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.
R&Q completes takeover of Barbados insurer, Distinguished Re
30th December 2019
Randall & Quilter Investment Holdings Ltd. (R&Q) has today announced that its wholly owned subsidiary, R&Q Re (Bermuda) Limited has completed the acquisition of Distinguished Re Ltd., a Barbados insurer. Distinguished Re Ltd. was formerly known as the Saranac Insurance Company, Ltd., a wholly owned subsidiary of Distinguished LLC. The firm ... Read the full article
Liberty Mutual sells Russian subsidiary to Sovcombank
27th December 2019
Liberty Mutual Group has agreed to sell its Russian subsidiary, Liberty Insurance PJSC, to Sovcombank, one of the largest privately owned banks in the country. The transaction is expected to close in the first quarter of 2020, after which the Russian subsidiary will be renamed, Liberty explained. Currently, the deal remains subject ... Read the full article
Sava Re to take over Slovenian life insurer from NLB & KLB
27th December 2019
Slovenia domiciled reinsurance firm Sava Re has agreed to acquire life insurer NLB Vita from its parent companies, Nova Ljubljanska banka (NLB) and KBC Insurance NV (KBC). Both NLB and KBC will sell their respective stakes in the 50/50 joint venture, which is also based in Slovenia. In doing so, KBC will ... Read the full article
Egyptian investors acquire stake in Tokio Marine Takaful subsidiary
23rd December 2019
EFG Finance Holding, a subsidiary of Egyptian investment bank EFG Hermes, along with GB Capital, a wholly owned subsidiary of GB Auto, have entered into a definitive sale and purchase agreement to acquire a 75% stake in Tokio Marine Egypt Family Takaful. The deal is worth £4.1 million and is subject ... Read the full article
OMERS takes 40% stake in Fairfax’s RiverStone UK
20th December 2019
OMERS, one of the largest Canadian defined benefit pension plans, has entered into an agreement with Fairfax Financial Holdings Limited to acquire a 40% interest in RiverStone UK, Fairfax's UK run-off group. Following the transaction, RiverStone UK will benefit from the joint operational expertise of Fairfax and OMERS, providing it with ... Read the full article
Bermuda’s Fleming Re acquires AggCap II
20th December 2019
Fleming Re Holdings LLC has announced the acquisition of AggCap Insurance Ltd, - AggCap II, a group captive that is in run-off providing workers compensation coverage for a large membership of California-based agribusinesses. AggCap Insurance Ltd is a Bermuda-based segregated accounts company that has provided workers comp insurance, loss control services, ... Read the full article
DARAG completes legacy portfolio transfer with SOVAG
20th December 2019
Legacy acquirer DARAG Group Limited has announced the completion of its portfolio transfer deal with German insurer and reinsurer, SOVAG. The deal, which was first announced in August 2019, sees the portfolio transferred to DARAG’s German subsidiary, DARAG Versicherungs- und Ruckversicherungs-AG. The legacy book consisted of both direct insurance and inwards ... Read the full article
AJ Gallagher expands Atlantic Canada capabilities with acquisition
20th December 2019
Arthur J. Gallagher & Co. recently announced the acquisition of Sinclair Billard and Weld Limited, and CJM Solutions + Inc., dba SBW Employee Benefits. SBW Employee Benefits is a Halifax, Nova Scotia-based designer, administrator, marketer and manager of comprehensive group insurance programs, and defined contribution group retirement programs for businesses and ... Read the full article
BRP Group to acquire Chicago insurer Highland Risk
20th December 2019
BRP Group, Inc., an independent insurance distribution firm, has entered into an agreement to acquire Highland Risk Services LLC, a Chicago-based insurance company. The company will carry out the acquisition via its subsidiary, BRP Insurance Intermediary Holdings, LLC, with the transaction set to close on January 1, 2020. Highland Risk is focused ... Read the full article
Aktia takes over life portfolio from Nordic insurer Alandia
20th December 2019
Aktia Life Insurance Ltd, a subsidiary of Finnish bank Aktia Bank plc, has agreed to acquire the life insurance portfolio of Nordic insurer Försäkringsaktiebolaget Liv-Alandia. Försäkringsaktiebolaget Liv-Alandia, a subsidiary of Alandia Försäkring Abp, has a portfolio of approximately 11,000 life insurance policies, which have largely been handled by Aktia for 56 ... Read the full article
New York Life to purchase Cigna’s group life & disability insurance business
19th December 2019
U.S. domiciled mutual life insurer, New York Life, has entered into a definitive agreement to acquire Cigna's group life and disability insurance business for USD 6.3 billion. The transaction is expected to close in the third-quarter of next year and remains subject to regulatory approvals and other customary closing conditions. Once completed, ... Read the full article
Resolution Life to acquire Voya’s in-force individual life business
19th December 2019
Resolution Life Group Holdings Ltd has entered into an agreement to acquire the in-force individual life business of Voya Financial, Inc., for a total consideration of USD 1.25 billion. The blocks of business being divested by Voya Financial include those that the firm had previously closed to new sales and include ... Read the full article
Alliant acquires Texan energy broker TCOR Management
17th December 2019
US specialty insurance broker Alliant Insurance Services has announced the acquisition of TCOR Management, a Texas-based risk management firm. Founded in 1972, TCOR provides commercial insurance to the energy and construction industries as well as surety, loss control services, and employee benefits. The company has offices in New Braunfels, Beeville, and Tyler, ... Read the full article
Aon targets private equity investors in NAIC partnership
17th December 2019
Global re/insurance brokerage Aon has partnered with The National Association of Investment Companies, the largest network of diverse-owned private equity firms and hedge funds. The move will give Aon an opportunity to offer its services to NAIC member companies, which are expected to increasingly pursue innovative and complex transactions as the ... Read the full article
Monument Re acquires closed life book from Belgium’s Curalia OVV
16th December 2019
Bermuda domiciled life reinsurance and insurance holding company, Monument Re, has announced the acquisition of a closed book of life business from Curalia OVV, a mutual insurance company based in Belgium. Under the terms of the transaction, the portfolio transfers into Monument Assurance Belgium NV, the reinsurer's Belgian carrier. Monument Assurance Belgium ... Read the full article
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