Reinsurance News
Reinsurance mergers and acquisitions news, covering details of M&A transactions in the works and completed, between insurance, reinsurance and related companies.
16th October 2019
Reuters has reported that a number of sources have claimed that French insurance giant AXA is considering the sale of its Central European business as part of a restructuring to exit markets where the firm does not have sufficient scale. Reportedly, information packs regarding the sale have been sent to potential ... Read the full article
16th October 2019
EPIC Insurance Brokers and Consultants, a retail property and casualty broker and employee benefits consultant, is set to welcome Prime Risk Partners to its national insurance platform. Prime Risk is headquartered in Atlanta and manages a range of risks across the US. The firm will initially operate as Prime Risk Partners – ... Read the full article
14th October 2019
Global insurance brokerage Arthur J. Gallagher & Co. has announced the acquisition of Proinova, an insurance broker based in Helsingborg, Sweden. Founded in 1989, Proinova specialises in group solutions for the real estate sector, offering insurance, loss prevention training and claims advocacy services for trade association members. It also serves clients in ... Read the full article
14th October 2019
MedPro Group, Berkshire Hathaway's U.S. healthcare liability insurer, has entered into a definitive agreement to acquire the renewal rights of Swiss Re Corporate Solutions' Healthcare Professional Liability book, effective October 11th, 2019. According to an announcement on the deal, the agreement includes Hospital and Senior Care accounts underwritten by Swiss Re ... Read the full article
11th October 2019
International General Insurance Holdings (IGI), the specialist commercial re/insurer, has entered into a business combination agreement with special purpose acquisition firm Tiberius Acquisition Corp., which will result in the public listing of IGI. The agreement prices IGI at approximately 1.26x its book value of $316 million (as of June 30, 2019), ... Read the full article
11th October 2019
US global insurance brokerage and risk management services firm Arthur J. Gallagher & Co. has announced the purchase of Garrett-Stotz Company, a Kentucky-based insurance agency. Garrett-Stotz was founded in 1931 and is a full-service commercial and personal lines property/casualty and benefits agency. The firm's areas of specialisation include construction/surety, real estate and ... Read the full article
9th October 2019
London headquartered specialist insurer, CFC, has expanded its in-house cyber incident response capabilities with the acquisition of Texas-domiciled incident response provider, Solis Security. CFC's large in-house cyber claims and incident response team has handled almost 1,500 cyber claims this year alone. Now, with the addition of Solis Security, CFC has deepened ... Read the full article
8th October 2019
Randall & Quilter II Holdings Limited, a subsidiary of Randall & Quilter Investment Holdings Ltd. (R&Q), has completed its acquisition of Sandell Holdings Limited along with its reinsurance subsidiary, Sandell Re Ltd. R&Q previously announced back in July 2019 that it planned to purchase the entire issued share capital of ... Read the full article
8th October 2019
Sagicor Life, a subsidiary of Caribbean financial services provider Sagicor, has announced the acquisition of traditional insurance portfolios from Colonial Life Insurance Company (Trinidad) Limited (CLICO) and British American Insurance Company Trinidad Limited (BAT). The insurance policies assumed will consist of a combination of ordinary long-term life insurance policies, including universal ... Read the full article
7th October 2019
Liberty Mutual Reinsurance has announced a series of changes to the structure of its financial risks reinsurance team following the acquisition of Nationale Borg Reinsurance (NB Re) from AmTrust earlier this year. First announced in April, the agreement saw LM Insurance Group acquire four AmTrust businesses: AmTrust Surety; AmTrust Insurance ... Read the full article
3rd October 2019
Arthur J. Gallagher & Co. has announced that its captive and alternative risk transfer solutions subsidiary, Artex Risk Solutions, has signed an agreement to acquire Horseshoe Insurance Services Holdings Ltd. Horseshoe is a Bermuda-headquartered provider of insurance management fund administration, advisory and corporate services to the insurance-linked securities (ILS) market. The firm, ... Read the full article
3rd October 2019
Tokio Marine Holdings, the largest property and casualty insurance group in Japan, has announced plans to acquire US high net worth insurance specialist Pure Group for $3.1 billion. The acquisition is expected to close by March 2020 and will be completed through Tokio Marine’s subsidiary HCC Insurance Holdings. Tokio Marine's pending acquisition ... Read the full article
3rd October 2019
Data analytics provider Verisk has agreed to acquire BuildFax, a firm specialising in property condition and history data, from its shareholders. Following the acquisition, BuildFax will become part of ISO, a Verisk business. BuildFax uses building permit, contractor, and inspection data to provide information about the condition of properties to re/insurers and ... Read the full article
3rd October 2019
Liberty Mutual Insurance has announced that it has completed the acquisition of the business and operations of certain European businesses of AmTrust Financial Services, following the satisfaction of customary closing conditions. Under the transaction, Liberty Mutual Insurance has acquired the operations of Nationale Borg, Nationale Borg Reinsurance, and AmTrust Insurance Spain. Read the full article
3rd October 2019
Global specialty re/insurer Canopius Group has completed its previously-announced merger with AmTrust's Lloyd's operations. The merger between Canopius Lloyd’s Syndicate 4444 and AmTrust Syndicate 1861 was first announced back in April and will result in the establishment of a top-five Lloyd’s insurer with combined premiums of roughly £2.2 billion. It is believed ... Read the full article
