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.
HW Kaufman acquires cyber MGA Node International
30th September 2019
HW Kaufman Group, the parent company of wholesale brokerage and managing general underwriter Burns & Wilcox has acquired Node international, a managing general agent focused on cyber-risk and technology-related insurance solutions. The deal marks the group’s 20th acquisition in nine years and has been described by Chairman, President and Chief Executive ... Read the full article
More industry change in next three years than previous 30, says Hearn
27th September 2019
Chief Executive Officer for BGC Insurance Group, Steve Hearn, is anticipating more change to take place across the re/insurance industry in the next three years than in the previous 30. Speaking recently with Reinsurance News, Hearn added that after 330 years in existence, the industry is undergoing massive, technology-driven changes to ... Read the full article
Risk Strategies acquires safety management firm Pro Safety Services
26th September 2019
US insurance brokerage and risk management firm Risk Strategies has announced that it plans to acquire Pro Safety Services, LLC, a provider of safety and loss control services to construction companies, builders, and other industries. Founded in 1999 by its current president John McCarthy, Pro Safety Services offers a range of ... Read the full article
AXA XL promotes two underwriters within M&A insurance team
26th September 2019
Global re/insurer AXA XL has promoted Michelle Jensen and Pietro Tarone to the roles of senior underwriter and underwriter, within its mergers and acquisitions insurance team, respectively. The promotions of Jensen and Tarone, both of whom will be based in New York, reflect AXA XL’s continued focus on M&A insurance solutions. Jensen ... Read the full article
Everest Insurance announces buyout of Salus Systems
26th September 2019
Everest Insurance, a division of global reinsurer Everest Re Group, has purchased the remaining shares of its joint venture partner Salus Systems. Salus was founded in 2017 and develops and markets ZERO, a collaborative safety management platform for the insurance industry. The interactive platform is designed to enrich the safety environment of ... Read the full article
Price Forbes acquires stake in HK broker Sino
25th September 2019
Independent Lloyd's of London insurance broker Price Forbes has purchased a minority stake in Hong Kong-based Sino Insurance and Reinsurance. Since its founding in 2006, Sino has focused on providing risk management and insurance solutions for Chinese multinational companies’ overseas investments and infrastructure construction, engineering, project management, and various aspects of ... Read the full article
Allianz, MS&AD in mix to buy Aviva’s Asian operations, reports
24th September 2019
Reports have emerged from Reuters claiming that Allianz, Nippon Life and MS&AD are among a dozen companies are actively looking to purchase the Asian operations of UK insurer Aviva. Aviva confirmed earlier this year that it was examining options for a sale of the business as part of a new strategy ... Read the full article
Monument Re completes purchase of Irish insurer Inora Life DAC
24th September 2019
Monument Re has through its European subsidiary Laguna Life d.a.c completed its acquisition of Inora Life DAC, a life insurer domiciled in Ireland, from its owner Societe Generale. Inora Life ceased all new activity in 2012 but still manages a portfolio of unit-linked insurance products. “The acquisition of Inora aligns with our ... Read the full article
Greenlight Re Innovations invests in API-based commercial insurer
19th September 2019
Greenlight Re Innovations, a division of specialist hedge fund-backed property and casualty reinsurer Greenlight Capital Re, has invested in Coterie Applications, a digital managing underwriter focused on the SME commercial insurance market. Greenlight Re Chief Executive Officer Simon Burton explained that the SME commercial space in the US has not yet ... Read the full article
Charles Taylor to accept “compelling” acquisition offer
19th September 2019
Insurance service provider Charles Taylor is expected to accept a £261 million acquisition offer from Jewel Bidco, a company formed on behalf of funds advised by Lovell Minnick Partners LLC and its affiliates. The boards of LMP Bidco and Charles Taylor have reached an agreement on terms that will be put ... Read the full article
Alliant forms new M&A unit, led by Jonathan Gilbert
16th September 2019
Alliant Insurance Services has announced the formation of a new brokerage service vertical that will provide expertise to private equity firms and alternative asset investors. The unit, called Alliant Mergers & Acquisitions, will be led by Senior Vice President Jonathan Gilbert. “In the last decade, there has been considerable investment by private ... Read the full article
Davies Group in first US claims deal with Frontier acquisition
13th September 2019
Operations management, consulting and provider of digital solutions, Davies Group, has announced the acquisition of multi-line independent claims adjusting provider, Frontier Adjusters. The deal is Davies Group's fourth acquisition of 2019 and its first U.S. claims deal. The acquisition sees Frontier form the independent adjusting arm of Davies' new US Claims ... Read the full article
RSA combines CRS & GRS units into single commercial division
13th September 2019
RSA UK and International has merged its Commercial Risk Solutions (CRS) and Global Risk Solutions (GRS) businesses to create a single unit focused on commercial lines. As part of the merger, CRS Managing Director Rob Gibbs has been appointed to the role of MD, RSA Commercial Lines with immediate effect. Meanwhile, Tony ... Read the full article
Howden & RKH brokerages to be merged by Hyperion
12th September 2019
Hyperion Insurance Group, the global independently owned insurance and reinsurance broking and underwriting organisation, is merging its two broker arms Howden and RKH. Hyperion said that aligning the two broking operations under a single management will "deliver seamless access to the Group’s talent for clients" by bringing together Howden’s international retail ... Read the full article
Prudential set to acquire insurtech Assurance IQ
8th September 2019
US insurance and investment firm Prudential Financial has agreed to acquire Assurance IQ, an insurtech firm that matches buyers with customised insurance solutions. The transaction includes a total upfront consideration of $2.35 billion, plus an additional earnout of up to $1.15 billion in cash and equity, contingent upon Assurance achieving certain ... Read the full article