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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.

Allstate exits life & annuity businesses with sale of ALNY to Wilton Re

29th March 2021

The Allstate Corporation has completed its exit from the life and annuity sectors with the sale of Allstate Life Insurance Company of New York (ALNY) to Wilton Re for a sum of $220 million. Under the terms of this definitive agreement, Allstate divests ALNY and also terminates an ALIC stop-loss reinsurance ... Read the full article

Allianz considering offer for The Hartford after Chubb rejection: reports

29th March 2021

German re/insurer Allianz is exploring an offer for The Hartford, after the U.S. property and casualty insurer rejected a recent offer from Chubb, according to Bloomberg reports. Bloomberg, citing people familiar the matter, reports that Allianz is discussing options with potential advisers and views The Hartford as one of the remaining ... Read the full article

Aon / WTW: Reports say EC remedy package in development, progressing

29th March 2021

Aon and Willis Towers Watson (WTW) are making progress in developing a remedy proposal for European Commission regulators, as the pair look to be proactive in making concessions to get the merger completed, according to reports. As we've previously written, competition related concerns are said to be rising, with the ... Read the full article

49% of industry participants felt Chubb would need a higher bid to land Hartford

26th March 2021

Having approached our industry contacts following news that Chubb was lining up an acquisition attempt for rival insurer Hartford, Reinsurance News found 49% believed a higher asking price would be needed for the mega transaction to go ahead. Interestingly our findings came just hours before The Hartford’s board rejected ... Read the full article

Aviva sells Polish arm to Allianz for €2.5bn

26th March 2021

London-headquartered insurer Aviva has reached an agreement with Allianz to sell its entire shareholding in Aviva Poland for €2.5 billion in cash. The deal, which values the Polish business at €2.5 billion, follows the sale of Italian P&C unit Aviva Italia S.p.A. to Allianz for €330 million earlier this month. In ... Read the full article

Aon / WTW considering sale of Gras Savoye in France, reports suggest

25th March 2021

According to L’argus de l’assurance, rumors circulating in the French broking market suggest that Willis Towers Watson (WTW) could be considering a sale of its Gras Savoye unit ahead of its planned merger with Aon. The proposed combination of the broking giants is currently under investigation by regulators, with concerns centering ... Read the full article

Constellation to acquire Ohio National in $1bn transaction

23rd March 2021

US insurance holding company Constellation has entered into an agreement to acquire Ohio National Mutual Holdings and its subsidiary Ohio National Financial Services for a total consideration of $1 billion. The transaction sees Constellation fund cash payments or policy benefits, in the aggregate amount of $500 million, to be paid or ... Read the full article

QOMPLX acquires cybersecurity firm Hyperion Gray

23rd March 2021

Risk analytics provider QOMPLX has closed an acquisition of cybersecurity intelligence firm Hyperion Gray. Hyperion Gray’s team of software engineers, data scientists, and offensive security experts have now joined the QOMPLX team as members of its cybersecurity and analytics teams. “Hyperion Gray’s unique approach to cybersecurity and intelligence furthers QOMPLX’s work for ... Read the full article

The Hartford Board unanimously rejects Chubb acquisition offer

23rd March 2021

After consultation with its financial and legal advisors, The Hartford has announced that its Board of Directors has unanimously rejected re/insurer Chubb's approximately $23.24 billion acquisition offer. Following reports in the media that Chubb had approached carrier The Hartford over a potential acquisition, Chubb later confirmed it had made ... Read the full article

Centauri maintains “A” rating following acquisition by Applied Underwriters

23rd March 2021

The Centauri Specialty and National Insurance Companies have sustained a Financial Stability Rating of "A" (Exceptional) from Demotech following their acquisition by Applied Underwriters. Demotech said its decision followed extensive examinations measuring claims paying ability, financial reserves and overall financial stability. It says the Sarasota-based insurer, with over $200 million in annual ... Read the full article

Fairfax looks to take Singapore Re fully private under 100% ownership

22nd March 2021

Fairfax Asia Limited, the Asian holding company for operating entities of Fairfax Group in the region, has made a voluntary conditional cash offer to acquire all of the issued and paid-up ordinary shares in the capital of Singapore Reinsurance Company Limited. Fairfax, which alongside the concert group currently owns 28.18% of ... Read the full article

Fitch affirms Aon, stays positive on WTW despite merger uncertainty

19th March 2021

Fitch Ratings has affirmed the 'BBB+' Issuer Default Rating (IDR) for Aon and removed its Negative Rating Watch, while maintaining Willis Towers Watson’s 'BBB' Long-Term IDR and issue-level ratings on Rating Watch Positive. This move from the ratings agency is directly linked to the much-talked about combination between the two ... Read the full article

Chubb approaches The Hartford over $23.24bn combination

19th March 2021

Global insurer and reinsurer Chubb has confirmed that it has made an approximately $23.24 billion acquisition offer for The Hartford, valuing the firm at $65 per share. Late yesterday, reports emerged that Chubb was considering the takeover of rival insurer The Hartford. Chubb has now confirmed that on March 11th, it ... Read the full article

CFC acquires Australian cyber security firm Insane Technologies

19th March 2021

Specialist insurer CFC has extended its in-house cyber incident response team with the acquisition of Insane Technologies, an Australian cyber security and incident response provider. With the addition of Insane Technologies, CFC says it has deepened its roster of in-house technical experts. “Like us, Insane have been handling cyber security incidents for ... Read the full article

Chubb eyeing acquisition of rival insurer Hartford, reports

18th March 2021

It appears as though global insurer Chubb could be eyeing a takeover bid for rival carrier Hartford Financial Services, according to reports emerging from Bloomberg. Chubb is led by Chief Executive Officer Evan Greenberg and is reported to be in the process of weighing up an acquisition for a rival currently ... Read the full article

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