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Reinsurance News
Reinsurance mergers and acquisitions news, covering details of M&A transactions in the works and completed, between insurance, reinsurance and related companies.
3rd December 2019
Florida-based FedNat Holding Company has successfully completed its acquisition of the homeowners insurance operations 1347 Property Insurance Holdings, Inc. (1347 PIH) for $51 million. The deal, first announced in February 2019, sees FedNat take over Maison Insurance Company, Maison Managers, Inc., and ClaimCor LLC (collectively Maison). Maison is a property and ... Read the full article
2nd December 2019
Bermuda-based re/insurance company Arch Capital Group has completed its acquisition of Barbican Group Holdings Limited from owner investor Carlson Capital. The deal, first announced in July 2019, is expected to provide a significant expansion to Arch’s London and Lloyd’s related insurance and reinsurance underwriting operations. As part of the acquisition, Arch ... Read the full article
2nd December 2019
Zurich Insurance Group has completed the acquisition of 80% of PT Asuransi Adira Dinamika (Adira Insurance), thereby becoming the largest property and casualty (P&C) insurer in Indonesia. Adira Insurance is among the top 10 P&C insurers in Indonesia. It generated gross written premiums of US $170.4 million in 2018 and has leading ... Read the full article
29th November 2019
Cooper Gay (France) SAS (CGF), the French MGA owned by Ed Broking, has announced that it plans to acquire a Belgium headquartered service company from Tokio Marine Kiln. Following the acquisition, Tokio Marine Kiln Europe SA (TMKE) will combine with CGF to create a single business, to be named Cooper Gay. CGF ... Read the full article
28th November 2019
Global insurer AIG’s Long-Term Issuer Credit Rating of “bbb”, as well as the Financial Strength Ratings and the Long-Term ICRs of its operating subsidiaries, remain unchanged by AM Best following the decision to offload Fortitude Re in a transaction the ratings agency describes as incrementally positive for the group. AIG ... Read the full article
27th November 2019
Arthur J. Gallagher & Co. (AJG) has announced that it has agreed heads of terms to pursue the necessary transaction to take 100% ownership of reinsurance specialist brokerage Capsicum Re. The transaction has been in the offing, as time was running out on an option that AJG had to expand its ... Read the full article
27th November 2019
AXA XL, the property and casualty (P&C) and specialty risk unit of AXA, has announced the acquisition of London-based insurance agency and Lloyd's of London coverholder, Secure Legal Title Limited. Secure Legal Title was founded in 2012 and provides protection to cover legal risks in property transactions and mortgage finance, with ... Read the full article
27th November 2019
H.W. Kaufman Group, a global network of insurance companies, has acquired Barbican Protect Limited from Barbican Insurance Group, subject to regulatory approval. The agreement sees Barbican Protect rebrand as Burns & Wilcox and join H.W. Kaufman Group London, and is part of the company's expansion plans into the UK marketplace. The acquisition ... Read the full article
26th November 2019
Great American Insurance Group has announced the promotion of Roy Reynolds to Divisional President within its Property & Casualty (P&C) Group, Mergers & Acquisitions (M&A) Liability Division. At the same time, Great American has named Garry Gordon as Divisional Senior Vice President, also for its P&C Group, M&A Liability Division. Reynolds joined ... Read the full article
26th November 2019
Joachim Wenning, Chief Executive Officer (CEO) of reinsurance giant Munich Re, has said that the company is currently more interested in looking at acquisitions of primary insurers, according to reports from German newspaper Welt. Speaking at an event on Monday evening in Munich, Wenning said that acquisitions of reinsurance firms seemed ... Read the full article
26th November 2019
The Carlyle Group and T&D Holdings have partnered to acquire a 76.6% ownership interest in Fortitude Re, the run-off reinsurer launched by AIG and Carlyle in November 2018. Valued at $1.8 billion, the deal will leave Carlyle with a 71.5% stake in Fortitude Re (including the 19.9% stake it took ... Read the full article
26th November 2019
Around 3,200 deals were transacted globally in 2018 using warranty and indemnity (W&I) insurance, with market value reaching $2.3 billion, according to a new report from re/insurance broker Aon. The report found that market value was up 35% from 2014, with demand for merger and acquisitions (M&A) insurance products driven by ... Read the full article
25th November 2019
Global insurer and reinsurer Chubb has reached an agreement to purchase an additional 15.3% stake in Huatai Insurance Group Company Limited, taking the firm's holding in the company to 46.2%. In March 2019, Chubb announced that it had increased its ownership in Huatai Insurance Group Company from 20% to 26.2%. Then, ... Read the full article
22nd November 2019
Specialist insurer Beazley has announced the appointment of Jade Cummings as an underwriter in its global mergers and acquisitions (M&A) team, based in Singapore. The global M&A team underwrites companies engaged in M&A activity, including acquisitive corporations, private equity funds, corporate spinoffs, asset sales or purchases, and refinancing transactions. Cummings joins Beazley ... Read the full article
22nd November 2019
National General Holdings Corp. has received regulatory approval to go ahead with the sale of its Euro Accident Health and Care Insurance Sweden operation. The company was given the go-ahead by the Swedish Financial Supervisory Authority to offload the business to an investor group arranged by Impilo AB, a Swedish investment ... Read the full article
