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.
Aston Lark set to acquire Wright Insurance Brokers in Ireland
5th December 2019
UK insurance brokerage Aston Lark has announced that it plans to acquire Wright Insurance Brokers, based in Ireland. Wright Insurance Brokers is a specialist in the commercial and transport sectors, with offices in Wexford and Carlow. The company was founded by insurance investors Tony and Breda Wright and employs over 150 across ... Read the full article
Verisk acquires life insurance & annuity software company, FAST
5th December 2019
Verisk Analytics has announced that it has signed a definitive agreement to acquire FAST, a software firm for the life insurance and annuity sector, for a purchase price of $193.5 million. FAST, which stands for Flexible Architecture, Simplified Technology, offers a policy administration system that enables insurers to accelerate both underwriting ... Read the full article
Arthur J. Gallagher acquires Blueleaf Consulting in Australia
5th December 2019
Arthur J. Gallagher & Co. has announced the acquisition of Blueleaf Consulting Pty Ltd., a financial advice practice based in North Sydney, New South Wales. Founded in 2006, Blueleaf Consulting offers wealth management, estate planning and business succession support to businesses and individuals across New South Wales. Following the takeover, Blueleaf Consulting’s ... Read the full article
Austral Re & Terra Brasis commence operations after merger
4th December 2019
Brazilian reinsurance companies Austral Re and Terra Brasis have commenced their operations as a combined entity following a merger between the two firms. The new company, whose brand is still under development, has offices in Rio de Janeiro, Sao Paulo and Bogota. Austral Re and Terra Brasis claim that the combined ... Read the full article
Chubb may look to acquisitions after €1.4bn senior notes offering
4th December 2019
Global insurance and reinsurance company Chubb Limited has announced the pricing of a €1.4 billion senior notes offering, the proceeds of which could be used to fund future acquisitions. The offering will consist of €700 million of 0.30% senior notes due 2024 and €700 million of 0.875% senior notes due 2029. The ... Read the full article
Fednat completes takeover of 1347’s insurance operations
3rd December 2019
Florida-based FedNat Holding Company has successfully completed its acquisition of the homeowners insurance operations 1347 Property Insurance Holdings, Inc. (1347 PIH) for $51 million. The deal, first announced in February 2019, sees FedNat take over Maison Insurance Company, Maison Managers, Inc., and ClaimCor LLC (collectively Maison). Maison is a property and ... Read the full article
Hub International acquires California insurer HMBD
3rd December 2019
Global insurance brokerage Hub International has announced the acquisition of Hamman-Miller-Beauchamp-Deeble, a full service insurance agency providing multi-line insurance solutions. Located in California, HMBD focuses on industries such as construction, healthcare, and transportation. The acquisition is expected to support Hub’s specialty practices by complementing and strengthening its existing capabilities. "I am pleased to ... Read the full article
Arch completes acquisition of Barbican
2nd December 2019
Bermuda-based re/insurance company Arch Capital Group has completed its acquisition of Barbican Group Holdings Limited from owner investor Carlson Capital. The deal, first announced in July 2019, is expected to provide a significant expansion to Arch’s London and Lloyd’s related insurance and reinsurance underwriting operations. As part of the acquisition, Arch ... Read the full article
Zurich acquires Adira Insurance, expanding presence in Indonesia
2nd December 2019
Zurich Insurance Group has completed the acquisition of 80% of PT Asuransi Adira Dinamika (Adira Insurance), thereby becoming the largest property and casualty (P&C) insurer in Indonesia. Adira Insurance is among the top 10 P&C insurers in Indonesia. It generated gross written premiums of US $170.4 million in 2018 and has leading ... Read the full article
Cooper Gay France acquires Belgian unit from Tokio Marine Kiln
29th November 2019
Cooper Gay (France) SAS (CGF), the French MGA owned by Ed Broking, has announced that it plans to acquire a Belgium headquartered service company from Tokio Marine Kiln. Following the acquisition, Tokio Marine Kiln Europe SA (TMKE) will combine with CGF to create a single business, to be named Cooper Gay. CGF ... Read the full article
Fortitude Re sale incrementally positive for AIG, AM Best says
28th November 2019
Global insurer AIG’s Long-Term Issuer Credit Rating of “bbb”, as well as the Financial Strength Ratings and the Long-Term ICRs of its operating subsidiaries, remain unchanged by AM Best following the decision to offload Fortitude Re in a transaction the ratings agency describes as incrementally positive for the group. AIG ... Read the full article
AJG agrees terms to take 100% ownership of Capsicum Re
27th November 2019
Arthur J. Gallagher & Co. (AJG) has announced that it has agreed heads of terms to pursue the necessary transaction to take 100% ownership of reinsurance specialist brokerage Capsicum Re. The transaction has been in the offing, as time was running out on an option that AJG had to expand its ... Read the full article
AXA XL acquires Lloyd’s coverholder Secure Legal Title & Mexican affiliate
27th November 2019
AXA XL, the property and casualty (P&C) and specialty risk unit of AXA, has announced the acquisition of London-based insurance agency and Lloyd's of London coverholder, Secure Legal Title Limited. Secure Legal Title was founded in 2012 and provides protection to cover legal risks in property transactions and mortgage finance, with ... Read the full article
H.W. Kaufman Group acquires Barbican Protect Limited
27th November 2019
H.W. Kaufman Group, a global network of insurance companies, has acquired Barbican Protect Limited from Barbican Insurance Group, subject to regulatory approval. The agreement sees Barbican Protect rebrand as Burns & Wilcox and join H.W. Kaufman Group London, and is part of the company's expansion plans into the UK marketplace. The acquisition ... Read the full article
Great American names President of M&A Liability Division
26th November 2019
Great American Insurance Group has announced the promotion of Roy Reynolds to Divisional President within its Property & Casualty (P&C) Group, Mergers & Acquisitions (M&A) Liability Division. At the same time, Great American has named Garry Gordon as Divisional Senior Vice President, also for its P&C Group, M&A Liability Division. Reynolds joined ... Read the full article
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