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.
AXA reaches agreement with Generali over sale of Malaysian insurance operations
22nd June 2021
Global insurer AXA has reached an agreement with carrier Generali to sell its insurance operations in Malaysia, which includes its 49.99% holding in AXA Affin General Insurance (AAGI) and 49% holding in AXA Affin Life Insurance (AALI), for total cash proceeds of €140 million. Generali has agreed to purchase the majority ... Read the full article
DoJ suit may prolong international decisions on Aon & WTW merger
21st June 2021
The decision by the U.S. Department of Justice (DoJ) to try to block the proposed combination of re/insurance brokers Aon and Willis Towers Watson (WTW), suggests that regulators in other jurisdictions are now likely to fall in behind the DoJ's timeline, according to reports. Last week's announcement from the U.S. ... Read the full article
AJ Gallagher acquires Excess Underwriting Company in Ontario
21st June 2021
Global insurance broker Arthur J. Gallagher & Co. has the acquisition of Markham, Ontario-based Excess Underwriting Company. Founded in 2008, Excess Underwriting Company is a property and casualty managing general agency (MGA) and Lloyd's broker serving insurance brokers and their clients across Canada. The team specializes in commercial and residential property and ... Read the full article
Aon & Willis Towers Watson surprised by DOJ lawsuit: report
21st June 2021
Global re/insurance brokers Aon and Willis Towers Watson (WTW) are said to have been surprised by the U.S. Department of Justice's (DOJ) decision to block their proposed combination, amid reports the parties were not offered a so-called 'last rites' meeting with leadership. Last week, the DOJ filed a civil antitrust ... Read the full article
Gallagher “wide open” to take on more Aon / WTW business, says CEO
18th June 2021
J. Patrick Gallagher, Jr. Chairman, President and CEO at Arthur J Gallagher, has said that the company remains “wide open” to taking on more business from the pending merger between Aon and Willis Towers Watson (WTW), should it be offered up as part of a further remedy package. It was confirmed ... Read the full article
Aon-WTW deal would deliver better client services, says GlobalData
18th June 2021
GlobalData analysts believe the Aon and Willis Towers Watson merger will complement each broker's business solutions and deliver better client services, following a block of their proposed merger by the Justice Department in the US. The U.S. Department of Justice (DOJ) filed a civil antitrust lawsuit to block the proposed ... Read the full article
Further divestitures more likely than Aon/WTW deal collapse, say analysts
17th June 2021
As the U.S. Department of Justice (DOJ) sues to block the combination of global re/insurance brokers Aon and Willis Towers Watson (WTW), analysts at KBW view additional divestitures as a more likely outcome than the deal falling apart completely. Previous reports that the DOJ was likely to approve the $30 ... Read the full article
US DOJ files antitrust lawsuit to block $30bn Aon / WTW combination
17th June 2021
The U.S. Department of Justice (DOJ) has filed a civil antitrust lawsuit to block the proposed $30 billion combination of Aon and Willis Towers Watson (WTW), stating that the merger threatens to eliminate competition, increase prices, and ultimately create a "broking behemoth." In response to the DOJ's announcement, Aon and WTW ... Read the full article
Allianz Capital to acquire 10% stake in ATC Europe
17th June 2021
Allianz Capital Partners is set to acquire a 10% stake in ATC Europe, one of the continent’s leading independent telecommunications tower operators, in a deal estimated to be valued at over €530 million. This investment is the latest in a long-term strategic partnership between global insurer Allianz and American Tower, a ... Read the full article
AJ Gallagher takes remaining shares in Hesse units
16th June 2021
Global insurance broker Arthur J. Gallagher has acquired the remaining shares of Zurich, Switzerland-based Hesse & Partner AG and Hesse Consulting GmbH from founder, Guido Hesse. Gallagher entered a partnership with Hesse and Partner three years ago when it acquired a majority interest of the business. Founded in 1997, Hesse and Partner ... Read the full article
Alexander Forbes completes insurance exit with AF Life sale
15th June 2021
African financial services firm Alexander Forbes has concluded its exit from insurance business following the sale of transfer of its risk and retail life business to South African insurer Sanlam Life. The business operations formed part of AF Life, a long-term insurance company and wholly owned subsidiary of Alexander Forbes that ... Read the full article
Aon’s India broking operations shift under the Aon brand name
15th June 2021
Aon has completed its acquisition of a 49% stake in Indian broker Anviti, which has since been rebranded as Aon India Insurance Brokers Private Limited. The takeover was announced back in 2020 but has only now gained regulatory approval. As a result, Aon said that it will now operate its insurance and ... Read the full article
Aston Lark acquires McMahon Galvin
14th June 2021
Aston Lark Ireland, the Irish branch of the chartered broker backed by Goldman Sachs, has acquired insurance brokerage McMahon Galvin. McMahon Galvin was founded in Dublin in 1970 and focuses on home and car insurance for individuals along with a full range of insurance services to businesses. Peter Hanlon and John Galvin ... Read the full article
Intact Financial sells Danish business to Alm. Brand for $1.26bn
14th June 2021
Canadian property and casualty (P&C) insurer Intact Financial Corporation has announced plans to sell Codan Forsikring A/S's Danish business (Codan DK) to Alm. Brand A/S Group. Codan DK is owned by Scandi JV Co 2 A/S, which is in turn co-owned Intact and Tryg A/S following their recent acquisition of ... Read the full article
Aon / WTW deal expected to gain EU antitrust approval by early July: Reuters
11th June 2021
Reuters, citing people familiar with the matter, has said that re/insurance broker Aon's proposed $30 billion combination with Willis Towers Watson (WTW) is expected to gain EU antitrust approval later in June or in early July. It looks as though the remedy package Aon submitted to the European Commission (EC) is ... Read the full article
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