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.
Seeman Holtz strengthens Midwest foothold with First Choice Insurance acquisition
16th May 2018
Seeman Holtz Property & Casualty (SHPC) has continued its expansion into the U.S Midwest with the acquisition of First Choice Insurance Agency, a company headquartered in Poplar Bluff, Missouri. With expertise in Life Insurance, financial services, and the Affordable Care Act, First Choice Insurance has served clients across Missouri for over ... Read the full article
DARAG and New Nordic conduct first transaction under new partnership
14th May 2018
DARAG, the European legacy acquirer, and New Nordic Advisors, a London-based investment management company, are to conduct their first transaction following the formation of a strategic partnership in March 2018. This first transaction will see the partners acquire two portfolios of Qudos Insurance A/S, which New Nordic gained control of ... Read the full article
Gallagher acquires UK commercial insurance broker Risk Services (NW)
11th May 2018
Gallagher has announced that it intends to acquire UK regional commercial insurance broker Risk Services (NW) for an undisclosed consideration. Established in 1999, Risk Services is one of the largest independent insurance brokers in Chester, North Wales, and the surrounding area, and delivers cost-effective solutions to both corporate and commercial clients. Risk ... Read the full article
Zurich finalises $1bn reinsurance commission in takeover of ANZ’s OnePath Life
8th May 2018
Zurich has finalised its reinsurance arrangements with ANZ, paying $1 billion of upfront reinsurance commission as the first step in its acquisition of ANZ’s Australian life insurance business, OnePath Life. The sale of OnePath Life was announced in December 2017 and was arranged to consist of two transactions totalling $2.85 billion. The ... Read the full article
Softbank’s interest in Swiss Re deal reported to be waning
7th May 2018
According to media reports this weekend, Japanese technology & telecoms investor & conglomerate SoftBank's interest in securing a deal with global reinsurer Swiss Re is waning, as talks drag on. As we reported last week, it's been said that Swiss Re’s talks with SoftBank had stalled, which led the CFO ... Read the full article
No clear indication SoftBank talks will result in a transaction: Swiss Re CFO
4th May 2018
While the negotiations between Swiss Re and SoftBank are still ongoing, according to the reinsurance firms CFO John Dacey, there is "no clear indication" that any deal will be struck and the pair are no closer to a deal, but he also wouldn't be drawn on whether talks with other ... Read the full article
Swiss Re talks on SoftBank investment said stalled
2nd May 2018
Talks between reinsurance firm Swiss Re and Japanese technology conglomerate giant SoftBank over a potential investment stake in the reinsurer are said to have stalled, with price, the size of the stake and level of control said to be sticking points. Bloomberg said its sources told the news ... Read the full article
Protective completes $1.2bn reinsurance deal with Liberty Life
2nd May 2018
Protective Life Corporation, a wholly owned U.S subsidiary of Dai-ichi Life Holdings, Inc., has announced that it has successfully completed the acquisition of all the individual life and annuity business of Liberty Life Assurance Company of Boston (Liberty Life) in a reinsurance deal valued at $1.2 billion. Protective entered the ... Read the full article
M&A activity is driving reinsurance demand, says Everest Re CEO
30th April 2018
Dominic Adesso, President and Chief Executive Officer (CEO) of Everest Re, has said that the company has experienced an increase in demand for reinsurance from larger primary insurers, driven by increased mergers and acquisitions (M&A) activity in the sector. Everest Re has also seen cedants increasingly turn to reinsurance solutions to ... Read the full article
Allianz to squeeze-out and delist remaining Euler Hermes shares
25th April 2018
Allianz has announced that it will complete its acquisition of Euler Hermes minorities by implementing a squeeze-out of remaining shares, after which it will delist the company from the Euronext Paris stock exchange. The squeeze-out, which was first announced in February, is scheduled for April 27th, 2018, and will see ... Read the full article
Munich Re open to offer from anchor investor: CEO Wenning
23rd April 2018
At a time when reinsurers have been increasingly under pressure, it seems having major financial backers is becoming increasingly attractive and now reinsurance giant Munich Re is said to be open to having an anchor investor on-board. In an interview with Reuters, Munich Re CEO Joachim Wenning said that he would ... Read the full article
Athora to purchase Generali Belgium for €540mn
19th April 2018
Athora Holding Ltd. has announced an agreement with Italian insurer Assicurazioni Generali S.p.A. to acquire a complete stake in its Belgian subsidiary, Generali Belgium S.A., for a cash consideration of approximately €540 million (US $667mn). Primarily focused on the life segment, Generali Belgium is the 11th largest insurer in Belgium and ... Read the full article
Freedom to acquire St Andrew’s Insurance from Bank of Queensland
18th April 2018
Australian life re/insurer Freedom Insurance Group has entered into an agreement with Bank of Queensland (BOQ) to purchase St Andrew’s Insurance for a total consideration of AUD $65 million (USD $50.58 million), over half of which will be supplied via reinsurance funding. The parties revealed that the transaction is comprised of a ... Read the full article
Sedgwick finalises purchase of Cunningham Lindsey
17th April 2018
Sedgwick Claims Management Services has completed its planned acquisition of Cunningham Lindsey, a global loss adjusting, claims management, and risk solutions firm. The new combined organisation, which includes the subsidiaries of Sedgwick, Vericlaim and Cunningham Lindsey, plans to operate globally under the Sedgwick brand name. The acquisition of Cunningham Lindsey and its ... Read the full article
Generali completes sale of Panama and Colombia operations
16th April 2018
Italian headquartered global insurer Assicurazioni Generali S.p.A. has announced the closing of the sale of both its Panama and Colombia operations, for a consideration of approximately €170 million (US $210mn). Both transactions were originally announced during the second-half of 2017, and are part of the company's strategy to "rationalize its international ... Read the full article
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