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.
Ageas in talks to acquire Saga’s underwriting unit and form UK broking partnership
11th October 2024
International insurance group Ageas has confirmed that it has entered into exclusive negotiations to ink two major deals with Saga plc, a UK specialist provider of products and services to people aged over 50. The proposed transaction would see both organisations establish a 20-year partnership for the distribution of personal lines ... Read the full article
Ardonagh completes acquisition of PSC Insurance Group
11th October 2024
The Ardonagh Group has confirmed it has completed the acquisition of PSC Insurance Group Limited. As per the insurance broking platform, the completion of this acquisition in the APAC region sees PSC’s operations in Australia and New Zealand now combined with its platform in the region, The Envest Group, led ... Read the full article
Protective Life Corporation sells Concourse Securities and Concourse Agency
9th October 2024
Protective Life Corporation (Protective), a U.S. subsidiary of Dai-ichi Life Holdings, has entered into agreements to sell Concourse Financial Group Securities (Concourse Securities) and Concourse Financial Group Agency (Concourse Agency). This includes an asset purchase agreement with Cetera Financial Group (Cetera) to acquire Concourse Securities, and a stock purchase agreement with ... Read the full article
Aon’s NFP expands P&C offerings through Miller Insurance Group acquisition
9th October 2024
NFP, a company under Aon and a broker in property and casualty (P&C) insurance, benefits consulting, wealth management, and retirement plan advising, has acquired Richard S. Miller & Sons, Inc. dba Miller Insurance Group (MIG), a P&C and benefits agency with multiple offices in Indiana. Established in 1937, MIG provides commercial ... Read the full article
Optio Group continues European expansion with MGA Heca acquisition
9th October 2024
Optio Group, a specialty Managing General Agent (MGA), has acquired a strategic investment in Italian MGA Heca S.r.l. (Heca) for an undisclosed amount. This move aligns with Optio’s strategy to expand across Europe and reflects its confidence in Heca’s potential for future growth. Founded in 2010 in Ortona, Italy, Heca has quickly ... Read the full article
Brown & Brown acquires Minnesota-based The Canopy Group
4th October 2024
Insurance brokerage firm, Brown & Brown has announced one of its subsidiaries has acquired the assets of The Canopy Group, a multiline insurance agency focusing primarily on personal lines and commercial property and casualty for small businesses. Situated in Le Sueur, Minnesota, The Canopy Group caters to the needs of over ... Read the full article
Howden acquires UK and Ireland’s largest beauty membership providers ABT & AIT
4th October 2024
Howden has acquired Associated Beauty Therapists Ltd (ABT) and Associated Irish Therapists Ltd (AIT), two beauty membership providers that offer insurance broking services to members operating in the heath, wellbeing and beauty sectors in the UK and Ireland. ABT and AIT specialise in arranging the full range of covers, including medical ... Read the full article
Optio Group acquires Luxembourg-based MGA, Circles
3rd October 2024
Optio Group, a specialty managing general agent (MGA) has acquired the Luxembourg-based MGA, Circles Group (Circles) for an undisclosed sum, subject to regulatory approval. According to the announcement, the acquisition of Circles marks Optio's largest in Europe to date. At the same time, the acquisition also represents a critical development in Optio's ... Read the full article
Ryan Specialty completes acquisition of MGA Geo Underwriting Europe
3rd October 2024
Ryan Specialty, an international specialty insurance firm, has completed the acquisition of certain assets of Geo Underwriting Europe BV (Geo Europe), a European managing general agent (MGA) and part of The Ardonagh Group. This follows the initial announcement of the acquisition on September 3, 2024. Based in Rotterdam, Netherlands, with operations ... Read the full article
McGriff acquires Amity Benefits to enhance employee benefits practice
3rd October 2024
McGriff, a US-based retail insurance broker, has announced its acquisition of Amity Benefits, a full-service retail employee benefits brokerage located in Tampa, Florida. Mike Breedlove, National Sales and Growth Leader at McGriff, expressed enthusiasm about the acquisition, stating, “We’re thrilled to welcome Brian and the talented team at Amity to McGriff. “Their ... Read the full article
Miller completes acquisition of Madrid-based broker Bruzon
1st October 2024
Independent specialist insurance and reinsurance broker Miller has completed its acquisition of Madrid-based commercial re/insurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and Bruzon Services S.A. (Bruzon). This acquisition follows the initial announcement made in May 2024. Founded in 1990, Bruzon is a leading broker in Spain, focused on the ... Read the full article
PIB Group acquires RS Insurance Brokers
1st October 2024
PIB Group, the specialist insurance intermediary has acquired Nottingham-based RS Insurance Brokers, adding RS’s expertise in Fleet and Professional Indemnity in particular to its portfolio of specialisms. From what Reinsurance News understands, eight people will be moving into PIB from RS. RS's owner and Managing Director, Karll Smith, said that selling his ... Read the full article
B.P. Marsh acquires 44% shareholding in Czech MGA CEE Specialty
30th September 2024
B.P. Marsh has expanded its portfolio with the acquisition of a 44% stake in Czech marine and liability MGA CEE Specialty, providing €3.3m of funding which was utilised in full to effect a management buy-out. CEE Specialty is an underwriting agency founded in 2019 specialising in Marine Hull, Bonds and Liability ... Read the full article
SRG completes investment partnership with Warburg Pincus and Temasek
30th September 2024
Insurance industry intermediary Specialist Risk Group (SRG) has announced the completion of the transaction for the majority of its shares to be acquired by global growth investor, Warburg Pincus, and Temasek, a global investment company headquartered in Singapore. It's important to note, that SRG's partnership with both investors aims to support ... Read the full article
Marsh McLennan to acquire McGriff Insurance Services in $7.75bn transaction
30th September 2024
Marsh McLennan, the global insurance and reinsurance broker, has reached an agreement through its subsidiary, Marsh McLennan Agency to acquire full-service insurance brokerage, McGriff Insurance Services, LLC, for a cash consideration of $7.75 billion, funded by a combination of cash and proceeds from debt financing. Under the terms of the transaction, ... Read the full article
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