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.
Corebridge Financial completes AIG Life UK sale to Aviva
9th April 2024
Corebridge Financial, a quoted subsidiary of American International Group, Inc (AIG) has completed the sale of its UK life insurance business, operating as AIG Life Limited (AIG Life UK), to Aviva for £453 million. The sale was previously announced in September 2023. According to Aviva, the transaction was funded through ... Read the full article
Arch Insurance NA to acquire Allianz’s US MidCorp & Entertainment insurance businesses
5th April 2024
Arch Insurance North America, part of Arch Capital Group Ltd., has entered into a master transaction agreement to acquire the US MidCorp and Entertainment insurance businesses - which includes select specialty insurance programs - from Allianz Global Corporate & Specialty SE (AGCS) for a $450 million cash consideration to Allianz. According ... Read the full article
Applied Surety acquires majority of Argo’s oil, gas, mining, & coal surety businesses
5th April 2024
Applied Surety Underwriters (ASU), a subsidiary of Applied Underwriters' United Risk division, is set to acquire the majority of Argo Surety group's in-force coal, oil, gas, and mining business. According to ASU, it will immediately assume the management and administration of the exposures acquired, while Argo Surety continues some processing, renewing, ... Read the full article
Brera Partners acquires 70% of GBSAPRI Group shares
5th April 2024
In an undisclosed transaction, private equity firm Brera Partners has acquired 70% of the shares in Italian insurance broker GBSAPRI Group. According to the announcement, the firm has made this acquisition with the strategy to drive consolidation in Italy’s fragmented insurance broking sector. Established in 1951 with headquarters in Rome and nine ... Read the full article
Farmers Mutual Hail to acquire Global Ag from AXA XL
4th April 2024
Crop insurer Farmers Mutual Hail Insurance Company of Iowa (FMH) is acquiring Global Ag Insurance Services from commercial and specialty insurer and reinsurer, AXA XL. Western U.S.-headquartered Global Ag is a crop insurance provider offering solutions through the USDA multi-peril crop insurance program as well as specialty private and named peril ... Read the full article
Suncorp Group agrees to sell Asteron Life to Resolution Life
4th April 2024
Suncorp Group Limited has signed a share sale and purchase agreement with Resolution Life NOHC, Resolution Life Group’s holding company in Australia and New Zealand (Resolution Life) to sell its New Zealand life insurance business, Asteron Life Limited for NZ$410 million. According to the announcement, the sale of Asteron Life for ... Read the full article
Howden bolsters presence in France with acquisition of brokerage group, OFRACAR
4th April 2024
Global re/insurance broker Howden has entered into an agreement to acquire OFRACAR, an independent brokerage group headquartered in Rouen. Established in 1964 by Jean-Pierre Lecomte, OFRACAR is a broker based in Normandy, that specialises in property & casualty, employee benefit, motor fleet and transport. The company consists of 84 staff in offices ... Read the full article
Jensten acquires specialist insurance broker Henry Seymour & Co
4th April 2024
UK broker and underwriter Jensten has announced the acquisition of Henry Seymour & Co., a deal that will enhance its capacity to offer specialist products to clients with niche requirements. Henry Seymour & Co is a specialist insurance broker catering to the unique needs of salons, clinics, gyms, spas, and mobile ... Read the full article
Generali completes acquisition of Conning Holdings
3rd April 2024
Generali has completed the acquisition of Conning Holdings Limited (CHL) and its affiliates from Cathay Life, a subsidiary of Cathay Financial Holdings, one of the largest Asia-based financial institutions. The acquisition includes Conning, focused on insurance and institutional fixed income, and its affiliates Octagon Credit Investors (bank loans, CLOs and specialty ... Read the full article
Kuvare Asset Management to be acquired by Blue Owl for $750m
3rd April 2024
Alternative asset manager Blue Owl has announced it has agreed to acquire Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM) for $750 million, a deal that will support the launch of Blue Owl Insurance Solutions. KAM is a boutique investment management firm focused on providing asset management services to the ... Read the full article
Aon expands capabilities in India with Global Insurance Brokers acquisition
3rd April 2024
Global insurance and reinsurance broker Aon has completed the acquisition of Global Insurance Brokers (GIB) in India, a move that significantly expands the firm's existing capabilities in the country. GIB, a composite re/insurance brokerage offering services across 17 offices, is now wholly owned by Aon and will formally integrate with Aon ... Read the full article
Ardonagh Advisory completes acquisition of Westfield Insurance
3rd April 2024
Ardonagh Advisory has completed its previously announced acquisition of Westfield Brokers Ltd. Established in 2009 by Managing Director Peter Cowan, Westfield Brokers, which trades under the name of Westfield Insurance, is an independent commercial broker based in Horsham, West Sussex. The firm offers a range of general insurance products, including, fleet, ... Read the full article
SRS agrees to acquire Garnet Captive Insurance Services
3rd April 2024
Strategic Risk Solutions (SRS), an independent insurance company manager, has agreed to acquire Garnet Captive Insurance Services, a provider of alternative risk consulting and brokerage services, including captive insurance program services. Founded in 2002, the Philadelphia-based PA firm partners with select retail brokers to educate and implement group captive solutions for ... Read the full article
Fleming still willing to acquire JRG Re on the right terms: CEO Haller
2nd April 2024
Fleming Insurance Holdings CEO Eric Haller has suggested that while the firm will continue to defend itself against the "meritless lawsuit" recently filed by James River Group Holdings, Fleming remains willing to acquire JRG Re "if James River cures its breaches of the agreement.” If you recall, on the 8th ... Read the full article
GIC completes acquisition of Cinven’s shares in UK broker Miller
28th March 2024
Global investment firm GIC has completed the acquisition of Cinven’s shares in Miller, a transaction that “secures long-term independent future for Miller as a leading specialist broker.” Having announced GIC’s acquisition plans back in December 2023, Miller has undergone a period of significant expansion - driven by both strong organic ... Read the full article