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 to go public via merger agreement with Easterly
25th June 2018
Sirius International Group, a global multi-line insurance and reinsurance group, has entered a merger agreement with Easterly Acquisition Corp. for a proposed business combination that would result in Sirius becoming a publicly listed company. Under the terms of the agreement, Easterly would merge with a subsidiary of Sirius Group to become ... Read the full article
AmTrust stockholders approve amended merger deal
22nd June 2018
AmTrust Financial Services has announced that its stockholders have approved its proposed merger transaction with Evergreen Parent, L.P. for the amended offer price of $14.75 per share in cash for all outstanding shares. Evergreen Parent L.P. is an entity formed by private equity funds managed by Stone Point Capital LLC, together ... Read the full article
U.S. domiciled AIA and PCI enter merger negotiations
21st June 2018
The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) have announced that they have entered merger discussions to create a unified U.S re/insurance trade organisation. A merged trade association would represent approximately 60% of the U.S property and casualty (P&C) market, creating an influential voice that ... Read the full article
Munich Re rumoured to be in talks to sell its asset manager
21st June 2018
According to industry reports, Munich Re is rumoured to be in talks with U.S. fund manager Guggenheim Partners LLC about the sale of its asset management arm, Munich Ergo Asset Management GmbH (MEAG). The Wall Street Journal first reported that talks are at an early stage, and that it remains uncertain ... Read the full article
Monument Re acquires €500m run-off portfolio from Metlife Europe DAC
21st June 2018
Bermudian reinsurer Monument Re has announced the acquisition of a run-off portfolio consisting of linked and traditional life insurance business from Ireland-domiciled Metlife Europe DAC. Monument Re is to act as a reinsurance vehicle for the deal initially, with the risk portfolio ultimately set to be transferred to its subsidiary Laguna ... Read the full article
AIG to acquire UK life insurer Ellipse from Munich Re
20th June 2018
American International Group, Inc. (AIG) has entered into an agreement to acquire Ellipse, a specialist provider of group life risk protection in the UK, from Munich Re. The acquisition will be funded by an undisclosed cash consideration, and will be conducted via AIG Life Ltd. (AIGLL), a UK subsidiary of AIG ... Read the full article
Generali finalises sale of PanEurope unit to LCCG
20th June 2018
Assicurazioni Generali SpA has completed the sale of its entire shareholding in its Ireland-based subsidiary, Generali PanEurope, to Life Company Consolidation Group (LCCG). Generali says the terms of the sale are in line with the transaction’s original announcement in December 2017, when it was revealed that Generali had agreed to ... Read the full article
Abu Dhabi Investment Authority to acquire 21.4% stake in PIC parent
19th June 2018
The Abu Dhabi Investment Authority (ADIA) has entered an agreement to acquire up to 21.4% of the shares of Pension Insurance Corporation Group, the parent company of Pension Insurance Corporation (PIC), from funds advised by private investment firm J.C. Flowers & Co. PIC is a specialist insurer and provider of bulk ... Read the full article
IAG to sell Thai and Indonesian operations to Tokio Marine for $525mn
19th June 2018
IAG has revealed plans to sell its operations in Thailand and Indonesia to Tokio Marine & Nichido Fire Insurance Co., Ltd (Tokio Marine) for approximately $525 million. The sale agreement relates to IAG’s interests in 98.6% of Safety Insurance in Thailand and 80% of PT Asuransi Parolamas in Indonesia. Tokio Marine is ... Read the full article
Enstar considering Atrium and StarStone sale
18th June 2018
Bermuda based insurance, reinsurance and run-off specialist Enstar Group Limited has retained investment bankers to explore a potential sale of its active underwriting businesses. In a move clearly designed to test the market's appetite for another pricey M&A deal, Enstar said that recent transactions led to the decision to find out ... Read the full article
Allianz planning huge UK insurance acquisition, Aviva and RSA both targets
18th June 2018
A report from The Sunday Times suggests Chief Executive Officer (CEO) of Allianz, Oliver Bäte, has been working with investment bankers for several months as he weighs up options on a list of potential deals. Allianz are said to be interested in pursuing a large UK insurance acquisition, with Aviva and ... Read the full article
LCCG to acquire Equitable Life’s in run-off business
15th June 2018
Life Company Consolidation Group (LCCG) has signed an agreement with The Equitable Life Assurance Society to transfer the company and all of its business to Reliance Life Limited, a specialist UK run-off manager established by LCCG. The proposed transaction will maximise the capital distribution to members by converting Equitable Life’s ‘with ... Read the full article
Ironshore names James Swan as Head of M&A for the Americas, expands team
15th June 2018
Ironshore has announced the appointment of James R. Swan as Head of Mergers & Acquisitions (M&A) Insurance Americas, in addition to adding several new members to the New York based team. Valentine Han, Scott G. Pegram, Victoria Rosales and Hilary Weiss will all join M&A production specialist Cristina Merry del Val ... Read the full article
MAPFRE Insurance Company of New York acquired by Plymouth Rock
15th June 2018
Massachusetts-based Plymouth Rock Assurance Corporation has announced the acquisition of MAPFRE Insurance Company of New York (NY), continuing its expansion into the State's insurance market. The deal involves both personal auto and home insurance business in NY, with certain Plymouth Rock companies also acquiring replacement carrier rights for auto and home ... Read the full article
Hyperion acquires minority stake in Apollo Partners
14th June 2018
London-headquartered Hyperion Insurance Group has acquired a 9.9% share in Apollo Partners LLP, via the company’s existing partners. The deal sees Hyperion claim a minority stake in the holding company of Lloyd’s MGA, Apollo Syndicate Management Limited (ASML). ASML has managed Syndicate 1969, a multi-line syndicate operating across 12 main classes of ... Read the full article