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.
Beat Capital to merge with Paraline UK
23rd August 2018
It's been announced that Beat Capital Partners and Paraline UK are to merge in order to enhance and further build Beat's platform in an effort to support independent underwriting businesses. Following the merger, Beat, a Bermuda domiciled insurance holding company, will join Neon Holdings Ltd. as a strategic investment partner of ... Read the full article
Enstar boosts acquisition war chest with enlarged $1bn credit facility
22nd August 2018
Bermuda based insurance, reinsurance, run-off and legacy transaction specialist Enstar Group Limited has boosted its acquisition war chest with the signing of a new credit facility that can provide up to $1 billion of capital. The arrangement sees Enstar Group and certain subsidiaries enter into a five year unsecured $600 million ... Read the full article
The Hartford announces $2.1 billion acquisition of Navigators
22nd August 2018
The Hartford has agreed to acquire all the outstanding common shares of The Navigators Group, Inc., in an all-cash transaction valued at $2.1 billion, or $70 per share. The Board of Directors of both companies have approved the deal, but it remains subject to approval by the shareholders of Navigators and ... Read the full article
R&Q Malta signs three new underwriting partnerships with European MGAs
16th August 2018
R&Q Insurance (Malta) Ltd, a wholly-owned European subsidiary of Randall & Quilter Investment Holdings Ltd. (R&Q), has signed three new underwriting partnerships with European MGAs. The new program underwriting arrangements are with Futura, a Spanish MGA that specialises in surety bonds; Inspire, a UK domiciled MGA that offers private motor insurance; and ... Read the full article
Helios Underwriting moves to acquire Fyshe at discounted rate
15th August 2018
Helios Underwriting plc has announced a conditional agreement to acquire Fyshe Underwriting, a limited liability member of Lloyd’s of London, for a cash consideration of £68,630. The consideration represents a 38% discount of the £111,526 independent valuation placed on Fyshe by Humphrey's. Helios, who had previously announced a strategy to increase underwriting ... Read the full article
Reinsurers are changing their business models in pursuit of relevancy, says report
14th August 2018
There is a “seismic shift underway in the reinsurance market” as reinsurers look to stay relevant by altering their business models, says Andrew Holderness, Clyde & Co’s Global Head of Corporate Insurance. Commenting in Clyde & Co’s insurance growth report, Holderness said, “It is proving increasingly difficult to remain relevant as a ... Read the full article
Ping An considers acquisition of Prudential’s Asia business
14th August 2018
Ping An Insurance, China’s largest insurer by market value, is considering an acquisition of Prudential Plc’s Asia business, according to sources at Bloomberg. The move would allow Ping An to expand into new insurance markets from Singapore to Indonesia, and would bring it into competition with international companies such as AIA ... Read the full article
Bain Capital & esure reach agreement on £1.21bn takeover
14th August 2018
The Independent Directors of esure have reached an agreement with the board of Bidco, a wholly-owned subsidiary of funds advised by Bain Capital Private Equity, LP, and its affiliates, on the terms of an all cash offer for the entire issued and to be issued share capital of esure by ... Read the full article
Bain Capital in discussions to acquire UK insurer esure
14th August 2018
After receiving an unsolicited acquisition offer from U.S. domiciled private multi-asset alternative investment firm, Bain Capital Private Equity, LP and its affiliates, UK insurer esure Group is considering a possible deal. According to a recent announcement, the Board of esure Group notes the recent positive movement in the company's share price ... Read the full article
Suncorp to sell Australian life insurance business for $725mn
10th August 2018
As part of its FY18 results, Suncorp has announced that it has entered into a non-binding Heads of Agreement to sell its Australian life insurance business to TAL Dai-ichi Life Australia for approximately $725 million. As part of the proposed transaction, Suncorp will enter into a 20-year strategic alliance agreement with ... Read the full article
Symbo acquires ReLeague InsurTech, adds reinsurance to its offerings
7th August 2018
Symbo, a Singapore-based all lines insurer, has acquired Mumbai-based B2B reinsurance software platform ReLeague in a deal that adds reinsurance to its current offerings in direct insurance, reports BW Disrupt. The acquisition sees Symbo - a technology-driven business backed by former Sequoia Partner Yinglan Tan’s Insignia Ventures and Dymon Asia Ventures ... Read the full article
Starr Insurance to acquire Aspen’s aviation business
7th August 2018
Starr Insurance Companies has announced that it has entered into an agreement to acquire the renewal rights of Aspen Insurance’s aviation business. Under the terms of the agreement, Starr will manage all underwriting and claims administration on current business, in addition to managing the run-off of Aspen’s aviation claims and reserves ... Read the full article
AXA to sell Life Europe platform to Cinven for €1.2bn
2nd August 2018
AXA Group has entered into an agreement with global private equity firm Cinven for the potential sale of AXA Life Europe (ALE), the company’s Ireland-based Variable Annuity products platform, for €1.2 billion (US $1.4 billion). The total cash proceeds for the sale of ALE, which has been closed to new business ... Read the full article
Marsh completes purchase of Wortham Insurance
2nd August 2018
Global insurance and reinsurance broker Marsh has completed its previously announced acquisition of Houston-based independent insurance brokerage Wortham Insurance. Marsh originally announced in June 2018 that it planned to acquire the Texan broker, which has 530 colleagues based across its offices in Austin, Dallas, Fort Worth, Houston, and San Antonio, ... Read the full article
Ryan Specialty Group acquires ARC Specialty Brokerage assets
1st August 2018
Ryan Specialty Group (RSG) is to buy certain assets of ARC Specialty Brokerage, the property/casualty (P&C) division of wholesale insurance broker ARC Excess & Surplus. Terms of the transaction were not disclosed. ARC Specialty’s Mike Vollaro, a wholesale brokerage professional and specialist in New York construction, will join RT Specialty, the wholesale ... Read the full article
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