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.
Insurer Croatia Osiguranje completes Croatia Lloyd takeover
6th April 2017
Insurer Croatia Osiguranje yesterday announced the completion of its takeover of local reinsurance entity Croatia Lloyd. The acquisition enables the firm's expansion into the reinsurance segment, which the insurer hopes to utilise to give a boost to its affiliate businesses in Macedonia, Bosnia and Herzegovina, Serbia and Slovenia. Croatia Lloyd had been ... Read the full article
PartnerRe completes acquisition of life reinsurer Aurigen
4th April 2017
PartnerRe has announced the completion of its acquisition of life reinsurance company, Aurigen Capital Limited. Aurigen’s core business has been the reinsurance of life insurance policies of North American residents, and since 2013, mortality risk solutions in the U.S. Aurigen is a top-five life reinsurer in Canada based on recurring new reinsurance ... Read the full article
M&A activity looms over Bermudian market: A.M. Best
4th April 2017
M&A activity “looms” over the Bermudian market as global re/insurers look to grow their books in a market where fresh underwriting ground is becoming increasingly scarce, A.M. Best analysts said in their recent report on Bermudian market trends. Analysts said conditions in Bermuda were “ripe” for more M&A activity, although questions which ... Read the full article
Fairfax-Allied World deal edges closer as shareholders announce vote of approval
23rd March 2017
Allied World Assurance Company Holdings has revealed that its shareholders have approved two proposals surrounding its previously announced merger deal with Canadian firm Fairfax Financial Holdings, bringing the transaction closer to completion. Earlier in March Fairfax exercised its option to increase the cash consideration element of the acquisition by $18 per ... Read the full article
Hannover Re pays £142.5 million for Argenta: Reports
22nd March 2017
Germany domiciled reinsurance giant Hannover Re reportedly paid £142.5 million to acquire UK holding firm Argenta Holdings, according to a recent heraldscotland.com article. The acquisition of Argenta Holdings, the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121, was announced ... Read the full article
R&Q acquires captive insurer ICDC
22nd March 2017
Randall & Quilter Investment Holdings (R&Q) has announced its acquisition of American Fortune 500 captive insurer, ICDC. ICDC reinsured its parent company for workers' compensation, commercial general liability, business auto liability, business auto physical damage and property risks. As of 31st December 2016 it had a total net asset value of $7.95 million, ... Read the full article
R&Q acquires Bermudian captive insurer, Linco Limited
21st March 2017
Randall & Quilter American Holdings Inc., the U.S. subsidiary of specialist non-life insurance investor, service provider and underwriting manager, Randall & Quilter Investment Holdings (R&Q), has announced the acquisition of Bermuda captive Linco Limited. Domiciled in Bermuda, Linco provided reinsurance protection to its shareholders for workers' compensation, general and automotive liability, and ... Read the full article
Hannover Re acquires Lloyd’s firm Argenta Holdings
20th March 2017
Hannover Re has agreed to acquire UK holding firm Argenta Holdings - the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd's syndicate Argenta Syndicate 2121. According to Argenta, Lloyd’s Syndicate 2121 has a stamp capacity for 2017 of £300 million. The firms ... Read the full article
Global re/insurance M&A activity forecast to increase: KPMG
20th March 2017
Financial advisory firm, KPMG, said insurance industry mergers and acquisitions could see a hike this year after 84% of companies surveyed said they had 1-3 M&As in the pipeline. Out of the 200 global insurance industry leader survey participants surveyed, one-third said adapting their business model to deal with the emerging ... Read the full article
M&A more expensive as Asian reinsurers seek diversification: Fitch
17th March 2017
M&A activity became more competitive last year, with valuation multiples shooting up as Chinese and Japanese reinsurers follow international earning diversification strategies, according to Fitch's newly released study on reinsurance market trends. Fitch said valuation multiples for M&A activity had risen last year to nearly 2.0x due to the influx of Asian ... Read the full article
Fairfax to pay more cash for Allied World
13th March 2017
Fairfax Financial Holdings Limited has exercised its option to increase the cash consideration element of its offer to acquire Allied World by $18 per ordinary share, which, combined with a $5 special dividend takes the cash consideration component of the offer to $28 per share. Fairfax and Allied World recently announced that ... Read the full article
Croatia Osiguranje receives approval to absorb reinsurer Croatia Lloyd
8th March 2017
Croatia domiciled insurance company, Croatia Osiguranje, has announced that it received approval to complete the takeover of local reinsurance entity Croatia Lloyd. The reinsurer has been operating in the region for more than 45 years and, following approval from HANFA, the region's financial services supervisory agency, Croatia Osiguranje can now complete its proposed transaction, and absorb ... Read the full article
J.C. Flowers & Co acquires UK General Insurance Group
6th March 2017
Investment firm J.C. Flowers & Co has announced plans to acquire British personal lines insurance provider UK General Insurance Group. Financial agreement terms are undisclosed, and the acquisition remains subject to regulatory change of control approval from the UK Financial Conduct Authority. UK General is a leading UK personal lines insurer, offering ... Read the full article
Enstar to sell Pavonia Life to Global Bankers Insurance Group for $120m
20th February 2017
Bermuda based insurance, reinsurance and run-off specialist Enstar Group has announced a $120m agreement to sell its Pavonia Holdings (US), Inc. subsidiary to an affiliate of Global Bankers Insurance Group for $120 million. Enstar originally acquired the Pavonia business, which includes Pavonia Life Insurance Company of Michigan, Pavonia Life Insurance Company of ... Read the full article
Aon to sell Benefits Admin & HR BPO platform to Blackstone
10th February 2017
Global insurance and reinsurance broker Aon has agreed to sell the Benefits Administration & HR Business Process Outsourcing (BPO) platform of its Aon Hewitt division to Blackstone, for up to $4.8 billion. The broker announced that it's signed a definitive agreement to sell the business units to investment giant Blackstone for ... Read the full article
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