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.
Brown & Brown acquires Kerxton Insurance
5th March 2018
Brown & Brown has announced that its subsidiary, Brown & Brown Insurance Agency of Virginia, is to acquire the total assets of Kerxton Insurance Agency and Fitness Underwriters (collectively, Kerxton Insurance). Kerxton Insurance generates annual revenues of around $5 million and provides a variety of personal and business insurance products and ... Read the full article
Asta completes sale of Pelican MGA to Manchester Underwriting Management
5th March 2018
Lloyd's third party managing agent, Asta Capital, has announced the completion of the sale of its Pelican Underwriting One Limited managing general agent (MGA) to Manchester Underwriting Management Limited. Pelican was established in 2015 in partnership with reinsurance giant Munich Re, which acted as the MGA's capacity provider. The MGA specialises ... Read the full article
AXA to acquire XL Group for $15.3 billion
5th March 2018
French insurance and investment giant AXA has agreed to acquire 100% of Bermudian insurance and reinsurance firm XL Group Ltd. for $15.3 billion (€12.4bn), to be fully paid in cash. The transaction is subject to approval by XL Group shareholders and other customary closing conditions, and is expected to close in the second-half ... Read the full article
XL Group rumoured as acquisition target of AXA
4th March 2018
The merger and acquisition rumours continue, with the latest being that Bermudian insurance and reinsurance firm XL Group is targeted as a potential purchase by French insurance and investment giant AXA. The news was first reported by Bloomberg on Saturday, who said that talks between AXA and XL Group are at ... Read the full article
PIB Group completes acquisition of Lorica Insurance Brokers
2nd March 2018
PIB Group (PIB) has completed the acquisition of Lorica Insurance Brokers, an independent insurance broker focusing on property, casualty, motor fleet and professional lines. Lorica will continue to be led by joint Chief Executive Officers Stefan Puttnam (who leads the Broking and Finance operations), and Carlo Marelli (who oversees the Operations ... Read the full article
Re/insurance M&A activity is down to lack of organic growth: Morgan Stanley
2nd March 2018
The reason we are seeing a fair amount of mergers and acquisitions (M&A) in insurance and reinsurance sector is down to the fact that organic growth is not getting any easier to find, according to analysts at Morgan Stanley. As a result, the types of mergers or acquisitions being seen are ... Read the full article
Stone Point & Karfunkel-Zyskind Family raise offer for AmTrust
2nd March 2018
Stone Point Capital, the Karfunkel Family and Barry Zyskind Chief Executive Officer (CEO) of AmTrust Financial Services have revealed plans to acquire AmTrust Financial Services for an increased offer of $13.50 per share in cash, a premium increase of 13% compared to their previous proposal. In January, the Karfunkel-Zyskind Family had ... Read the full article
JLT acquires major U.S. broker International Risk Consultants
28th February 2018
Jardine Lloyd Thompson Group plc (JLT) has acquired International Risk Consultants (IRC), a leading U.S. broker specialising in trade credit, single-and-multi-buyer, and political risk insurance. The acquisition will see IRC positioned as a risk specialist within JLT’s global credit, political and security (CPS) risk resources. IRC’s trade credit and political risk specialties ... Read the full article
Swiss Re not counting out M&A, but it has to add value: CEO Mumenthaler
27th February 2018
Reinsurance giant Swiss Re, while carefully assessing a potentially transformational investment from tech giant SoftBank, is also open to mergers and acquisitions, but CEO Christian Mumenthaler explained that M&A deals have to add value. Speaking about the reinsurance firm's annual results last week, Mumenthaler said that any M&A deals it ... Read the full article
Phoenix to acquire £3.24bn insurance business from Standard Life Aberdeen
26th February 2018
The UK’s Phoenix Group has unveiled its plans to acquire the majority of Standard Life Assurance Limited and employee benefits arm Vebnet Limited for a total consideration of £3.24 billion, and to enhance their long-standing strategic partnership with current owners Standard Life Aberdeen (SLA). This transaction sees SLA complete their transformation ... Read the full article
QBE to sell Latin American operations to Zurich
26th February 2018
QBE Insurance Group Limited has announced plans to sell its Latin American operations to Zurich Insurance Group for a total aggregate price of US $409 million. The transaction includes operations in Argentina, Brazil, Columbia, Ecuador and Mexico, and will see Zurich become the leading insurer in Argentina and the third largest ... Read the full article
Allianz to buy remaining 5% of Euler Hermes shares in squeeze-out
23rd February 2018
Allianz has revealed plans to initiate a squeeze-out and delisting of Euler Hermes' remaining 5% of market float share capital and voting rights, in a move that will see the insurer complete plans for 100% ownership of the global trade credit insurer. Allianz intends to file a tender offer in coming ... Read the full article
Swiss Re says “no certainty” SoftBank deal will be consumated
23rd February 2018
Swiss Re said this morning that while it's board is carefully assessing a potential transaction with Japanese tech and telecoms giant SoftBank, there is "no certainty" a common ground will be found and a deal proceed. Swiss Re confirmed recently that it has been in talks with SoftBank about the ... Read the full article
Federated National completes acquisition of Monarch
23rd February 2018
Federated National Holding Company has completed its acquisition of 100% of Monarch National Insurance Company, the primary operating subsidiary of Monarch Delaware Holdings LLC (MDH), held by the Company’s joint venture partners and repayment of the related debt. The firm's subsidiary, Federated National Insurance Company (FNIC), purchased for about US $12 ... Read the full article
WMIH Corp and Nationstar Mortgage enter merger agreement
21st February 2018
WMIH Corp and Nationstar Mortgage Holdings with its flagship brand Mr. Cooper have announced that they have entered into a definitive merger agreement. WMIH Chief Executive Officer (CEO) Bill Gallagher, said; “Nationstar aligns perfectly with our acquisition strategy and has a strong track record of providing mortgage servicing and loan and ... Read the full article
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