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.
Ping An considers acquisition of Prudential’s Asia business
14th August 2018
Ping An Insurance, China’s largest insurer by market value, is considering an acquisition of Prudential Plc’s Asia business, according to sources at Bloomberg. The move would allow Ping An to expand into new insurance markets from Singapore to Indonesia, and would bring it into competition with international companies such as AIA ... Read the full article
Bain Capital & esure reach agreement on £1.21bn takeover
14th August 2018
The Independent Directors of esure have reached an agreement with the board of Bidco, a wholly-owned subsidiary of funds advised by Bain Capital Private Equity, LP, and its affiliates, on the terms of an all cash offer for the entire issued and to be issued share capital of esure by ... Read the full article
Bain Capital in discussions to acquire UK insurer esure
14th August 2018
After receiving an unsolicited acquisition offer from U.S. domiciled private multi-asset alternative investment firm, Bain Capital Private Equity, LP and its affiliates, UK insurer esure Group is considering a possible deal. According to a recent announcement, the Board of esure Group notes the recent positive movement in the company's share price ... Read the full article
Suncorp to sell Australian life insurance business for $725mn
10th August 2018
As part of its FY18 results, Suncorp has announced that it has entered into a non-binding Heads of Agreement to sell its Australian life insurance business to TAL Dai-ichi Life Australia for approximately $725 million. As part of the proposed transaction, Suncorp will enter into a 20-year strategic alliance agreement with ... Read the full article
Symbo acquires ReLeague InsurTech, adds reinsurance to its offerings
7th August 2018
Symbo, a Singapore-based all lines insurer, has acquired Mumbai-based B2B reinsurance software platform ReLeague in a deal that adds reinsurance to its current offerings in direct insurance, reports BW Disrupt. The acquisition sees Symbo - a technology-driven business backed by former Sequoia Partner Yinglan Tan’s Insignia Ventures and Dymon Asia Ventures ... Read the full article
Starr Insurance to acquire Aspen’s aviation business
7th August 2018
Starr Insurance Companies has announced that it has entered into an agreement to acquire the renewal rights of Aspen Insurance’s aviation business. Under the terms of the agreement, Starr will manage all underwriting and claims administration on current business, in addition to managing the run-off of Aspen’s aviation claims and reserves ... Read the full article
AXA to sell Life Europe platform to Cinven for €1.2bn
2nd August 2018
AXA Group has entered into an agreement with global private equity firm Cinven for the potential sale of AXA Life Europe (ALE), the company’s Ireland-based Variable Annuity products platform, for €1.2 billion (US $1.4 billion). The total cash proceeds for the sale of ALE, which has been closed to new business ... Read the full article
Marsh completes purchase of Wortham Insurance
2nd August 2018
Global insurance and reinsurance broker Marsh has completed its previously announced acquisition of Houston-based independent insurance brokerage Wortham Insurance. Marsh originally announced in June 2018 that it planned to acquire the Texan broker, which has 530 colleagues based across its offices in Austin, Dallas, Fort Worth, Houston, and San Antonio, ... Read the full article
Ryan Specialty Group acquires ARC Specialty Brokerage assets
1st August 2018
Ryan Specialty Group (RSG) is to buy certain assets of ARC Specialty Brokerage, the property/casualty (P&C) division of wholesale insurance broker ARC Excess & Surplus. Terms of the transaction were not disclosed. ARC Specialty’s Mike Vollaro, a wholesale brokerage professional and specialist in New York construction, will join RT Specialty, the wholesale ... Read the full article
Seeman Holtz continues U.S expansion with new acquisitions
23rd July 2018
Seeman Holtz Property & Casualty, Inc. (SHP&C) has continued its expansion in the U.S with the acquisitions of Central Insurance Advisors, LLC in Florida and Transway Insurance Agency, LLC in Texas. The company says the acquisition of these new independent agencies will strengthen its local commercial insurance platforms and allow it ... Read the full article
LCCG to acquire Generali Worldwide & Generali Link
19th July 2018
Italian insurance giant Generali has entered into an agreement to sell its entire shareholding in Generali Worldwide Insurance Company Limited and Generali Link, to Life Company Consolidation Group (LCCG). The transactions are part of Generali Group's strategy to improve its operational efficiency, alongside improved capital allocation and to optimise its geographical ... Read the full article
Prestige secures multi-million pound investment from Capital Z
19th July 2018
Prestige Insurance Holdings, the parent company of Northern Ireland’s largest privately owned broker, Abbey Insurance, has secured a multi-million pound investment by global equity firm Capital Z Partners Management. The deal, for an undisclosed sum, will see Capital Z acquire the shares of a number of retiring shareholders of Prestige. Prestige’s Founder ... Read the full article
Allianz expands Africa presence with completed acquisition of Ensure
19th July 2018
Global insurer Allianz Group has completed the acquisition of 99.03% of the shares of Nigerian insurance company, Ensure Insurance plc, from Greenoaks Global Holdings Ltd. Effective July 18th, 2018, Ensure becomes part of the Allianz Group, and will operate in Nigeria as Ensure - a company of Allianz. Ensure offers both life ... Read the full article
AIG completes Validus acquisition
18th July 2018
American International Group, Inc. (AIG) has announced the closing of its $5.56 billion acquisition of Validus Holdings, Ltd. following the receipt of regulatory approvals and approval of Validus shareholders. The deal was first announced on January 22nd, 2018, and sees AIG gain some attractive and diversified franchises, including reinsurer Validus Re, insurance-linked ... Read the full article
Brown & Brown acquires disability insurance services firm, PDA
18th July 2018
Brown & Brown has announced that its wholly owned subsidiary, The Advocator Group, has acquired Professional Disability Associates, LLC (PDA), a disability services company and provider of specialty claims management services. PDA has annual revenues of approximately US $15 million, and its services include medical file review, vocational services, and claim ... Read the full article