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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.

Monument Re completes acquisition of Robein Leven

25th March 2019

Bermuda-based reinsurer Monument Re has announced the completion of its acquisition of Robein Leven N.V. from Amerborgh Financial Services B.V. Monument Re acquired the Dutch insurer and its subsidiaries following receipt of regulatory approval by the De Nederlandsche Bank (DNB). First announced in July 2018, Monument Re previously stated that the ... Read the full article

European Commission clears Marsh-JLT takeover

25th March 2019

The previously-announced acquisition of Jardine Lloyd Thompson (JLT) by Marsh & McLennan Companies (MMC) has been approved by the European Commission. The Commission examined the proposed deal’s effect on competition in markets where the two companies' activities overlap. This includes the supply of insurance broking services for specialty sectors - such as ... Read the full article

RenRe completes acquisition of Tokio Millennium Re

22nd March 2019

Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has completed its previously announced acquisition of Tokio Millennium Re, following the receipt of all necessary regulatory approvals. The $1.5 billion deal, which sees RenRe acquire Japanese holding company Tokio Marine’s reinsurance units, was announced in October of last year. Commenting on the completion of the deal, ... Read the full article

Re/insurers in 2018 pursued M&A to focus on core business, says study

22nd March 2019

Re/insurers were driven to complete mergers and acquisitions (M&A) in 2018 in order to shed non-core business operations or acquire complementary entities, according to a new study by investment management firm Conning. Conning’s study tracked and analysed U.S and non-U.S insurer M&A activity across property-casualty, life-annuity and health/managed care insurance sectors. 2018’s ... Read the full article

Castel promotes European M&A division to standalone underwriting cell

19th March 2019

Castel Underwriting Agencies Limited, the club-style MGA formation platform, has promoted Transact Risk Partners from a division within the Castel Specialty portfolio to a standalone underwriting cell. Launched in October 2017, Transact provides warranty and indemnity insurance for mergers and acquisitions (M&A) transactions and tax risk insurance for tax liabilities across ... Read the full article

Preservation Capital completes investment in US MGA Cove

18th March 2019

Preservation Capital Partners, the private equity firm that purchased cyber and specialty lines managing general agent (MGA) Ascent Underwriting last year, has completed its previously-announced strategic investment in Cove Programs, a US construction-focused MGA. The completion of this deal means Preservation Capital now manages $200 million gross written premium ... Read the full article

Pembroke & Ironshore sale removes business overlap, says Liberty Mutual

18th March 2019

Liberty Mutual has said that its decision to sell Pembroke Managing Agency Limited and Ironshore Europe DAC (IEDAC) to Hamilton Insurance Group, Ltd. will remove business overlap resulting from its 2017 acquisition of Ironshore. The transaction, which was announced on March 14, will see Hamilton take over the Pembroke platform ... Read the full article

Re/insurance M&A slowdown expected in 2019: Clyde & Co

15th March 2019

Mergers and acquisitions (M&A) activity in the global re/insurance sector increased by 9% in 2018, but political and economic uncertainty is expected to cause a temporary slowdown over the next six months, according to analysts at Clyde & Co. The law firm recorded 382 M&A transactions in 2018, up from 350 ... Read the full article

Zurich boosts M&A insurance capacity with Fusion partnership

15th March 2019

Zurich Australia has partnered with Fusion Specialty Insurance, a business unit of POP Insurance Holdings launched with the help of Allianz Global Corporate Specialty (AGCS) earlier this year. Zurich says the deal will boost the company's capacity in the mergers and acquisitions (M&A) insurance space. As per the agreement, Fusion will be delegated ... Read the full article

Hamilton acquires Pembroke and Ironshore Europe from Liberty Mutual

14th March 2019

Bermuda-based insurer and reinsurer, Hamilton Insurance Group, Ltd. has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke Managing Agency Limited platform at Lloyd's, and also Ironshore Europe DAC (IEDAC). The transaction is expected to close later in 2019, and once completed, sees Hamilton almost double its total ... Read the full article

Hub International acquires The Insurance Exchange

14th March 2019

Chicago-based global insurance broker Hub International has announced the acquisition of The Insurance Exchange for an undisclosed consideration. Based in Rockville, Maryland, The Insurance Exchange is one of the largest independent insurance agencies in the Mid-Atlantic region. It provides solutions for employee benefits consulting, commercial property & casualty, loss control, bonding, risk ... Read the full article

RenaissanceRe’s $1.5bn acquisition of Tokio Millennium Re approved

13th March 2019

Bermudian reinsurance firm RenaissanceRe has had its $1.5 billion acquisition of Japanese re/insurance group Tokio Marine’s reinsurance units approved by regulators. The acquisition, which was announced back in October 2018, sees RenaissanceRe acquiring the Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited units from the Japanese giant Tokio ... Read the full article

Munich Re’s ERGO to sell four more European units to EIG

8th March 2019

ERGO International AG, a division of global reinsurer Munich Re, has announced that it plans to sell four more of its European insurance subsidiaries to Euroins Insurance Group (EIG). Representatives of both parties have signed a purchase agreement relating to the sale of ERGO’s life and non-life subsidiaries in Romania and ... Read the full article

Ryan Specialty Group completes acquisition of Westphalen

6th March 2019

Ryan Specialty Group has completed its previously announced acquisition of Westphalen Insurance Services Inc., an independently owned wholesale insurance brokerage located in Edmond, Oklahoma. The Westphalen team now forms part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, and will establish the company’s presence in Oklahoma. Founded in ... Read the full article

Aon does not intend to pursue Willis Towers Watson deal

6th March 2019

Re/insurance brokerage Aon has now confirmed that it does not intend to pursue a deal to acquire rival broker Willis Towers Watson (WTW). Media reports emerged yesterday claiming that Aon was in early discussions with WTW about a potential acquisition. Aon then confirmed then it was in the early ... Read the full article

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