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.
Warranty and indemnity claims now a constant feature of M&A: AIG
18th September 2018
Warranty and indemnity (W&I) insurance claims are likely to be a constant feature in mergers and acquisitions (M&A) deals going forward, with almost one in five policies receiving a claim notification this year, according to analysis by AIG. The company’s third annual W&I report looks at claims arising from AIG policies ... Read the full article
American Financial open to offers for Neon
18th September 2018
American Financial Group (AFG) executives are said to be open to offers for the insurance and reinsurance business of Neon, if the price is right. Senior executives including AFG co-CEO Carl H. Lindner III, CFO Jeff Consolino, and AVP Investor Relations Diane Weidner participated in analyst Buckingham Research's second annual Boston ... Read the full article
Marsh & Mclennan acquires JLT for $5.6 billion
18th September 2018
Major mergers & acquisitions news breaking this morning, as it has been announced that broking and advisory giant Marsh & McLennan Companies, Inc. (MMC) is to acquire Jardine Lloyd Thompson Group plc for $5.6 billion. The acquisition sees another of the mid-sized global insurance and reinsurance brokers going to a new ... Read the full article
Thomas Miller to acquire Zeller Associates insurance operations
17th September 2018
Thomas Miller, an international insurance services provider, has announced that it has agreed to purchase the Managing General Agency and Insurance Services operations of specialist insurance services group Zeller Associates. Zeller Associates mainly provides risk related and insurance services for shipping, trade and transport, but also focuses on other specialist areas ... Read the full article
SCOR negotiating sale of Rehalto subsidiary to Workplace Options
17th September 2018
French reinsurance giant SCOR has announced that it is in exclusive negotiations with the employee support services provider Workplace Options concerning a worldwide distribution partnership agreement and the sale of SCOR Global Life’s employee wellness solutions subsidiary, Rehalto. A partnership with Workplace Options would enhance SCOR Global Life’s global offering of ... Read the full article
The Carlyle Group claims majority stake in Sedgwick for $6.7bn
13th September 2018
Sedgwick, a global provider of technology-enabled risk, benefits, and integrated business solutions, has announced that affiliates of funds managed by The Carlyle Group have become its majority owner in a $6.7 billion transaction. The company's current majority shareholder, KKR, will fully exit its position following the transaction, while funds managed by ... Read the full article
China Re acquires Chaucer from The Hanover in $950m deal
13th September 2018
China Re, one of Asia’s leading reinsurers, has acquired The Hanover’s London-based Specialty business Chaucer in a deal that totals $950 million and accelerates the state-backed group's international development. The transaction includes a cash consideration from China Re of $865 million and a pre-signing dividend from Chaucer of $85 million, received ... Read the full article
AXA completes acquisition of XL Group
13th September 2018
French insurance and investment giant AXA has announced that it has completed its acquisition of Bermudian property and casualty (P&C) insurance and reinsurance firm XL Group Ltd. The completion of the transaction follows the fulfilment of all necessary closing conditions, including approval by XL Group shareholders and obtention of all necessary ... Read the full article
Reinsurance sector consolidation to continue: Fitch
12th September 2018
Global ratings agency Fitch is anticipating further consolidation across the reinsurance industry, driven by intense market competition and capital levels, alongside a lack of scale and diversification amongst smaller players. Fitch explains that marginalised firms that are under increasing pressure in a highly competitive operating landscape are being pushed to explore ... Read the full article
Nexus completes acquisition of Huntington Underwriting
7th September 2018
Specialty managing general agent (MGA) Nexus Group has completed its acquisition of Huntington Underwriting Limited (HUL), a structured solutions underwriting manager and associate of the Singapore headquartered services group Huntington Group Pte Ltd. HUL has operated out of Labuan International Business and Financial Centre, Malaysia since 2014, and is licensed by ... Read the full article
Enstar’s Maiden Re acquisition to include reinsurance arrangement
5th September 2018
As part of its $307.5 million acquisition of Maiden Re North America, which was announced last week, Enstar Group Limited will enter into a reinsurance agreement with Maiden Re via Enstar’s subsidiary, Cavello Bay Reinsurance Limited. The transaction will see Cavello and Maiden Re enter into a novation agreement and ... Read the full article
General Atlantic’s Verivox acquires digital broker unit of Getsafe InsurTech
5th September 2018
Verivox, the co-owned price comparison site of equity firm General Atlantic, has acquired the insurance broking unit of Getsafe, a German InsurTech start-up backed by Munich Re. Integrating Getsafe’s technology will allow over 8 million Verivox customers to manage all of their insurance policies on Getsafe’s web or mobile app, the ... Read the full article
SCOR denies rumour of PartnerRe talks
4th September 2018
SCOR is under the microscope today, with press rumours now circulating following the initial reveal that mutual insurance group owner Covéa had approached the firm with an acquisition offer, which SCOR turned down. SCOR quickly said that its Board decided to decline the approach from insurance group Covéa as it ... Read the full article
Munich Re acquires tech firm relayr in IoT push
4th September 2018
Global reinsurance giant Munich Re has announced that via its subsidiary Hartford Steam Boiler (HSB), it has acquired technology company relayr, of which it will hold 100% of the shares upon completion. relayr is valued at $300 million, and offers industry participants end-to-end solutions in the area of the Internet of ... Read the full article
SCOR finds Covéa offer “fundamentally incompatible” with strategy
4th September 2018
French reinsurer SCOR said that its Board decided to decline the approach from insurance group Covéa as it is "fundamentally incompatible with SCOR's strategy of independence." Earlier today it came to light that SCOR had been approached by French insurance group Covéa, which had offered the reinsurer a "friendly merger" ... Read the full article