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.
Aon & WTW disclose more on combination to fend off legal challenges
4th August 2020
In an effort to ward off legal challenges delaying Aon's combination with Willis Towers Watson (WTW), the global re/insurance broker has disclosed some additional details associated with the deal. After weeks of speculation, Aon confirmed in March of this year that it will combine with rival broker WTW through a ... Read the full article
Munich Re’s ERGO gets green light for Taishan investment
4th August 2020
The European Commission has approved a strategic investment by ERGO, the primary insurance arm of reinsurer Munich Re, in Shandong-based nationwide property and casualty (P&C) insurer, Taishan Property & Casualty Insurance Co., Ltd. As we wrote in early June, ERGO announced plans to bolster its P&C services in the Chinese ... Read the full article
Aston Lark acquires specialist intermediary PHM
4th August 2020
Chartered insurance broker, Aston Lark, has announced the acquisition of Private Healthcare Managers (PHM) Limited. The company says this new move will boost the broker's employer benefits offering. PHM looks after SME and corporate clients with around £4 million in gross written premium (GWP) per annum across its portfolio. The service is ... Read the full article
TigerRisk wraps up strategic investment from Flexpoint Ford
3rd August 2020
Insurance and reinsurance brokerage TigerRisk Partners has finalised its investment from Flexpoint Ford, a private equity firm specialising in the financial services and healthcare industries. Flexpoint Ford has completed numerous investments in the insurance industry across P&C carriers, insurance distribution, and claims adjusting since its inception in 2005. This deal with TigerRisk was ... Read the full article
Aon sees Willis Re as complementary, divestiture unnecessary: Execs
31st July 2020
Aon's senior leadership, including CEO Greg Case, explained today during a quarterly earnings call that the company isn't expecting to need to divest significantly, as it combines with Willis Towers Watson (WTW) when the acquisition is realised. Case, the Chief Executive Officer of insurance and reinsurance broker powerhouse Aon, said before ... Read the full article
Hastings Group confirms acquisition approach
31st July 2020
Hastings Group has been approached by Finnish insurer Sampo Oyj and South Africa’s Rand Merchant Investment Holdings Limited over a potential acquisition of the UK motor insurer. RMI currently holds a 30% stake in the company. Hastings has established an independent committee comprising the full Board of Hastings excluding Herman Bosman, the ... Read the full article
Genworth posts $441m Q2 loss, gives update on China Oceanwide merger
30th July 2020
Mortgage insurer Genworth Financial has reported a net loss of $441 million in the second quarter of 2020, compared with net income of $168 million the the prior year quarter. The company recently reached a settlement agreement with AXA regarding a dispute over payment protection insurance claims underwritten by the company's ... Read the full article
Investors Senator & Cannae move to oust CoreLogic board
29th July 2020
Senator Investment Group LP and Cannae Holdings Inc. have initiated a process to call a special meeting of shareholders with the aim of removing and replacing a majority of the board members of property information and analytics provider CoreLogic. The move comes after CoreLogic’s board unanimously rejected an offer from ... Read the full article
Davies acquires Citadel Risk’s captive management operations
29th July 2020
Leading specialist professional services and technology firm, Davies, has announced a deal to acquire the captive management & consulting businesses of insurance and reinsurance specialist, Citadel Risk. Citadel Management & Cedar Consulting will become part of Davies’ Insurance Services practice under the new deal, which is led by CEO Steven Crabb. ... Read the full article
Majesco agrees to be acquired by Thoma Bravo
29th July 2020
Majesco shareholders are set to receive $13.10 in cash per share as the company will be acquired by Thoma Bravo. Majesco, a global leader of cloud insurance software solutions for insurance business transformation, has signed a definitive agreement to be acquired by Thoma Bravo, L.P., one of the worlds leading private ... Read the full article
Swiss Re completes sale of ReAssure to Phoenix Group
23rd July 2020
Global reinsurance giant Swiss Re has announced the completion of the sale of its ReAssure Group plc subsidiary to Phoenix Group Holdings plc, following the receipt of all regulatory and antitrust approvals. As previously announced, Swiss Re received a cash payment of £1.2 billion and shares in Phoenix representing a ... Read the full article
Aquiline closes investment in Dutch broker Quintes
21st July 2020
Private investment firm Aquiline Capital Partners has closed its investment in Quintes Holding, one of the largest independent insurance brokers in the Netherlands. No financial terms were disclosed. The broker will maintain its corporate headquarters in Culemborg under the continued leadership of the existing management, including CEO Gijsbert van de Nieuwegiessen and ... Read the full article
Global Risk Solutions acquires major & complex loss expertise in WKA
20th July 2020
Global Risk Solutions, Inc. (GRS), a provider of claims adjusting and environmental risk management solutions, has announced the acquisition of Avon, Connecticut-based firm William Kramer & Associates (WKA). WKA has offices across the U.S. and specialises in large and complex claims as well as litigation management. The company's adjusters have extensive ... Read the full article
Jackson National Life secures $500mn Athene investment
20th July 2020
Jackson National Life Insurance Company has received a $500 million equity investment from Athene Holding. The deal sees Athene receive a 9.9% voting interest corresponding to a 11.1% economic interest in Jackson. “Athene’s investment in Jackson further strengthens our capital position, as we deliver on our long-term strategic objectives,” said Michael Falcon, ... Read the full article
Amynta acquires surety operations from Aspen
17th July 2020
Amynta Group, a provider of property & casualty and warranty protection products and services, has acquired the surety operations of Aspen Insurance, the Insurance Segment of Aspen Insurance Holdings Limited. Following the acquisition, the business will operate as Amynta Surety Solutions. As part of the transaction, Amynta has entered into a strategic ... Read the full article
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