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.
Slovenia’s Sava Re acquires Serbian construction insurer
12th March 2018
Sava Re, a leading Slovenian re/insurer, has announced that it has acquired the majority shareholding in rival insurer Energoprojekt Garant a.d., Begrade for an undisclosed sum. Parent company Energoprojekt Holding a.d., Belgrade offered to sell Slava Re 93% of the shares in its insurance subsidiary, which specialises in construction and liability ... Read the full article
AXA will buy more reinsurance to reduce XL risks, says CEO Buberl
9th March 2018
In a recent analyst call, AXA Chief Executive Officer (CEO) Thomas Buberl suggested that the company will reduce the risks attached to the newly acquired XL by buying more reinsurance. This week AXA announced plans to acquire XL Group Ltd. for $15.3 billion, and this latest statement offers some indication ... Read the full article
Re/insurance M&A trend to persist in 2018: Clyde & Co
9th March 2018
The global insurance merger & acquisitions (M&A) growth trend was back on the uptick in the second-half of 2017 after a slow start to the year, and 2018 so far has seen the trend continue with the closure of major deals including AXA's acquisition of XL for $15.3 billion. The ... Read the full article
Canopius acquired by private equity consortium led by Centerbridge Partners
9th March 2018
Canopius has announced its completed acquisition by a private equity consortium that is led by Centerbridge Partners, L.P., and which includes private investment entity Gallatin Point Capital LLC. After receiving all necessary regulatory approvals to complete the deal, Canopius is again a standalone business that is led by Chairman, Michael Watson ... Read the full article
Tailwinds to further drive up earnings for P&C re/insurers: Morgan Stanley
9th March 2018
P&C re/insurers are set for a profitability boost in 2018, driven by tailwinds of further rate improvements and M&A activity and deals that are spurred by the passage of the U.S. tax reform, according to Morgan Stanley. A net pricing increase of just 1-5% is expected to boost re/insurers earnings on ... Read the full article
Sanlam acquires SAHAM Finances in $1bn deal
8th March 2018
South African life insurer Sanlam Ltd has announced plans to acquire the remaining 53.4% stake in SAHAM Finances, the insurance subsidiary of SAHAM Group, in a US $1.05 billion acquisition deal. Sanlam already owns a 46.6% stake in SAHAM Finances, and the companies have been partners since February 2016. With a market ... Read the full article
MassMutual International sells 85% of Japan operations to Nippon Life
8th March 2018
MassMutual International LLC, the international insurance holding company of Massachusetts Mutual Life Insurance Company, has announced a deal in which it will sell roughly 85.1% of its Japanese life insurance and wealth management affiliate to Nippon Life for US$935 million in cash. The transaction with Nippon Life, Japan’s largest life insurer, ... Read the full article
Rating agencies turn negative on AXA, positive on XL
7th March 2018
The major rating agencies have unanimously decided to place AXA's ratings on a negative watch following the news of its planned acquisition of Bermudian insurance and reinsurance firm XL Group. At the same time, the rating agencies are positive on XL's ratings and even suggest they may be upgraded as a ... Read the full article
U.S. Risk Insurance Group acquires L.A. Xcess Brokers
6th March 2018
U.S. Risk Insurance Group has announced the acquisition of L.A. Xcess Insurance Brokers, a Los Angeles, California based wholesale broker focused on the entertainment industry. Randall Goss, Chief Executive Officer (CEO) of U.S. Risk, said: "We are very pleased to add L.A. Xcess to the U.S. Risk team focused on the ... Read the full article
DARAG completes IKANO Försäkring deal
6th March 2018
DARAG Group Limited has announced the completion of its acquisition of the total shares of Swedish captive insurance company IKANO Försäkring AB, a subsidiary of IKANO Group. IKANO gains legal and economic finality from this deal in relation to its insurance business, and has already received approval from the Swedish Financial ... Read the full article
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
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