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 adds Harriet Clarke to AMATS unit, launches real estate M&A solution
8th June 2020
Global re/insurance broker Aon's M&A and Transaction Solutions (AMATS) unit has announced the appointment of Harriet Clarke as Director, concurrent to the launch of its Real Estate Solution for M&A transactions (ARES). Clarke is a solicitor who joins Aon from PwC, where she served as head of the corporate real estate ... Read the full article
Monument Re completes takeover of Cattolica Life
5th June 2020
Bermudian reinsurer Monument Re has completed its previously announced acquisition of Cattolica Life DAC from Cattolica Assicurazioni. Cattolica Life is a life insurer domiciled in Ireland which ceased new activity since 2017. The transaction, first announced back in December 2019, was completed following receipt of regulatory approval from the Central Bank ... Read the full article
R&Q’s Vermont subsidiary acquires NationsBuilders Insurance Company
5th June 2020
ICDC, Ltd., the wholly owned Vermont-based subsidiary of Randall & Quilter Investment Holdings Ltd. (R&Q), has entered into a stock purchase agreement to acquire NationsBuilders Insurance Company (NBIC). The transaction, which is subject to customary closing conditions and regulatory approvals, sees the R&Q subsidiary acquire a Washington-based captive from NationsBuilders Insurance ... Read the full article
InsurTech Hippo adds Spinnaker to family of companies
3rd June 2020
Hippo, the California-headquartered, homeowners focused InsurTech, has entered into a definitive agreement, pending regulatory approval, to acquire Spinnaker Insurance Company. Founded in 2015, Hippo looks to transform home insurance and ownership by providing a more efficient and affordable service to U.S. homeowners. Since 2017, Hippo Insurance Services has partnered with Spinnaker as ... Read the full article
Carlyle Group & T&D acquire majority share in Fortitude Re from AIG
3rd June 2020
The Carlyle Group and T&D Holdings have completed their previously announced acquisition of a 76.6% interest in Fortitude Group Holdings, whose group companies include Fortitude Re, from AIG. First announced in November of last year, the deal has now closed following the receipt of regulatory approvals and customary closing conditions. Upon ... Read the full article
Skuld agrees sale of Lloyd’s Syndicate 1897 to RiverStone
2nd June 2020
Marine insurer Skuld has reached an agreement with The RiverStone Group for the sale of its Lloyd’s Syndicate 1897, which was placed into run-off in July 2019. The transaction is subject to regulatory approval. Following a competitive process which began in autumn 2019, Skuld selected RiverStone as run-off provider for Syndicate ... Read the full article
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
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