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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.

Aston Lark acquires specialist intermediary PHM

4th August 2020

Chartered insurance broker, Aston Lark, has announced the acquisition of Private Healthcare Managers (PHM) Limited. The company says this new move will boost the broker's employer benefits offering. PHM looks after SME and corporate clients with around £4 million in gross written premium (GWP) per annum across its portfolio. The service is ... Read the full article

TigerRisk wraps up strategic investment from Flexpoint Ford

3rd August 2020

Insurance and reinsurance brokerage TigerRisk Partners has finalised its investment from Flexpoint Ford, a private equity firm specialising in the financial services and healthcare industries. Flexpoint Ford has completed numerous investments in the insurance industry across P&C carriers, insurance distribution, and claims adjusting since its inception in 2005. This deal with TigerRisk was ... Read the full article

Aon sees Willis Re as complementary, divestiture unnecessary: Execs

31st July 2020

Aon's senior leadership, including CEO Greg Case, explained today during a quarterly earnings call that the company isn't expecting to need to divest significantly, as it combines with Willis Towers Watson (WTW) when the acquisition is realised. Case, the Chief Executive Officer of insurance and reinsurance broker powerhouse Aon, said before ... Read the full article

Hastings Group confirms acquisition approach

31st July 2020

Hastings Group has been approached by Finnish insurer Sampo Oyj and South Africa’s Rand Merchant Investment Holdings Limited over a potential acquisition of the UK motor insurer. RMI currently holds a 30% stake in the company. Hastings has established an independent committee comprising the full Board of Hastings excluding Herman Bosman, the ... Read the full article

Genworth posts $441m Q2 loss, gives update on China Oceanwide merger

30th July 2020

Mortgage insurer Genworth Financial has reported a net loss of $441 million in the second quarter of 2020, compared with net income of $168 million the the prior year quarter. The company recently reached a settlement agreement with AXA regarding a dispute over payment protection insurance claims underwritten by the company's ... Read the full article

Investors Senator & Cannae move to oust CoreLogic board

29th July 2020

Senator Investment Group LP and Cannae Holdings Inc. have initiated a process to call a special meeting of shareholders with the aim of removing and replacing a majority of the board members of property information and analytics provider CoreLogic. The move comes after CoreLogic’s board unanimously rejected an offer from ... Read the full article

Davies acquires Citadel Risk’s captive management operations

29th July 2020

Leading specialist professional services and technology firm, Davies, has announced a deal to acquire the captive management & consulting businesses of insurance and reinsurance specialist, Citadel Risk. Citadel Management & Cedar Consulting will become part of Davies’ Insurance Services practice under the new deal, which is led by CEO Steven Crabb. ... Read the full article

Majesco agrees to be acquired by Thoma Bravo

29th July 2020

Majesco shareholders are set to receive $13.10 in cash per share as the company will be acquired by Thoma Bravo. Majesco, a global leader of cloud insurance software solutions for insurance business transformation, has signed a definitive agreement to be acquired by Thoma Bravo, L.P., one of the worlds leading private ... Read the full article

Swiss Re completes sale of ReAssure to Phoenix Group

23rd July 2020

Global reinsurance giant Swiss Re has announced the completion of the sale of its ReAssure Group plc subsidiary to Phoenix Group Holdings plc, following the receipt of all regulatory and antitrust approvals. As previously announced, Swiss Re received a cash payment of £1.2 billion and shares in Phoenix representing a ... Read the full article

Aquiline closes investment in Dutch broker Quintes

21st July 2020

Private investment firm Aquiline Capital Partners has closed its investment in Quintes Holding, one of the largest independent insurance brokers in the Netherlands. No financial terms were disclosed. The broker will maintain its corporate headquarters in Culemborg under the continued leadership of the existing management, including CEO Gijsbert van de Nieuwegiessen and ... Read the full article

Global Risk Solutions acquires major & complex loss expertise in WKA

20th July 2020

Global Risk Solutions, Inc. (GRS), a provider of claims adjusting and environmental risk management solutions, has announced the acquisition of Avon, Connecticut-based firm William Kramer & Associates (WKA). WKA has offices across the U.S. and specialises in large and complex claims as well as litigation management. The company's adjusters have extensive ... Read the full article

Jackson National Life secures $500mn Athene investment

20th July 2020

Jackson National Life Insurance Company has received a $500 million equity investment from Athene Holding. The deal sees Athene receive a 9.9% voting interest corresponding to a 11.1% economic interest in Jackson. “Athene’s investment in Jackson further strengthens our capital position, as we deliver on our long-term strategic objectives,” said Michael Falcon, ... Read the full article

Amynta acquires surety operations from Aspen

17th July 2020

Amynta Group, a provider of property & casualty and warranty protection products and services, has acquired the surety operations of Aspen Insurance, the Insurance Segment of Aspen Insurance Holdings Limited. Following the acquisition, the business will operate as Amynta Surety Solutions. As part of the transaction, Amynta has entered into a strategic ... Read the full article

Insurtech firm Insurity acquires Virtual MGA

15th July 2020

Insurity, Inc., a provider of cloud-based core system solutions and data analytics for the re/insurance market, has acquired Austin, Texas-based Virtual MGA. The deal follows the recent acquisition of Epic-Premier and further expands Insurity’s cloud-based core systems offerings for the MGA and broker markets. Virtual MGA offers a cloud-based binding authority underwriting ... Read the full article

CoreLogic acquisition stance unchanged after Senator & Cannae meeting

15th July 2020

Property information and analytics provider CoreLogic has held firm on its rejection of an acquisition offer from Senator Investment Group LP and Cannae Holdings Inc. after meeting with the two investors. CoreLogic announced last week that its Board had unanimously rejected an offer to acquire all outstanding common shares for $65.00 ... Read the full article

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