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.
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
SoftBank seeking board seats at Swiss Re: Report
19th February 2018
According to the FT, the ongoing discussions between Japanese technology, telecommunications and investment giant SoftBank and its target investment reinsurance firm Swiss Re, include the former taking "multiple" board seats in the latter. Just over ten days ago the news emerged that Swiss Re is in what were termed advanced ... Read the full article
Allianz grows Euler Hermes shareholding to 92.43%
15th February 2018
Allianz Group has increased its shareholding in credit insurer Euler Hermes to 92.43% after acquiring an additional 29.43% of Euler Hermes' share capital in a total investment of about €1.5 billion. The insurance giant announced last year that it was looking to gain 100% ownership of Euler Hermes, and filed Read the full article
Market conditions suggest continued re/insurer M&A interest in 2018: Fitch
14th February 2018
Fitch Ratings is anticipating continued interest in merger and acquisition (M&A) activity among insurers and reinsurers in 2018, driven by ongoing competition, the impacts of the U.S. tax reform, and the effects of catastrophe losses in 2017. Fitch said that AIG's announced $5.6 billion takeover of Validus could foreshadow further ... Read the full article
Kemper to acquire Infinity in $1.4 billion merger deal
14th February 2018
Kemper Corporation has entered into a merger agreement to acquire auto insurer Infinity Property and Casualty Corporation in a cash and stock transaction, valued at approximately $1.4 billion. The implied total consideration is about $1.3 billion, or $121.01 per Infinity share. Infinity is a provider of auto insurance focused on serving the ... Read the full article
Could SoftBank investment fund Swiss Re / XL deal? – KBW
14th February 2018
Following news that global reinsurer Swiss Re is in talks with SoftBank over a minority investment in the reinsurer, and rumours that XL Group is an M&A target for large re/insurers, analysts at Keefe, Bruyette & Woods (KBW) have questioned the potential for a deal between Swiss Re and XL ... Read the full article
Ryan Specialty acquires Lodestar Marine P&I MGA from Tawa
13th February 2018
Chicago-based Ryan Specialty Group LLC (RSG) has announced that it's agreed to acquire Lodestar Marine Ltd. from Tawa Associates Ltd. for an undisclosed fee. Lodestar is a London domiciled managing general agent (MGA) focused on the protection & indemnity (P&I) fixed premium marine sector, and under the transaction will become part ... Read the full article
Nexus acquires D&O and FI MGA, Apsley Specialty
13th February 2018
Specialty managing general agent (MGA) Nexus Group has completed the acquisition of registered and approved Lloyd's of London Coverholder, Apsley Specialty Limited. Apsley Specialty was launched in 2012 and has a focus on the asset management sector, particularly alternative asset managers, and has become a specialist in Directors & Officers and Financial Institutions ... Read the full article
Peak Re takes minority investment from Prudential Financial
13th February 2018
Hong Kong based reinsurer Peak Reinsurance Company Limited (Peak Re) said this morning that it has taken a minority investment from a subsidiary of U.S.-headquartered Prudential Financial, Inc. The transaction has been achieved through the issuance of new shares in Peak Re, with Prudential Financial taking 13.1% of the reinsurer as ... Read the full article
M&A trend leans towards finding “parental protection”: A.M. Best
12th February 2018
Three years ago the market was rife with merger and acquisition (M&A) transactions aimed at scale and market footprint building, however, the trend now for M&As appears to be leaning toward finding a home in a larger organisation, according to A.M. Best's recent market report on the U.S. property/casualty space. In ... Read the full article
SoftBank investment in Swiss Re would be credit positive: Moody’s
12th February 2018
According to rating agency Moody's, a minority investment from technology, telecommunications and investment giant SoftBank would be credit positive for reinsurer Swiss Re. The news broke last week that Swiss Re and Japanese tech conglomerate SoftBank have been in talks discussing a minority investment in the reinsurer. An intriguing proposition, as ... Read the full article
XL Group cited as M&A target for large re/insurers: Reports
8th February 2018
According to Bloomberg, XL Group the Bermudian parent company of global insurance and reinsurance brand XL Catlin, is a target for M&A, with Allianz and other major re/insurers said to be showing interest. XL Group is perhaps the largest Bermudian re/insurer and its global diversification makes it an attractive target for ... Read the full article
Swiss Re in talks with SoftBank Group over investment stake
8th February 2018
Zurich headquartered reinsurance giant Swiss Re is in talks with Japanese tech conglomerate and telecommunications specialists SoftBank Group over a minority investment in the reinsurer, the company confirmed late yesterday. The Wall Street Journal broke the news, saying that Swiss Re is in advanced talks to sell SoftBank what could be ... Read the full article
Bermuda to attract M&A and start-up activity in 2018: Fitch Ratings
5th February 2018
Fitch expects further Bermuda M&A activity in 2018 as entities seek out ways to manage the challenges of the continued competitive market environment under the additional strain of the recent catastrophe losses. Bermuda market M&A has often centered on non-Bermuda companies buying into Bermuda as a way to deploy capital abroad and ... Read the full article
Optimism over bottoming out of reinsurance rates could be “foolhardy”: A.M. Best
2nd February 2018
Some re/insurance industry experts and analysts have been extolling the much awaited possibility of a bottoming out of the re/insurance pricing cycle after record-setting 2017 losses and ensuing uptick in some January 2018 rates, A.M. Best however called long-term optimism "foolhardy" given the abundant levels of reinsurance capacity. The rating agency ... Read the full article
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