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Mergers & acquisitions news

Athora to purchase Generali Belgium for €540mn

19th April 2018

Athora Holding Ltd. has announced an agreement with Italian insurer Assicurazioni Generali S.p.A. to acquire a complete stake in its Belgian subsidiary, Generali Belgium S.A., for a cash consideration of approximately €540 million (US $667mn). Primarily focused on the life segment, Generali Belgium is the 11th largest insurer in Belgium and ... Read the full article

Freedom to acquire St Andrew’s Insurance from Bank of Queensland

18th April 2018

Australian life re/insurer Freedom Insurance Group has entered into an agreement with Bank of Queensland (BOQ) to purchase St Andrew’s Insurance for a total consideration of AUD $65 million (USD $50.58 million), over half of which will be supplied via reinsurance funding. The parties revealed that the transaction is comprised of a ... Read the full article

Sedgwick finalises purchase of Cunningham Lindsey

17th April 2018

Sedgwick Claims Management Services has completed its planned acquisition of Cunningham Lindsey, a global loss adjusting, claims management, and risk solutions firm. The new combined organisation, which includes the subsidiaries of Sedgwick, Vericlaim and Cunningham Lindsey, plans to operate globally under the Sedgwick brand name. The acquisition of Cunningham Lindsey and its ... Read the full article

Generali completes sale of Panama and Colombia operations

16th April 2018

Italian headquartered global insurer Assicurazioni Generali S.p.A. has announced the closing of the sale of both its Panama and Colombia operations, for a consideration of approximately €170 million (US $210mn). Both transactions were originally announced during the second-half of 2017, and are part of the company's strategy to "rationalize its international ... Read the full article

IRB Brasil Re sells stake in UAIC to Quest Group for $5.3mn

12th April 2018

IRB International Corporation, a subsidiary of IRB Brasil Resseguros S.A. (IRB Brasil Re), has announced plans to sell its stake in United Americas Insurance Company (UAIC) for US $5.3 million to Quest Group Holdings Limited, a re/insurance market investor. IRB International has already entered a Share Purchase Agreement (SPA) with an affiliate ... Read the full article

Asian InsurTech M&A tripled in 2017: Willis Towers Watson

10th April 2018

Global re/insurance broker Willis Towers Watson has reported that the total transaction volume of InsurTech mergers and acquisitions (M&As) in Asia hit US $460 million over 2017, a figure over three times greater than the one recorded over 2016. In its fourth Quarterly InsurTech Briefing, Willis Towers Watson attributed the surge ... Read the full article

Howden to acquire majority stake in Turkish broker ACP

9th April 2018

Howden, part of the Hyperion Insurance Group, has announced that it plans to purchase a majority stake in ACP, Turkey’s largest independent re/insurance broker. The transaction will considerably expand Howden's operations in Turkey, adding sites in Ankara, Bursa, and Izmir to the company’s existing office in Istanbul, which was established in ... Read the full article

Peak Re completes sale of 13.1% stake to Prudential Financial

6th April 2018

Peak Reinsurance Company Limited has announced the completion of the sale of a 13.1% stake in Peak Re Holdings to Prudential Financial, Inc. The deal had been planned since February 2018, and was completed via the issuance of new shares to a wholly owned subsidiary of Prudential Financial. Before this transaction, ... Read the full article

Dramatic shift in reinsurance M&A trends, says Willis Re CEO Kent

5th April 2018

In the company’s latest reinsurance renewals report, Willis Re’s Chief Executive Officer (CEO), James Kent, observed a dynamic change in reinsurance mergers and acquisitions (M&A) activity as large primary carriers re-enter the reinsurance market. He suggested that new distribution models are causing the greatest disruption to major non-life primary companies with ... Read the full article

Kuvare finalises purchase of United Life Insurance

5th April 2018

Kuvare U.S Holdings, Inc. has announced the completion of its acquisition of United Life Insurance Company, a prominent U.S life re/insurer and subsidiary of United Fire Group (UFG). The acquisition brings the value of Kuvare’s consolidated assets to $3.7 billion, and the company will also benefit from United Life’s complete line ... Read the full article

Swiss Re open to commercial book bolt-on acquisitions: CEO Mumenthaler

4th April 2018

Global reinsurance firm Swiss Re is looking for growth within its commercial insurance book, the Corporate Solutions division, and is open to bolt-on type acquisitions to drive further growth in that area of its business. Speaking to the media this morning, Swiss Re CEO Christian Mumenthaler said that the firm would ... Read the full article

Athora Holding completes £170mn Aegon Ireland purchase

4th April 2018

Athora Holding Ltd. has announced the completion of its acquisition of Aegon Ireland plc, the Irish subsidiary of Dutch re/insurer Aegon N.V., for a final total consideration of approximately GBP 170 million (€195 million). Following the transaction, Athora now has roughly €10 billion of consolidated assets, 300,000 policyholders, and 400 employees ... Read the full article

SoftBank talks ongoing, but only a 10% investment stake on the table: Swiss Re

4th April 2018

According to reinsurance giant Swiss Re this morning, the talks with Japanese technology conglomerate and investor SoftBank Group are continuing, but the expectation is that if a deal is struck it will be for a maximum of 10% of the reinsurers share capital. The reinsurer explained this morning that, "negotiations are ... Read the full article

White Mountains buys majority stake in NSM Insurance Group

3rd April 2018

White Mountains Insurance Group has announced that it will acquire a majority equity stake in NSM Insurance Group, a specialty re/insurance program administrator, in a transaction that values NSM at approximately $388 million. NSM places over $500 million in premiums annually, and serves as a critical intermediary in the specialty re/insurance ... Read the full article

Integro completes merger agreement with Lloyd’s broker Tyser & Co

29th March 2018

Integro Insurance Brokers has announced the completion of an agreement to merge its UK wholesale and UK retail operations with specialist Lloyd's broker Tyser & Co (Tysers). The agreement will see Integro acquire 100% of Hawkes Bay Holdings (HBH), the privately-owned principal parent company of Tysers, upon receipt of regulatory approval. The transaction ... Read the full article

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