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.
Howden adds Greek broker MATRIX to group
16th April 2020
Howden Broking Group has announced the addition of MATRIX Insurance and Reinsurance Brokers to the group. MATRIX was founded in 2003 and became a broker at Lloyd’s in 2012. It is the leading re/insurance broker in large Corporate and Industrial Risks in Greece and Cyprus. This announcement follows a strategic partnership between ... Read the full article
R&Q to acquire ICI Insurance Company
16th April 2020
Non-life insurance, reinsurance legacy and run-off acquisition specialist Randall & Quilter Investment is set to acquire the entire issued share capital of ICI Insurance Company. ICIICL was incorporated in the Cayman Islands in 2003 and licensed as a Class B (i) Insurer. The residual liabilities of ICIICL comprise primarily of US Workers ... Read the full article
Prudential Financial to sell Korean life unit for $1.9bn
16th April 2020
US insurance and investment firm Prudential Financial has announced that it plans to sell its Korean life insurance business to financial services provider KB Financial Group (KB). Under the terms of its agreement, Prudential Financial will sell 100% of The Prudential Life Insurance Company of Korea for a cash consideration of ... Read the full article
EXOR boss rallies shareholders as COVID-19 looms over big deals
9th April 2020
The boss of Agnelli family owned holding company EXOR expects the spirit and resolve of his companies to ensure they emerge stronger when the coronavirus pandemic passes. “These have been challenging days and weeks for us all and we know the ripples from this crisis will likely continue for some time,” John ... Read the full article
WTW calls for long-term view to M&A deals amid COVID-19 uncertainty
9th April 2020
As the global merger and acquisition (M&A) market continues to trend downwards, re/insurance broker Willis Towers Watson (WTW) has called on business leaders to draw on lessons from the 2008 financial crisis and take a long-term view to deals amid widespread uncertainty. Insurance and reinsurance brokerage firm WTW notes that since ... Read the full article
RenRe has “far exceeded” initial goals of the TMR acquisition: CEO, O’Donnell
8th April 2020
More than a year since RenaissanceRe (RenRe) acquired Tokio Millennium Re (TMR) in a $1.5 billion deal, and the former's President and Chief Executive Officer (CEO), Kevin O'Donnell, feels the company has "far exceeded" its initial targets. It was announced in October 2018 that RenRe had entered into a definitive ... Read the full article
Peak Re targets enhanced ILS capabilities with Lutece acquisition
8th April 2020
Hong Kong domiciled reinsurer Peak Re has strengthened its insurance-linked securities (ILS) capabilities with the acquisition of Bermuda-based ILS asset manager, Lutece Holdings Ltd. and its subsidiary Lutece Investment Management Ltd. Peak Re has entered into definitive agreements to acquire 100% of the capital of Lutece Holdings and its subsidiary, with ... Read the full article
Athora completes VIVAT acquisition & sale of non-life segment to NN Group
3rd April 2020
European life insurance and reinsurance group, Athora Holding, Ltd., has announced the completion of its previously announced acquisition of VIVAT N.V. from Anbang Group Holdings Co Limited, while NN Group has taken control of VIVAT Schadeverzekeringen N.V., VIVAT's non-life operation. The transaction was announced back in June of 2019 and ... Read the full article
Marsh & McLennan Agency acquires Assurance Holdings
3rd April 2020
Marsh & McLennan Agency, the US middle market subsidiary of global insurance broker Marsh, has announced the acquisition of Illinois-based Assurance Holdings. Assurance was founded in 1961 and is a full-service brokerage providing business insurance, employee benefits, private client insurance and retirement services to companies and individuals across the country. The company ... Read the full article
CAC Specialty adds Edward Krayer as SVP in M&A solutions team
2nd April 2020
Specialty insurance broker and investment banking platform CAC Specialty has appointed Edward Krayer as senior vice president in its M&A Solutions team. Krayer joins with over 14 years’ experience in the industry and has served as vice president at Aon, senior vice president at JLT, and, most recently, director at Willis ... Read the full article
Insurance M&A in Jan 2020 totalled $1.3bn: GlobalData
2nd April 2020
Total insurance industry mergers and acquisition deals in January 2020 hit $1.3 billion according to GlobalData, down 91.3% from the previous month. In terms of volumes, North America was the top region for insurance M&A deals globally, followed by Europe and then Asia-Pacific. The top country in terms of M&A deals activity ... Read the full article
Nexus division completes trade credit takeover from Howden UK
2nd April 2020
Xenia Broking Group, the independent broking arm of insurance intermediary holding company Nexus Group, has completed its acquisition of the trade credit business of Howden UK Group Limited. The acquisition was announced last month, and will see Xenia integrate Howden’s trade credit business with its regulated entity Credit Risk Solutions ... Read the full article
Catalina Holdings takes control of Asia Capital Re
31st March 2020
Bermuda-based insurance and reinsurance run-off and legacy specialist, Catalina Holdings, has completed its previously announced acquisition of Singapore headquartered reinsurer, Asia Capital Reinsurance Group Pte. Ltd. The change of control of the Asian reinsurer is effective March 31st, 2020 and marks the completion of Catalina's first acquisition in Asia, with ... Read the full article
Covéa committed to PartnerRe acquisition despite COVID-19 impacts: reports
30th March 2020
Despite the global COVID-19 coronavirus pandemic having a significant impact on European countries, driving meaningful and widespread financial market volatility, Covéa has reportedly said that it remains committed to its deal with Exor to acquire reinsurer PartnerRe. In early March, Covéa and Exor announced the signing of a Memorandum of Understanding ... Read the full article
Monument Re to acquire Bermuda-based GreyCastle Holdings
27th March 2020
Monument Re, the life reinsurance and insurance holding company, has announced the acquisition of Bermuda-based annuity and life risks focused GreyCastle Holdings Ltd and its subsidiaries. The subsidiaries include GreyCastle Life Reinsurance (SAC) Ltd and GreyCastle Services, and Monument Re has reached an agreement to acquire the firm from the shareholders ... Read the full article
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