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.
Constellation to acquire Ohio National in $1bn transaction
23rd March 2021
US insurance holding company Constellation has entered into an agreement to acquire Ohio National Mutual Holdings and its subsidiary Ohio National Financial Services for a total consideration of $1 billion. The transaction sees Constellation fund cash payments or policy benefits, in the aggregate amount of $500 million, to be paid or ... Read the full article
QOMPLX acquires cybersecurity firm Hyperion Gray
23rd March 2021
Risk analytics provider QOMPLX has closed an acquisition of cybersecurity intelligence firm Hyperion Gray. Hyperion Gray’s team of software engineers, data scientists, and offensive security experts have now joined the QOMPLX team as members of its cybersecurity and analytics teams. “Hyperion Gray’s unique approach to cybersecurity and intelligence furthers QOMPLX’s work for ... Read the full article
The Hartford Board unanimously rejects Chubb acquisition offer
23rd March 2021
After consultation with its financial and legal advisors, The Hartford has announced that its Board of Directors has unanimously rejected re/insurer Chubb's approximately $23.24 billion acquisition offer. Following reports in the media that Chubb had approached carrier The Hartford over a potential acquisition, Chubb later confirmed it had made ... Read the full article
Centauri maintains “A” rating following acquisition by Applied Underwriters
23rd March 2021
The Centauri Specialty and National Insurance Companies have sustained a Financial Stability Rating of "A" (Exceptional) from Demotech following their acquisition by Applied Underwriters. Demotech said its decision followed extensive examinations measuring claims paying ability, financial reserves and overall financial stability. It says the Sarasota-based insurer, with over $200 million in annual ... Read the full article
Fairfax looks to take Singapore Re fully private under 100% ownership
22nd March 2021
Fairfax Asia Limited, the Asian holding company for operating entities of Fairfax Group in the region, has made a voluntary conditional cash offer to acquire all of the issued and paid-up ordinary shares in the capital of Singapore Reinsurance Company Limited. Fairfax, which alongside the concert group currently owns 28.18% of ... Read the full article
Fitch affirms Aon, stays positive on WTW despite merger uncertainty
19th March 2021
Fitch Ratings has affirmed the 'BBB+' Issuer Default Rating (IDR) for Aon and removed its Negative Rating Watch, while maintaining Willis Towers Watson’s 'BBB' Long-Term IDR and issue-level ratings on Rating Watch Positive. This move from the ratings agency is directly linked to the much-talked about combination between the two ... Read the full article
Chubb approaches The Hartford over $23.24bn combination
19th March 2021
Global insurer and reinsurer Chubb has confirmed that it has made an approximately $23.24 billion acquisition offer for The Hartford, valuing the firm at $65 per share. Late yesterday, reports emerged that Chubb was considering the takeover of rival insurer The Hartford. Chubb has now confirmed that on March 11th, it ... Read the full article
CFC acquires Australian cyber security firm Insane Technologies
19th March 2021
Specialist insurer CFC has extended its in-house cyber incident response team with the acquisition of Insane Technologies, an Australian cyber security and incident response provider. With the addition of Insane Technologies, CFC says it has deepened its roster of in-house technical experts. “Like us, Insane have been handling cyber security incidents for ... Read the full article
Chubb eyeing acquisition of rival insurer Hartford, reports
18th March 2021
It appears as though global insurer Chubb could be eyeing a takeover bid for rival carrier Hartford Financial Services, according to reports emerging from Bloomberg. Chubb is led by Chief Executive Officer Evan Greenberg and is reported to be in the process of weighing up an acquisition for a rival currently ... Read the full article
Arch to acquire Westpac Lenders Mortgage Insurance
18th March 2021
The Global Mortgage Group of Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group to acquire Westpac Lenders Mortgage Insurance Limited (WLMI). WLMI is an Australian Prudential Regulation Authority (APRA) authorized captive lenders mortgage insurance (LMI) provider to Westpac. The business had shareholders’ equity of $AUD ... Read the full article
Aston Lark acquires North County Brokers
18th March 2021
Goldman Sachs backed insurance broker Aston Lark has announced its acquisition of North County Brokers. North County Brokers offers independent advice to businesses across a broad range of insurance and risk management services. Initially, the firm will be brought into the Aston Lark Group under Robertson Low as a temporary measure, as ... Read the full article
R&Q raises stake in Tradesman; divests Roosevelt Road Re interest
18th March 2021
Randall & Quilter Investment Holdings Ltd. (R&Q) has reached an agreement to raise its stake in Tradesman Program Managers, LLC, a New York-based Managing General Agent (MGA), from 35% to 40%. R&Q acquired its stake in Tradesman Program Managers in August of last year through the merger of its wholly ... Read the full article
Aon / WTW: Reports suggest US DOJ may have reinsurance concerns
17th March 2021
The pending acquisition of rival Willis Towers Watson (WTW) by its larger rival Aon continues to generate headlines, with recent reports in specialist antitrust publications suggesting concerns from the US government may have a reinsurance focus, as well as in other areas like benefits and large corporate clients. While concerns raised ... Read the full article
Transactional risk insurance hits record high in 2020: Marsh
16th March 2021
A new report from Marsh shows that transactional risk insurance purchases reached a record high in the US and Canada over 2020 despite challenges due to the pandemic. After a dramatic downturn in the second quarter of 2020 due to the coronavirus pandemic, merger and acquisitions (M&A) deal volume soared to ... Read the full article
Applied Underwriters acquires Florida Casualty Insurance Company
16th March 2021
Risk services firm Applied Underwriters has announced the acquisition of Florida Casualty Insurance Company (FCIC), formerly Ashmere Insurance Company. The newly re-branded FCIC is based in Fort Lauderdale and licensed in 41 states. Once approved, the acquisition will form part of Applied Underwriter’s strategy to expand in key US and international markets. "Enterprises ... Read the full article
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