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.
Gossmann & Cie. to purchase SOVAG following legacy transfer
9th January 2020
Gossmann & Cie. has announced that it plans to purchase German re/insurer Schwarzmeer- und Ostseeversicherungs-AG (SOVAG) via its holding company Minerva Capital GmbH. The transaction follows the completion of the transfer of SOVAG’s legacy portfolio to DARAG in December 2019. Gossmann & Cie. expects the acquisition to accelerate its portfolio refinement ... Read the full article
Coverys European Holdings announces its first acquisition
9th January 2020
Coverys European Holdings Limited (CEH), a division of Coverys which invests in specialty managing general agencies (MGAs) across continental Europe and the UK, has announced the completion of its first acquisition. For its first acquisition, CEH has purchased a Lloyd's of London Coverholder and Broker, TPA, and MGA business providing liability ... Read the full article
Generali finalises purchase of Apollo units in Portugal
8th January 2020
Italian re/insurer Generali has finalised its acquisition of Seguradoras Unidas and the service company AdvanceCare from Apollo Global Management, Inc. in Portugal. The transaction, first announced in July 2019, sees Generali acquire 100% of Seguradoras Unidas for €510 million and AdvanceCare for €90 million. The companies were bought from Calm Eagle ... Read the full article
Aon completes purchase of SME insurtech platform CoverWallet
8th January 2020
Global re/insurance brokerage Aon has completed its previously announced acquisition of CoverWallet, a digital insurance platform for small and medium-sized businesses. Aon believes the acquisition will expand its position in the commercial insurance market for smaller businesses, and allow it to develop improved digital client solutions. CoverWallet joins the portfolio of ... Read the full article
Hub International acquires Cranbrook Bloomfield
8th January 2020
Global insurance brokerage Hub International has acquired the assets of Cranbrook Bloomfield Insurance Agency (CBIA). Terms of the transaction were not disclosed. Headquartered in Bloomfield Hills, Michigan, CBIA is an independent insurance brokerage that provides personal and commercial insurance, and employee benefits solutions. Agency principals John Williamson and Mark Barrett will join ... Read the full article
Beach targets A&H reinsurance market with acquisition of US broker
7th January 2020
Insurance and reinsurance brokerage, Beach & Associates has announced the acquisition of Atlanta-based Accident & Health (A&H) reinsurance broker, Risk and Insurance Consulting Services (RICS). The acquisition sees RICS, which was established in 1997, become part of Beach Re Ltd. and the entity will operate as its A&H division, under the ... Read the full article
Tysers to integrate RFIB following acquisition
7th January 2020
Tysers, the specialty London-based wholesale broker, has completed its previously announced acquisition of Risk Transfer Group, the parent company of specialist Lloyd’s broker RFIB. Integration plans are now well underway, Tysers said, with the aim of combining RFIB’s operations into the firm in 2020. Tysers previously merged its insurance operations with ... Read the full article
Tokio Marine selling stake in RenRe
7th January 2020
Bermudian reinsurance firm RenaissanceRe (RenRe) has announced that Tokio Marine plans to sell its 3.9% stake in the company, worth about $334 million. The stake will be offloaded via an underwritten public secondary offering of 1,739,071 common shares by Tokio Marine & Nichido Fire Insurance Co., Ltd. These shares formed part of ... Read the full article
Kuvare finalises takeover over Lincoln Benefit Life Company
7th January 2020
Kuvare US Holdings, the life insurance and annuity company, has completed its acquisition of Lincoln Benefit Life Company and its affiliates (LBL). First announced in July 2019, the acquisition brings Kuvare’s pro forma consolidated assets to over $22 billion. Formerly owned by RL LP, LBL is the third operating US life ... Read the full article
Gallagher takes stake in specialist Malaysian broker SP&G
6th January 2020
Re/insurance broker Gallagher has expanded its presence in Asia with the acquisition of a minority stake in specialist Malaysian broker SP&G Insurance Brokers. SP&G is a multi-discipline commercial insurance broker that specialises in coverages for the aviation market, as well as in solutions for property & casualty, marine, engineering, and other ... Read the full article
Optio acquires political violence & terrorism MGA from Castel
3rd January 2020
Optio, the managing general agency (MGA) comprising Ascent Underwriting, Cove Programs and Bay Risk Services, has acquired specialist political violence and terrorism MGA Newbridge Risk Partners. Newbridge was launched in 2015 on the Castel MGA formation platform, writing a book of political violence and terrorism risks in emerging markets regions. With capacity ... Read the full article
AJ Gallagher acquires Walsdorf Agency in New York
3rd January 2020
Arthur J. Gallagher & Co. has announced the acquisition of Walsdorf Agency, Inc., a commercial and personal lines insurance agency based in Huntington, New York. Founded in 1926, Walsdorf Agency is a third generation, family owned agency with niche expertise in real estate. Terms of the transaction were not disclosed, but will ... Read the full article
China’s Anbang reopens sales talks for Chengdu bank
3rd January 2020
China’s Anbang Insurance Group is reopening talks to sell its 35% stake in Chengdu Rural Commercial Bank, according to reports from Reuters. This marks the second time the insurer has attempted to offload its stake in Chengdu, having previously tried to sell the stake for 16.8 billion yuan (US $2.41 billion) ... Read the full article
Allianz completes acquisition of remaining stake in LV=GI
2nd January 2020
Global insurer and reinsurer Allianz has completed its previously announced acquisition of the remaining 51% stake in Liverpool Victoria Friendly Society's (LV=) UK General Insurance businesses (LV=GI). The deal was first announced at the end of May 2019 alongside news that Allianz is to acquire Legal & General Insurance Limited, ... Read the full article
Syncora wraps up sale of guarantee insurance subsidiary
31st December 2019
Bermuda-domiciled holding company Syncora has wrapped up the sale of Syncora Guarantee, its financial guarantee insurance subsidiary, to Star Insurance Holdings. Star Insurance is an entity organised by GoldenTree Asset Management on behalf of GoldenTree’s managed funds and accounts. Syncora has also announced plans to distribute the net proceeds of sale together ... Read the full article
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