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.
USI Insurance Services acquires Oregon-based insurance agency
13th November 2019
Insurance brokerage and risk management firm, USI Insurance Services, has acquired Oregon-based insurance agency Alfred J. Davis Company. Alfred J. Davis Company was founded in 1947 and provides commercial insurance solutions and personal risk products to both individuals and businesses in Oregon for more than 70 years. Following the completion of the ... Read the full article
Gallagher acquires automotive incentive firm BonusDrive
11th November 2019
Global insurance brokerage Arthur J. Gallagher & Co. has acquired BonusDrive from The EHE Group. BonusDrive promotes the purchase or leasing of vehicles of others by providing an award program whereby participants can purchase or lease new vehicles while receiving a cash rebate from the vehicle manufacturer. Consumers receive cash bonuses for ... Read the full article
Re/insurance deals total $4.61bn in September: GlobalData
8th November 2019
Total insurance and reinsurance industry deals worth $4.61 billion were announced globally in September 2019, according to data and analytics firm GlobalData. The company’s deals database showed a 17.05% decrease in value over the previous month and a drop of 20.5% when compared with the last 12-month average of $5.8 billion. In ... Read the full article
Delek Group completes divestment in The Phoenix Holdings
5th November 2019
Delek Group has successfully completed the sale of its 32.5% stake in The Phoenix Holdings Ltd to the Centerbridge and Gallatin Point Capital investment funds, for a total consideration of NIS 1.57 billion (approximately USD 450 million). Of the total consideration, NIS 1.335 billion (approximately USD 380 million) was received in ... Read the full article
Samsung Fire & Marine wraps up Canopius investment
4th November 2019
Samsung Fire & Marine Insurance (SFMI), part of the Korean tech giant, has completed its strategic investment in global specialty lines re/insurer Canopius. First announced in May 2019, the deal has allowed SFMI to become a significant minority investor in Canopius. Notably, SFMI and Canopius have now said that in addition ... Read the full article
Fidelis takes stake in MGA Perigon for product recall
4th November 2019
Fidelis Insurance, the privately owned Bermuda-based holding company, has taken an equity stake in managing general agent (MGA) Perigon Product Recall Limited. Perigon’s focus will be product recall and product contamination coverage for food and beverage producers, restaurant operations, auto manufacturers, and a range of other recall classes of insurance. As part ... Read the full article
London insurance M&A activity to persist, but focus on smaller end of market: Skeels, Mazars
31st October 2019
With fewer incumbents left to purchase at the top end of the London insurance space, M&A activity is expected to be dominated by the smaller end of the marketplace, according to Stephen Skeels, Partner and National Head of Valuations at Mazars, the global audit, accounting and consulting group. Mazars has a ... Read the full article
Risk Strategies acquires specialty brokerage Dash & Love
31st October 2019
Risk Strategies, a privately held US insurance broker and risk management firm, has acquired full-service specialty brokerage Dash & Love. Dash & Love is a retail insurance brokerage providing insurance placement and risk management advice to organisations and successful individuals and families across Pennsylvania and the tri-state area. In its commercial lines ... Read the full article
The Carlyle Group to acquire majority stake in brokerage Hilb
30th October 2019
Global investment giant The Carlyle Group has entered into a definitive agreement to acquire a majority interest of national insurance brokerage, The Hilb Group, LLC, from Boston-based private equity firm, Abry Partners. The transaction is expected to close in the final quarter of 2019 and once completed, Hilb's existing management team ... Read the full article
Enstar acquires legacy asbestos & environmental liabilities
30th October 2019
Bermuda-based re/insurance, run-off and legacy specialist, Enstar Group Limited, has announced that its Enstar Holdings (US) LLC division has acquired BorgWarner Morse TEC, LLC (Morse TEC) from BorgWarner Inc. This the second time that Enstar has purchased a non-insurance company, following its $91.5 million acquisition of Dana Companies, LLC for ... Read the full article
RiverStone acquires two Cayman-based captives
30th October 2019
Legacy specialist RiverStone has announced the acquisitions of GMPCI Insurance Company, Ltd. and Seaside Indemnity Alliance Company, Ltd., which are both Cayman-based captives. Seaside Indemnity Alliance was established in 2013 in order to assume hospital and physician professional liabilities. GMPCI Insurance was launched in 2005 to provide insurance to anaesthesiologists, certified registered ... Read the full article
Seeman Holtz acquires New Jersey insurer Geisenheimer
28th October 2019
Seeman Holtz Property & Casualty, LLC has announced the acquisition of New Jersey-based insurer GIA Insurance Agency, LLC (Geisenheimer Insurance Agency). Established in 1972, Geisenheimer provides personal and commercial insurance to clients throughout the US, Canada, Asia, South America, Caribbean, Australia, and Europe. The business is led by founder Alan Geisenheimer and ... Read the full article
Apollo to increase stake in Athene amid $1.55bn alignment push
28th October 2019
Private equity firm Apollo Global Management is set to buy an 18% incremental stake in leading retirement services firm Athene, at a premium, in order to strengthen the strategic relationship and reinforce the alignment of interests between the two firms. The transaction includes a share exchange between Apollo and Athene, purchase ... Read the full article
Aston Lark acquires Lloyd’s broker Protean Risk
28th October 2019
UK insurance broker Aston Lark has acquired specialist Lloyd’s brokerage Protean Risk, the firm’s first purchase since being acquired by the Merchant Banking division of Goldman Sachs in September. Protean Risk focuses on the investment industry, financial services, fintech and technology sectors and has clients ranging from start-ups to international organisations. Peter ... Read the full article
Arthur J. Gallagher takes minority stake in Indian broker Edelweiss
28th October 2019
Global insurance brokerage Arthur J. Gallagher & Co. has completed its purchase of a minority stake in Edelweiss Insurance Brokers Limited (EIBL), the broking unit of Indian financial services conglomerate Edelweiss Group. EIBL provides a range of both insurance and reinsurance solutions, and benefits from the distribution network of its parent ... Read the full article
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