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.
Sagicor Life acquires portfolios from CLICO & British American Trinidad
8th October 2019
Sagicor Life, a subsidiary of Caribbean financial services provider Sagicor, has announced the acquisition of traditional insurance portfolios from Colonial Life Insurance Company (Trinidad) Limited (CLICO) and British American Insurance Company Trinidad Limited (BAT). The insurance policies assumed will consist of a combination of ordinary long-term life insurance policies, including universal ... Read the full article
Liberty Mutual Re expands footprint in Continental Europe
7th October 2019
Liberty Mutual Reinsurance has announced a series of changes to the structure of its financial risks reinsurance team following the acquisition of Nationale Borg Reinsurance (NB Re) from AmTrust earlier this year. First announced in April, the agreement saw LM Insurance Group acquire four AmTrust businesses: AmTrust Surety; AmTrust Insurance ... Read the full article
Arthur J. Gallagher’s Artex to acquire Horseshoe Insurance Services
3rd October 2019
Arthur J. Gallagher & Co. has announced that its captive and alternative risk transfer solutions subsidiary, Artex Risk Solutions, has signed an agreement to acquire Horseshoe Insurance Services Holdings Ltd. Horseshoe is a Bermuda-headquartered provider of insurance management fund administration, advisory and corporate services to the insurance-linked securities (ILS) market. The firm, ... Read the full article
Tokio Marine to acquire US insurer Pure Group for $3bn
3rd October 2019
Tokio Marine Holdings, the largest property and casualty insurance group in Japan, has announced plans to acquire US high net worth insurance specialist Pure Group for $3.1 billion. The acquisition is expected to close by March 2020 and will be completed through Tokio Marine’s subsidiary HCC Insurance Holdings. Tokio Marine's pending acquisition ... Read the full article
Verisk to acquire property data provider BuildFax
3rd October 2019
Data analytics provider Verisk has agreed to acquire BuildFax, a firm specialising in property condition and history data, from its shareholders. Following the acquisition, BuildFax will become part of ISO, a Verisk business. BuildFax uses building permit, contractor, and inspection data to provide information about the condition of properties to re/insurers and ... Read the full article
Liberty Mutual completes takeover of select AmTrust European businesses
3rd October 2019
Liberty Mutual Insurance has announced that it has completed the acquisition of the business and operations of certain European businesses of AmTrust Financial Services, following the satisfaction of customary closing conditions. Under the transaction, Liberty Mutual Insurance has acquired the operations of Nationale Borg, Nationale Borg Reinsurance, and AmTrust Insurance Spain. Read the full article
Canopius wraps up Lloyd’s merger with AmTrust
3rd October 2019
Global specialty re/insurer Canopius Group has completed its previously-announced merger with AmTrust's Lloyd's operations. The merger between Canopius Lloyd’s Syndicate 4444 and AmTrust Syndicate 1861 was first announced back in April and will result in the establishment of a top-five Lloyd’s insurer with combined premiums of roughly £2.2 billion. It is believed ... Read the full article
AmWINS Group to acquire specialty general agent Stealth
2nd October 2019
Global specialty insurance provider AmWINS Group is set to acquire Stealth Partner Group, an Arizona-based general agent specialising in medical stop-loss insurance. Under the terms of the agreement Stealth will combine with AmWINS subsidiary Stop Loss Insurance Services in early 2020. The move is designed to create a premier stop-loss general agency ... Read the full article
Assured Guaranty finalises takeover of BlueMountain
2nd October 2019
Assured Guaranty, the financial guaranty insurer, has announced that its subsidiary, Assured Guaranty US Holdings Inc. (AGUS), has completed the acquisition of alternative asset management firm BlueMountain Capital Management, LLC. The deal closed on substantially the same terms as when it was originally announced in August 2019, for a purchase ... Read the full article
HW Kaufman acquires cyber MGA Node International
30th September 2019
HW Kaufman Group, the parent company of wholesale brokerage and managing general underwriter Burns & Wilcox has acquired Node international, a managing general agent focused on cyber-risk and technology-related insurance solutions. The deal marks the group’s 20th acquisition in nine years and has been described by Chairman, President and Chief Executive ... Read the full article
More industry change in next three years than previous 30, says Hearn
27th September 2019
Chief Executive Officer for BGC Insurance Group, Steve Hearn, is anticipating more change to take place across the re/insurance industry in the next three years than in the previous 30. Speaking recently with Reinsurance News, Hearn added that after 330 years in existence, the industry is undergoing massive, technology-driven changes to ... Read the full article
Risk Strategies acquires safety management firm Pro Safety Services
26th September 2019
US insurance brokerage and risk management firm Risk Strategies has announced that it plans to acquire Pro Safety Services, LLC, a provider of safety and loss control services to construction companies, builders, and other industries. Founded in 1999 by its current president John McCarthy, Pro Safety Services offers a range of ... Read the full article
AXA XL promotes two underwriters within M&A insurance team
26th September 2019
Global re/insurer AXA XL has promoted Michelle Jensen and Pietro Tarone to the roles of senior underwriter and underwriter, within its mergers and acquisitions insurance team, respectively. The promotions of Jensen and Tarone, both of whom will be based in New York, reflect AXA XL’s continued focus on M&A insurance solutions. Jensen ... Read the full article
Everest Insurance announces buyout of Salus Systems
26th September 2019
Everest Insurance, a division of global reinsurer Everest Re Group, has purchased the remaining shares of its joint venture partner Salus Systems. Salus was founded in 2017 and develops and markets ZERO, a collaborative safety management platform for the insurance industry. The interactive platform is designed to enrich the safety environment of ... Read the full article
Price Forbes acquires stake in HK broker Sino
25th September 2019
Independent Lloyd's of London insurance broker Price Forbes has purchased a minority stake in Hong Kong-based Sino Insurance and Reinsurance. Since its founding in 2006, Sino has focused on providing risk management and insurance solutions for Chinese multinational companies’ overseas investments and infrastructure construction, engineering, project management, and various aspects of ... Read the full article
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