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.
Indian regulator rejects ITI Reinsurance acquisition proposal
4th December 2018
The Insurance Regulatory Authority of India (IRDAI) has rejected a proposal from Go Digit General Insurance Ltd to acquire the two-year-old Indian reinsurer ITI Reinsurance from its current owners, due to a number of issues that violate regulations. Go Digit, which is owned by Indo-Canadian billionaire Prem Watsa, signed a deal ... Read the full article
The Hartford acquires specialist MGU Y-Risk
4th December 2018
Property and casualty insurer the Hartford has announced the purchase of Y-Risk, a managing general underwriter (MGU), from Allstar Financial Group. Y-Risk offers products for the sharing and on-demand economy, with tailor-made coverages and usage-based pricing for commercial auto, general liability, property, inland marine, cyber and professional liability. The firm delivers its ... Read the full article
Verisk to acquire Rulebook for $87mn
3rd December 2018
Data analytics provider Verisk has signed a definitive agreement to acquire Rulebook, a provider of business intelligence and software solutions for the London Insurance Market. The reported purchase price is $87 million in cash, funded through cash on hand and existing bank facilities, with the deal expected to close in the ... Read the full article
Arthur J. Gallagher acquires IBS Re Singapore, takes stake in Indonesian broker
3rd December 2018
Arthur J. Gallagher & Co., the U.S. global insurance brokerage and risk management services firm, has acquired 100% of reinsurance broker IBS Re Singapore, in addition to taking a 40% stake in Indonesian broker PT IBS Insurance Broking Service. Based in Jakarta, PT IBS Insurance Broking Service has revenues of over ... Read the full article
AmTrust completes $3bn go-private merger deal with Evergreen
29th November 2018
AmTrust Financial Services, Inc. has completed its previously announced $2.95 billion merger deal with Evergreen Parent L.P., which will see the company go private. Evergreen is an entity formed by private equity funds managed by Stone Point Capital LLC, together with Barry Zyskind, Chairman and Chief Executive Officer (CEO) of ... Read the full article
AmTrust gets regulatory go-ahead for Evergreen merger deal
28th November 2018
AmTrust Financial Services, Inc. has received all necessary regulatory approvals to go ahead with the completion of its previously announced merger deal with Evergreen Parent, L.P., which will see the company go private. Evergreen is an entity formed by private equity funds managed by Stone Point Capital LLC, together with Barry ... Read the full article
Arthur J. Gallagher acquires two California-based P&C brokers
27th November 2018
U.S. global insurance brokerage and risk management services firm Arthur J. Gallagher & Co. has expanded its presence in California with the acquisition of property and casualty (P&C) brokers Buckman-Mitchell, Inc. and R.T. Beers & Company Insurance Services, Inc. Buckman-Mitchell is a retail P&C and employee benefits agency and consultant that ... Read the full article
AXA acquires remaining €584m stake in Chinese joint P&C venture
27th November 2018
French insurance and investment giant AXA has purchased the remaining 50% of Chinese property and casualty (P&C) insurer AXA Tianping that it did not previously own in a €584 million transaction. This deal follows yesterday’s announcement that Allianz had received approval from the China Banking and Insurance Regulatory Commission for the ... Read the full article
Zurich CEO Greco denies acquisition rumours
26th November 2018
Mario Greco, Chief Executive Officer (CEO) of Zurich Insurance Group, has denied rumours that the company would consider a takeover bid from another large re/insurer or tech firm, according to Finews. Speaking at a recent conference event hosted by Handelsblatt in Munich, Greco reportedly said that a cross-border, transforming transaction would ... Read the full article
Sun Life a contender in multi-billion dollar FTLife sale
22nd November 2018
Sun Life Financial Inc., the Canadian financial services and life insurance company, is reportedly vying to acquire Hong Kong insurer FTLife Insurance Co. in a deal that could value more than $3 billion, according to sources at Bloomberg. Sun Life is said to be competing in a second round of bidding ... Read the full article
DARAG acquires SOBC Services, takes on four in run-off insurers
20th November 2018
DARAG Guernsey has announced that its wholly owned subsidiary, SOBC DARAG Holdings Ltd, has now acquired the entire share capital of SOBC Services in an agreement that will also see it take on four in run-off U.S carriers and a Bermuda-based cell. The announcement follows the formation of SOBC DARAG ... Read the full article
AXA XL acquires full ownership of New Ocean Capital Management
19th November 2018
AXA XL has announced that its reinsurance operation has acquired all third-party ownership interests in New Ocean Capital Management Limited, its majority-owned ILS fund management platform. XL Group founded New Ocean in July 2013 in partnership with private equity fund Stone Point Capital, and later with Japanese conglomerate, Mitsui & Co., Ltd. Having ... Read the full article
Helios to acquire Advantage DCP for up to £1.9mn
16th November 2018
Helios Underwriting plc has revealed plans to acquire Advantage DCP Limited, a limited liability member of Lloyd’s, for a consideration of up to £1.91 million. This consideration could be reduced to £1.66 million dependent on the deterioration of the current 2017 midpoint forecast for Advantage and the final result of that ... Read the full article
Current M&A trends benefit mid-sized players like CCR Re, says CEO Labilloy
15th November 2018
Current mergers and acquisitions (M&A) trends in the re/insurance industry are creating more space for pure reinsurers and medium players like CCR Re to offer improved services to clients, according to Bertrand Labilloy, Chief Executive Officer (CEO) of CCR, the state-back French reinsurer. Speaking in an interview with Reinsurance News, Labilloy ... Read the full article
Markel completes Nephila acquisition
15th November 2018
Markel Corporation has successfully completed its previously-announced its acquisition of Nephila Holdings Limited, the largest manager of catastrophe and weather insurance and reinsurance linked investment funds in the world. Nephila manages $12.2 billion of assets under management (AuM) for a geographically diverse investor base of more than 300 investors. The ... Read the full article