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.
Prudential Financial sells Taiwan business to Taishin Financial
2nd July 2021
US insurance and investment firm Prudential Financial has completed the sale of its Taiwan based life insurance business to Taishin Financial Holding Co., Ltd., following a successful regulatory review. The sale of Prudential Life Insurance Company of Taiwan Inc was first announced back in August 2020, and saw the locally based Taishin ... Read the full article
Gallagher acquires employee benefits consulting firm Stellar
1st July 2021
Insurance broker Gallagher has announced the acquisition of Stellar Benefits, an Ohio-based employee benefits consulting firm. Founded in 2003, Stellar Benefits offers comprehensive health and welfare programs for businesses of all sizes, ranging from individual offices to multinational corporations. Ronald Rafal, Alan Greenberg and their associates will continue to operate from their ... Read the full article
CoreLogic expands offering with ClosingCorp acquisition
1st July 2021
Catastrophe risk modeller CoreLogic has announced an agreement to acquire all outstanding shares of San Diego headquartered ClosingCorp, a valued partner in the housing ecosystem. ClosingCorp owns and operates a leading source of intelligence for closing costs and service providers in the U.S. residential real estate industry. The company provides unique intelligence ... Read the full article
DoJ’s Feb 2022 trial date ‘untenable’ and prolongs uncertainty, says Aon/WTW
30th June 2021
Lawyers of global re/insurance brokers Aon and Willis Towers Watson (WTW) have described the US Department of Justice's (DoJ) proposal that its trial seeking to block their merger not commence until February of next year as "untenable". In an effort to stop the creation of what it calls a "broking behemoth", ... Read the full article
South Africa asks for further divestments in Aon / WTW remedy package
29th June 2021
The Competition Commission of South Africa (CCSA) has required that brokers Aon and Willis Towers Watson (WTW) make a number of significant divestments to remedy competition concerns before their pending merger can be approved in the country. The regulator has asked that the brokers divest WTW’s entire global reinsurance broking business ... Read the full article
Aon / WTW merger needs further review, says Singapore
29th June 2021
After completing its initial review of the proposed combination of re/insurance brokers Aon and Willis Towers Watson (WTW), the Competition and Consumer Commission of Singapore (CCCS) has identified executive compensation and related consulting services as areas for further review. Following receipt of a notification from Aon for a decision on the ... Read the full article
Analysts believe a sale of XL Re could be positive for AXA
28th June 2021
Following news this morning that French, non-life mutual insurer Covéa is exploring a move for the reinsurance business of AXA XL, analysts feel a sale could be positive for AXA and increase its valuation by up to 6%. After failing to acquire SCOR in 2018, and then seeing its agreement to ... Read the full article
NN Group makes takeover bid for MetLife business in Europe
28th June 2021
Dutch insurer NN Group has confirmed that it has put forward an offer to acquire part of MetLife’s businesses in Europe. The company says that such an acquisition would be an opportunity to consolidate its positions in these markets, which are considered to have attractive growth potential. Neither NN Group or MetLife ... Read the full article
Covéa interested in acquiring AXA XL Re: report
28th June 2021
French insurer Covéa has reportedly not given up on its plans to diversify into the reinsurance industry and is looking at the acquisition of AXA Group's non-life reinsurance operations, AXA XL Re. The news comes more than a year after Covéa's acquisition of Bermuda-based reinsurer PartnerRe was called off amid ... Read the full article
Arch Re looks to strengthen UK motor capabilities with acquisition of Somerset
23rd June 2021
Arch Reinsurance Ltd., the specialty property and casualty reinsurance subsidiary of Bermuda-based Arch Capital Group Ltd., is looking to acquire Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates (Somerset). The proposed transaction, which is subject to regulatory approval, includes Somerset's motor managing general agent, distribution capabilities via direct and ... Read the full article
European insurers primed for more M&A: Moody’s CFO Survey
23rd June 2021
European insurers appear to be emerging from the pandemic with a stronger appetite for mergers and acquisitions (M&A), according to a survey of Chief Financial Officers conducted by Moody’s. Respondents seemed to indicate that mergers and acquisitions are increasingly being seen as a means of adapting business models to sluggish long-term ... Read the full article
Combined Aon/WTW would be world’s largest outsourced investment firm: Bloomberg
23rd June 2021
Reports from Bloomberg highlight how the proposed $30 billion merger of insurance brokerage giants Aon and Willis Towers Watson (WTW) would create the world’s largest outsourced investment management firm. Some critics of the proposed deal have warned that the combined entity would dominate outsourced investment services, noting concerns that the large ... Read the full article
Swiss Re cuts stake in Phoenix Group to 6.6%
23rd June 2021
Reinsurance giant Swiss Re has successfully reduced its shareholding in Phoenix Group Holdings plc by roughly 6.6% by selling 66,199,917 shares in the firm for £437 million. Swiss Re acquired a stake in the company last year through the sale of its ReAssure Group plc subsidiary to Phoenix. The sale was ... Read the full article
Aston Lark acquires broker Premier for £2mn
23rd June 2021
Aston Lark has acquired Bolton-based brokerage Premier Insurance Consultants, bringing its total number of acquisitions in 2021 to 15. Premier Insurance was established in 1990 and currently has a GWP of over £2 million, with eight employees. It is a specialist commercial insurance broker that has developed a particular niche in the ... Read the full article
Australia’s CommBank sells general insurance arm to Hollard Group
22nd June 2021
Commonwealth Bank of Australia (CBA) has entered into an agreement to sell its Australian general insurance business (CommInsure General Insurance) to the Hollard Group (Hollard). The transaction includes $625 million of upfront consideration, together with deferred payments and additional investment from Hollard. CBA will also continue to earn income on the distribution ... Read the full article
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