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.
BGC in $500mn sale of brokerage business to Ardonagh
26th May 2021
BGC Partners has entered into an agreement to sell its Insurance Brokerage business for $500 million to The Ardonagh Group. Ed Broking Group and Besso Insurance, recently grouped together under the brand of Corant Global, comprise of global wholesale and specialty re/insurance broker Ed, Lloyd’s broker Besso, aviation specialist Piiq Risk ... Read the full article
New Zealand extends Aon / WTW merger decision to July
25th May 2021
The New Zealand (NZ) Commerce Commission has failed to reach a decision on whether to approve the merging of Aon and rival Willis Towers Watson (WTW) by its deadline of May 25th, so has extended the date a decision is due by to July 2nd. New Zealand's Commerce Commission had launched ... Read the full article
Aston Lark acquires Veritan Consultants
24th May 2021
Insurance brokerage Aston Lark Ireland has acquired Veritan Consultants Limited which trades under Brady Burns & Associates. Brady Burns specialises in delivering commercial and personal lines insurance solutions to retail and business customers. Together with their team of experienced and dedicated staff Joe, Breda and Eimhin have continued to expand and grow the ... Read the full article
AFG’s annuity business sale gets regulatory nod
21st May 2021
The Ohio Department of Insurance has approved American Financial Group’s previously-announced sale of certain annuity businesses. The deal consists of Great American Life Insurance Company and its two insurance subsidiaries, Annuity Investors Life Insurance Company and Manhattan National Life Insurance Company. MassMutuals is the acquirer and this deal is expected to close ... Read the full article
Accelerant acquires Kinnell Holdings
21st May 2021
Underwriting group Accelerant Holdings has announced its acquisition of insurance group Kinnell Holdings and its six subsidiaries. Through the acquisition, Accelerant will acquire Kinnell's subsidiary Guarantee Protection Insurance Limited (GPI). The acquisition will broaden Accelerant's portfolio with the addition of Kinnell's other subsidiary companies, including two insurance intermediaries, a trade association, a ... Read the full article
Howden acquires Medical Professional Risk Solutions
20th May 2021
Howden Broking has acquired Medical Professional Risk Solutions (MPRS), a specialist insurance broker for the primary care sector. The acquisition will expand the Howden's Health & Care division as it continues to invest in specialisms to support clients. MPRS provides accident & health, professional liability, medical malpractice, and commercial combined cover for ... Read the full article
Re/insurance industry execs support sale of Willis Towers Watson assets: KBW
20th May 2021
Florida and Bermuda insurance and reinsurance industry executives recently expressed "widespread support" for the sale of Willis Re and certain other Willis Towers Watson (WTW) assets to Arthur J. Gallagher (Gallagher), according to analysts at KBW. It was announced last week that Gallagher had agreed a $3.57 billion deal to ... Read the full article
Taiwan FTC approves Aon – Willis Towers Watson merger
19th May 2021
Taiwan's Fair Trade Commission has given its approval to Aon's acquisition of and merging with rival Willis Towers Watson (WTW), saying that it does not feel it will restrict competition in the marketplace. Taiwan's Fair Trade Commission (FTC) is the entity responsible for competition policy and regulation and like so many ... Read the full article
R&Q completes acquisition of Electric Insurance Ireland DAC
19th May 2021
Randall & Quilter II Holdings Limited, the wholly owned UK subsidiary of Randall & Quilter Investment Holdings Ltd (R&Q), has now completed its acquisition of Electric Insurance Ireland DAC, a wholly owned captive insurer of Electric Insurance Company. The deal has been finalised following the receipt of regulatory approval from the ... Read the full article
Phoenix in advanced talks to sell European businesses, reports
18th May 2021
Leading life consolidator Phoenix Group is reported to be nearing the sale of its £550 million-rated European businesses to an unconfirmed buyer. Sky News says the deal is currently being finalised and that it could be announced as early as next week. Phoenix, whose market capitalisation stands at roughly £7.35 billion, is ... Read the full article
Resolution & Ashbrooke acquire Sportscover European operations
18th May 2021
Resolution Underwriting Holdings and Ashbrooke Group have completed their acquisition of Sportscover Europe and Active Underwriting Specialists, the European operations of Sportscover Australia Group. The purchase of the two MGAs will add significant capability and expertise to both the Resolution and Ashbrooke groups, with Resolution putting provisions in place for the ... Read the full article
Aon to sell retirement & investment business in Germany as part of EC remedy package
17th May 2021
Aon has agreed to sell its pensions consulting, pension insurance broking, pensions administration and investment consulting business in Germany to Lane Clark & Peacock LLP (LCP), as the global re/insurance broker moves closer to completing its proposed combination with rival Willis Towers Watson (WTW). This latest divestment comes as the brokerage seeks ... Read the full article
SRG acquires Blackrock Insurance Solutions
14th May 2021
Specialist Risk Group (SRG) has acquired specialist Irish Liability and Property MGA, Blackrock Insurance Solutions. The acquisition highlights SRG's commitment to the Irish broker market, as it invests in specialist underwriting capability and technical expertise, to support existing wholesale broker TUE and motor specialist MGA, LIME. SRG has been building its MGA ... Read the full article
Monument Assurance to acquire AME Life Luxembourg
14th May 2021
Monument Assurance Luxembourg, a member of the Monument Re Group, is set to acquire AME Life Luxembourg (AMELL) from French Mutual Insurance Group Covéa, subject to regulatory approvals. AMELL is a Luxembourg-based life insurance company with market presence in Luxembourg, Belgium and Italy. The transaction's financial terms were not disclosed and will have ... Read the full article
Willis Re’s data & analytics capabilities take Gallagher to ‘another level’, says CEO
13th May 2021
Arthur J. Gallagher's (Gallagher) agreement to acquire the majority of reinsurance broker Willis Re will take the company's data and analytics capabilities to new heights, according to J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer (CEO). Alongside other Willis Towers Watson (WTW) assets, Gallagher is poised to purchase ... Read the full article
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