Reinsurance News
Reinsurance mergers and acquisitions news, covering details of M&A transactions in the works and completed, between insurance, reinsurance and related companies.
1st December 2020
Life reinsurance and insurance holding company, Monument Re, has completed its acquisition of a portfolio from Zurich Life Assurance plc. Monument Life Insurance d.a.c, an Ireland-based life insurance subsidiary of Monument Re, completed the acquisition on November 30, 2020. The portfolio in question consisted of unit-linked International Portfolio Bond policies from Zurich ... Read the full article
1st December 2020
AmWINS Group has announced plans to acquire International Specialty Brokers Limited (ISBL), a Bermuda-based P&C wholesale insurance and reinsurance broker. Following the takeover, ISBL will join AmWINS Brokerage and become AmWINS Bermuda from January 1, 2021. AmWINS believes the acquisition will enhance its access to the international market, while complementing the existing ... Read the full article
1st December 2020
A consortium led by Singapore Life Pte. Ltd. (Singlife) has completed its previously announced transaction to combine Singlife with UK insurer Aviva's Singapore operations. With the deal now complete, a new company called Aviva Singlife Holdings Pte. Ltd. will now hold the Singlife and Aviva Singapore legal entities, which will continue ... Read the full article
1st December 2020
Bermuda based insurance, reinsurance and run-off specialist Enstar Group has announced the completion of the sale and recapitalization of StarStone U.S. Holdings, Inc., via the sale of StarStone U.S. to Core Specialty Insurance Holdings, Inc. The recapitalization was led by SkyKnight Capital, L.P., Dragoneer Investment Group, and Aquiline Capital Partners ... Read the full article
30th November 2020
Global re/insurer, HDI Global Specialty SE has renewed its underwriting agency agreement with German M&A insurance specialist MGA, AMANIKI. Under the terms of the agreement, AMANIKI will be moving from a co-insurance panel of capacity providers to a 100% exclusive binder with HDI Global Specialty. The Frankfurt based MGA was formed in ... Read the full article
30th November 2020
Private equity firm Cinven and British Columbia Investment Management Corporation (BCI) have reached an agreement to purchase legacy acquirer, Compre, from existing shareholders CBPE Capital LLP, Hudson Structured Management Limited, and Compre's management. Following the transaction, Cinven and BCI will become majority shareholders alongside Compre's management team, led by Chief Executive ... Read the full article
30th November 2020
Aegon, a provider of life insurance, pensions and asset management, has reached an agreement to sell its Central and Eastern European operations to Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) for €830 million. The net proceeds represent a multiple of 2.6 times the book value on June 30th, 2020, and ... Read the full article
30th November 2020
Global insurer AXA has entered into an agreement to sell its insurance operations in the Gulf region, which includes its shareholding in AXA Gulf, AXA Cooperative Insurance Company, and AXA Green Crescent Insurance Company, to Gulf Insurance Group (GIG). Under the terms of the arrangement, AXA will sell its stake in ... Read the full article
27th November 2020
Insurer MAPFRE has announced that following its 51% acquisition of health insurer, ARS Palic, earlier this year, the Dominic Republic domiciled insurer has now rebranded as MAPFRE Salud ARS. The acquisition was announced in February this year, and aims to strengthen MAPFRE’s position in the country whilst leaving the León ... Read the full article
27th November 2020
R&Q Re, a subsidiary of non-life global specialty insurer Randall & Quilter, has announced the acquisition of a Bermuda-domiciled captive. The transaction is subject to customary closing conditions and regulatory approval. R&Q Re is a Class 3A reinsurer and R&Q’s primary legacy vehicle in Bermuda. It had statuary capital of $100m ... Read the full article
26th November 2020
Canadian property and casualty insurer Intact has taken a step closer to securing its joint-acquisition of RSA with the successful completion of a previously-announced $3.2 billion capital raise. The $3.2 billion was raised via a private placement of 23.8 million subscription receipts to Caisse de dépôt et placement du Québec, ... Read the full article
26th November 2020
Zywave, a provider of front office distribution SaaS solutions has signed a definitive agreement to acquire Insurance Technologies Corporation (ITC). The company, which is backed by Clearlake Capital Group and Aurora Capital Partners plans to align and integrate ITC's products within its Sales Cloud offering. This would include multiple front-of-office software solutions ... Read the full article
25th November 2020
Spring Partners, a joint venture from broker Aston Lark, has announced its formation as a Managing General Agent platform. Spring Partners, led by CEO Jeremy Miles and Chairman Russell Kilpatrick, has been created to invest in and create new MGAs. “We are excited to be launching Spring Partners, aligning quality capacity with ... Read the full article
25th November 2020
Specialty insurer and reinsurer, Argo Group International Holdings Ltd., has confirmed that it received $30 million at the closing of its sale of Ariel Re to private equity investors Pelican Ventures and J.C. Flowers & Co. It was announced earlier today that the two private equity investors have now completed ... Read the full article
25th November 2020
Hedge fund backed reinsurer Third Point Re and multi-line re/insurer Sirius Group have gained key approvals from shareholders that will enable them to proceed with their planned merger agreement. At a Third Point Re special general meeting, the shareholders approved the issuance of Third Point Re common shares to Sirius Group ... Read the full article
