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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.

AXA offloads insurance operations in Gulf region for $264mn

7th September 2021

Global insurer AXA has completed the sale of its 50% shareholding in AXA Gulf and its 34% shareholding in AXA Cooperative Insurance Company (in Saudi Arabia) to Gulf Insurance Group, for a cash consideration of $264 million. The sale of AXA’s 28% shareholding in AXA Green Crescent Insurance Company (in UAE), ... Read the full article

Marsh McLennan Agency acquires Vaaler Insurance

6th September 2021

Marsh's marketing agency subsidiary Marsh McLennan Agency has acquired Vaaler Insurance, an independent agency in North Dakota. Vaaler is a third generation family-owned business, providing business insurance, employee health and benefits, and personal lines solutions, with specialised expertise in the construction, education, and healthcare industries. Founded in 1947, the company employs 81 ... Read the full article

Enstar takes controlling stake in Enhanzed Re

2nd September 2021

Enstar has announced that one of its subsidiaries has completed the purchase of the entire 27.7% interest in Enhanzed Re previously held by an affiliate of Hillhouse Group. The purchase price of $217.1 million is based on 90% of Enhanzed Re’s total shareholders’ equity as of June 30, 2021 and is ... Read the full article

Arch Capital closes acquisition of Westpac’s LMI business

1st September 2021

Arch Capital has closed its previously announced acquisition of Westpac Lenders Mortgage Insurance Limited (WLMI), an authorised captive lenders mortgage insurance (LMI) provider to the financial services group Westpac. With this deal finalised Arch intends to proceed by combining the operations of WLMI with its existing Australian LMI company, Arch ... Read the full article

OMERS takes $375m stake in Fairfax’s Brit

31st August 2021

Fairfax Financial Holdings Limited has announced the completion of an investment into its Brit Limited subsidiary by OMERS, the pension plan for Ontario’s municipal employees. First announced in February 2021, the transaction sees OMERS acquire a 14% stake in Brit for a cash sum of approximately $375 million. After closing, Fairfax will ... Read the full article

Crawford acquires contents valuation service edjuster

31st August 2021

Crawford & Company, a provider of claims management and outsourcing solutions to carriers, brokers and corporations, has announced the acquisition of edjuster, a technology-driven field and desktop contents claims handling solutions company. edjuster operates on a proprietary contents management platform that offers contents inventory and valuation solutions for both high severity ... Read the full article

WTW agrees to acquire Leaderim

27th August 2021

Willis Towers Watson has entered into an initial, non-binding agreement to acquire Leaderim, an insurance broking and consultancy business in Israel. Leaderim offers a broad range of commercial insurance solutions to the Israeli market and has significant experience in creating multinational risk programs, reflecting the large concentration of global companies operating ... Read the full article

M&A’s drop in first half of 2021: Clyde & Co

26th August 2021

Mergers and acquisitions (M&A) in the global insurance industry have dropped back slightly in the first half of 2021 with 197 completed deals worldwide, according to Clyde & Co’s Insurance Growth Report. The report also noted that M&A’s were down from 206 in the second half of 2020 and 201 at ... Read the full article

Insurtech Pie Insurance buys carrier from Premia to go full-stack

25th August 2021

Pie Insurance, a growing insurtech company that specialises in workers' comp insurance for small businesses, has achieved a first-step in its ambition to become a full-stack insurtech, by acquiring a carrier from legacy player Premia Holdings Ltd. Pie announced today that its Pie Carrier Holdings entity has now received regulatory approval ... Read the full article

Coverys takes majority stake of Brady Insurance in Ireland

25th August 2021

Coverys European Holdings (CEH), an agency platform and network specialising in European markets, has completed a 51% acquisition of Joseph G Brady (Insurance) Ltd. (Brady Insurance), an insurance underwriting agency, broker and Lloyd’s coverholder based in Ireland. Brady Insurance provides a suite of business and personal lines products from its headquarters ... Read the full article

Fairfax completes sale of RiverStone Europe to CVC

23rd August 2021

Fairfax Financial Holdings Limited has successfully completed the sale of its interests in RiverStone Europe to CVC Capital Partners. First announced in December 2020, the transaction was finalised with a purchase price of approximately $700 million. Alongside the purchase price, Fairfax will also be entitled to receive up to $235.7 million ... Read the full article

Guidewire acquires P&C insurtech HazardHub

20th August 2021

Software specialist Guidewire has announced the acquisition of HazardHub, a provider of API-driven property risk insights to the P&C insurance industry. HazardHub curates, analyses and distills enough data to offer a comprehensive, national catalog of risks while its API provides risk scores and supports the underlying information for any US property. “Underwriters, ... Read the full article

Aston Lark Ireland acquires A.R. Brassington & Co.

20th August 2021

Insurance broker Aston Lark Ireland has acquired A.R. Brassington & Co., a subsidiary of the ARB Group. Brassington Insurance offers solutions to clients and customers, direct and wholesale, led by the management team of Cathal O’Brien and Paul Carty. The company is supported by a team of skilled and experienced professionals, Brassington ... Read the full article

QOMPLX and Tailwind abandon merger plans

18th August 2021

Risk analytics provider QOMPLX has agreed to terminate its business combination agreement with Tailwind Acquisition Corp., a special purpose acquisition company, due to challenging market conditions. The deal would have seen QOMPLX go public via a merger with Tailwind, and reflected a post-transaction equity value for QOMPLX of roughly $1.4 billion ... Read the full article

AJG able to balance & reinvigorate Willis Re’s employee & client bases: KBW

17th August 2021

According to reports from Keefe, Bruyette & Woods (KBW), Arthur J Gallagher (AJG) will be able to stabilise and reinvigorate Willis Re’s employee and client bases, whilst expanding its reinsurance product capabilities and global footprint. It was announced ... Read the full article

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