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.
Brown & Brown acquires Innovative Risk and LSI Lender
16th July 2019
Brown & Brown, Inc. subsidiaries, Brown & Brown Metro, LLC and Brown & Brown of Kentucky, Inc., have acquired substantially all of the assets of Innovative Risk Solutions, Inc. (Innovative) and LSI Lender Services, LLC (LSI), respectively. The acquisition of Innovative was announced by Brown & Brown, Inc.'s Chief Acquisitions Officer, ... Read the full article
Risk Strategies acquires trucking and transportation specialist, Winter Group
16th July 2019
U.S. domiciled broker and risk management company, Risk Strategies, has acquired trucking industry-focused specialty insurance program manager, Winter Group, Inc. The takeover adds transportation industry expertise to Risk Strategies' wholesale operations. Winter Group, a transportation wholesaler that provides national insurance solutions for "virtually all facets" of both the trucking and transportation sector, ... Read the full article
B.P. Marsh to acquire 36% stake in Agri Services
15th July 2019
Venture capital provider B.P. Marsh & Partners Plc has announced an investment into Sydney-based holding company Agri Services. The deal will see Marsh acquire a 36% equity stake in Agri for an initial cash consideration of AU$1.47m (£817,000), and further consideration of up to AU$1.13m (£628,000) may become payable. In turn, Agri ... Read the full article
$2bn AMP Life sale to Resolution now “highly unlikely”
15th July 2019
Financial services firm AMP says it's “highly unlikely” the previously-announced sale of its life businesses to Resolution Life will go ahead on the current terms, due to challenges in meeting the condition precedent for Reserve Bank of New Zealand (RBNZ) approval. This condition requires RBNZ approval on a change of ... Read the full article
Arthur J. Gallagher acquires Stonehenge Insurance
11th July 2019
Global insurance brokerage Arthur J. Gallagher & Co. has acquired Florida-based Stonehenge Insurance Solutions, terms of the transaction were not disclosed. Stonehenge offers commercial insurance products and consulting services to Professional Employer Organizations (PEOs) and staffing clients throughout the US. The company’s leadership team, Jeff Rendel, Troy Reynolds, Chris O'Connor and their ... Read the full article
Fairfax’s RiverStone acquires NY-based loss adjuster Rockville
11th July 2019
RiverStone, the insurance run-off management firm owned by Fairfax, has announced the acquisition of Rockville Risk Management and ER Quinn Company. Rockville is a New York-based, privately-owned third-party administrator and loss adjusting company that provides claim services to insurers and reinsurers. Following the acquisition, Rockville will continue to operate as an independent ... Read the full article
Hub International acquires the Crichton Group
10th July 2019
Chicago-based global insurance brokerage Hub International has announced the purchase of The Crichton Group (TCG). TCG is an independent, full-service commercial, employee benefits and personal lines agency based in Nashville, Tennessee. With this acquisition, Hub intends to create a new regional Hub to be called Hub Mid-South, which will include Hub's existing ... Read the full article
Ares launches insurance subsidiary, acquires Pavonia Life
10th July 2019
Alternative asset manager Ares Management Corporation is to expand its existing insurance platform with the launch of Aspida Financial, an indirect subsidiary of Ares. Additionally, Ares has announced the purchase, by Aspida, of Pavonia Life Insurance Company, a Michigan-domiciled insurance company with approximately $1.1 billion of assets and approximately $76 million ... Read the full article
Insurers are showing increasing levels of optimism: Survey
5th July 2019
The quarterly, June 2019 Financial Services Survey from CBI and PwC reveals that insurance companies are increasingly optimistic in light of opportunities to improve customer service and to capitalise on merger and acquisition (M&A) deals. The latest quarterly survey from the pair was conducted between May 14th and June 17th, and ... Read the full article
Hub International acquires Berk Bilgen Insurance
4th July 2019
Chicago-based global insurance broker Hub International has announced the acquisition of Berk Bilgen Insurance (BBI). BBI is an independent insurance brokerage based in Edmonton, Alberta, Canada, offering personal and commercial insurance solutions, including home, auto, life and travel. Within 10 years, BBI has grown considerably under the leadership of Berk and Heather ... Read the full article
SOBC DARAG acquires Vermont-based risk retention group
3rd July 2019
SOBC DARAG, the joint venture between U.S run-off specialist SOBC and European legacy acquirer DARAG, has announced the acquisition of Innovative Physicians Solutions RRG (IPS). IPS, a Vermont-based risk retention group (RRG), was acquired in full effective from July 1, 2019. SOBC DARAG said that it had received approval for the transaction ... Read the full article
Genworth delays China Oceanwide merger to explore sale of Canada business
3rd July 2019
Mortgage insurer Genworth Financial has announced a five-month extension to its planned merger agreement with China Oceanwide Holdings Group Co., Ltd., which will give it time to explore the sale of its Canadian business, Genworth MI Canada Inc. Oceanwide, which had been set to acquire Genworth by June 30, 2019, gave ... Read the full article
Allianz in talks to buy P&C, auto units from Brazilian insurer Sul América
3rd July 2019
Allianz is currently in bilateral talks with Brazilian insurer Sul América S.A. regarding the potential acquisition of its property & casualty (P&C) and auto units. Sul América revealed in a recent securities filing that it had received a nonbinding offer from Allianz and was in the process of discussing a possible ... Read the full article
USI Insurance Services completes acquisition of U.S. Risk
2nd July 2019
USI Insurance Services (UCI) has completed its previously announced acquisition of U.S. domiciled brokerage, U.S. Risk Insurance Group. The terms of the transaction were not disclosed, but it's been revealed that U.S. Risk will keep its Dallas headquarters and will continue to operate independently under its existing brands, U.S. Risk, Oxford, ... Read the full article
Sompo creates Global Transactions Group to manage M&A, joint ventures
2nd July 2019
Bermuda-based specialty re/insurer Sompo International Holdings has created a Global Transactions Group, which will take overall responsibility for all mergers and acquisitions (M&A), intercompany transactions and joint ventures. The group, comprising of senior professionals at Sompo, will be tasked with overseeing both insurance and non-insurance transactions, such as insurtech and healthcare ... Read the full article
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