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.
Tokio Marine HCC completes GCube acquisition
1st June 2020
Tokio Marine HCC has completed its previously announced acquisition of GCube, creating a new 'centre of excellence' for renewable energy insurance. The acquisition of specialist renewable energy insurer, GCube by Tokio Marine HCC was announced in early March. The deal combines GCube's extensive track record supporting renewables developers and asset ... Read the full article
Monument Re completes GreyCastle acquisition
28th May 2020
Life reinsurance and insurance holding company, Monument Re, has completed its previously announced acquisition of GreyCastle Holdings Ltd and its subsidiaries. The deal was announced towards the end of March, 2020 and sees Monument Re acquire a Bermuda-based manager of annuity and life risks. GreyCastle was established in 2014 by a ... Read the full article
Nordic Capital to acquire Max Matthiessen from WTW
26th May 2020
Nordic Capital, a leading investor in the financial services sector, has announced the acquisition of Max Matthiessen from global insurance and reinsurance broker, Willis Towers Watson (WTW). Max Matthiessen is one of the leading financial advisors within pensions, insurance and investment in the Nordic region. Established in 1889 and headquartered in ... Read the full article
Neon’s Lloyd’s managing agency platform for sale in TigerRisk run process
22nd May 2020
The Lloyd's of London managing agency platform of in run-off Neon Underwriting, part of American Financial Group, Inc., is up for sale in a process being run by broker TigerRisk Partners, we understand. AFG had announced that it was to exit the Lloyd’s marketplace at the beginning of this year, ... Read the full article
IRB Brasil Re eyeing competitors’ LatAm portfolios: Reports
22nd May 2020
It’s believed Brazilian reinsurer IRB Brasil Re is in advanced talks with rivals across Latin America as the firm looks to buy up portfolios and strengthen its position in the region. Reuters, citing two sources close to the reinsurer, says the move is an attempt to capitalise on decisions by rivals ... Read the full article
Call for Watford to be sold as reinsurer falls “horribly short of expectations”
19th May 2020
In a recent letter, the principal of investment firm Capital Returns Management, Ronald Bobman, has called for Bermuda-based reinsurer Watford Holdings Ltd to consider selling itself, potentially to a runoff specialist. A letter that was sent on Friday highlighting unprofitable underwriting returns and poor investment results at the company, called for ... Read the full article
Fitch affirms, removes PartnerRe from Rating Watch Positive
15th May 2020
Fitch Ratings has affirmed and removed PartnerRe’s ratings from Rating Watch Positive, including its 'A-' Issuer Default Rating and the 'A+' (Strong) Insurer Financial Strength rating of its principal reinsurance operating subsidiary. The Rating Outlook is Negative. PartnerRe’s removal from Positive Watch follows news that EXOR N.V. and Covea’s $9 ... Read the full article
Speculation returns that Covéa could bid again for SCOR
13th May 2020
Following French insurer Covéa's decision to pull out of its previously-agreed deal to purchase PartnerRe from Exor, speculation around a potential renewed bid for SCOR has resurfaced. As we reported earlier today, the acquisition of reinsurer PartnerRe by Covéa has been cancelled, after owner EXOR declined to renegotiate the price ... Read the full article
Covéa’s acquisition of PartnerRe from EXOR called off
13th May 2020
The acquisition of global reinsurer PartnerRe by French insurer Covéa has been abruptly called off, after owner EXOR declined to renegotiate the price in the context of the Covid-19 pandemic. Covéa had sought a renegotiation of the acquisition price for PartnerRe in the wake of the pandemic, but EXOR believes that ... Read the full article
OneAdvent acquires UK property MGA Modus
12th May 2020
MGA platform OneAdvent has announced its acquisition of Modus Underwriting Ltd., an MGA focused on providing niche property insurance products to brokers across the UK. OneAdvent believes the acquisition will strengthen its position in the landlord space. The two companies have been working together in advance of the acquisition to jointly develop ... Read the full article
Aon/WTW merger talks began in January 2019
11th May 2020
Discussions about a potential merger between re/insurance brokers Aon and Willis Towers Watson (WTW) began in January 2019, according to a new timeline of the transaction released by both firms. The document shows that CEOs Greg Case and John Haley first met on January 30, 2019 to explore options for a ... Read the full article
Hyperion’s DUAL acquires specialty underwriting agency in NZ
8th May 2020
DUAL, the underwriting arm of Hyperion Insurance Group, has announced the acquisition of a controlling interest in New Zealand specialty underwriting agency International Underwriting Agencies (IUA). “In these challenging times I’m delighted that DUAL has completed only the fourth acquisition in its long history and to welcome the IUA team,” said ... Read the full article
Peak Re wraps up Lutece Holdings acquisition
5th May 2020
Hong Kong-based reinsurer Peak Re has completed its acquisition of the capital of Lutece Holdings and its subsidiary Lutece Investment Management, which will be renamed Peak Capital. The Bermuda-based ILS investment specialist is now a wholly owned subsidiary of Peak Re. The completion of the transaction follows the fulfilment of customary closing ... Read the full article
Paragon completes acquisition of Argo’s Trident Public Risk Solutions
4th May 2020
Paragon Insurance Holdings, LLC has completed its previously announced acquisition of Trident Public Risk Solutions from Argo Group International Holdings, Inc. It was announced in early February 2020 that Argo had agreed to sell the Trident brand and underwriting platform to Paragon, but retain the unit's claims operations. The deal has ... Read the full article
Positive timing of Tiberius deal supports IGI’s growth ambitions: IGI’s Jabsheh
30th April 2020
The timing of the transaction with Tiberius was both positive and opportune for IGI, while the simplified access to capital enables the insurer to grow in the current market, according to the company’s President, Waleed Jabsheh. Following its business combination with Tiberius, former Dubai-registered IGI became a public company ... Read the full article
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