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.
Milliman acquires McHugh Consulting Resources
15th March 2021
Consulting and actuarial firm Milliman has acquired McHugh Consulting Resources, a provider of outsourced insurance compliance and regulatory services. The acquisition will further bolster Milliman's position as a life and health insurance compliance service provider. Milliman's compliance experts work with insurers to draft and develop contracts, complete rate filings, ensure compliance in ... Read the full article
QOMPLX to acquire Sentar Inc.
15th March 2021
Risk analytics provider QOMPLX has entered into an agreement to acquire cyber-intelligence company, Sentar Inc. Sentar will continue to be led by President Darren Kraabel alongside other key management. Bridget McCaleb will continue in a formal capacity leading integration efforts for Sentar during the transition. Sentar and QOMPLX have already begun to ... Read the full article
QOMPLX to develop multi-peril modeling platform
11th March 2021
Risk analytics provider QOMPLX has revealed that it plans to develop a dynamic multi-peril modeling platform following its acquisition of insurance modelling and actuarial platform Tyche. The acquisition of Tyche was announced recently alongside news that QOMPLX has elected to go public via a merger with special purpose acquisition company, ... Read the full article
Assurant to sell Global Preneed to CUNA Mutual Group for $1.3bn
10th March 2021
US specialty insurance group Assurant has agreed to sell its prearranged funeral insurance and final expense business, Global Preneed, to CUNA Mutual Group, a broad financial services provider, for approximately $1.3 billion in cash. The Global Preneed sale is expected to generate $1.2 billion of net proceeds at closing, which is ... Read the full article
ManhattanLife acquires Western Skies MGU
10th March 2021
ManhattanLife Assurance Company of America has bolstered its presence in the self-funded medical stop loss market through the acquisition of Western Skies MGU, a national wholesaler and Program Manager of self-funded medical stop-loss health plans. Western Skies MGU was established in 2019 and is headquartered in Las Vegas. The company has ... Read the full article
Abacai Group acquires Dayinsure
10th March 2021
Abacai Group, a new insurtech firm created by specialist private capital provider Sun Capital Partners and former Aviva CEO Mark Wilson, has acquired Dayinsure to bolster its existing insurance businesses. Founded in 2005, Dayinsure provides temporary motor insurance cover in the UK for car, van, motorhome and business drivers and has ... Read the full article
Aon / WTW: Sources expect Willis Re sale & divestment to near $1.8bn cap
9th March 2021
Aon's pending acquisition of rival Willis Towers Watson (WTW) continues to generate significant chatter in investor and analyst circles, with sources increasingly confident a sale of reinsurance broker Willis Re will be the likely outcome, if remedies are needed to get the merger through. But divestitures are not seen as stopping ... Read the full article
Accelerant acquires CICA from re/insurer Brit
8th March 2021
Accelerant Holdings has announced the acquisition of Commonwealth Insurance Company of America (CICA) from speciality insurer and reinsurer Brit, as well as plans to rename the business as Accelerant National Insurance Company (ANIC). The Accelerant companies form an underwriting group specialising in serving a carefully selected and managed network of members ... Read the full article
SRG to acquire CLS Risk Solutions
8th March 2021
Insurance brokerage Specialist Risk Group (SRG) has entered an agreement to acquire CLS Risk Solutions (CLS RS). CLS RS creates and provides risk solutions for real estate development projects and transactions. With a GWP in excess of £30 million in 2020, CLS RS specialises in renewables, M&A, property development and environmental ... Read the full article
Apollo and Athene announce all-stock merger
8th March 2021
Apollo, the global investment manager and Athene, a retirement services company, have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of roughly $11 billion for Athene. The merger is expected to be substantially accretive and bolster the earnings power of the combined ... Read the full article
Aston Lark acquires Magenta Insurance
8th March 2021
Goldman Sachs backed insurance broker Aston Lark has acquired inet3 Limited, which trades as Magenta Insurance. Magenta Insurance is a Chartered Managing General Agent based in East Anglia providing specialist insurance solutions for non-standard residential property to brokers and IFAs throughout the UK. Peter Blanc, Aston Lark Group CEO, said: “We’ve been ... Read the full article
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
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