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.
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
K2 & Pioneer sign terms ahead of acquisition
30th April 2020
Pioneer Underwriters and K2 Insurance Services LLC have now signed terms for their previously announced transaction, under which Pioneer's ongoing underwriting portfolio, as well as underwriting and support staff, transfer to K2. With the terms of the transaction now signed, it's expected that the deal will complete by the end ... Read the full article
Aon, WTW merger to be a positive catalyst: CEO Greg Case
29th April 2020
Greg Case, the Chief Executive Officer of leading re/insurance broker Aon, believes his company’s forthcoming combination with Willis Towers Watson will be a positive catalyst enabling accelerated innovation on behalf of clients. In an official statement to colleagues earlier this week, Case noted how the all-stock combination requires no financing ... Read the full article
Beazley expands global M&A underwriting team
29th April 2020
Specialist insurer Beazley has expanded its mergers & acquisitions team in an effort to better service key markets and explore new opportunities. Joining in London are Lorraine Lloyd-Thomas and Cameron McCoy. Lloyd-Thomas joins from Marsh where she spent 14 years, most recently as a managing director in its UK private equity and ... Read the full article
B.P. Marsh investee firm XPT acquires 100% of Texas-based LP Risk
24th April 2020
B.P. Marsh & Partners Plc has announced that investee firm, XPT Group LLC, has acquired 100% of LP Risk, Inc, the Houston, Texas-based managing general agency (MGA) and surplus lines brokerage. As well as its headquarters in Houston, LP Risk has additional offices in Dallas and San Antonio (Texas). The MGA ... Read the full article
M&A wave to drive opportunities for equity market investors: Twelve Capital
22nd April 2020
A wave of restructuring and consolidation efforts in the re/insurance industry is expected to provide attractive opportunities for equity market investors, according to Twelve Capital. Twelve Capital – an independent investment manager specialising in insurance investments – noted that the global re/insurance industry appears to be increasingly exploring M&A options as ... Read the full article
Florida Southern Insurance joins the Patriot platform
21st April 2020
Patriot Growth Insurance Services, LLC has announced the addition of Florida Southern Insurance, LLC (FSI) to the Patriot platform, significantly expanding Patriot's existing property and casualty (P/C) insurance capabilities. FSI is a Florida-based full-service independent agency that provides a range of P/C insurance solutions, including auto, homeowners, business, flood and boat ... Read the full article
Cooper Gay confirms acquisition of Meteo Protect brand & tech
20th April 2020
Cooper Gay France, the European brokerage and wholesale managing general agency (MGA), has acquired the brand and technology of parametric and weather index insurance specialist and Lloyd's of London coverholder, Meteo Protect. The agreement provides Cooper Gay, which is part of the BGC Partners broking group, with stronger capabilities in the ... Read the full article
PartnerRe expects long-term commitment from Covéa, says CEO Clarke
17th April 2020
Emmanuel Clarke, Chief Executive Officer (CEO) of Bermudian reinsurer PartnerRe, has said that the recently announced acquisition by Covéa is “a very good strategic fit” for the company. Speaking in an interview with Reinsurance News, Clarke explained that PartnerRe views Covéa as “a long-term committed owner” with a long-term strategic interest ... Read the full article
COVID-19 to deter M&A activity in 2020: Conning
17th April 2020
With mergers and acquisitions (M&A) in the P&C market already slowing through 2019, the COVID-19 pandemic is likely to deter further activity through 2020, according to analysts at Conning. Conning noted that M&A activity involving acquisitions of property and casualty insurers last year was down approximately 6% compared to 2019. And with ... Read the full article
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