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.
HCI acquires personal lines business from United (UPC)
17th December 2020
Florida-based insurtech HCI Group has agreed to acquire personal lines insurance business in four northeastern US states from P&C insurer United Insurance Holdings Corp. (UPC). Under the agreement, HCI will provide 69.5% quota share reinsurance on all of United’s in-force, new and renewal policies in Connecticut, Massachusetts, New Jersey, and Rhode ... Read the full article
Aon / WTW divestitures would reduce benefits of merger: KBW
16th December 2020
Following reports that regulators may investigate the merger deal between Aon and Willis Towers Watson (WTW) on anti-trust grounds, analysts at KBW have warned that any resulting divestitures could reduce the benefits of the combination. Sources at Reuters said yesterday that a full-scale review into the $30 billion Aon / ... Read the full article
EU to investigate Aon / WTW merger: reports
15th December 2020
The huge merger deal between brokers Aon and Willis Towers Watson (WTW) is set to undergo an in-depth probe by European Union (EU) regulators due to its complexity, sources have told Reuters. According to these inside sources, the $30 billion deal faces a full-scale review once the European Commission’s preliminary ... Read the full article
LV= in £530mn sale to Bain Capital
15th December 2020
Liverpool Victoria Financial Services (LV=) has reached an agreement to sell itself to private investment firm Bain Capital for £530 million. The acquisition is expected to be completed by the end of 2021 and is subject to the conclusion of the legal process. Alan Cook, Chairman of LV= said its board recognised ... Read the full article
Aon buys 49% stake in Indian broker Anviti
14th December 2020
Global re/insurance broker Aon has acquired a 49% equity stake in Anviti, an India-based provider of reinsurance, insurance broking & risk management insurance services. It's hoped this strategic investment will enable Anviti, a company promoted by institutional investor Catamaran Ventures, to bolster its operations in the country while leveraging support from ... Read the full article
Aviva to sell Vietnam business to Manulife
14th December 2020
London-headquartered insurer Aviva has agreed to sell its life insurance business in Vietnam to Manulife. Aviva Vietnam will be sold for an all cash consideration in a transaction that’s expected to increase the company’s IFRS Net Asset Value and Solvency II surplus by around £100 million. As part of the deal, Manulife ... Read the full article
MetLife agrees $3.9bn sale of US P&C business to Zurich
11th December 2020
Life insurer MetLife has reached an agreement with Zurich, via its subsidiary Farmers Group, over the $3.94 billion sale of its US property and casualty business. This deal, initially reported in November, will see Farmers Group jointly acquire MetLife Auto & Home with the Farmers Exchanges, a group of three ... Read the full article
Oswald and RCM&D launch Unison Risk Advisors
11th December 2020
Independent re/insurance brokerage and risk advisory firms, Oswald Companies and RCM&D, have agreed to strategically merge and launch Unison Risk Advisors. Both firms plan to maintain their independent brands, operations and management, while merging under the umbrella of Unison Risk Advisors, dba of JBO Holding Company, to expand service capabilities and ... Read the full article
Travelers acquires InsuraMatch from Plymouth Rock
9th December 2020
The Travelers Companies has entered an agreement to acquire insurance company InsuraMatch from the Plymouth Rock Group. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2021. The terms of the transaction were not disclosed. InsuraMatch focuses primarily on personal insurance, and offers ... Read the full article
Beach & Associates rebranded to Acrisure
8th December 2020
Beach & Associates, the reinsurance brokerage arm of Acrisure, is to be rebranded as Acrisure Re and Acrisure London Wholesale, the company has announced. The rebrand comes as part of Acrisure’s increasing focus on technology and artificial intelligence, and follows the recent acquisition of AI firm Tulco’s insurance assets. Beach was originally ... Read the full article
GIG under review following AXA acquisition
8th December 2020
AM Best has placed insurance group Gulf Insurance Group (GIG) and its subsidiary Gulf Insurance and Reinsurance Company under review with developing implications of their Financial Strength Rating of A (Excellent). The rating agency’s actions follows GIG’s acquisition of AXA's insurance operations in the Gulf region for $475 million. Last week, ... Read the full article
MMA acquires Heritage Insurance Service in Kentucky
7th December 2020
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has announced the acquisition of Heritage Insurance Service, Inc., an independent agency in Louisville, Kentucky. Established in 1974, Heritage provides business, auto, and home insurance services and solutions, with specialized expertise in the trucking and transportation industry. The company ... Read the full article
CRC set to acquire Continental Underwriters
7th December 2020
Specialty insurer CRC Group has reached an agreement to acquire Continental Underwriters, a provider of primary marine, excess marine liabilities, ocean cargo, and inland marine insurance. The acquisition is expected to close later this year and will see Continental become part of CRC Group’s Programs Division. CRC Group and Continental Underwriters will ... Read the full article
BMS Iberia acquires Spanish broker
4th December 2020
Re/insurance broker BMS Group’s Spanish subsidiary, BMS Mediación Iberia Correduría de Seguros y Reaseguros, has acquired insurance broker Montymarq Asociados Consultores y Corredores de Seguros. Based in Malaga, Montymarq specialises in business, professional and affinity risks in Spain. BMS has acquired Montymarq in full. The staff of Montymarq will join the BMS ... Read the full article
Marsh & McLennan Agency acquires INSPRO
4th December 2020
Marsh's marketing agency subsidiary, Marsh & McLennan Agency, has acquired INSPRO, an independent agency in Nebraska. INSPRO was first established over 8 years ago and provides business insurance, employee benefits, and personal lines insurance services to individuals, families, and SME’s throughout the region. INSPRO’s 138 colleagues will join MMA and continue to ... Read the full article
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