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Mergers & acquisitions

Enstar to sell Pavonia Life to Global Bankers Insurance Group for $120m

20th February 2017

Bermuda based insurance, reinsurance and run-off specialist Enstar Group has announced a $120m agreement to sell its Pavonia Holdings (US), Inc. subsidiary to an affiliate of Global Bankers Insurance Group for $120 million. Enstar originally acquired the Pavonia business, which includes Pavonia Life Insurance Company of Michigan, Pavonia Life Insurance Company of ... Read the full article

Aon to sell Benefits Admin & HR BPO platform to Blackstone

10th February 2017

Global insurance and reinsurance broker Aon has agreed to sell the Benefits Administration & HR Business Process Outsourcing (BPO) platform of its Aon Hewitt division to Blackstone, for up to $4.8 billion. The broker announced that it's signed a definitive agreement to sell the business units to investment giant Blackstone for ... Read the full article

Fairfax Financial heads to New Zealand with $197m Tower acquisition

9th February 2017

Prem Watsa's Fairfax Financial, which owns Brit Insurance and is in the process of acquiring re/insurer Allied World, is entering the New Zealand insurance market with the acquisition of Tower Insurance. Announced today, Fairfax Financial has made an all cash offer at $1.77 per share, so valuing the insurer at ... Read the full article

ACR completes acquisition of ACR Malaysia and ACR ReTakaful

2nd February 2017

Reinsurer ACR Capital Holdings today announced the completion of its acquisition of Asia Capital Reinsurance Malaysia and ACR ReTakaful Holdings. The acquisition will see ACR Malaysia and ACR ReTakaful, including operating entities ACR ReTakaful Berhad in Kuala Lumpur and ACR Re Takaful MEA B.S.C. in Bahrain, operate as wholly owned subsidiaries ... Read the full article

Munich Re seeking primary insurance acquisitions: Reports

2nd February 2017

Munich Re has said it’s interested in buying insurance companies with specialisations if prices drop, according to an interview with the firm's Chief Financial Officer (CFO) Joerg Schneider on Handelsblatt daily. The reinsurer’s CFO told Handelsblatt the company is; "open to large acquisitions but the prices simply haven’t been right in ... Read the full article

European re/insurers advised to focus on M&A consolidation: A.M. Best

31st January 2017

A.M. Best has named M&A activity as the main factor affecting Western European insurers and reinsurers credit ratings last year, and while this trend is expected to continue throughout 2017, the rating agency has recommended firms focus on consolidating gains. Despite tough market conditions of low investment yields and an increasingly ... Read the full article

OMERS to contribute $1 billion to Fairfax’s Allied World acquisition

27th January 2017

It's been confirmed that OMERS, Ontario’s municipal employees’ pension plan has agreed to contribute $1 billion to the acquisition of Allied World alongside Fairfax Financial. The contribution will see OMERS indirectly acquire approximately 21% of insurer and reinsurer Allied World's shares. Fairfax had announced mid-December it would purchase Allied World for $4.9 billion ... Read the full article

Endurance shareholders vote in favour of acquisition by Sompo

27th January 2017

Bermudian insurance and reinsurance group Endurance Specialty Holdings Ltd. said today that its common and preferred shareholders have voted in favor of its acquisition by Sompo Holdings. In October it was revealed that Sompo Japan Nipponkoa Insurance, a division of Sompo Holdings, was set to acquire Endurance for an aggregate ... Read the full article

Fairfax to tap Omers pension fund, other investors, to finance Allied World buy

25th January 2017

Fairfax Financial Holdings Limited is close to securing as much as $1 billion from Canada's OMERS pension fund to help finance its acquisition of Allied World Assurance Company Holdings, AG, according to reports. Prem Watsa's Canadian property & casualty insurance and reinsurance group Fairfax is set to acquire Switzerland headquartered specialty ... Read the full article

White Mountains said to explore One Beacon sale

19th January 2017

Bermudian insurance, reinsurance and financial services holding company White Mountains Insurance Group, Ltd. is reportedly seeking a sale of its specialty insurance arm One Beacon. Bloomberg said yesterday that people familiar with the matter say that One Beacon is being shopped to potential acquirers, and that the re/insurer has charged Credit ... Read the full article

Allied World “go-shop” period expires with no offers

19th January 2017

The "go shop" period for specialty insurance, reinsurance and investments player Allied World Assurance Company Holdings, AG, under the terms of its planned merger with Canadian property & casualty insurance and reinsurance group Fairfax Financial Holdings Limited has not resulted in any offers. Fairfax is set to acquire Allied World in ... Read the full article

U.S. re/insurance companies rethink M&A in Trump era: Reuters

12th January 2017

U.S. insurance and reinsurance companies are rethinking strategic merger or acquisition transactions over a fear of being painted “anti-American” by President-elect Donald Trump, according to a Reuters report. Recent developments in U.S. business show how market developments and volatility - a risk ranked second place in global top threats to the ... Read the full article

Intense market competition pushes reinsurers towards M&A: A.M. Best

10th January 2017

Ratings agency A.M. Best said in a recent report that intense market competition in reinsurance is ramping up the need for merger and acquisition (M&A) activity. Market conditions appear to be stabilising, in terms of reinsurance pricing as seen at the recent January renewals, but quality of earnings are under ... Read the full article

Compre acquires UK run-off re/insurance business of AG Insurance SA

6th January 2017

Independent insurance and reinsurance legacy specialist Compre has today announced its decision to purchase all of the run-off insurance and reinsurance business of the UK branch of AG Insurance SA for an undisclosed sum. The transaction is structured as a loss portfolio transfer and is awaiting relevant approvals in Belgium, ... Read the full article

Arch completes acquisition of mortgage insurer United Guaranty

4th January 2017

Arch Capital Group, the Bermudian headquartered insurance and reinsurance firm, has today announced its completed acquisition of United Guaranty Corporation (UGC) from American International Group (AIG). The acquisition of UGC will further expansion of Arch’s existing mortgage insurance businesses by combining UGC’s position as the market leader in the U.S. private ... Read the full article

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