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.
HSBC considering a bid for Aviva’s Asian operations, reports suggest
22nd August 2019
London-based banking giant HSBC Holdings Plc may be considering a bid to take over the Asian operations of Aviva Plc as part of a push for further business diversification in the region, according to reports from Bloomberg. Sources at the publication said HSBC was in the early stages of weighing an ... Read the full article
Hamilton “greatly enhanced” by Pembroke, Ironshore acquisitions: KBRA
21st August 2019
Kroll Bond Rating Agency (KBRA) has underscored the inherent benefits of Hamilton Group’s acquisition of Pembroke Managing Agency and its platform at Lloyd’s, as well as Dublin-based carrier Ironshore Europe DAC (IEDAC), from Liberty Mutual Group. KBRA believes the deal, which is expected to provide Hamilton with an opportunity to ... Read the full article
Specialty insurer JenCap Holdings set to acquire Aran Insurance Services
21st August 2019
Specialty insurer JenCap Holdings LLC (JCH) has announced an agreement to acquire Aran Insurance Services Group, a specialty program administrator with offices in Arizona, Colorado, Massachusetts, and New York. Founded in 2009, Aran has been built into a successful platform under the leadership of Tim Kenny and John LaCava. The acquisition marks ... Read the full article
Hamilton seals Liberty acquisitions, adds Tony Ursano as group CFO
21st August 2019
Bermuda-based re/insurer Hamilton Insurance Group has completed its previously announced acquisition of Pembroke Managing Agency and its platform at Lloyd's, as well as Dublin-based carrier Ironshore Europe DAC (IEDAC), from Liberty Mutual Group. The addition of both the Pembroke and IEDAC businesses accelerates Hamilton’s growth plans in specialty insurance, whilst ... Read the full article
Interest rates cause slowdown in re/insurance deal volume at Q2: PwC
20th August 2019
Re/insurance deal volume slowed down during the second quarter of 2019 as interest rates reversed course and declined toward multi-year lows, according to analysts at PwC. A recent report from the firm found that deal volume among re/insurance companies decreased by 22% compared with the first quarter of 2019 and was ... Read the full article
Abry to acquire reinsurance management firm Portfolio from Capital Z
19th August 2019
Boston-based private equity firm Abry Partners has agreed to acquire Portfolio Holding from Capital Z Partners, a New York-based private equity firm. Portfolio's primary business is turnkey reinsurance management of vehicle service contracts, warranties and other F&I products sold in the automotive dealership. All of Portfolio's current management team will remain in ... Read the full article
Syncora to sell guarantee insurance subsidiary for $392.5m
19th August 2019
Bermuda-domiciled holding company Syncora has agreed to sell its New York financial guarantee insurance subsidiary to Star Insurance Holdings for $392.5 million in cash. Star Insurance is an entity organised by GoldenTree Asset Management on behalf of GoldenTree’s managed funds and accounts. In addition to the cash purchase price, after the closing ... Read the full article
Intact to grow to $3bn of premiums with new acquisitions
16th August 2019
Intact Financial Corporation has announced that it has entered into an agreement with Princeton Holdings Limited to acquire The Guarantee Company of North America (The Guarantee) and Frank Cowan Company Limited. The cash consideration for the acquisitions is approximately $1 billion, and the transaction is expected to close in the fourth-quarter ... Read the full article
Arch Insurance to acquire tech-focused MGU Ventus
15th August 2019
The North American operations of Arch Insurance is set to acquire technology and analytics-focused managing general underwriter, Ventus Risk Management. Ventus was founded in 2016 and specialises in providing coastal commercial property insurance solutions to small and mid-sized enterprises. Arch Insurance North America plans to integrate Ventus into its platform, enabling third-party ... Read the full article
FedNat’s $51m Maison Insurance acquisition gets regulatory nod
14th August 2019
Florida-based FedNat Holding Company has received regulatory approval from the Florida Officer of Insurance Regulation and the Louisiana Department of Insurance to move forward with its acquisition of the homeowners insurance operations of 1347 Property Insurance Holdings. The previously-announced transaction is expected to close as soon as practicable following November ... Read the full article
Assured Guaranty to acquire asset manager BlueMountain for $160mn
14th August 2019
Assured Guaranty, a financial guaranty insurer, has announced that its subsidiary Assured Guaranty US Holdings Inc. has reached an agreement to acquire all of the outstanding equity interests in BlueMountain Capital Management, LLC and its associated entities. The purchase price of the transaction is $160 million, subject to certain adjustments, and ... Read the full article
Anbang targets sale of Japanese property portfolio: Reports
14th August 2019
China's Anbang Insurance Group is reportedly looking to sell its $2.4 billion (£1.9bn) property portfolio in Japan, which it acquired from Blackstone in 2017 for about the same price, according to Reuters. Reuters has today reported that Anbang is planning to sell the entire portfolio, which mainly consists of residential buildings ... Read the full article
Alliant acquires InvisionBenefit, expanding its Employee Benefits Group
14th August 2019
Alliant has expanded its Employee Benefits Group with the acquisition of InvisionBenefit, a Northern Illinois-based broker, consultant, and administrator. The acquisition of InvisionBenefit further expands Alliant's Midwest benefits presence, bringing a range of new benefits, consulting, and advisory services under the Alliant banner. The firm was founded in the year 2000, and ... Read the full article
M&A dance to continue as reinsurers navigate difficult conditions: S&P
13th August 2019
The ongoing convergence of the insurance, reinsurance, and insurance-linked securities (ILS) markets is expected to persist, and combined with continued pressure on earnings and an increasing need for scale and relevance, is expected to drive further reinsurance sector consolidation, according to S&P Global Ratings. Despite the global reinsurance sector taking advantage ... Read the full article
Brookfield Business Partners acquires majority stake in Genworth Canada
13th August 2019
Brookfield Business Partners L.P. is set to acquire a 57% controlling interest in Genworth MI Canada Inc. (Genworth Canada) from Genworth Financial for approximately CAD 2.4 billion (USD 1.8 billion). Genworth Canada, through its subsidiary Genworth Financial Mortgage Insurance Company Canada, is the largest private sector residential mortgage insurer in Canada. Prior ... Read the full article
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