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.
Arthur J Gallagher announces acquisition of Insight
10th August 2020
Global insurance broker, Arthur J Gallagher & co. (AJG), has announced the acquisition of Insight Insurance & Risk Management Ltd. Insight is a retail insurance broker that was founded in 2013. They serve clients throughout Western Canada and has a diverse client base and offers particular expertise in serving the construction, ... Read the full article
R&Q to merge Sandell Re with MGA Tradesman Program Managers
10th August 2020
Randall & Quilter Investment Holdings plans to merge its wholly owned subsidiary, Sandell Re, with Tradesman Program Managers in return for a 35% interest in the combined entity. The initial book value of R&Q’s interest in the combined business will be $43.4 million, which is equal to the estimated book value ... Read the full article
DARAG acquires auto & travel insurer Arisa
10th August 2020
Legacy acquirer, DARAG Group Limited has announced the acquisition of Arisa Assurances SA. Arisa is an automobile and travel insurance company based in Luxembourg and is a subsidiary of ADAC Versicherung AG. The transaction will be conducted through DARAG’s German risk carrier, DARAG Deutsche Versicherungs- und Rückversicherungs-AG, and remains subject to regulatory ... Read the full article
Aston Lark announces acquisition of Lloyd’s broker Incepta
7th August 2020
Aston Lark, the Chartered insurance broker backed by Goldman Sachs, has announced the acquisition of Incepta Risk Management. Incepta is an established Lloyd’s broker offering solutions to clients and customers, direct and wholesale, with an appetite for UK commercial business developed through successful underwriting binders as well as effective open market ... Read the full article
Third Point Re & Sirius Group to combine in $788mn transaction
7th August 2020
Bermuda-based reinsurer, Third Point Reinsurance Ltd, has entered into a definitive agreement to combine in a cash and stock transaction with international multi-line re/insurer, Sirius Group. The deal is valued at around $788 million and will see the establishment of a global company with $3.3 billion of tangible capital, to be ... Read the full article
AXA’s sale of its Life Europe platform to Cinven falls through
6th August 2020
AXA has agreed to terminate its previously announced sale agreement with private equity firm Cinven, which would have seen the insurer offload its AXA Life Europe (ALE) business for €1.2 billion (US $1.4 billion). Alongside the release of its Q2 results, AXA said that certain closing conditions for the ... Read the full article
Hastings Group agrees to cash acquisition offer
5th August 2020
UK-based property and casualty (P&C) insurer, Hastings Group Holdings plc, has received a recommended cash offer from Sampo Oyj and Rand Merchant Investment Holdings Limited (RMI) to acquire all of its issued and to be issued shares not currently owned or controlled by the pair. Towards the end of July, Hastings ... Read the full article
Aon & WTW disclose more on combination to fend off legal challenges
4th August 2020
In an effort to ward off legal challenges delaying Aon's combination with Willis Towers Watson (WTW), the global re/insurance broker has disclosed some additional details associated with the deal. After weeks of speculation, Aon confirmed in March of this year that it will combine with rival broker WTW through a ... Read the full article
Munich Re’s ERGO gets green light for Taishan investment
4th August 2020
The European Commission has approved a strategic investment by ERGO, the primary insurance arm of reinsurer Munich Re, in Shandong-based nationwide property and casualty (P&C) insurer, Taishan Property & Casualty Insurance Co., Ltd. As we wrote in early June, ERGO announced plans to bolster its P&C services in the Chinese ... Read the full article
Aston Lark acquires specialist intermediary PHM
4th August 2020
Chartered insurance broker, Aston Lark, has announced the acquisition of Private Healthcare Managers (PHM) Limited. The company says this new move will boost the broker's employer benefits offering. PHM looks after SME and corporate clients with around £4 million in gross written premium (GWP) per annum across its portfolio. The service is ... Read the full article
TigerRisk wraps up strategic investment from Flexpoint Ford
3rd August 2020
Insurance and reinsurance brokerage TigerRisk Partners has finalised its investment from Flexpoint Ford, a private equity firm specialising in the financial services and healthcare industries. Flexpoint Ford has completed numerous investments in the insurance industry across P&C carriers, insurance distribution, and claims adjusting since its inception in 2005. This deal with TigerRisk was ... Read the full article
Aon sees Willis Re as complementary, divestiture unnecessary: Execs
31st July 2020
Aon's senior leadership, including CEO Greg Case, explained today during a quarterly earnings call that the company isn't expecting to need to divest significantly, as it combines with Willis Towers Watson (WTW) when the acquisition is realised. Case, the Chief Executive Officer of insurance and reinsurance broker powerhouse Aon, said before ... Read the full article
Hastings Group confirms acquisition approach
31st July 2020
Hastings Group has been approached by Finnish insurer Sampo Oyj and South Africa’s Rand Merchant Investment Holdings Limited over a potential acquisition of the UK motor insurer. RMI currently holds a 30% stake in the company. Hastings has established an independent committee comprising the full Board of Hastings excluding Herman Bosman, the ... Read the full article
Genworth posts $441m Q2 loss, gives update on China Oceanwide merger
30th July 2020
Mortgage insurer Genworth Financial has reported a net loss of $441 million in the second quarter of 2020, compared with net income of $168 million the the prior year quarter. The company recently reached a settlement agreement with AXA regarding a dispute over payment protection insurance claims underwritten by the company's ... Read the full article
Investors Senator & Cannae move to oust CoreLogic board
29th July 2020
Senator Investment Group LP and Cannae Holdings Inc. have initiated a process to call a special meeting of shareholders with the aim of removing and replacing a majority of the board members of property information and analytics provider CoreLogic. The move comes after CoreLogic’s board unanimously rejected an offer from ... Read the full article
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