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.
TMR deal provides RenRe with access to preferential risk at a valuable time
31st October 2018
Bermudian reinsurer RenaissanceRe (RenRe) expects to access up to $1.4 billion of incremental reinsurance premium following its $1.5 billion acquisition of Tokio Millennium Re (TMR), and has entered into an agreement on the firm's non-Japanese reinsurance placements, which provides it with "preferential access to risk" at a valuable time. The ... Read the full article
Global re/insurance M&A deal value hits $42bn, highest since financial crisis
31st October 2018
A “slew of megadeals" have pushed the deal value of global re/insurance mergers and acquisitions to $42 billion (€37 billion) in the first half of 2018, the highest since the financial crisis, according to a new report from Willis Towers Watson and Mergermarket. Indeed, this past week has seen a succession ... Read the full article
RenaissanceRe acquiring Tokio Millennium Re in $1.5 billion deal
30th October 2018
Bermudian reinsurance company RenaissanceRe has announced that it is to acquire Japanese holding company Tokio Marine’s reinsurance units, which include Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited. RenaissanceRe said it has entered into a definitive agreement with Tokio Marine Holdings, Inc. to acquire the firm's reinsurance platform, which ... Read the full article
Re/insurance broker Ed to be acquired by BGC Partners
29th October 2018
Global insurance and reinsurance brokerage, Ed, is to be acquired by a subsidiary of BGC Partners, Inc., a global broker and financial technology firm, subject to numerous conditions, including regulatory approvals. According to an announcement on the deal, under the terms of the agreement, a BGC subsidiary will acquire 100% of ... Read the full article
AMP in $3.3bn sale to Resolution Life, secures Swiss Re reinsurance backing
25th October 2018
Financial services firm AMP is exiting the life insurance sector with the sale of its AMP Life business to Resolution Life for total cash and non-cash consideration of AU$3.3 billion (US$2.3 billion); the transaction is expected to complete in the second half of 2019. Concurrently, the company has announced a deal ... Read the full article
M&A insurance surge driving global deal-making: Aon
24th October 2018
A recent surge in the use of insurance for mergers and acquisition deals has created a greater opportunities and cost savings for stakeholders, while simultaneously changing the way deal professionals distribute and insurers view risk, according to Aon’s global M&A Risk in Review report. The report states that the increased demand ... Read the full article
FWD Group to acquire Indonesian life insurance unit from CBA
24th October 2018
FWD Group, the Swiss Re backed insurance business of Pacific Century Group (PCG), has announced that it plans to acquire a majority stake in PT Commonwealth Life, the Commonwealth Bank of Australia’s (CBA) Indonesian life insurance venture. The arrangement will also see FWD enter into a 15-year life insurance distribution partnership ... Read the full article
Generali acquires Polish asset management firm Union Investment
24th October 2018
Italian insurance giant Generali has acquired a 100% stake in Polish asset management company Union Investment TFI as it looks to to strengthen its presence in central and eastern Europe. With €3.3 billion of assets under management, Union Investment is the country’s sixth largest asset management company. It has approximately 135,000 ... Read the full article
AXA to sell its operations in Ukraine
24th October 2018
French insurance and investment giant AXA has announced that it is to sell all its insurance operations in Ukraine to Toronto-headquartered holding company Fairfax Financial. The deal will see AXA exit the Ukrainian market. Under the terms of the agreement, Fairfax would acquire 100% of the non-life entity AXA Insurance and the ... Read the full article
ACR shareholders considering potential $800m sale, Bloomberg reports
23rd October 2018
The shareholders of Singaporean reinsurer ACR Capital Holdings are considering re-visiting a potential sale of the company less than a year after a deal with Chinese buyers fell through, reports Bloomberg. A deal could value ACR at about $800 million. The company’s owners, which include SIngapore sovereign fund Temasek, and Khazanah ... Read the full article
Apollo lowered per share offer, Aspen’s counter-offer secured final price
23rd October 2018
A proxy statement has revealed that Aspen Insurance Holdings' financial advisors held discussions with 26 companies to gauge interest about making an offer for the company, four of which were in the final bid process, with Apollo eventually agreeing a deal. It was announced at the end of August 2018 that ... Read the full article
Brown & Brown to acquire U.S broker Hays Companies
22nd October 2018
Brown & Brown, Inc. has announced that it has entered into an agreement to acquire Hays Companies, a broker that operates across 21 U.S states, for an undisclosed consideration. Headquartered in Minneapolis, Hays Companies has an annualised revenue of approximately $200 million and focuses on risk management, commercial insurance, employee benefits, ... Read the full article
Re/insurance industry’s “wave of consolidation” just beginning: Swiss Re’s Reichelt
22nd October 2018
Swiss Re is anticipating an acceleration in mergers & acquisitions (M&A) activity in the global re/insurance industry as companies look to expand their business beyond traditional roles, according to Reuters. “We are at the beginning of a wave of consolidation,” Reuters quoted Frank Reichelt, Swiss Re’s Market Executive Northern, Central, Eastern ... Read the full article
London re/insurance broker Miller acquires Alston Gaylor and Co
22nd October 2018
London wholesale and specialist insurance and reinsurance broker, Miller Insurance Services (Miller), has announced the acquisition of independent broker Alston Gaylor and Co (AG), which is majority owned by Nelson Holdings Limited, for an undisclosed fee. The agreement demonstrates Miller's commitment to providing high level client service, while broadening the broker's ... Read the full article
Swiss Re said to have held discussions on Anbang investment
22nd October 2018
Global reinsurance firm Swiss Re has been looking at opportunities for investment in China, after a stake in Anbang Insurance is said to have been discussed with the Chinese authorities. Anbang Insurance Group is described as one of the most politically connected companies in China, having been founded by state-owned enterprises ... Read the full article