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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.

Corvus acquires cyber platform Tarian from Beat

6th January 2022

Beat Capital Partners, a long duration investor specialising in the insurance industry, has announced the sale of Tarian Underwriting to Corvus Insurance, a provider of smart commercial insurance products powered by AI-driven risk data. Established in 2016, Tarian is cyber underwriting platform that provides solutions to the cyber risk environment and ... Read the full article

Fortitude Re set for growth with launch of multi-line reinsurer & U.S. platform

6th January 2022

Fortitude Re has announced the formation of a new Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer, as its subsidiary obtains Reciprocal Jurisdiction Reinsurer status. Established in 2018 by international insurer AIG and global alternative asset manager, The Carlyle Group, Fortitude Re was originally set up to ... Read the full article

Everspan Group acquires three insurance carriers

6th January 2022

Ambac Financial Group has announced that its subsidiary, Everspan Insurance Company has acquired 21st Century Indemnity Insurance Company, 21st Century Pacific Insurance Company and 21st Century Auto Insurance Company of New Jersey. The acquisition is expected to broaden and enhance Everspan Group’s distribution capabilities and provides greater optionality for its program ... Read the full article

Global M&A activity to remain strong in 2022 after a record year: WTW

5th January 2022

Re/insurance broker Willis Towers Watson (WTW) expects global merger and acquisition (M&A) activity to remain strong in 2022 after a record number of deals completed with a value of more than $100 million last year. The latest research from WTW's Quarterly Deal Performance Monitor, run in partnership with the M&A Research ... Read the full article

HDI Intl. sells Russian life insurance unit to Russian Sovcombank

5th January 2022

Talanx subsidiary, HDI International AG, is selling its Russian life insurance unit OOO Strakhovaya Kompaniya CiV Life (CiV Life) to Russian Sovcombank. With this sale, the Talanx Group is streamlining the portfolio of its Retail International Division in Central and Eastern Europe and underscoring its focus on profitable growth in its ... Read the full article

Fortitude Re finalises acquisition of AIG’s legacy insurance businesses

5th January 2022

Fortitude Group Holdings, LLC, the parent of Bermuda-based reinsurer Fortitude Re, has now completed its takeover of AIG's legacy insurance businesses following the acquisition of Fortitude Life & Annuity Solutions, Inc. (FLAS) and Fortitude P&C Solutions, Inc. (FPCS). It was announced in late November 2019 that the Carlyle Group and ... Read the full article

Weston Property & Casualty Insurance Company launches

5th January 2022

In a reflection of the evolution of the Weston group of companies, Weston Insurance Company (WIC) and Weston Specialty Insurance Company (WSIC) have merged to form Weston Property & Casualty Insurance Company (WPCIC). Based in Florida, WPCIC has a specialist focus in providing insurance against protection for losses from natural catastrophes ... Read the full article

Core Specialty completes merger combination with Lancer

3rd January 2022

Specialty property and casualty (P&C) insurers Core Specialty has now completed its previously announced merger combination with commercial auto specialist Lancer Insurance Group, growing its business into one holding pro forma capital of over $1.1 billion. The merger was announced back in April 2021, with Lancer expected to operate as ... Read the full article

Apollo completes merger with Athene, lifting market cap to $43bn

3rd January 2022

Apollo has now completed its merger with life and retirement reinsurance company Athene Holding Ltd., creating a company with an implied market capitalisation of around $43 billion. Apollo now considers itself a "high-growth alternative asset manager with asset management and retirement services capabilities", with two subsidiaries, Apollo Asset Management (formerly known ... Read the full article

Ryan Specialty completes acquisition of Keystone Risk Partners

3rd January 2022

International specialty insurance firm, Ryan Specialty Group, has now completed its acquisition of certain assets of the Media, PA based insurance operation Keystone Risk Partners, LLC. The acquisition was previously announced last month. Keystone Risk Partners offers a range of alternative risk products and services, including captive consulting and management, as ... Read the full article

Markerstudy to acquire BGL’s insurance arm for £400m: Report

3rd January 2022

UK motor insurance specialist Markerstudy is reported to be acquiring the insurance operations of BGL Group, which also owns price comparison giant Comparethemarket, in a deal worth £400 million. Sky News reported yesterday that Markerstudy is buying the BGL insurance operation with the support of a capital injection from its private ... Read the full article

Zurich frees $1.2bn of capital with sale of $9.5bn Italian life & pensions back book

3rd January 2022

Global insurer Zurich Insurance Group announced this morning that it is freeing up roughly US $1.2 billion of capital through the sale of its legacy Italian life and pensions book of policies. Zurich said that its subsidiary Zurich Investments Life S.p.A. is selling its life and pension back book, which includes ... Read the full article

AXA completes €690mn sale of Belgian banking operations

31st December 2021

French insurance giant AXA has sold 100% of its Belgian banking operations to cooperative bank Crelan for a total consideration of €690 million. The deal consists of €610 million in cash and the transfer to AXA Belgium of Crelan Insurance, the insurance company of Crelan valued at €80 million. In addition, AXA ... Read the full article

HSBC approved to take full ownership of HSBC Life China

31st December 2021

HSBC Holdings plc has underscored its commitment to expanding in China after its indirect wholly-owned subsidiary, HSBC Insurance (Asia) Limited, received approval from the Shanghai office of the China Banking and Insurance Regulatory Commission to acquire the remaining 50% stake in HSBC Life Insurance Company Limited (HSBC Life China). The approval ... Read the full article

SafePoint assumes Louisiana policies from insolvent insurers

30th December 2021

Florida-based property and casualty insurer SafePoint has been approved to takeover approximately 30,000 homeowners policies in Louisiana from two insurance firms that became insolvent following losses from Hurricane Ida earlier this year. Access Home Insurance Co. and State National Fire Insurance Co. were placed into receivership in November, throwing the coverage ... Read the full article

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