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.
Arch Re completes majority stake acquisition in PMAP
2nd July 2020
Arch Worldwide Reinsurance Group (Arch Re), the reinsurance arm of Arch Capital Group, has completed its previously announced acquisition of a majority stake in Precision Marketing Asia Pacific (PMAP). PMAP is an Australian company that provides marketing solutions to banks, insurance companies, retailers and health care organisations across the Asia ... Read the full article
BBH Capital acquires Sunstar Insurance Group
2nd July 2020
BBH Capital Partners (BBHCP) has acquired a majority stake in regional US insurance broker Sunstar Insurance Group. While terms of the transaction were not disclosed, it has been confirmed that Sunstar management and key employees will remain significant shareholders alongside BBHCP. The transaction with BBHCP provides Sunstar with additional capital to maintain ... Read the full article
Genworth & China Oceanwide delay merger to September
30th June 2020
Mortgage insurer Genworth Financial has announced a further delay to its planned merger agreement with China Oceanwide Holdings Group Co., Ltd., now setting the deadline at no later than September 30, 2020. Originally set for June 30, 2019, Genworth first delayed the merger to allow time to explore the sale ... Read the full article
B.P. Marsh secures 30% stake in Sage Program Underwriters
29th June 2020
Specialist private equity investor B.P. Marsh and Partners has agreed to subscribe for a 30% Cumulative Preferred Ordinary shareholding in SAGE Program Underwriters, for an equity consideration of $250,000. Based in Oregon and established in 2019 by Chief Executive Officer Chuck Holdren, SAGE provides specialist insurance products to niche industries, initially ... Read the full article
ManhattanLife to acquire Standard Life and Casualty Insurance Company
29th June 2020
ManhattanLife has announced that it plans to grow its national presence via the acquisition of Standard Life and Casualty Insurance Company. Incorporated in 1946, Standard Life and Casualty offers a portfolio that includes Specialty Life, Health, Accident and Disability. Standard Life has been owned and managed by John Piercey, his son Brad ... Read the full article
Cohen & Co’s Insurance Acquisition Corp. to combine with Shift Technologies
29th June 2020
Insurance Acquisition Corp., a subsidiary of Cohen & Company Inc., has entered into a definitive merger agreement with automotive e-commerce firm, Shift Technologies Inc. In relation to the closing of the transaction, which is expected to occur in the third-quarter of 2020, Insurance Acquisition Corp. plans to change its name to ... Read the full article
R&Q acquires Vermont-based captive
26th June 2020
Non-life legacy insurance investor Randall & Quilter has announced the acquisition of a captive insurer domiciled in Vermont. The company, which is now in run-off, wrote workers’ compensation, general and auto liability coverage to its parent and affiliates. The acquisition, which has already been approved by the Vermont Department of Insurance, is ... Read the full article
Generali to become a major shareholder of Cattolica via strategic partnership
25th June 2020
Generali Group has committed to becoming a major shareholder of Cattolica Group through a reserved share capital increase for €300 million, as the pair announce the launch of a new strategic partnership. The Board of Directors of both companies recently approved the launch of a strategic partnership between the pair, which ... Read the full article
Ryan Specialty Group to merge with All Risks
24th June 2020
Ryan Specialty Group, LLC (RSG) has announced an agreement to merge with independent wholesale insurance brokerage All Risks, Ltd. The two firms believe they have complementary strengths, with both specialising in transactional wholesale distribution and underwriting businesses in the form of managing general underwriters, programs and delegated binding authorities. RSG is headquartered ... Read the full article
Atlas completes sale of Gateway subsidiary to Buckle
18th June 2020
US-based commercial auto insurer Atlas Financial Holdings has completed the previously announced sale of its subsidiary Gateway Insurance Company to ride-sharing insurance provider Buckle, as it looks to continue its transition towards an MGA model. The transaction closed on June 16th, with $4.2 million paid to the statutory liquidator of Gateway. A ... Read the full article
China Taiping considers selling 25% stake in reinsurance subsidiary
17th June 2020
China Taiping Insurance Holdings Company Limited has announced that it's considering the sale of around 25% of its interest in its reinsurance subsidiary, Taiping Reinsurance Company Limited (TPRe), to external investors. The Board of China Taiping has revealed that the company is considering a potential issuance of shares of TPRe, its ... Read the full article
Crawford & Company sells stake in Lloyd Warwick International to McLarens
16th June 2020
Crawford & Company, a provider of claims management solutions, has agreed to sell its 51% stake in Lloyd Warwick International to global independent insurance services provider McLarens. LWI is a global multi-disciplined loss adjusting and claims management company with a team of nearly 50 adjusters providing a range of engineering, forensic ... Read the full article
Searchlight Capital Partners completes Global Risk Partners acquisition
12th June 2020
Private equity and opportunity investor Searchlight Capital Partners has completed its acquisition of a majority stake in independent insurance intermediary Global Risk Partners (GRP). First announced in February 2020, the deal will see Mike Bruce take the role of Group Chief Executive at GRP and Andy Homer appointed as Non-Executive ... Read the full article
Prosperity Life acquires closed-book businesses from National Guardian Life
11th June 2020
National Guardian Life Insurance Company (NGL) has announced an agreement to sell certain closed-block businesses to Prosperity Life Assurance Limited (Prosperity Life). The businesses in question have combined net statutory reserves of approximately $400 million and consist of life, annuity and A&H lines. “This reinsurance transaction with NGL launches Prosperity Life Assurance ... Read the full article
Arthur J. Gallagher acquires CRES Insurance Services in Nevada
9th June 2020
International insurance brokerage firm, Arthur J. Gallagher & Co., has announced the acquisition of Las Vegas, Nevada-based CRES Insurance Services, LLC. Founded in 1996, CRES designs, markets and services comprehensive errors & omissions insurance and risk management services to real estate firms and professionals across the US, particularly in the Southwest. Following ... Read the full article
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