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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.

Interest rates cause slowdown in re/insurance deal volume at Q2: PwC

20th August 2019

Re/insurance deal volume slowed down during the second quarter of 2019 as interest rates reversed course and declined toward multi-year lows, according to analysts at PwC. A recent report from the firm found that deal volume among re/insurance companies decreased by 22% compared with the first quarter of 2019 and was ... Read the full article

Abry to acquire reinsurance management firm Portfolio from Capital Z

19th August 2019

Boston-based private equity firm Abry Partners has agreed to acquire Portfolio Holding from Capital Z Partners, a New York-based private equity firm. Portfolio's primary business is turnkey reinsurance management of vehicle service contracts, warranties and other F&I products sold in the automotive dealership. All of Portfolio's current management team will remain in ... Read the full article

Syncora to sell guarantee insurance subsidiary for $392.5m

19th August 2019

Bermuda-domiciled holding company Syncora has agreed to sell its New York financial guarantee insurance subsidiary to Star Insurance Holdings for $392.5 million in cash. Star Insurance is an entity organised by GoldenTree Asset Management on behalf of GoldenTree’s managed funds and accounts. In addition to the cash purchase price, after the closing ... Read the full article

Intact to grow to $3bn of premiums with new acquisitions

16th August 2019

Intact Financial Corporation has announced that it has entered into an agreement with Princeton Holdings Limited to acquire The Guarantee Company of North America (The Guarantee) and Frank Cowan Company Limited. The cash consideration for the acquisitions is approximately $1 billion, and the transaction is expected to close in the fourth-quarter ... Read the full article

Arch Insurance to acquire tech-focused MGU Ventus

15th August 2019

The North American operations of Arch Insurance is set to acquire technology and analytics-focused managing general underwriter, Ventus Risk Management. Ventus was founded in 2016 and specialises in providing coastal commercial property insurance solutions to small and mid-sized enterprises. Arch Insurance North America plans to integrate Ventus into its platform, enabling third-party ... Read the full article

FedNat’s $51m Maison Insurance acquisition gets regulatory nod

14th August 2019

Florida-based FedNat Holding Company has received regulatory approval from the Florida Officer of Insurance Regulation and the Louisiana Department of Insurance to move forward with its acquisition of the homeowners insurance operations of 1347 Property Insurance Holdings. The previously-announced transaction is expected to close as soon as practicable following November ... Read the full article

Assured Guaranty to acquire asset manager BlueMountain for $160mn

14th August 2019

Assured Guaranty, a financial guaranty insurer, has announced that its subsidiary Assured Guaranty US Holdings Inc. has reached an agreement to acquire all of the outstanding equity interests in BlueMountain Capital Management, LLC and its associated entities. The purchase price of the transaction is $160 million, subject to certain adjustments, and ... Read the full article

Anbang targets sale of Japanese property portfolio: Reports

14th August 2019

China's Anbang Insurance Group is reportedly looking to sell its $2.4 billion (£1.9bn) property portfolio in Japan, which it acquired from Blackstone in 2017 for about the same price, according to Reuters. Reuters has today reported that Anbang is planning to sell the entire portfolio, which mainly consists of residential buildings ... Read the full article

Alliant acquires InvisionBenefit, expanding its Employee Benefits Group

14th August 2019

Alliant has expanded its Employee Benefits Group with the acquisition of InvisionBenefit, a Northern Illinois-based broker, consultant, and administrator. The acquisition of InvisionBenefit further expands Alliant's Midwest benefits presence, bringing a range of new benefits, consulting, and advisory services under the Alliant banner. The firm was founded in the year 2000, and ... Read the full article

M&A dance to continue as reinsurers navigate difficult conditions: S&P

13th August 2019

The ongoing convergence of the insurance, reinsurance, and insurance-linked securities (ILS) markets is expected to persist, and combined with continued pressure on earnings and an increasing need for scale and relevance, is expected to drive further reinsurance sector consolidation, according to S&P Global Ratings. Despite the global reinsurance sector taking advantage ... Read the full article

Brookfield Business Partners acquires majority stake in Genworth Canada

13th August 2019

Brookfield Business Partners L.P. is set to acquire a 57% controlling interest in Genworth MI Canada Inc. (Genworth Canada) from Genworth Financial for approximately CAD 2.4 billion (USD 1.8 billion). Genworth Canada, through its subsidiary Genworth Financial Mortgage Insurance Company Canada, is the largest private sector residential mortgage insurer in Canada. Prior ... Read the full article

AmWINS acquires LISI, CoPower

9th August 2019

AmWINS Group, Inc. has announced that it's set to acquire LISI, Inc. and CoPower (Administrators), Inc., which will both become part of the company's Group Benefits division. LISI was founded in 1977 and is a California-based general agent with a specialist focus on medical and ancillary benefits. CoPower, a third-party administrator focused ... Read the full article

There may be no future for small generalist brokers, says Gallagher CEO

8th August 2019

Small, generalist insurance and reinsurance brokers could find survival increasingly challenging as the need to be a specialist in order to remain relevant increases, according to the Chief Executive Officer (CEO) of brokerage Arthur J Gallagher, Patrick Gallagher. In a recent interview with the Financial Times (FT), Gallagher suggested that the ... Read the full article

IRB Brasil Re to take 8.93% stake in B3i for €3.5mn

6th August 2019

Brazilian reinsurer IRB Brasil Re has announced that it is looking to acquire an 8.93% stake in the Blockchain Insurance Industry Initiative (B3i) for €3.5 million (USD 3.9 million). The announcement was made by the company's Deputy Chief Executive Officer (CEO), Chief Financial Officer (CFO) and Director of Investor Relations, Fernando ... Read the full article

Alliant announces acquisition of Fred Daniel & Sons

6th August 2019

US specialty insurance brokerage firm Alliant Insurance Services has announced the acquisition of Fred Daniel & Sons, an insurance and consulting firm based out of Tulsa, Oklahoma. Fred Daniel & Sons, whose services include commercial lines, personal lines, and employee benefits, will join Alliant and continue serving clients nationwide from its ... Read the full article

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