Reinsurance News
Mergers & acquisitions news
Reinsurance mergers and acquisitions news, covering details of M&A transactions in the works and completed, between insurance, reinsurance and related companies.
Porch bolsters insurtech, home warranty presence with new acquisitions
13th September 2021
Software company Porch Group has announced the acquisitions of CSE Insurance and American Home Protect (AHP), as it looks to accelerate its insurtech ambitions and enter the home warranty market. CSE is a California-based personal lines insurer focused on property and auto that Porch has agreed to acquire from its current ... Read the full article
Activist investor urges board to explore full sale of Argo Group
13th September 2021
One of Argo Group International Holdings, Ltd.'s largest shareholders, Capital Returns Management, LLC, has called on the re/insurer's Board of Directors to conduct a strategic alternatives review and consider a full sale of the company. The activist investor believes that Argo's assets and market position support a sale price of at ... Read the full article
AXA and Bharti complete sale of Indian non-life operations
10th September 2021
AXA and Bharti have completed the combination of their non-life insurance operations in India into ICICI Lombard General Insurance Company Limited. The firms first announced back in August 2020 their intention to combine Bharti AXA General Insurance Company Limited into ICICI Lombard, which is one of the leading general insurance ... Read the full article
Indian brokers Amicus and First Policy approved for merger
10th September 2021
Indian broking firms First Policy Insurance Brokers and Amicus Insurance Brokers have announced plans to merge, following approval from the country’s regulator. The Insurance Regulatory and Development Association of India (IRDAI) granted in-principle approval for the transaction last month. Leaders from the two broking firms expressed confidence that the merger would enable ... Read the full article
WTW sells Innovisk stake to equity funds BHMS and Abry
9th September 2021
Innovisk Capital Partners has announced that BHMS Investments and Abry Partners have signed an agreement to acquire a majority ownership position in the business from Willis Towers Watson (WTW). Established in 2017, Innovisk seeds, develops and grows MGAs using data and analytics to aid product development and pricing, as well as ... Read the full article
Flood modeller Fathom secures Moody’s investment
9th September 2021
Flood risk modeller Fathom has announced a minority investment from Moody’s Corporation, the global risk assessment firm, in a deal described by the former as huge recognition for its work in the space. The deal will see Moody’s assume one seat on its board of directors. “National and regional economies, insurers and ... Read the full article
Davies acquires Lloyd’s MGA Asta
8th September 2021
Specialist professional services and technology firm Davies has acquired Lloyd's third party managing agent Asta in an effort to add strength and reach to its global insurance services practice. London-based Asta was key in the development of Lloyd’s recent Syndicate-in-a-box (SIAB) framework and is seen as a way to widen Davies' ... Read the full article
Brown & Brown agrees to acquire Berkshire Insurance Group
8th September 2021
Berkshire Hills Bancorp, and Brown & Brown Massachusetts have entered into a definitive agreement for the sale of the assets and operations of Berkshire Insurance Group, (BIG), a subsidiary of Berkshire Hills. The transaction is subject to customary conditions and is expected to be completed in the third quarter. BIG provides insurance ... Read the full article
AXA offloads insurance operations in Gulf region for $264mn
7th September 2021
Global insurer AXA has completed the sale of its 50% shareholding in AXA Gulf and its 34% shareholding in AXA Cooperative Insurance Company (in Saudi Arabia) to Gulf Insurance Group, for a cash consideration of $264 million. The sale of AXA’s 28% shareholding in AXA Green Crescent Insurance Company (in UAE), ... Read the full article
Marsh McLennan Agency acquires Vaaler Insurance
6th September 2021
Marsh's marketing agency subsidiary Marsh McLennan Agency has acquired Vaaler Insurance, an independent agency in North Dakota. Vaaler is a third generation family-owned business, providing business insurance, employee health and benefits, and personal lines solutions, with specialised expertise in the construction, education, and healthcare industries. Founded in 1947, the company employs 81 ... Read the full article
Enstar takes controlling stake in Enhanzed Re
2nd September 2021
Enstar has announced that one of its subsidiaries has completed the purchase of the entire 27.7% interest in Enhanzed Re previously held by an affiliate of Hillhouse Group. The purchase price of $217.1 million is based on 90% of Enhanzed Re’s total shareholders’ equity as of June 30, 2021 and is ... Read the full article
Arch Capital closes acquisition of Westpac’s LMI business
1st September 2021
Arch Capital has closed its previously announced acquisition of Westpac Lenders Mortgage Insurance Limited (WLMI), an authorised captive lenders mortgage insurance (LMI) provider to the financial services group Westpac. With this deal finalised Arch intends to proceed by combining the operations of WLMI with its existing Australian LMI company, Arch ... Read the full article
OMERS takes $375m stake in Fairfax’s Brit
31st August 2021
Fairfax Financial Holdings Limited has announced the completion of an investment into its Brit Limited subsidiary by OMERS, the pension plan for Ontario’s municipal employees. First announced in February 2021, the transaction sees OMERS acquire a 14% stake in Brit for a cash sum of approximately $375 million. After closing, Fairfax will ... Read the full article
Crawford acquires contents valuation service edjuster
31st August 2021
Crawford & Company, a provider of claims management and outsourcing solutions to carriers, brokers and corporations, has announced the acquisition of edjuster, a technology-driven field and desktop contents claims handling solutions company. edjuster operates on a proprietary contents management platform that offers contents inventory and valuation solutions for both high severity ... Read the full article
WTW agrees to acquire Leaderim
27th August 2021
Willis Towers Watson has entered into an initial, non-binding agreement to acquire Leaderim, an insurance broking and consultancy business in Israel. Leaderim offers a broad range of commercial insurance solutions to the Israeli market and has significant experience in creating multinational risk programs, reflecting the large concentration of global companies operating ... Read the full article
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