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.
SCOR-PartnerRe combo could produce top-three reinsurer, say analysts
8th February 2019
A potential merger deal between French reinsurer SCOR and Bermuda-based PartnerRe would make strategic sense for both firms and could produce a combined entity that ranks in the top-three global reinsurers, according to analysts at AlphaValue. Rumours about a potential deal between the companies have been circulating since SCOR rejected an ... Read the full article
AIG to launch LatAm Facultative Desk following Talbot integration
7th February 2019
American International Group (AIG) is to launch AIG Facultative Desk, Latin America after successfully integrating Talbot’s regional facultative underwriting platforms in Miami and Santiago with its regional underwriting team. This unified offering follows AIG’s acquisition of Validus last year, a deal which saw the company gain some attractive and diversified franchises ... Read the full article
Japanese insurers to pursue M&A deals in China as regulations change
5th February 2019
Japanese insurance companies are preparing to follow up on recent regulatory changes in China’s financial sector by pursuing a spree of new mergers and acquisitions (M&A) deals in the country, according to sources at Reuters. With $53 billion spent on M&A deals since 2014, Japanese insurers are currently one of the ... Read the full article
The Hartford reveals new operating model for Navigators businesses
5th February 2019
Property and casualty insurer The Hartford has announced a new operating model and organisational structure for its specialty commercial and middle market businesses following the completion of its pending acquisition of The Navigators Group. The new model will integrate Navigators’ operations, as well as The Hartford’s current Specialty Commercial and Middle ... Read the full article
SCOR’s Kessler defends legal actions against Covéa
5th February 2019
Denis Kessler, Chief Executive Officer (CEO) of French reinsurer SCOR, has defended the company’s decision to initiate criminal actions against Covéa and its CEO, Thierry Derez, following the rejection of an €8.2 billion takeover bid last year. The SCOR boss addressed criticism from investors such as Catherine Berjal, CEO of ... Read the full article
Investors question SCOR’s “aggressive” legal dispute with Covéa
4th February 2019
French reinsurer SCOR has faced criticism from activist investors just days after the company announced it intends to initiate criminal actions against Covéa and its CEO, Thierry Derez, following the rejection of an €8.2 billion takeover bid last year. Catherine Berjal, CEO of investment management firm CIAM, penned a letter ... Read the full article
elesco acquires StarStone’s Dubai MGA and Zurich airline & products book
4th February 2019
Specialty underwriting platform elseco has entered into an agreement with global specialty insurer StarStone to acquire Malakite Underwriting Partners Ltd., its Dubai-based managing general agent (MGA), as well as the renewal rights to StarStone's Zurich airline & products portfolio. Under the terms of the strategic partnership, StarStone will continue to provide ... Read the full article
Ryan Specialty seals Boston Insurance purchase
1st February 2019
Chicago-based Ryan Specialty Group, having announced the purchase of independent wholesale insurance brokerage Boston Insurance Specialists (BIS) last week for an undisclosed fee, has completed the deal. A family owned business started in 2001 and led by founders Debbie Murphy and Peggy Giancola, BIS’ specialty product solutions include Property, Casualty, Professional ... Read the full article
BGC Partners completes Ed acquisition
1st February 2019
Global broker and financial technology firm BGC Partners has completed its previously-announced acquisition of Ed, the re/insurance brokerage. The deal sees an expansion of BGC’s insurance division which was established last year after it acquired Besso Insurance Group Limited, a Lloyd’s of London broker with operations in the UK, Brazil and ... Read the full article
M&A levels to continue amid adverse market conditions: JMP Securities
1st February 2019
Mergers and acquisitions (M&A) activity is to continue at heightened levels through 2019 as re/insurers try to find opportunities for growth against a backdrop of adverse market conditions, according to analysts at JMP Securities. JMP explained that consolidation would offer an attractive route to growth for many companies due to ongoing ... Read the full article
Covéa board firmly rejects “groundless” SCOR accusations
31st January 2019
After a statement from Covéa this week put an official end to its hopes of successfully navigating a takeover of SCOR, prompting the latter to pursue legal action, the company’s board of directors have firmly rejected what they describe as groundless acquisitions and reaffirmed its unanimous support for ... Read the full article
SCOR seeks prosecution of Covéa & Thierry Derez
29th January 2019
French reinsurance giant SCOR has announced that it plans to initiate criminal actions against Covéa and its Chief Executive Officer (CEO) Thierry Derez following the rejection of an €8.2 billion takeover bid in August 2018. The acquisition offer from Covéa, which is currently SCOR’s largest shareholder, was labelled as “hostile ... Read the full article
Covéa scraps plans to pursue SCOR deal
29th January 2019
French insurance group Covéa has announced that it has abandoned its plans to pursue an acquisition deal targeting reinsurance giant SCOR. “Covéa takes note of SCOR’s refusal to enter into any discussions in relation to Covéa’s proposed friendly transaction offer addressed on 24 August 2018,” the company said in a statement. “The ... Read the full article
Ryan Specialty acquires assets, operations of Boston Insurance Specialists
25th January 2019
Chicago-based Ryan Specialty Group has purchased the assets and operations of Boston Insurance Specialists (BIS), an independent wholesale insurance brokerage, for an undisclosed fee. BIS’ team will become part of the group’s wholesale brokerage unit, R-T Specialty, in an effort to enhance its presence in New England. A family owned business started ... Read the full article
Protective to reinsure Great-West Life’s individual life & annuity business
24th January 2019
Subsidiaries of Protective Life Corporation (Protective) are set to acquire, via reinsurance, substantially all of the individual life insurance and annuity business of Great-West Life & Annuity Insurance Company (GWL&A). The agreement sees Protective subsidiaries, Protective Life Insurance Company, and Protective Life & Annuity Insurance Company, acquire the business through reinsurance, ... Read the full article
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