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.
Sirius Group announces launch of formal sales process
27th March 2020
Bermuda domiciled global multi-line insurer and reinsurer, Sirius International Insurance Group, has announced the expansion of its strategic review and the launch of a formal process to sell the company. Previously, the firm's Board of Directors engaged Barclays to assist in the review of the terms of a capital raise arrangement ... Read the full article
BMS Group subsidiary acquires specialist broker Jurado Mata
26th March 2020
Independent specialist re/insurance broker BMS Group has announced the acquisition of Jurado Mata by its Spanish subsidiary, BMS Iberia. Jurado Mata was founded in 1990 and provides a range of affinity, commercial and personal lines solutions to a number of clients across Spain. Juan Mata, Chief Executive Officer of Jurado Mata, will ... Read the full article
Aon’s Eric Andersen, WTW’s Julie Gebauer to lead integration
25th March 2020
Global insurance and reinsurance broker Aon has confirmed to Reinsurance News that Eric Andersen, President of Aon and Julie Gebauer, Head of Human Capital & Benefits at Willis Towers Watson (WTW), will lead the integration of the two brokerage firms. On the 9th of March, 2020 Aon announced that a ... Read the full article
Markel invests in building product firms Lansing & Harvey
25th March 2020
Markel Corporation has entered into an agreement to acquire a majority interest in Lansing Building Products, a supplier of exterior building products and materials in the US. At the same time, Lansing has enhanced its geographic reach via the acquisition of the distribution business of Harvey Building Products. Established in 1955 in ... Read the full article
Kingsbridge set to acquire NSM Insurance Group
25th March 2020
The Kingsbridge Group, a UK provider of specialist insurance services to contractors, has agreed to acquire NSM Insurance Group for an undisclosed sum. NSM is based in Conshohocken, Pennsylvania, and is an industry leader in the development, implementation, marketing and underwriting of profitable, industry-specific insurance programs. The deal marks an exit for ... Read the full article
Coronavirus could delay Genworth & China Oceanwide merger
24th March 2020
Mortgage insurer Genworth Financial has said that its planned merger agreement with China Oceanwide Holdings Group Co., Ltd. may be further delayed due to operational disruptions caused by the coronavirus. The New York State Department of Financial Services (NYDFS) recently reapproved the proposed acquisition of control by Oceanwide of Genworth's New ... Read the full article
Could market decline force M&A price renegotiations? (Covea-PartnerRe, Aon-WTW)
23rd March 2020
With pressures from the coronavirus (COVID-19) outbreak causing a surge in market volatility and significant decreases in share prices, there could be a question mark over some of the larger merger and acquisition (M&A) deals announced recently. For example, PartnerRe shares were valued at US $27.20 per share on the New ... Read the full article
Two Sigma-backed ISC acquires Access Partners
20th March 2020
Integrated Specialty Coverages (ISC), a General Agent backed by investment manager Two Sigma, has announced plans to acquire Access Partners Insurance Services, a multi-line wholesale broker. ISC is a technology-focused General Agency that builds end-to-end insurance products using artificial intelligence (AI) and data analytics. It is backed by affiliates of Sightway Capital, ... Read the full article
IGI begins trading on Nasdaq following Tiberius deal
19th March 2020
International General Insurance Holdings (IGI), the specialist commercial re/insurer, has begun trading on the Nasdaq Capital Market following the completion of its business combination deal with Tiberius Acquisition Corp. The deal with Tiberius, which completed earlier this week, resulted in the public listing of IGI. Now, IGI has confirmed that its ... Read the full article
IGI completes Tiberius business combination
17th March 2020
International General Insurance Holdings (IGI), the specialist commercial re/insurer, has completed its business combination with Tiberius. The combination has been approved by Tiberius stockholders, having already been given the go ahead by former IGI shareholders, who exchanged 100% of the outstanding shares of the former IGI for common shares of IGI ... Read the full article
Gallagher acquires P&C broker McConnell, Manit & Trout
17th March 2020
International insurance brokerage firm, Arthur J. Gallagher & Co has acquired full-service property and casualty broker McConnell, Manit & Trout. MMT focuses on servicing building materials, energy, waste, construction and transportation industries and has clients across the US. Rick McConnell, Mike Manit, Doug Trout and their associates are expected to continue operating ... Read the full article
Canopius set to acquire Bermudian reinsurer MultiStrat
16th March 2020
Bermuda-based specialty reinsurance group MultiStrat is set to be acquired by global specialty re/insurer Canopius. Canopius’ chairman and Chief Executive Officer, Michael Watson, has welcomed MultiStrat CEO Bob Forness and his team to the group, stating, “With a strong track record in the Casualty ILS market MultiStrat is recognised for innovation ... Read the full article
Fitch puts Aon on negative watch, citing WTW merger concerns
12th March 2020
Rating agency Fitch has decided to place the ratings of re/insurance broker Aon on negative watch due to complexities surrounding its recently announced merger deal with Willis Towers Watson (WTW). Analysts said Aon’s ‘BBB+’ Issuer Default Rating (IDR) could be negatively affected by the significant deal size of its combination ... Read the full article
Aon / WTW merger a response to tech disruption, analysts
11th March 2020
Analysts at Peel Hunt have underlined the role technology-driven market disruption is playing in Aon’s decision to make a $30 billion-rated move on Willis Towers Watson. With Lloyd’s investing heavily in ongoing modernisation efforts aimed at lowering brokerage costs, Peel Hunt says the deal could be seen as an antidote ... Read the full article
Rating agencies stable on Aon, positive on WTW
10th March 2020
Rating agencies Moody’s and S&P Global Ratings have revised their outlooks for Willis Towers Watson (WTW) to positive, while maintaining a stable view on Aon, following yesterday’s confirmed merger deal between the two broking giants. After weeks of speculation about a potential deal, the companies announced a definitive agreement to ... Read the full article
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