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.
Gallagher to acquire Willis Re’s treaty reinsurance operations
13th August 2021
Arthur J. Gallagher & Co. has announced that it will be acquiring all of Willis Re's treaty reinsurance brokerage operations for an initial gross consideration of $3.25 billion; a figure which could rise by another $750 million dependent on certain third-year revenue targets. After seeing its proposed acquisition of Willis ... Read the full article
European Commission clears VIG Aegon acquisition
13th August 2021
The European Commission has given clearance for Vienna Insurance Group AG Wiener Versicherung Gruppe's (VIG) acquisition of Aegon’s businesses in Central and Eastern Europe. Last year, Aegon, a provider of life insurance, pensions and asset management, reached an agreement to sell its Central and Eastern European operations to VIG for ... Read the full article
DUAL to acquire Align Financial Holdings
12th August 2021
DUAL, the underwriting arm of Howden Group, has reached an agreement to acquire Align Financial Holdings, one of the leading specialist general agency and underwriting management groups in the US. Kieran Sweeney, Founder and CEO of Align, will lead the combined US businesses, supported by Jim O’Connor, CEO of DUAL North ... Read the full article
BMS Re wraps up acquisition of reinsurance broker Trean
11th August 2021
Independent reinsurance broker BMS Re has completed its previously-announced acquisition of Trean Intermediaries, a US-based independent reinsurance broker and services company. BMS Re acquired Trean in full, with staff and infrastructure transferring over. Sean Ryan, President of Trean, will assume the newly created role of Deputy CEO, BMS Re and reports ... Read the full article
IVANS acquires insurtech Ask Kodiak
11th August 2021
IVANS, a division of Applied Systems, has announced its acquisition of Ask Kodiak, an insurtech that offers commercial lines market appetite and search capabilities for the independent agency channel. The acquisition is expected to further enhance IVANS’ commercial lines connectivity solutions, and specifically the IVANS Distribution Platform. IVANS plans maintain Ask Kodiak’s ... Read the full article
Aston Lark acquires Essex Insurance Brokers
11th August 2021
Insurance broker Aston Lark has announced the acquisition of Essex Insurance Brokers, a firm that specialises in the film and visual arts insurance sector. Established in 1964 and based in Hornchurch, Essex Insurance Brokers serves both personal and business clients nationwide and is expected to complement the services of Aston Lark’s ... Read the full article
Brookfield Reinsurance to acquire American National for $5.1bn
9th August 2021
Brookfield Asset Management Reinsurance Partners, which was launched by the alternative asset manager in late 2020, has entered into a definitive agreement to acquire American National Group, Inc. in an all-cash transaction valued at $5.1 billion. Brookfield's recently launched reinsurance business operates as a paired entity to Brookfield, providing shareholders ... Read the full article
Corvus Insurance acquires Wingman tech platform
9th August 2021
Boston-based insurtech firm Corvus Insurance has announced the acquisition of Wingman Insurance, which provides a tech platform for cyber and tech E&O coverage across the US. Wingman, which will retain its independent brand and offering following the acquisition, is expected to enable Corvus to enter the admitted coverage marketplace and increase ... Read the full article
Arch Re completes takeover of Somerset Bridge
6th August 2021
Arch Reinsurance Ltd., the specialty property and casualty reinsurance subsidiary of Bermuda-based Arch Capital Group Ltd., has announced the completion of its acquisition of Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates (Somerset). First announced in June 2021, the transaction includes Somerset’s motor managing general agent, distribution capabilities ... Read the full article
Aston Lark acquires Plester Group
6th August 2021
Aston Lark, the chartered insurance broker backed by Goldman Sachs, has announced the acquisition of Plester Group. Established in 1964 and based in Kidderminster, Plester is focused on the commercial and personal insurance market. “We’re delighted to welcome Justin and his team to Aston Lark, further strengthening our presence in the Midlands,” ... Read the full article
Jonathan Ritz named CEO of ProSight amid private equity takeover
5th August 2021
Jonathan Ritz has been named as Chief Executive Officer (CEO) of specialty insurer ProSight Global, following the acquisition of the company by investment management specialist TowerBrook Capital Partners and private equity firm Further Global Capital Management. TowerBrook and Further Global recently announced the completion of their takeover, having first agreed ... Read the full article
Moody’s to acquire RMS for $2bn
5th August 2021
Moody's has entered into an agreement to acquire catastrophe risk modelling firm RMS for approximately $2.0 billion from Daily Mail and General Trust. The acquisition will increase Moody’s insurance data and analytics business to nearly $500 million in revenue and will accelerate the development of the company’s global integrated risk capabilities ... Read the full article
Risk Strategies acquires Centric Actuarial Solutions
5th August 2021
Risk Strategies has acquired property and casualty actuarial consulting firm Centric Actuarial Solutions. Centric consults clients in a wide variety of industries to help understand and assess their cost of risk, with a focus on organisations employing alternative risk programs and approaches. Its clients include governmental entities, retail and restaurant businesses, self-insured ... Read the full article
Amwins acquires National Truck Underwriting Managers
5th August 2021
Amwins has acquired National Truck Underwriting Managers (NTUM), a truck insurance wholesaler offering access to primary liability, physical damage and motor truck cargo package policies. NTUM will join Amwins' Underwriting Division, and compliment the services of Amwins Transportation Underwriters and working in conjunction with trucking industry specialists within the firm's Brokerage ... Read the full article
McLarens acquires Canadian loss adjuster MGB Claims
4th August 2021
Insurance services provider McLarens is set to acquire MGB Claims, a complex commercial claims adjusting firm based in Canada. Headquartered in Toronto with additional employees in Calgary and Vancouver, MGB Claims’ team consists of 25 adjusters plus additional support personnel. MGB Claims focuses on large and complex claims in Canada and the ... Read the full article
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