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.
FedNat to purchase 1347’s insurance operations for $51m
26th February 2019
Florida-based FedNat Holding Company is set to acquire the homeowners insurance operations of 1347 Property Insurance Holdings in a cash and stock transaction valued at approximately $51 million. As per the deal, FedNat will acquire Maison Insurance Company, Maison Managers, Inc., and ClaimCor LLC (collectively, Maison). Maison is a property and casualty ... Read the full article
RTG’s Limehouse acquires Decyber
25th February 2019
Limehouse Agencies, the managing general agency (MGA) subsidiary of RFIB’s Risk Transfer Group Limited (RTG), has acquired the online specialist sport and leisure resilience firm Decyber. This acquisition forms part of RTG’s new corporate strategy first outlined in May 2018 that aims to increase revenue from approximately £50 million to ... Read the full article
SCOR sues Barclays, demands access to Covéa acquisition docs
25th February 2019
French reinsurer SCOR has gone through with it’s plans to prosecute Barclays, who acted as the financial advisor and financing bank to Covéa during its failed attempt to acquire SCOR in 2018, according to reports from the Financial Times. SCOR previously announced that it intended to sue Covéa and its ... Read the full article
Aquiline Capital announces takeover of broker Relation Insurance Services
22nd February 2019
Aquiline Capital Partners LLC, a private equity firm that invests in financial services and technology, has announced that it's to acquire U.S. independent insurance brokerage Relation Insurance Services from private equity firms Parthenon Capital and Century Equity Partners. Founded in 2007, Relation Insurance specialises in numerous industries, including agribusiness, education, employee ... Read the full article
GTCR acquires broker AssuredPartners from Apax VIII
21st February 2019
Apax VIII is to sell its entire stake in U.S. insurance brokerage AssuredPartners to an investor group led by Chicago-based GTCR, which actually owned the broker from its inception in 2011 before its sale to Apax VIII in 2015. The deal reunites previous backer GTCR with AssuredPartners roughly four years after ... Read the full article
Former Aspen CEO to receive $10m bonus following takeover
20th February 2019
Christopher O’Kane, former Head of Aspen Insurance, is to receive a transaction bonus totalling $10 million following the recently-completed acquisition of the company by affiliates of certain Apollo investment funds. O’Kane is reportedly being paid this bonus for his efforts in assisting the company to consummate the deal. Additionally, Group Chief ... Read the full article
Cohen & Co. targets re/insurance & insurtech acquisitions under Butler
20th February 2019
Cohen & Company, LLC, a fixed income financial services specialist with over $3 billion under management, is seeking to raise capital for what is termed a blank check company that will target acquisitions in the insurance, reinsurance and insurtech space under the leadership of John Butler. Cohen & Company hired ... Read the full article
Beecher Carlson acquires retail estate broker Pipino
18th February 2019
Beecher Carlson, a subsidiary of Insurance brokerage Brown & Brown, has acquired certain assets of Donald P. Pipino Company (Pipino). The portion of the Pipino’s operations acquired by Brown & Brown has annual revenues of roughly $11 million. Pipino is a real estate risk management and insurance firm led by Mary Pipino ... Read the full article
Ryan Specialty acquires independent brokerage Myron Steves
18th February 2019
International specialty insurer Ryan Specialty Group has reached an agreement to purchase the assets and operations of Myron F. Steves & Company, a Houston-based independent wholesale insurance brokerage. This deal will see the Myron Steves team integrated into RT Specialty, a wholesale broker unit of Ryan Specialty, expanding the firm’s presence ... Read the full article
POP Insurance partners with Rakuten on Japan M&A offering
18th February 2019
Sydney-based specialist insurance group POP Insurance Holdings and its subsidiary, Fusion Specialty M&A MGA, have entered a strategic partnership with Rakuten General Insurance to focus on mergers and acquisitions (M&A) transactions in Japan. The partnership is offering a full suite of transaction insurance solutions to serve the growing Japanese private equity ... Read the full article
Apollo completes Aspen acquisition
15th February 2019
It's been announced that affiliates of certain Apollo investment funds have completed the previously announced takeover of Aspen Insurance Holdings, following the receipt of regulatory approval. In August 2018, it was revealed that Apollo Funds had entered into a definitive agreement to acquire Bermuda-based insurer and reinsurer Aspen. This was followed by ... Read the full article
Ryan Specialty Group to acquire wholesale broker Westphalen
14th February 2019
Ryan Specialty Group has agreed to acquire the assets and operations of Westphalen Insurance Services Inc., an independently owned wholesale insurance brokerage located in Edmond, Oklahoma. The Westphalen team will become part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, and will establish the company’s presence in Oklahoma. Founded ... Read the full article
M&A surge to diminish amid mounting political uncertainty: Clyde & Co
13th February 2019
The global insurance industry saw Mergers and Acquisitions (M&A) surge 9% in 2018 to 382 deals, marking three consecutive six-month periods of growth for the first time since 2009, according to a report from law firm Clyde & Co. The Americas remained the most active region for M&A with 189 deals ... Read the full article
Ryan Specialty Group to acquire International Specialty Insurance Services
13th February 2019
Ryan Specialty Group has announced that it plans to acquire the assets and operations of International Specialty Insurance Services Inc. (ISI), an independently owned managing general underwriter. Based in Winston-Salem, North Carolina, ISI offers high-value disability and related insurance products to athletes, entertainers, physicians, and other high-earning professionals. Following the acquisition, ISI’s ... Read the full article
USI Insurance Services acquiring broker U.S. Risk
13th February 2019
USI Insurance Services (USI) is set to acquire property and casualty program and specialty brokerage firm U.S. Risk Insurance Group (U.S. Risk) for an undisclosed sum. U.S. Risk said that it has entered into an agreement to be acquired by broker and consultancy USI, resulting in a transaction that is expected ... Read the full article
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