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.
Endeavour names Howden’s Karen Allen as CEO designate following SSL merger
10th July 2018
Lloyd’s broker and delegated authority specialist Endeavour Insurance Services has named Karen Allen as Chief Executive Officer (CEO) designate, who will join the business in October, 2018, following Endeavour’s recently announced merger deal with SSL Insurance Group. Allen will also take up the position of Group Managing Director, and will ... Read the full article
Liberty Specialty continues European expansion with Ironshore move
10th July 2018
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance (LMI), is to take on Ironshore’s European non-M&A business and staff as the firm continues its expansion efforts on the continent. LMI had previously acquired the global specialty insurer in 2017 for a reported $2.935 billion. The move will see Ironshore’s locally ... Read the full article
AXA Liabilities Managers acquires Gothaer Re run-off portfolio
10th July 2018
AXA Liabilities Managers has acquired the reinsurance portfolio of Gothaer Group, which has been in run-off since Gothaer Re ceased trading in 2004. The deal was confirmed following approval by the German Federal Financial Supervisory Authority on June 26, with Guy Carpenter having supported Gothaer at all stages in the transaction process. Guy ... Read the full article
Monument Re acquires Dutch closed life insurer, Robein Leven
9th July 2018
Reinsurer Monument Re has announced the acquisition of Robein Leven N.V. and its subsidiaries from Amerborgh Financial Services B.V. The Bermuda domiciled reinsurance company's acquisition of the Netherlands-based closed life insurer, Robein Leven, will follow satisfaction of customary closing conditions, which includes the receipt of regulatory approvals. Chief Executive Officer (CEO) of Monument ... Read the full article
Generali sells German life insurance unit to Viridium Group
5th July 2018
Italian insurance giant Generali Group has announced the sale of its German life insurance unit Generali Leben to consolidation platform Viridium Group in a deal valued at up to €1 billion, with total estimated cash-in up to approximately €1.9 billion. The announcement follows reports last year of Generali looking to offload ... Read the full article
AFL acquires majority stake in UK employer protection MGA
3rd July 2018
AFL Insurance Brokers Ltd, the independent Lloyd’s broker, has acquired a controlling stake in specialist employer protection Managing General Agency (MGA) Concordia Employment Services Limited, for an undisclosed sum. Based in London, Concordia has been supporting UK employers by managing risks and exposures related to workplace disputes since its launch in ... Read the full article
Zurich completes Oak Underwriting takeover
3rd July 2018
Global insurer Zurich has completed the acquisition of Oak Underwriting from RSA Insurance, enhancing the company's high net-worth proposition, known as Zurich Private Clients. The insurer's purchase of Oak Underwriting, a high net-worth specialist insurer, makes Zurich one of the largest high net-worth insurers in the UK, and provides it with ... Read the full article
Allianz says major M&A deals are not on the horizon
29th June 2018
Insurance giant Allianz has denied that it has ambitions to complete a major merger or acquisition (M&A) deal, saying that no deals are on the horizon. Allianz also said at a day for investors and analysts held this week that they are not in discussion with any of the companies Read the full article
Insurers hopeful M&A will transform their business models: KPMG report
28th June 2018
A large number of global insurance industry executives are actively looking at acquisitions and partnerships in an effort to offset limited organic growth opportunities in an increasingly competitive landscape, which is being transformed by technological advances. This is according to the findings of a recent survey and accompanying report conducted by ... Read the full article
Re/insurers increasingly favour cross-border M&A deals: KPMG
27th June 2018
Re/insurance executives are actively pursuing mergers and acquisitions (M&A) deals to overcome sluggish industry growth, with companies increasingly looking for opportunities outside their country of domicile, according to financial advisory firm KPMG International. KPMG recently surveyed 200 global re/insurance industry executives, finding that 80% were expecting to seek between one and ... Read the full article
Tokio Marine prepares for further acquisitions with $9bn available capital
26th June 2018
Tokio Marine Holdings, one of Japan’s most acquisitive re/insurance companies, is reportedly looking to boost its profits by scouting for further deals in Asia and overseas with up to $9 billion in available capital, according to Reuters. Tsuyoshi Nagano, Chief Executive of Tokio Marine, told Reuters that the firm would have ... Read the full article
Marsh expands Texas operations with Wortham Insurance acquisition
25th June 2018
Global insurance and reinsurance broker Marsh has announced that it will acquire Houston-based independent insurance brokerage, Wortham Insurance. An agreement has now been reached between the two companies and the deal is expected to close in the third-quarter of this year, although terms of the transaction were not disclosed. Wortham has over ... Read the full article
Willis Towers Watson CEO eyes new deals
25th June 2018
Willis Towers Watson's Chief Executive Officer (CEO), John Haley, has told the Financial Times he is considering taking on new deals, three years after an $18 billion merger created the Company. It was in 2015 that Willis merged with Towers Watson and came shortly after Willis had purchased French broker Gras ... Read the full article
Sirius Group to go public via merger agreement with Easterly
25th June 2018
Sirius International Group, a global multi-line insurance and reinsurance group, has entered a merger agreement with Easterly Acquisition Corp. for a proposed business combination that would result in Sirius becoming a publicly listed company. Under the terms of the agreement, Easterly would merge with a subsidiary of Sirius Group to become ... Read the full article
AmTrust stockholders approve amended merger deal
22nd June 2018
AmTrust Financial Services has announced that its stockholders have approved its proposed merger transaction with Evergreen Parent, L.P. for the amended offer price of $14.75 per share in cash for all outstanding shares. Evergreen Parent L.P. is an entity formed by private equity funds managed by Stone Point Capital LLC, together ... Read the full article
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