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.
CoreLogic accepts $80 per share acquisition offer
4th February 2021
Property information and analytics provider CoreLogic has accepted an acquisition offer from private equity firms Stone Point Capital and Insight Partners that values the company at $80 per share. CoreLogic has been embroiled in acquisition disputes since July 2020 when it rejected an offer of $65 per share from investors ... Read the full article
AssuredPartners acquires Borland Insurance
4th February 2021
US broker AssuredPartners has successfully acquired Borland Insurance from its founder and Chief Executive Officer John Silcock. Following completion, the business will continue to be led by Silcock, with the intention of using the team’s expertise and networks to drive organic growth of the combined group. The team of 30 will all ... Read the full article
Cyberscout acquired by identity security specialist Sontiq
3rd February 2021
CyberScout, a provider of identity theft resolution, data defense and employee benefits services for the re/insurance industry, is set to be acquired by Sontiq, a portfolio company of The Wicks Group of Companies that specialises in identity security. By acquiring Cyberscout, Sontiq hopes to further expand into the insurance industry with ... Read the full article
2020 US M&A activity up 4.32% over previous year
3rd February 2021
There were 676 mergers and acquisition transactions announced in the US throughout 2020, a 4.32% increase over 2019, according to strategic consulting and advisory firm MarshBerry. MarshBerry itself finished the year having participated in 105 M&A deals, a record year for the firm. It's worth noting that the announced 676 transactions essentially ... Read the full article
Markerstudy Group receives £200mn Pollen Street investment
3rd February 2021
Motor insurer Markerstudy Group has entered into an agreement for a £200 million investment led by Pollen Street Capital. The transaction will see Pollen Street partner with and make a substantial investment alongside the existing founder team, along with QIC who will also participate in the transaction as a strategic partner ... Read the full article
Aon / WTW defend proposed merger after competition concerns raised
29th January 2021
Global re/insurance brokers Aon and Willis Towers Watson (WTW) have cited a range of competitive dynamics in defence of their proposed combination; after the New Zealand (NZ) Commerce Commission's Statement of Issues (SOI) and subsequent responses highlighted some potential concerns. Ahead of an expected completion date sometime in the first-half of ... Read the full article
Charles Taylor acquires Otak’s remaining stake
29th January 2021
Technology solutions provider Charles Taylor has acquired the remaining minority stake in Otak, an insurance technology platform business specialising in delegated authority solutions. With this acquisition, it moves to full ownership of Otak and its product Tide, from owning a controlling majority stake previously. Tide is cloud-based data streamlining solution that was ... Read the full article
Apax Partners acquires PIB Group
29th January 2021
Apax Partners has acquired independent specialist insurance intermediary PIB Group, alongside its management team. Funds advised by The Carlyle Group, PIB’s existing investor since 2015, will re-invest for a minority stake, although the financial terms of the transaction were not disclosed. PIB’s executive management team, led by Chief Executive Officer Brendan McManus ... Read the full article
MassMutual to acquire Great American Life for $3.5bn
29th January 2021
Mutual life insurer MassMutual has announced plans to acquire Great American Life Insurance Company from American Financial Group for $3.5 billion. MassMutual will acquire the annuity business, as well as other subsidiaries and affiliated entities, which primarily offer traditional fixed and fixed indexed annuity products. The transaction is expected to close in ... Read the full article
Jackson to separate from Prudential in Q2 demerger
28th January 2021
UK insurer Prudential has announced that its US business, Jackson National Life (Jackson), will fully separate from the group via a demerger in the second quarter of 2021. The demerger, also known as a spin-off in the US, will lead to a significantly earlier separation of Jackson than would have been ... Read the full article
Aon / WTW unveil new Executive Committee for combined entity
27th January 2021
Ahead of the proposed combination of global insurance and reinsurance brokerages, Aon and Willis Towers Watson (WTW), the companies have announced the new leadership team, led by Greg Case as Chief Executive Officer (CEO). It was confirmed in March of 2020 that the pair had reached an agreement to combine ... Read the full article
Allstate agrees to sell life insurance arm to Blackstone for $2.8bn
27th January 2021
U.S. primary insurance carrier, The Allstate Corporation, has reached an agreement to sell Allstate Life Insurance Company (ALIC) and certain subsidiaries to entities managed by private equity investment giant, Blackstone, for $2.8 billion. Currently, ALIC holds around 80%, or $23 billion of Allstate's life and annuity reserves and in 2019, generated ... Read the full article
Bermuda re/insurers “ripe for take over,” says Fitch
26th January 2021
Analysts at Fitch Ratings believe that certain companies in the Bermuda re/insurance market are “ripe for take over” despite muted M&A market conditions. The rating agency noted that activity in the Bermuda M&A market has been comparatively low in recent months due to the improved pricing environment, which is placing more ... Read the full article
Skyward Specialty acquires Aegis Surety & sells XPro in agreements with K2
26th January 2021
Specialty property and casualty (P&C) insurer, Skyward Specialty Insurance Group, Inc., has acquired Aegis Surety from K2 Insurance Services, which in turn has acquired the firm's XPro business. Trevor Hash, Aegis Surety Senior Vice President, will become the Head of Contract Surety, reporting to Skyward Specialty’s Head of Surety, Matthew Semeraro. "Combining ... Read the full article
Marco appoints Zsolt Szalkai to lead M&A efforts
25th January 2021
European property and casualty specialist Marco Capital has named Zsolt Szalkai managing director, head of mergers and acquisitions. Szalkai joins from Premia, where he most recently served as president of its European operations. He will also become a member of Marco's executive management team. Prior to Premia, Szalkai spent eight years at DARAG working as ... Read the full article
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