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.
Enstar’s Maiden Re acquisition to include reinsurance arrangement
5th September 2018
As part of its $307.5 million acquisition of Maiden Re North America, which was announced last week, Enstar Group Limited will enter into a reinsurance agreement with Maiden Re via Enstar’s subsidiary, Cavello Bay Reinsurance Limited. The transaction will see Cavello and Maiden Re enter into a novation agreement and ... Read the full article
General Atlantic’s Verivox acquires digital broker unit of Getsafe InsurTech
5th September 2018
Verivox, the co-owned price comparison site of equity firm General Atlantic, has acquired the insurance broking unit of Getsafe, a German InsurTech start-up backed by Munich Re. Integrating Getsafe’s technology will allow over 8 million Verivox customers to manage all of their insurance policies on Getsafe’s web or mobile app, the ... Read the full article
SCOR denies rumour of PartnerRe talks
4th September 2018
SCOR is under the microscope today, with press rumours now circulating following the initial reveal that mutual insurance group owner Covéa had approached the firm with an acquisition offer, which SCOR turned down. SCOR quickly said that its Board decided to decline the approach from insurance group Covéa as it ... Read the full article
Munich Re acquires tech firm relayr in IoT push
4th September 2018
Global reinsurance giant Munich Re has announced that via its subsidiary Hartford Steam Boiler (HSB), it has acquired technology company relayr, of which it will hold 100% of the shares upon completion. relayr is valued at $300 million, and offers industry participants end-to-end solutions in the area of the Internet of ... Read the full article
SCOR finds Covéa offer “fundamentally incompatible” with strategy
4th September 2018
French reinsurer SCOR said that its Board decided to decline the approach from insurance group Covéa as it is "fundamentally incompatible with SCOR's strategy of independence." Earlier today it came to light that SCOR had been approached by French insurance group Covéa, which had offered the reinsurer a "friendly merger" ... Read the full article
SCOR turns down acquisition offer from Covéa
4th September 2018
French reinsurance firm SCOR, one of the largest reinsurers in the world, has turned down an acquisition approach from independent French insurance group Covéa. Covea already has a stake in SCOR of just over 8% and the firm had been looking to take out the rest of the reinsurer in a ... Read the full article
Enstar to acquire Maiden Re North America for $307.5mn
31st August 2018
Bermuda based insurance, reinsurance, run-off and legacy transaction specialist Enstar Group Limited has announced that it has entered into an agreement to acquire Maiden Re North America from a subsidiary of Maiden Holdings for a total consideration of $307.5 million. Domiciled in Missouri, Maiden Re North America is a diversified insurance ... Read the full article
Markel Corporation buying Nephila Capital, world’s largest ILS manager
31st August 2018
It's been announced that Markel Corporation is to acquire all of the outstanding shares 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 ... Read the full article
Mitsui Sumitomo increases shareholdings in Sri Lanka’s Ceylinco Group to 15%
31st August 2018
Mitsui Sumitomo Insurance Co., Ltd. (MSI), a member of MS&AD Insurance Group, has acquired an additional 9% of common stock in Ceylinco Insurance PLC, the largest insurance group in Sri Lanka, for approximately 3 billion rupees (US $42 million), increasing its total shareholdings to 15%. MSI originally invested in Ceylinco Group, ... Read the full article
Amendment made to Sirius Group & Easterly merger agreement
31st August 2018
Sirius International Group, a global multi-line re/insurance group, has announced an amendment to its previously-confirmed merger agreement with Easterly Acquisition Corp. The merger, first revealed on June 25, was to see Easterly combine with and become a wholly-owned subsidiary of Sirius Group, which would become a publicly listed company. The amendment ... Read the full article
Allstate to acquire identity protection firm InfoArmor for $525mn
28th August 2018
The Allstate Corporation, one of the largest primary insurers in the U.S, has entered into an agreement to acquire InfoArmor, an Arizona-based provider of employee identity protection, for an all-cash consideration of $525 million. Headquartered in Scottsdale, Arizona, InfoArmor is a privately held company that provides identity protection to more than 1 ... Read the full article
Aspen confirms acquisition by Apollo for $2.6bn
28th August 2018
Bermuda-headquartered Aspen Insurance Holdings has confirmed this morning that it is being acquired by funds under management of Apollo Global Management, LLC for $2.6 billion. The fact Aspen has been for sale has been no secret and the insurance and reinsurance firm's sale has been one of the most discussed, while ... Read the full article
Re/insurers weather challenging H1 market with $48bn in M&A deals: S&P
23rd August 2018
Global re/insurers have turned to mergers and acquisitions (M&A) deals to remain relevant in the face of challenging market conditions, with total transaction volume reaching $48 billion during the first half of 2018, according to S&P Global Ratings, although the firm maintains a neutral view on this trend. A recent report ... Read the full article
Brazilian reinsurers Terra Brasis & Austral reported to discuss merger
23rd August 2018
Two domestic Brazilian reinsurance firms are reportedly in merger discussions, with the respective owners of Terra Brasis Re and Austral Re said to be keen on a deal. Austral Re's investment firm owners Vinci Partners have been looking for an exit since the beginning of the year, it's said, while Terra ... Read the full article
Travelers acquires majority stake in FinTech start-up Zensurance
23rd August 2018
The Travelers Companies, Inc. has acquired a majority (60%) stake in Zensurance, a Canadian FinTech start-up that helps businesses find and manage their insurance packages, for a price of roughly CAD $16 million (USD $12.3 million), according to BetaKit. Zensurance’s Chief Executive Officer (CEO) Danish Yusuf and Chief Technology Officer (CTO) ... Read the full article
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