Reinsurance News
Reinsurance mergers and acquisitions news, covering details of M&A transactions in the works and completed, between insurance, reinsurance and related companies.
30th July 2021
Global insurance and reinsurance broker Aon could have completed its now terminated $30 billion combination with Willis Towers Watson (WTW), but the two options proposed to close the deal would have been damaging for the firm, according to its Chief Executive Officer (CEO), Greg Case. Aon released its second-quarter 2021 ... Read the full article
30th July 2021
Gallagher’s Chairman, President and Chief Executive Officer J. Patrick Gallagher, Jr. has underlined the broker’s commitment to mergers and acquisitions as a “proven strategic growth engine,” despite the breakdown of its deal with Aon to acquire chunks of rival Willis Towers Watson. His comments came alongside Gallagher’s quarterly results statement, ... Read the full article
29th July 2021
International insurance broker Howden has launched a new business in Italy following the acquisition of broker Andrea Scagliarini SpA (Scagliarini). Establishing operations in Italy is seen as vital to enabling the firm to expand in Europe, enabling them to deliver service to both local and multinational clients. The launch of Howden Italy ... Read the full article
28th July 2021
Global re/insurance broker Aon has established a new executive committee intended to help facilitate it in accomplishing the objectives laid out across its four-pronged United blueprint. The motivations driving Aon's United Blueprint include creating new sources of value for clients, delivering more effective client service, driving innovation at scale and ensuring ... Read the full article
28th July 2021
Re/insurance broker Arthur J Gallagher could still seek an acquisition of all or parts of rival Willis Towers Watson after its deal with Aon fell through this week, according to Bloomberg Intelligence (BI). Gallagher had a $3.6 billion pact to buy several Willis businesses which was dependant on the Aon ... Read the full article
28th July 2021
Reinsurance and investment management firm FG Financial Group has announced the completion of FG New America Acquisition (FGNA) Corp's previously announced business combination with OppFi. The combination was approved by FGNA’s stockholders and sees the company now operating as OppFi, Inc. OppFi’s Class A common stock and warrants began trading on the ... Read the full article
28th July 2021
Hong Kong headquartered reinsurer, Peak Reinsurance Company Limited (Peak Re), has agreed to acquire the remaining 50% issued share capital of NAGICO Holdings Limited, a leading Caribbean insurance group. Peak Re acquired a 50% stake in the company back in 2016 and this latest transaction is a natural next step, says ... Read the full article
27th July 2021
Attorney General Merrick B. Garland has hailed the breakdown of the proposed combination of Aon and Willis Towers Watson (WTW) as a "victory for competition and for American businesses", as Aon CEO Greg Case notes poor timing and factors outside of their control. After filing a civil antitrust lawsuit to block ... Read the full article
27th July 2021
Independent insurance distribution firm BRP Group’s subsidiary Millennial Specialty Insurance is to acquire a New York-based tech-enabled insurance distribution platform focused on providing commercial insurance services for clients in various high growth industries. The platform consists of FounderShield, AlphaRoot, ReShield and Scale Underwriting Services; collectively, Founder Shield. With annual revenue of approximately ... Read the full article
27th July 2021
Arthur J. Gallagher & Co. has confirmed that its agreement to acquire certain assets of Willis Towers Watson (WTW) has been terminated owing to the collapse of the $30 billion combination of Aon and WTW. As Aon and WTW attempted to get their proposed merger over the line amid an array ... Read the full article
27th July 2021
It appears global re/insurance broker, Willis Towers Watson (WTW), has decided to return its Aon merger termination fee to shareholders, increasing its share repurchase program by $1 billion. After news broke yesterday that Aon and WTW decided to scrap their $30 billion mega-merger plans, Aon said that it would be ... Read the full article
26th July 2021
As news broke today that Aon's proposed combination with rival re/insurance brokerage Willis Towers Watson (WTW) has been terminated, analysts at Keefe, Bruyette & Woods (KBW) see greater headwinds for WTW moving forwards. The proposed $30 billion mega-merger of two of the world's largest brokers fell apart today as the ... Read the full article
26th July 2021
Re/insurance broking giants Aon and Willis Towers Watson have terminated their much publicised mega-merger, 16 months after the deal was officially announced to the world. The decision appears to have been driven by what Aon Chief Executive Officer Greg Case describes as "an impasse with the US Department of Justice." Despite quickly ... Read the full article
26th July 2021
Global Risk Partners (GRP) has entered into an agreement with Willis Towers Watson (WTW) to acquire the latter's commercial risk and broking business in Northern Ireland. On completion, the £57 million gross written premium (GWP) portfolio will be integrated into ABL Group, GRP’s Northern Ireland brokerage, with ABL’s CEO Maurice Boyd ... Read the full article
23rd July 2021
Aston Lark Ireland has announced plans to further strengthen its personal lines insurance capabilities with the acquisition of Principal Insurance Ireland DAC. Based in Dublin, Principal Insurance was established in 2015 and is a leading player in the Irish motorcycle insurance market, with a 30%+ market share. Its 18-strong team, led by ... Read the full article
