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.
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
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
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