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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.

Accelerant acquires CICA from re/insurer Brit

8th March 2021

Accelerant Holdings has announced the acquisition of Commonwealth Insurance Company of America (CICA) from speciality insurer and reinsurer Brit, as well as plans to rename the business as Accelerant National Insurance Company (ANIC). The Accelerant companies form an underwriting group specialising in serving a carefully selected and managed network of members ... Read the full article

SRG to acquire CLS Risk Solutions

8th March 2021

Insurance brokerage Specialist Risk Group (SRG) has entered an agreement to acquire CLS Risk Solutions (CLS RS). CLS RS creates and provides risk solutions for real estate development projects and transactions. With a GWP in excess of £30 million in 2020, CLS RS specialises in renewables, M&A, property development and environmental ... Read the full article

Apollo and Athene announce all-stock merger

8th March 2021

Apollo, the global investment manager and Athene, a retirement services company, have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of roughly $11 billion for Athene. The merger is expected to be substantially accretive and bolster the earnings power of the combined ... Read the full article

Aston Lark acquires Magenta Insurance

8th March 2021

Goldman Sachs backed insurance broker Aston Lark has acquired inet3 Limited, which trades as Magenta Insurance. Magenta Insurance is a Chartered Managing General Agent based in East Anglia providing specialist insurance solutions for non-standard residential property to brokers and IFAs throughout the UK. Peter Blanc, Aston Lark Group CEO, said: “We’ve been ... Read the full article

DARAG acquires Bermuda-based SunPoint Holdings

8th March 2021

Legacy acquirer DARAG has announced the acquisition of SunPoint Holdings, a Bermuda-based company intended to act as a platform for further expansion. SunPoint offered reinsurance and run-off solutions to US and Bermuda insurers from 2017 to 2019. The portfolio consisted of General Liability, Construction Defect, New York Labor Law, and Workers’ Compensation ... Read the full article

Munich Re to acquire third party administrator GroupHEALTH

8th March 2021

Munich Re, via its subsidiary Munich Re New Ventures (MRNV), has announced plans to acquire Group Health Group Holdings, Inc. (GroupHEALTH), one of the largest third party group insurance administrators in Canada. MRNV will increase its stake in GroupHEALTH from its existing 40% interest to owning 100% of the company. Following the ... Read the full article

KKR to buy majority stake in Integrated Specialty Coverages

8th March 2021

Multi-line insurance distributor Integrated Specialty Coverages (ISC) is set to be acquired by global investment firm KKR, following Sightway Capital’s decision to sell its majority position in the company. Sightway Capital, a Two Sigma private equity business, will continue holding a stake in the company as a minority shareholder. Financial terms ... Read the full article

Amwins bolsters US presence with Worldwide Facilities takeover

5th March 2021

Amwins Group, Inc., the global distributor of specialty insurance solutions and services, has entered into a definitive agreement to acquire the fourth-largest U.S. wholesale brokerage, Worldwide Facilities. Scheduled to close in April of this year, the acquisition stands to bolster Amwins' presence in the U.S. and reinforce its position as a ... Read the full article

Aston Lark to acquire Venture Insurance Brokers

5th March 2021

Chartered insurance broker Aston Lark has announced the acquisition of Bristol-based Venture Insurance Brokers. Venture Insurance offers traditional insurance advice to both businesses and individuals and advises on business risks across every sector. The business has specialist expertise in Professional Indemnity insurance, property management, haulage, small business solutions and also risk management. “From ... Read the full article

Scott Egan to remain as RSA UK&I CEO following Intact acquisition

5th March 2021

RSA UK & International, a division of RSA Insurance Group plc, will continue to be led by Scott Egan as Chief Executive Officer (CEO) following the completion of the insurer's proposed acquisition by Intact Financial Corporation and Scandinavian insurer Tryg. After finalising a $3.2 billion capital raise ahead of its ... Read the full article

Crum & Forster receives Monitor Life acquisition approval

5th March 2021

Crum & Forster Accident & Health has received regulatory approval on its acquisition of Monitor Life which started at the end of last year. The acquisition of Monitor Life, previously a wholly owned subsidiary of AmFirst Insurance Company, has authority to operate in 27 states and the District of Columbia. C&F is ... Read the full article

CoreLogic asks CoStar to further increase takeover bid

4th March 2021

Property information and analytics provider CoreLogic has written to CoStar asking the company to increase the value of its acquisition offer even further, after confirming earlier this week that CoStar had upped its bid. CoStar has offered to pay CoreLogic shareholders $6.00 per share in cash, in addition to its ... Read the full article

Hippo to go public following Reinvent merger

4th March 2021

California-headquartered, homeowners focused-insurtech Hippo is set to go public following a merger with Reinvent Technology Partners, a special purpose acquisition company. The transaction is expected to close in mid-2021 and will see the new company have approximately $1.2 billion in cash at closing, including up to approximately $230 million of cash ... Read the full article

Allianz to acquire the Italian P/C entity of Aviva

4th March 2021

Global insurer Allianz is set to acquire Aviva Italia S.p.A., the Italian P/C entity of Aviva Group, for €330 million. Aviva expects to use the increased capital and cash to support its previously announced capital framework of debt reduction, investment for long-term growth and return of excess capital to shareholders. The portfolio ... Read the full article

Aon / WTW combination subject to EU antitrust warning, says Reuters

3rd March 2021

Insurance and reinsurance broker Aon's proposed $30 billion merger with Willis Towers Watson (WTW) is to be subject to an EU antitrust warning unless the company offers concessions, according to Reuters. After confirming in December 2020 that it would conduct an in-depth investigation of the transaction, noting concerns it could ... Read the full article

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