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.
DARAG acquires SOBC Services, takes on four in run-off insurers
20th November 2018
DARAG Guernsey has announced that its wholly owned subsidiary, SOBC DARAG Holdings Ltd, has now acquired the entire share capital of SOBC Services in an agreement that will also see it take on four in run-off U.S carriers and a Bermuda-based cell. The announcement follows the formation of SOBC DARAG ... Read the full article
AXA XL acquires full ownership of New Ocean Capital Management
19th November 2018
AXA XL has announced that its reinsurance operation has acquired all third-party ownership interests in New Ocean Capital Management Limited, its majority-owned ILS fund management platform. XL Group founded New Ocean in July 2013 in partnership with private equity fund Stone Point Capital, and later with Japanese conglomerate, Mitsui & Co., Ltd. Having ... Read the full article
Helios to acquire Advantage DCP for up to £1.9mn
16th November 2018
Helios Underwriting plc has revealed plans to acquire Advantage DCP Limited, a limited liability member of Lloyd’s, for a consideration of up to £1.91 million. This consideration could be reduced to £1.66 million dependent on the deterioration of the current 2017 midpoint forecast for Advantage and the final result of that ... Read the full article
Current M&A trends benefit mid-sized players like CCR Re, says CEO Labilloy
15th November 2018
Current mergers and acquisitions (M&A) trends in the re/insurance industry are creating more space for pure reinsurers and medium players like CCR Re to offer improved services to clients, according to Bertrand Labilloy, Chief Executive Officer (CEO) of CCR, the state-back French reinsurer. Speaking in an interview with Reinsurance News, Labilloy ... Read the full article
Markel completes Nephila acquisition
15th November 2018
Markel Corporation has successfully completed its previously-announced its acquisition of Nephila Holdings Limited, the largest manager of catastrophe and weather insurance and reinsurance linked investment funds in the world. Nephila manages $12.2 billion of assets under management (AuM) for a geographically diverse investor base of more than 300 investors. The ... Read the full article
Covéa CEO resigns from SCOR board following takeover attempt
14th November 2018
Thierry Derez, the Chief Executive Officer of French insurer Covéa, has resigned from his position on SCOR’s board following the rejection of an €8.2 billion (US $9.6 billion) takeover attempt in September. SCOR had recently released a statement reaffirming its rejection of Covéa’s “hostile and unfriendly” acquisition offer and called ... Read the full article
Seeman Holtz marks 50th acquisition with insurtech platform purchase
13th November 2018
Seeman Holtz Property & Casualty has marked its 50th acquisition with the purchase of Boston-based online home and auto insurance technology platform, Goji (formerly consumers United). Goji operates an online analytics and data-driven personal lines insurance distribution platform that matches clients’ needs with coverage through an integrated network of over a ... Read the full article
JLT Re Iberia launched after broker buys out Banca March partnership
13th November 2018
JLT Re, the reinsurance broking arm of JLT Group, has reinforced its connection with clients in the Latin America region with the launch of JLT Re Iberia through the acquisition of JLT March Re. Reinsurance broker JLT Re has further invested in its European platform with the launch of JLT Re ... Read the full article
Marsh combines specialty unit with JLT, makes key leadership changes
13th November 2018
Global re/insurance broker Marsh has began the integration process of JLT - which it acquired for $5.6 billion in September - with the formation of Marsh-JLT Specialty, a new specialty business that combines the teams of both businesses. In addition to becoming Vice Chairman of Marsh & McLennan Companies and a ... Read the full article
Brown & Brown acquires Rodman Insurance Agency
13th November 2018
Insurance brokerage Brown & Brown, Inc. has announced that it has acquired substantially all of the assets of Rodman Insurance Agency, Inc., a specialist provider of property and casualty insurance solutions and services to the commercial sector. The deal was announced by Brown and Brown's Chief Acquisitions Officer, Scott Penny, and ... Read the full article
Tokio Marine’s sale of reinsurance units to boost efficiency: Fitch Ratings
12th November 2018
The recent sale of Tokio Marine Holdings’ two European reinsurance subsidiaries is likely to streamline the firm's holdings and boost operational efficiency in the group's underwriting businesses, Fitch Ratings says. Tokio Millennium Re AG and Tokio Millennium Re are both set to be acquired by Bermudian reinsurance company RenaissanceRe following ... Read the full article
Allstate said to be considering fixed-annuities business sale
9th November 2018
Allstate Corporation, one of the largest primary insurers in the U.S, is reportedly considering the sale of its fixed-annuities business, which stopped selling new policies about five years ago, according to sources at Bloomberg. People familiar with the matter said the insurer was working with financial advisers to find buyers for ... Read the full article
Monument Re acquires run-off life portfolio from Enstar’s Alpha Insurance
8th November 2018
Bermudian reinsurer Monument Re has announced the acquisition of a run-off portfolio of traditional life and credit life business from Belgian composite insurer Alpha Insurance S.A., a wholly owned subsidiary of Enstar Group Limited. Monument Re said that the portfolio would be transferred to its Belgian carrier, Monument Assurance Belgium NV, ... Read the full article
AIG completes acquisition of Glatfelter Insurance Group
7th November 2018
Global insurer American International Group (AIG) has completed its acquisition of full-service broker and insurance company Glatfelter Insurance Group. The transaction, which was first announced in September 2018, has closed following receipt of regulatory approvals and satisfaction of other closing conditions. AIG said that it plans to utilise Glatfelter’s specialty programs ... Read the full article
MMC acquisition approved by JLT shareholders
7th November 2018
The shareholders of broker Jardine Lloyd Thompson Group plc have overwhelmingly voted in favour of the firms acquisition by broking and advisory giant Marsh & McLennan Companies, Inc. (MMC). Demonstrating just how much support there was for the acquisition deal, of the shares voted, 99.9% voted in favor of the transaction, ... Read the full article
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