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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.

InsurTech Hippo adds Spinnaker to family of companies

3rd June 2020

Hippo, the California-headquartered, homeowners focused InsurTech, has entered into a definitive agreement, pending regulatory approval, to acquire Spinnaker Insurance Company. Founded in 2015, Hippo looks to transform home insurance and ownership by providing a more efficient and affordable service to U.S. homeowners. Since 2017, Hippo Insurance Services has partnered with Spinnaker as ... Read the full article

Carlyle Group & T&D acquire majority share in Fortitude Re from AIG

3rd June 2020

The Carlyle Group and T&D Holdings have completed their previously announced acquisition of a 76.6% interest in Fortitude Group Holdings, whose group companies include Fortitude Re, from AIG. First announced in November of last year, the deal has now closed following the receipt of regulatory approvals and customary closing conditions. Upon ... Read the full article

Skuld agrees sale of Lloyd’s Syndicate 1897 to RiverStone

2nd June 2020

Marine insurer Skuld has reached an agreement with The RiverStone Group for the sale of its Lloyd’s Syndicate 1897, which was placed into run-off in July 2019. The transaction is subject to regulatory approval. Following a competitive process which began in autumn 2019, Skuld selected RiverStone as run-off provider for Syndicate ... Read the full article

Tokio Marine HCC completes GCube acquisition

1st June 2020

Tokio Marine HCC has completed its previously announced acquisition of GCube, creating a new 'centre of excellence' for renewable energy insurance. The acquisition of specialist renewable energy insurer, GCube by Tokio Marine HCC was announced in early March. The deal combines GCube's extensive track record supporting renewables developers and asset ... Read the full article

Monument Re completes GreyCastle acquisition

28th May 2020

Life reinsurance and insurance holding company, Monument Re, has completed its previously announced acquisition of GreyCastle Holdings Ltd and its subsidiaries. The deal was announced towards the end of March, 2020 and sees Monument Re acquire a Bermuda-based manager of annuity and life risks. GreyCastle was established in 2014 by a ... Read the full article

Nordic Capital to acquire Max Matthiessen from WTW

26th May 2020

Nordic Capital, a leading investor in the financial services sector, has announced the acquisition of Max Matthiessen from global insurance and reinsurance broker, Willis Towers Watson (WTW). Max Matthiessen is one of the leading financial advisors within pensions, insurance and investment in the Nordic region. Established in 1889 and headquartered in ... Read the full article

Neon’s Lloyd’s managing agency platform for sale in TigerRisk run process

22nd May 2020

The Lloyd's of London managing agency platform of in run-off Neon Underwriting, part of American Financial Group, Inc., is up for sale in a process being run by broker TigerRisk Partners, we understand. AFG had announced that it was to exit the Lloyd’s marketplace at the beginning of this year, ... Read the full article

IRB Brasil Re eyeing competitors’ LatAm portfolios: Reports

22nd May 2020

It’s believed Brazilian reinsurer IRB Brasil Re is in advanced talks with rivals across Latin America as the firm looks to buy up portfolios and strengthen its position in the region. Reuters, citing two sources close to the reinsurer, says the move is an attempt to capitalise on decisions by rivals ... Read the full article

Call for Watford to be sold as reinsurer falls “horribly short of expectations”

19th May 2020

In a recent letter, the principal of investment firm Capital Returns Management, Ronald Bobman, has called for Bermuda-based reinsurer Watford Holdings Ltd to consider selling itself, potentially to a runoff specialist. A letter that was sent on Friday highlighting unprofitable underwriting returns and poor investment results at the company, called for ... Read the full article

Fitch affirms, removes PartnerRe from Rating Watch Positive

15th May 2020

Fitch Ratings has affirmed and removed PartnerRe’s ratings from Rating Watch Positive, including its 'A-' Issuer Default Rating and the 'A+' (Strong) Insurer Financial Strength rating of its principal reinsurance operating subsidiary. The Rating Outlook is Negative. PartnerRe’s removal from Positive Watch follows news that EXOR N.V. and Covea’s $9 ... Read the full article

Speculation returns that Covéa could bid again for SCOR

13th May 2020

Following French insurer Covéa's decision to pull out of its previously-agreed deal to purchase PartnerRe from Exor, speculation around a potential renewed bid for SCOR has resurfaced. As we reported earlier today, the acquisition of reinsurer PartnerRe by Covéa has been cancelled, after owner EXOR declined to renegotiate the price ... Read the full article

Covéa’s acquisition of PartnerRe from EXOR called off

13th May 2020

The acquisition of global reinsurer PartnerRe by French insurer Covéa has been abruptly called off, after owner EXOR declined to renegotiate the price in the context of the Covid-19 pandemic. Covéa had sought a renegotiation of the acquisition price for PartnerRe in the wake of the pandemic, but EXOR believes that ... Read the full article

OneAdvent acquires UK property MGA Modus

12th May 2020

MGA platform OneAdvent has announced its acquisition of Modus Underwriting Ltd., an MGA focused on providing niche property insurance products to brokers across the UK. OneAdvent believes the acquisition will strengthen its position in the landlord space. The two companies have been working together in advance of the acquisition to jointly develop ... Read the full article

Aon/WTW merger talks began in January 2019

11th May 2020

Discussions about a potential merger between re/insurance brokers Aon and Willis Towers Watson (WTW) began in January 2019, according to a new timeline of the transaction released by both firms. The document shows that CEOs Greg Case and John Haley first met on January 30, 2019 to explore options for a ... Read the full article

Hyperion’s DUAL acquires specialty underwriting agency in NZ

8th May 2020

DUAL, the underwriting arm of Hyperion Insurance Group, has announced the acquisition of a controlling interest in New Zealand specialty underwriting agency International Underwriting Agencies (IUA). “In these challenging times I’m delighted that DUAL has completed only the fourth acquisition in its long history and to welcome the IUA team,” said ... Read the full article

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