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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.

Brown & Brown completes takeover of Canada MGA Special Risk

10th January 2020

Insurance brokerage firm Brown & Brown, Inc. has completed its acquisition of Canada domiciled managing general agent (MGA), Special Risk Insurance Managers, Ltd. First announced last month, Brown & Brown said that the acquisition is an important step towards its establishment of a presence in the Canadian insurance brokerage sector. Going ... Read the full article

NI holdings completes acquisition of Westminster American Insurance

10th January 2020

Insurance holding company NI Holdings, Inc. has completed its previously announced acquisition of Westminster American Insurance Company from private shareholders for $40 million. NI Holdings believes the acquisition will further diversify its portfolio of products both geographically and line, as additional commercial multi-peril business is introduced into the business mix. Westminster is ... Read the full article

Hub International acquires RHC Insurance Brokers

10th January 2020

Global insurance brokerage Hub International has acquired Canada-based RHC Insurance Brokers. Terms of the transaction were not disclosed. RHC is an independent insurance brokerage spread throughout British Columbia that provides personal and business insurance. Tammy Darough, Chief Executive Officer and Chief Financial Officer of RHC, will assist Hub International Insurance Brokers, a ... Read the full article

AIG, Prudential & Principal reportedly discussed Voya takeover

9th January 2020

The Financial Times has reported that re/insurance giant AIG, life insurer Prudential Financial and asset manager Principal Financial Group were among the companies interested in acquiring U.S. retirement plan provider, Voya Financial. According to people briefed on the matter, says the Financial Times, Voya held discussions with AIG, Prudential, Principal Financial ... Read the full article

Gossmann & Cie. to purchase SOVAG following legacy transfer

9th January 2020

Gossmann & Cie. has announced that it plans to purchase German re/insurer Schwarzmeer- und Ostseeversicherungs-AG (SOVAG) via its holding company Minerva Capital GmbH. The transaction follows the completion of the transfer of SOVAG’s legacy portfolio to DARAG in December 2019. Gossmann & Cie. expects the acquisition to accelerate its portfolio refinement ... Read the full article

Coverys European Holdings announces its first acquisition

9th January 2020

Coverys European Holdings Limited (CEH), a division of Coverys which invests in specialty managing general agencies (MGAs) across continental Europe and the UK, has announced the completion of its first acquisition. For its first acquisition, CEH has purchased a Lloyd's of London Coverholder and Broker, TPA, and MGA business providing liability ... Read the full article

Generali finalises purchase of Apollo units in Portugal

8th January 2020

Italian re/insurer Generali has finalised its acquisition of Seguradoras Unidas and the service company AdvanceCare from Apollo Global Management, Inc. in Portugal. The transaction, first announced in July 2019, sees Generali acquire 100% of Seguradoras Unidas for €510 million and AdvanceCare for €90 million. The companies were bought from Calm Eagle ... Read the full article

Aon completes purchase of SME insurtech platform CoverWallet

8th January 2020

Global re/insurance brokerage Aon has completed its previously announced acquisition of CoverWallet, a digital insurance platform for small and medium-sized businesses. Aon believes the acquisition will expand its position in the commercial insurance market for smaller businesses, and allow it to develop improved digital client solutions. CoverWallet joins the portfolio of ... Read the full article

Hub International acquires Cranbrook Bloomfield

8th January 2020

Global insurance brokerage Hub International has acquired the assets of Cranbrook Bloomfield Insurance Agency (CBIA). Terms of the transaction were not disclosed. Headquartered in Bloomfield Hills, Michigan, CBIA is an independent insurance brokerage that provides personal and commercial insurance, and employee benefits solutions. Agency principals John Williamson and Mark Barrett will join ... Read the full article

Beach targets A&H reinsurance market with acquisition of US broker

7th January 2020

Insurance and reinsurance brokerage, Beach & Associates has announced the acquisition of Atlanta-based Accident & Health (A&H) reinsurance broker, Risk and Insurance Consulting Services (RICS). The acquisition sees RICS, which was established in 1997, become part of Beach Re Ltd. and the entity will operate as its A&H division, under the ... Read the full article

Tysers to integrate RFIB following acquisition

7th January 2020

Tysers, the specialty London-based wholesale broker, has completed its previously announced acquisition of Risk Transfer Group, the parent company of specialist Lloyd’s broker RFIB. Integration plans are now well underway, Tysers said, with the aim of combining RFIB’s operations into the firm in 2020. Tysers previously merged its insurance operations with ... Read the full article

Tokio Marine selling stake in RenRe

7th January 2020

Bermudian reinsurance firm RenaissanceRe (RenRe) has announced that Tokio Marine plans to sell its 3.9% stake in the company, worth about $334 million. The stake will be offloaded via an underwritten public secondary offering of 1,739,071 common shares by Tokio Marine & Nichido Fire Insurance Co., Ltd. These shares formed part of ... Read the full article

Kuvare finalises takeover over Lincoln Benefit Life Company

7th January 2020

Kuvare US Holdings, the life insurance and annuity company, has completed its acquisition of Lincoln Benefit Life Company and its affiliates (LBL). First announced in July 2019, the acquisition brings Kuvare’s pro forma consolidated assets to over $22 billion. Formerly owned by RL LP, LBL is the third operating US life ... Read the full article

Gallagher takes stake in specialist Malaysian broker SP&G

6th January 2020

Re/insurance broker Gallagher has expanded its presence in Asia with the acquisition of a minority stake in specialist Malaysian broker SP&G Insurance Brokers. SP&G is a multi-discipline commercial insurance broker that specialises in coverages for the aviation market, as well as in solutions for property & casualty, marine, engineering, and other ... Read the full article

Optio acquires political violence & terrorism MGA from Castel

3rd January 2020

Optio, the managing general agency (MGA) comprising Ascent Underwriting, Cove Programs and Bay Risk Services, has acquired specialist political violence and terrorism MGA Newbridge Risk Partners. Newbridge was launched in 2015 on the Castel MGA formation platform, writing a book of political violence and terrorism risks in emerging markets regions. With capacity ... Read the full article

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