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.
DARAG acquires Bermuda-based SunPoint Holdings
8th March 2021
Legacy acquirer DARAG has announced the acquisition of SunPoint Holdings, a Bermuda-based company intended to act as a platform for further expansion. SunPoint offered reinsurance and run-off solutions to US and Bermuda insurers from 2017 to 2019. The portfolio consisted of General Liability, Construction Defect, New York Labor Law, and Workers’ Compensation ... Read the full article
Munich Re to acquire third party administrator GroupHEALTH
8th March 2021
Munich Re, via its subsidiary Munich Re New Ventures (MRNV), has announced plans to acquire Group Health Group Holdings, Inc. (GroupHEALTH), one of the largest third party group insurance administrators in Canada. MRNV will increase its stake in GroupHEALTH from its existing 40% interest to owning 100% of the company. Following the ... Read the full article
KKR to buy majority stake in Integrated Specialty Coverages
8th March 2021
Multi-line insurance distributor Integrated Specialty Coverages (ISC) is set to be acquired by global investment firm KKR, following Sightway Capital’s decision to sell its majority position in the company. Sightway Capital, a Two Sigma private equity business, will continue holding a stake in the company as a minority shareholder. Financial terms ... Read the full article
Amwins bolsters US presence with Worldwide Facilities takeover
5th March 2021
Amwins Group, Inc., the global distributor of specialty insurance solutions and services, has entered into a definitive agreement to acquire the fourth-largest U.S. wholesale brokerage, Worldwide Facilities. Scheduled to close in April of this year, the acquisition stands to bolster Amwins' presence in the U.S. and reinforce its position as a ... Read the full article
Aston Lark to acquire Venture Insurance Brokers
5th March 2021
Chartered insurance broker Aston Lark has announced the acquisition of Bristol-based Venture Insurance Brokers. Venture Insurance offers traditional insurance advice to both businesses and individuals and advises on business risks across every sector. The business has specialist expertise in Professional Indemnity insurance, property management, haulage, small business solutions and also risk management. “From ... Read the full article
Scott Egan to remain as RSA UK&I CEO following Intact acquisition
5th March 2021
RSA UK & International, a division of RSA Insurance Group plc, will continue to be led by Scott Egan as Chief Executive Officer (CEO) following the completion of the insurer's proposed acquisition by Intact Financial Corporation and Scandinavian insurer Tryg. After finalising a $3.2 billion capital raise ahead of its ... Read the full article
Crum & Forster receives Monitor Life acquisition approval
5th March 2021
Crum & Forster Accident & Health has received regulatory approval on its acquisition of Monitor Life which started at the end of last year. The acquisition of Monitor Life, previously a wholly owned subsidiary of AmFirst Insurance Company, has authority to operate in 27 states and the District of Columbia. C&F is ... Read the full article
CoreLogic asks CoStar to further increase takeover bid
4th March 2021
Property information and analytics provider CoreLogic has written to CoStar asking the company to increase the value of its acquisition offer even further, after confirming earlier this week that CoStar had upped its bid. CoStar has offered to pay CoreLogic shareholders $6.00 per share in cash, in addition to its ... Read the full article
Hippo to go public following Reinvent merger
4th March 2021
California-headquartered, homeowners focused-insurtech Hippo is set to go public following a merger with Reinvent Technology Partners, a special purpose acquisition company. The transaction is expected to close in mid-2021 and will see the new company have approximately $1.2 billion in cash at closing, including up to approximately $230 million of cash ... Read the full article
Allianz to acquire the Italian P/C entity of Aviva
4th March 2021
Global insurer Allianz is set to acquire Aviva Italia S.p.A., the Italian P/C entity of Aviva Group, for €330 million. Aviva expects to use the increased capital and cash to support its previously announced capital framework of debt reduction, investment for long-term growth and return of excess capital to shareholders. The portfolio ... Read the full article
Aon / WTW combination subject to EU antitrust warning, says Reuters
3rd March 2021
Insurance and reinsurance broker Aon's proposed $30 billion merger with Willis Towers Watson (WTW) is to be subject to an EU antitrust warning unless the company offers concessions, according to Reuters. After confirming in December 2020 that it would conduct an in-depth investigation of the transaction, noting concerns it could ... Read the full article
Verisk’s Sequel to acquire, invest in Whitespace
3rd March 2021
Whitespace Software, a provider of digital placing technology to the re/insurance market, has signed an investment and acquisition agreement with Verisk business Sequel in an effort to accelerate growth. Whitespace is designed to provide market participants with a scalable digital placing platform capable of enabling customers to adopt a more efficient ... Read the full article
Aston Lark acquires Scottish broker Bruce Stevenson
3rd March 2021
Aston Lark, a chartered insurance broker backed by Goldman Sachs, has acquired Bruce Stevenson, a Scotland-based insurance broker. Bruce Stevenson was established almost 40 years ago and is the largest independent insurance broker in Scotland. The company provided specialist products and services to both commercial and private clients across the UK, with ... Read the full article
QOMPLX to combine with Tailwind Acquisition Corp
2nd March 2021
QOMPLX, a cloud-native leader in risk analytics, has elected to go public via a merger with special purpose acquisition company, Tailwind Acquisition Corp. Once the combination completes, the new company will operate as QOMPLX and plans to list under the symbol of QPLX. The deal reflects an estimated post-transaction equity value ... Read the full article
CoStar ups takeover bid for CoreLogic
2nd March 2021
Property information and analytics provider CoreLogic has confirmed that CoStar has increased the terms its takeover bid, after putting forward an unsolicited bid last month. CoStar has now offered to pay CoreLogic shareholders $6.00 per share in cash, in addition to its previous offer of 0.1019 shares of CoStar Group ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
