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.
Hudson Structured to take majority stake in Southern Fidelity
3rd November 2020
Hudson Structured Capital Management Ltd. (HSCM Bermuda), the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, has announced plans to take a majority ownership of Southern Fidelity Insurance Company (SFIC). In exchange for its majority stake, HSCM Bermuda will provide a capital injection into SFIC. HSCM Bermuda will also take an ... Read the full article
Apollo sees major property cat opportunities in Pelican, JC Flowers partnership
3rd November 2020
Independent specialist re/insurer Apollo Syndicate Management has underlined the opportunities it sees in the property catastrophe reinsurance space, ahead of its operational partnership with Pelican Ventures and J.C. Flowers & Co. It was announced yesterday that Argo had reached an agreement for the two private equity investors to acquire its ... Read the full article
MNK Re to acquire majority stake in Prospect Brokers Africa
3rd November 2020
Specialty Lloyd’s broker MNK Re is set to acquire a majority stake in Prospect Brokers Africa, an independent South African reinsurance broker. Prospect Brokers was established in December 2019 by former RFIB Africa director Neesha Parbhoo. The company specialises in reinsurance, wholesale insurance and binding authorities placed into regional and international markets. This ... Read the full article
Arch steps up Watford pursuit with Enstar-backed revised offer
2nd November 2020
Arch Capital and Watford Holdings have agreed a revised acquisition agreement that would see Arch purchase Watford at an increased price of $35 per share, or approximately $700 million. It's worth noting that 9.1% shareholder Enstar has entered into a voting support agreement with Watford and Arch, committing to vote all of ... Read the full article
Argo agrees Ariel Re sale to Pelican Ventures, JC Flowers
2nd November 2020
Argo Group has reached an agreement with Pelican Ventures and J.C. Flowers & Co that will see the two private equity investors acquire property and casualty reinsurance underwriter Ariel Re for an undisclosed sum. Terms for an operational partnership with Apollo Syndicate Management have been also agreed upon. The partnership will be ... Read the full article
CoreLogic in acquisition talks after $80 per share offers
28th October 2020
Property information and analytics provider CoreLogic has confirmed that it is in talks with third parties after reports suggested it had received multiple acquisition offers valuing the company at or above $80 per share. This development may put an end to the ongoing saga between CoreLogic and investors Senator and Cannae, ... Read the full article
Hastings gets approvals for acquisition deal
28th October 2020
UK-based property and casualty (P&C) insurer, Hastings Group Holdings plc, has received approval from shareholders and regulators to proceed with its acquisition by Sampo Oyj and Rand Merchant Investment Holdings Limited (RMI). Back in August, Finnish insurer Sampo Oyj and South Africa’s RMI agreed to acquire all of Hastings’ issued ... Read the full article
Venerable reaches $12bn annuity reinsurance agreement with Equitable
28th October 2020
Venerable Holdings has agreed to reinsure $12 billion of legacy variable annuity business from Equitable Financial Life Insurance Company. As part of the transaction, Venerable will also acquire Corporate Solutions Life Reinsurance Company, a Delaware domiciled variable annuity reinsurance company that has been in run-off since 2002. Overall, the deal will more ... Read the full article
Aegon reportedly looking at sale of Eastern European business
27th October 2020
Aegon, a provider of life insurance, pensions and asset management, is considering a sale of its Eastern European business, according to reports from Reuters. Sources say the company is working with JP Morgan on the process and has already entered talks with potential buyers. The reasoning behind a sale would be to ... Read the full article
Coverys finalises acquisition of Bridge
26th October 2020
Coverys European Holdings (CEH) has announced that the acquisition of Bridge Insurance Broker, a Lloyd’s wholesale broker and coverholder, has been completed. Bridge, which is based in Italy, will provide a full suite of property, casualty and specialty insurance products, as well as claims management services. The Italian agency manages some ... Read the full article
Macif, Generali & CVC to join bidding war for Aviva’s French business
26th October 2020
Reports suggest that mutual insurer Macif and a consortium consisting of Generali and investment firm CVC Capital Partners are readying their bids for an acquisition of Aviva’s business in France. Last month, sources at Reuters said a consortium of Allianz and life re/insurer Athora Holding were in talks to takeover ... Read the full article
M&A markets sees first positive performance in years: WTW
26th October 2020
New data from re/insurance broker Willis Towers Watson (WTW) shows that the global mergers and acquisitions (M&A) insurance market recorded its first positive performance in three years for completed deals. The market performed well despite the impact of the COVID-19 pandemic on deal-making during 2020, but WTW says that its data ... Read the full article
Sun Life takes majority stake in Credit Capital Group
23rd October 2020
Sun Life Financial Inc., the Canadian financial services and life insurance company, has revealed plans to acquire a majority stake in global alternative credit investment manager Crescent Capital Group LP. Headquartered in Los Angeles with offices in New York, Boston and London, Crescent has more than 180 partners and employees and ... Read the full article
Pioneer agrees terms for Russell Coward acquisition
23rd October 2020
Pioneer Underwriting Holdings has signed terms for a deal that will see Pioneer and its subsidiaries acquired by Russell Coward, currently Pioneer’s Head of Risk & Compliance and Company Secretary. This transaction follows an agreement with K2 to transfer the 4 ongoing underwriting units and the separate transaction to divest ... Read the full article
UK & EU regulators wrestle for oversight of Aon / WTW merger: reports
20th October 2020
British and European Union regulators are reportedly debating which authority will have oversight of some of Europe's largest mergers ahead of a Brexit trade deal deadline in December, including the planned combination of re/insurance brokers Aon and Willis Towers Watson (WTW). A Financial Times article, citing people briefed on the issue, ... Read the full article
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