinsurance company RenaissanceRe has announced that it is to acquire Japanese holding company Tokio Marine’s reinsurance units, which include Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited. RenaissanceRe said it has entered into a definitive agreement with Tokio Marine Holdings, Inc. to acquire the firm's reinsurance platform, which ... Read the full article

Re/insurance broker Ed to be acquired by BGC Partners

29th October 2018

Global insurance and reinsurance brokerage, Ed, is to be acquired by a subsidiary of BGC Partners, Inc., a global broker and financial technology firm, subject to numerous conditions, including regulatory approvals. According to an announcement on the deal, under the terms of the agreement, a BGC subsidiary will acquire 100% of ... Read the full article

AMP in $3.3bn sale to Resolution Life, secures Swiss Re reinsurance backing

25th October 2018

Financial services firm AMP is exiting the life insurance sector with the sale of its AMP Life business to Resolution Life for total cash and non-cash consideration of AU$3.3 billion (US$2.3 billion); the transaction is expected to complete in the second half of 2019. Concurrently, the company has announced a deal ... Read the full article

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