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.
Mitsui Sumitomo completes purchase of Fairfax’s First Capital interest
28th December 2017
Fairfax Financial Holdings has now completed the sale of its 97.7% interest in First Capital Insurance Limited of Singapore to Mitsui Sumitomo Insurance Company, for a cash purchase price of $1.6 billion. The deal was first announced in August of this year, and has now completed after Mitsui Sumitomo received ... Read the full article
Life Company Consolidation Group to acquire Generali PanEurope
22nd December 2017
Generali has entered into a share purchase agreement to sell its entire shareholding in Generali PanEurope with Life Company Consolidation Group (LCCG) for an initial consideration of EUR 230 million. Frédéric de Courtois, Group Chief Executive Officer, (CEO) Global Business Lines & International, said; “this transaction underscores our ongoing efforts to rationalize ... Read the full article
SOBC Sandell completes sixth & seventh acquisition
21st December 2017
SOBC Sandell has announced that as of December 15th, 2017, it has acquired 100% of the stock of ASAC Inc., PCC and American Staffing Assurance Company of Washington DC, IC (ASCWIC), after receiving regulatory approval for Change of Control in Washington, D.C. The purchase of ASAC PCC and ASCWIC are SOBC ... Read the full article
Market pressures forecast to drive M&A activity in 2018: Clyde & Co
21st December 2017
2017's record-level losses from natural catastrophes and other growing market pressures could act as a catalyst for M&A activity in the U.S. insurance industry next year, according to Clyde & Co. Analysts said M&As had taken something of a back seat in the insurance industry over the last 18 months, but ... Read the full article
Kuvare Life Re in $850mn fixed annuity reinsurance agreement
20th December 2017
Kuvare Holdings has signed a reinsurance agreement to assume $850 million of fixed annuity reserves through its Bermuda subsidiary, Kuvare Life Re (KLR). The reinsurance agreement is in partnership with a leading international insurer and provides financing support for a multi-billion dollar corporate transaction. Kuvare is a re/insurance platform within the U.S. life ... Read the full article
The Navigators to acquire Belgian insurer Assurances Continentales
19th December 2017
The Navigators Group has entered an agreement to purchase all the shares of Belgian specialty insurer Assurances Continentales -- Continentale Verzekeringen NV (ASCO) and Bracht, Deckers & Mackelbert NV (BDM) - a move that will grow the firm's European presence. Navigators has proposed to pay EUR 35 million in cash for ... Read the full article
Mitsui Sumitomo approved to acquire First Capital stake from Fairfax
14th December 2017
Japanese insurance and reinsurance giant Mitsui Sumitomo Insurance (MSI), a subsidiary of MS&AD Insurance Group Holdings, has been approved to complete its proposed acquisition of Fairfax Financial Holdings Limited’s 97.7% interest in First Capital Insurance Limited of Singapore. The acquisition was originally announced back in August, as Mitsui Sumitomo and ... Read the full article
SOBC Sandall acquires American Safety Risk Retention Group
6th December 2017
SOBC Sandell has announced the acquisition of 100% of American Safety Risk Retention Group of Vermont as of December 1st, following regulatory approval for Change of Control in Vermont Department of Financial Regulation (DFR). SOBC Sandell said it worked closely with the Vermont DFR on the transaction. Stephanie Mocatta, SOBC Sandell CEO, ... Read the full article
Hyperion gets $400m+ investment from Québec pensions
5th December 2017
International insurance group Hyperion, which counts broking divisions Howden and RKH, and underwriting division DUAL, at its core, has received an investment of over $400 million from pension funds in Québec managed by Caisse de dépôt et placement du Québec (CDPQ). CDPQ is a long-term, institutional investor with a liking for ... Read the full article
Tryg to acquire Danish P&C insurer Alka for $1.3bn
4th December 2017
Scandinavian insurer Tryg has agreed to acquire Danish P&C insurer Alka Forsikring (Alka) for a total consideration of about $1.3 billion, in a move that brings its Danish market share up to 22%. The deal values the operations of Alka, the 8th largest Danish P&C insurance business, at about $908 million ... Read the full article
Aetna to be acquired by CVS Health in $77bn deal
4th December 2017
Health insurance giant Aetna is to be acquired by pharmacy and healthcare service provider CVS Health, in an M&A transaction estimated to be worth around $77 billion. CVS Health will acquire all of Aetna's outstanding shares using a combination of cash and stock. Aetna shareholders will receive $145.00 per share in ... Read the full article
Markel International completes takeover of EC Insurance Co.
1st December 2017
After receiving approval from the Prudential Regulation Authority (PRA), Markel International has completed its acquisition of EC Insurance Co. Ltd (ECIC). ECIC offers a wide range of insurance solutions for both contractors and affinity groups across the UK building services industry, and will become part of specialist re/insurer Markel's UK national markets business. Markel's ... Read the full article
Aon expands Switzerland presence with Unidelta AG acquisition
30th November 2017
Aon Switzerland, a division of global insurance and reinsurance broker Aon, has announced plans to acquire Unidelta AG, an insurance broker based in Rapperswil, St. Gallen, Switzerland. Following the acquisition, Chief Executive Officer (CEO) and founder of Unidelta AG, Peter Merkli, will remain as Managing Director, and will also form part of ... Read the full article
Crosswinds to sell Monarch Delaware interests for over $12mn to FedNat
28th November 2017
Crosswinds Holdings' subsidiary Crosswinds Investor Monarch (CIML) has entered into an agreement to sell all of its Monarch Delaware interests to its joint venture partner, Federated National, for an aggregate purchase price of $12.28 million. In its capacity as a limited CIML partner, Crosswinds will receive about $10.5 million of the ... Read the full article
Heritage approved for Narragansett Bay Insurance acquisition
27th November 2017
Heritage Insurance Holdings, Inc. said today that it has received regulatory approval to proceed with its acquisition of NBIC Holdings, Inc., the parent company of Narragansett Bay Insurance Company. Heritage announced its intention to acquire the parent of Narragansett Bay Insurance in August 2017, saying that it had offered $250 ... Read the full article
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