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.

S&P skeptical on P&C reinsurers’ use of M&A to offset market challenges

2nd August 2017

S&P Global Ratings has set its outlook for P&C re/insurance M&A as neutral with a slight negative bias, while re/insurers often see M&As as a viable growth option, the agency remains skeptical as to how effective this strategy of upscaling to offset market challenges really is. As global property and casualty ... Read the full article

Regulator puts stop to Suncorp acquisition of Tower

26th July 2017

The New Zealand Commerce Commission said today that it has "declined to grant clearance to Vero Insurance New Zealand Limited to acquire up to 100% of the shares in Tower Limited." Vero, a subsidiary of Suncorp, had looked set to complete its acquisition of Tower Insurance of New Zealand, after Read the full article

Howden strengthens Asia presence with Sterling Knight acquisition

24th July 2017

Hyperion Insurance Group's retail broking unit, Howden, has completed the acquisition of Singapore-based specialist broker, Sterling Knight, after receiving regulatory approval from the Monetary Authority of Singapore (MAS). Brokerage Sterling Knight specialises in specie and international employee benefits, and the firm's clients include multinationals and SMEs. After the acquisition, Sterling Knight ... Read the full article

Hannover Re completes acquisition of Lloyd’s focused Argenta Holdings

21st July 2017

German reinsurance firm Hannover Re has announced the completion of its acquisition of Lloyd's of London focused player Argenta Holdings Limited, which gives the reinsurer a ready-made syndicate and Lloyd's private capital manager. The acquisition, which was completed yesterday and is effective today, sees Hannover Re gain a Lloyd's syndicate manager ... Read the full article

Nexus adds treaty reinsurance to offerings with Zon Re acquisition

20th July 2017

Nexus Underwriting Managing Limited (Nexus) has acquired U.S. domiciled reinsurance underwriting agency, Zon Re Accident Reinsurance (Zon Re), according to a statement from Nexus backer, B.P. Marsh. B.P. Marsh holds an 18.6% stake in managing general agent (MGA) Nexus, and provided a £30 million loan facility with HPS Capital Partners, of which ... Read the full article

Probitas 1492 signs MOU with Saudi Re to acquire nearly 50% of its Bermuda holding firm shares

17th July 2017

Probitas 1492 - a Lloyd's underwriting syndicate specialising in property, construction and casualty insurance and reinsurance solutions has signed a Memorandum of Understanding with Saudi Re to acquire nearly 50% of the Ordinary Shares of its holding company Probitas Holding Bermuda Ltd (PHBL). Ash Bathia, CEO Probitas, commented that the substantial involvement of ... Read the full article

SCOR to acquire 100% of mutual life/health reinsurer MutRé

17th July 2017

French reinsurance giant SCOR has announced this morning that it is to acquire the remaining shares of MutRé S.A., a reinsurer that SCOR has held a 33% stake in since 1998. MutRé S.A. is a mutual reinsurer, established to serve the social economy in France and a particularly major player in ... Read the full article

Desire for organic growth to drive re/insurance sector M&A

11th July 2017

According to some industry commentary, a notable reduction in share repurchases by reinsurers might well be a prelude to heightened merger and acquisition (M&A) activity in an effort to achieve organic growth, discusses John Cavanagh, Chief Executive Officer (CEO) of reinsurance broker, Willis Re. On the back of a very challenging 2016, ... Read the full article

AXIS Capital acquiring Novae Group for $604m

5th July 2017

Global specialty insurance and reinsurance firm AXIS Capital Holdings Limited is acquiring Novae Group plc, the Lloyd's of London focused diversified specialty re/insurer in a transaction worth $604 million. AXIS said that the acquisition will add "scale and breadth" to its international specialty insurance business, creating a $2 billion  London specialty ... Read the full article

RGA Re joins race to acquire Generali’s Netherlands operations

4th July 2017

Reinsurance Group of America (RGA Re) has reportedly joined the race to acquire the Netherlands operations of insurance giant Generali. Assicurazioni Generali, one of the largest insurance group's in the world, is actively trying to sell its Netherlands and Belgian operations, with RGA Re joining the race to acquire the Dutch ... Read the full article

USI Insurance to acquire Wells Fargo Insurance Services USA

29th June 2017

USI Insurance Services (USI) and Wells Fargo & Company ( Wells Fargo) have announced the entry into an agreement that will see USI acquire Wells Fargo Insurance Services USA (WFIS). The acquisition includes WFIS' Insurance Broking and Consulting unit, Employee Benefits and Property & Casualty national practices, and also Safehold Special Risk, ... Read the full article

Suncorp increases Tower bid, attempts to secure acquisition

26th June 2017

Australia and New Zealand based insurer Suncorp Group is trying to seal its acquisition of the remaining shares in Tower Insurance of New Zealand with an increased bid. Back in February, Prem Watsa’s Fairfax Financial made an all cash offer at $1.17 per share, so valuing Tower at $197 million, ... Read the full article

Randall and Quilter announces sale of Lloyd’s managing agency to Coverys

23rd June 2017

Randall & Quilter Investment Holdings (R&Q) has announced the sale of its Lloyd's of London managing agency arm, R&Q Managing Agency Ltd., to Coverys, a step it has taken to simplify its business operations. Randall & Quilter (R&Q) had previously announced that it would look to simplify its operations to focus ... Read the full article

Brown & Brown acquires TriCoast Insurance Services

19th June 2017

Brown & Brown has expanded its product offerings in the earthquake and hurricane insurance market through the acquisition of TriCoast Insurance Services by one of its subsidairies. Arrowhead General Insurance Agency acquired agent TriCoast Insurance - which offers agents and insureds access to earthquake and hurricane insurance products and boasts an annual net revenue ... Read the full article

Re/insurers looking to M&A to deploy excess capital in 2017

12th June 2017

European insurance and reinsurance firms are turning to sharebacks and M&As to deploy high levels of excess capital one year after the Solvency II regime took effect, a Moody's survey of 18 Chief Financial Officers (CFOs) from Europe's largest multinationals revealed. Last year just 10% of survey participants said they were ... Read the full article