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.
Crawford & Company acquires HBA Group
9th November 2020
Crawford & Company, a provider of claims management solutions, has announced the acquisition of Australia-based HBA Group as part of the continuing expansion of its Crawford Legal Services (CLS) in the UK and globally. HBA Group comprises HBA Legal, a legal services enterprise which partners with underwriters, brokers, insurers and self-insured ... Read the full article
Investors press CoreLogic to run auction process
6th November 2020
TIG Advisors, a major investor in property information and analytics provider CoreLogic, has written to the firm’s board urging it to immediately run an auction process for the sale of the company. CoreLogic has already been at the centre of a months-long battle with investors Senator and Cannae, who have ... Read the full article
Coverys European Holdings acquires Lloyd’s Gava S.R.L
6th November 2020
Coverys European Holdings subsidiary, AEC Wholesale Group (CEH), has announced the acquisition of Gava S.R.L, a Lloyd’s coverholder. AEC Group will assume 100% ownership of Gava, bringing the Italian Lloyd’s coverholder into its existing network of specialist liability insurance intermediaries. Gava underwrites professional lines risks for both private and public bodies throughout ... Read the full article
RSA comments on £7.2bn takeover proposal from Intact & Tryg
6th November 2020
The Board of RSA Insurance Group has confirmed that the UK insurer has received a proposal from a consortium comprised of Intact Financial Corporation and Tryg A/S regarding a possible offer for the company. The proposal includes 685 in cash per RSA share, alongside payment by RSA of the announced interim ... Read the full article
Canadian Premier finalises takeover of Gerber Life’s Canadian insurance unit
4th November 2020
Canadian Premier Life Insurance Company has wrapped up its acquisition of Gerber Life Insurance's Canadian business. With the deal now finalised, Gerber Life’s Canadian policies are now fully assumed by Canadian Premier. As explained previously, the block of Canadian life insurance business is marketed under the Gerber Life brand and includes ... Read the full article
Premia selects Phinsys to manage the migration of its Lloyd’s transactions
4th November 2020
Finance automation software provider for the insurance industry, Phinsys, has announced that Premia Managing Agency Ltd has selected the firm to support its Lloyd’s of London run-off business. Premia will be implementing Phinsys products Tandem, Rapport and Inform to manage the migration of its Lloyd’s transactions. Tandem is a source-agnostic finance data ... Read the full article
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
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