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 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
Allianz seeks 100% ownership of Euler Hermes
27th November 2017
Insurance giant Allianz has made an offer to acquire the remaining shares of trade-credit insurer Euler Hermes, as it seeks to take control of the company. Allianz has already secured the purchase of an additional 11.34% of Euler Hermes share capital, taking its ownership to 74.34% of Euler Hermes share capital ... Read the full article
Markel completes its acquisition of State National
20th November 2017
Financial services, specialty insurance and reinsurance group, Markel Corporation has completed its $919 million acquisition of fronting, program and lender service insurance specialist, State National Companies, Inc. Markel announced its agreement to acquire State National on July 26th 2017, so the transaction has been completed in a relatively short amount ... Read the full article
Compre to acquire assumed non-life reinsurance portfolio from Allianz Versicherungs
16th November 2017
Compre, the insurance and reinsurance legacy specialist, has announced its seventh acquisition of the year, agreeing to purchase a portfolio of assumed non-life reinsurance business from Allianz Versicherungs. Originally, the business was underwritten by Vereinte Versicherung AG and its legal predecessors, and has been discontinued since the late 1990s. The transaction fee ... Read the full article
Till Capital looking for buyer for Canadian subsidiary Omega Insurance
14th November 2017
Bermuda-domiciled Till Capital Ltd., which operates through wholly owned subsidiaries Omega Insurance Holdings Inc. and Resource Re Ltd., is looking to sell of the former and is seeking a buyer for Canadian subsidiary Omega. The company, which follows an investment-oriented reinsurance approach having been launched by investor Bill Lupien with the ... Read the full article
Reinsurers’ M&A strategies could be hit by recent capital loss events
10th November 2017
As reinsurers cope with significant third-quarter catastrophe-related losses, research analysts speaking at the 2017 Bermuda Reinsurance Conference said they believed that although the hit to reinsurer balance-sheets would be less severe than in previous high-loss years, it would impact firms' M&A strategies. "It seems like, if you look at the hits ... Read the full article
Preservation Capital acquires stake in cyber MGA Ascent
9th November 2017
Cyber and specialty lines Managing General Agent, Ascent Underwriting, has agreed that Preservation Capital Partners will take a substantial stake in the business subject to regulatory approval, providing significant capital to support Ascent’s growth ambitions. The Ascent managing team will retain a significant shareholding in Ascent and will continue to manage the ... Read the full article
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