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.
Bermuda based Armour Group completes acquisition of Elite
1st February 2018
Bermuda based insurer Armour Group has announced the completion of its acquisition of Elite Insurance Company (EIC) and its affiliate Elite Business Development (EBD). Armour affiliate, Armour Risk Management, is set to assume operational management of Elite along with key members of staff with in-depth knowledge of the business. Elite is an ... Read the full article
Monument Re acquires Aspecta Assurance International Luxembourg
30th January 2018
Monument Re has acquired full ownership of Aspecta Assurance International Luxembourg S.A. (Aspecta), a life insurance undertaking based in Luxembourg with branches in Germany, Italy and Spain. The acquisition also includes Aspecta’s 25% stake in Quality Insurance Services Luxembourg S.à r.l., the principal service provider to Aspecta. Manfred Maske, Group Chief Executive Officer ... Read the full article
Japanese E-commerce group Rakuten to acquire Asahi Fire & Marine Insurance
29th January 2018
Japanese e-commerce group Rakuten is set to acquire Tokyo-based Asahi Fire & Marine Insurance after winning a bid of 44.9 billion yen, or $412 million. Rakuten plans to purchase Asahi's stocks from January 30 through March 13 for an offer price of 2,664 yen per share, and 10,656 yen per preferred ... Read the full article
R&Q acquires Connecticut risk retention group auto liabilities
26th January 2018
Randall & Quilter Investment Holdings (R&Q) has announced the acquisition of auto liabilities from a Connecticut domiciled risk retention group (RRG) to R&Q’s wholly owned A- admitted carrier, Accredited Surety and Casualty Company. Ken Randall, Chairman and Chief Executive Officer of R&Q, said; “we are very pleased to announce our first ... Read the full article
AIG seeks more strategic acquisitions, to offset Validus profits against deferred tax: Report
24th January 2018
Insurer American International Group (AIG) has not finished looking for other potential acquisitions, following the announcement of its $5.56 billion acquisition of Validus, according to a report. The FT spoke with AIG CEO Brian Duperreault who told the newspaper that he would continue to look at opportunities. "To ... Read the full article
Analysts’ commentary suggests AIG / Validus deal is positive, overall
23rd January 2018
Insurance and reinsurance market analysts' comments on AIG's proposed $5.56 billion takeover of Validus Holdings underlines a positive stance on the transaction, with AIG making fundamental changes to its commercial P&C segment and maintaining confidence in previous reserve comments. Following the announcement, AIG management held an investor call, during which ... Read the full article
Potential for AIG to expand in new business segments after Validus takeover
22nd January 2018
AIG management has discussed the firm's proposed takeover of Validus Holdings during a recent investor call surrounding the deal, underlining the potential for growth in new business segments supported by Validus' experienced leadership. Following the announcement of a proposed $5.56 billion acquisition of Validus by AIG, the latter's Chief Executive ... Read the full article
AIG to acquire Validus Holdings for $5.56 billion
22nd January 2018
It's been announced that American International Group, Inc. (AIG) will acquire all the outstanding common shares of Validus Holdings, Ltd. for an aggregate transaction value of $5.56 billion, in cash. The deal represents progress in AIG's profitable growth strategy, enhancing the firm's general insurance capabilities, while adding a robust reinsurance underwriter ... Read the full article
RenaissanceRe takes minority shareholding in run-off specialist Catalina
19th January 2018
Bermudian reinsurance firm RenaissanceRe is to make a minority shareholding investment in non-life insurance and reinsurance run-off and consolidation specialist Catalina Holdings. RenaissanceRe will become a minority shareholder in Catalina, with the share investment being made through the reinsurers Ventures unit. Aditya Dutt, President of Renaissance Underwriting Managers, Ltd., will take ... Read the full article
Specialty insurer JenCap Holdings acquires MGA Genesee General
16th January 2018
Specialty insurer JenCap Holdings LLC (JCH) has announced plans to acquire privately-held managing general agency (MGA) and broker, Genesee General. Financial terms for the transaction, which is expected to close this month, were not disclosed. John Jennings, President and Chief Executive Officer (CEO) of JCH, said; "Genesee President Roger Ware has created a leading ... Read the full article
Thomas Miller Specialty in exclusive talks over Navigators’ indemnity unit purchase
16th January 2018
Navigators Management (UK) and Thomas Miller Specialty have entered into exclusive discussions over Thomas Miller Specialty's acquisition of Navigators’ fixed-premium protection and indemnity business. Guy Pierpoint, Chief Executive Officer, Thomas Miller Specialty, said; “This is a logical and progressive step for Thomas Miller Specialty, enabling us to create scale in a ... Read the full article
Davies Group to acquire R&Q unit for £20 million
15th January 2018
Randall & Quilter Investment Holdings (R&Q) has announced the sale of its Insurance Services and Captive Management Operations to consultancy and digital solutions provider Davies Group, at an agreed valuation of £20 million (US$28mn). Davies will pay a net cash consideration, after deducting net debt applicable to the businesses, of approximately £18.6 ... Read the full article
Stone Point Capital & the Karfunkel-Zyskind Family propose AmTrust acquisition
10th January 2018
Private equity funds managed by Stone Point Capital, Barry Zyskind Chairman and Chief Executive Officer of AmTrust Financial Services, George Karfunkel and Leah Karfunkel (the Karfunkel-Zyskind Family), have jointly proposed to acquire all outstanding shares of AmTrust common stock. The Karfunkel-Zyskind Family currently owns or controls approximately 43% of the outstanding ... Read the full article
Beach & Associates acquired by Acrisure
10th January 2018
Reinsurance brokerage Beach & Associates is to be acquired by U.S. retail consulting and insurance broking group Acrisure, LLC, who will acquire 100% of Beach’s equity from existing shareholders, including private equity specialists Aquiline Capital Partners. Beach will retain its name, identity and approach under the new ownership, operating as an ... Read the full article
Munich Re’s Ergo sells legal insurance subsidiaries to Allianz
10th January 2018
German insurance and reinsurance group Munich Re has sold three of its ERGO Group operated legal insurance subsidiaries to Allianz Group. ERGO Group AG has sold its legal protection insurance subsidiary DAS Switzerland and the assets of DAS Luxembourg and Slovakia to Allianz, as it seeks to rationalise its primary insurance ... Read the full article
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