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.
Generali agrees to sell Philippines business to Insular Life
4th December 2024
Italian insurer Generali has reached an agreement for the sale of its 100% stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd. According to Generali, the agreement is aligned with its strategic plan to drive sustainable growth, enhance its earnings profile, and optimise its geographical footprint. The ... Read the full article
AIG completes sale of personal travel insurance & assistance business to Zurich
3rd December 2024
Global insurer American International Group, Inc. (AIG) has successfully closed the previously announced sale of its global individual personal travel insurance and assistance business, including Travel Guard, to Zurich Insurance Group. It was previously revealed that AIG agreed to sell Zurich these operations for $600 million in cash, with an ... Read the full article
wefox to sell key carrier to Swiss consortium led by BERAG
3rd December 2024
Insurtech wefox Holding AG has reached an agreement with a group of Swiss companies (led by independent Swiss pension service provider BERAG) on the sale of Liechtenstein-based wefox Insurance AG. This follows the news from June about a restructuring effort, during which it was revealed that the Liechtenstein-domiciled insurance carrier, ... Read the full article
Potential acquisition of Direct Line by Aviva a credit positive for both groups: Moody’s
2nd December 2024
Analysts at Moody's Ratings have suggested that the potential acquisition of Direct Line by Aviva could bring credit positive benefits to both firms. Late last month, Direct Line rejected Aviva’s £3.28 billion 100% acquisition proposal, stating that it does not adequately reflect the company's standalone value, describing the offer as ... Read the full article
PIB Group acquires Netherlands-based broker and MGA platform Thoma
2nd December 2024
PIB Group, the specialist insurance intermediary, has acquired a Netherlands domiciled commercial lines insurance broker and managing general agent (MGA) platform, Thoma Exploitatie BV and its subsidiaries. The acquisition, which remains subject to regulatory approval in the Netherlands, bolsters PIB’s presence in the Benelux region, adding to the existing portfolio of ... Read the full article
Marco Capital completes acquisition of Inceptum from R&Q
29th November 2024
European P&C insurance run-off group Marco Capital Holdings Limited has completed its acquisition of Inceptum Insurance Company Limited, a UK non-life insurance company in run-off, from Randall & Quilter II Holdings Ltd. The acquisition was initially announced earlier this year, with reports stating that R&Q would receive £11.25 million from ... Read the full article
IAG to acquire 90% of RACQ’s insurance underwriting business
28th November 2024
Australian insurer IAG is to acquire 90% of RACQ’s existing insurance underwriting business for $855m, under a 25-year exclusive partnership between the two companies. According to the announcement, IAG also has the option to acquire the remaining 10% in two years on similar terms. RACQ Chief Executive Officer David Carter said: RACQ ... Read the full article
Direct Line rejects ‘highly opportunistic’ £3.28bn takeover bid from Aviva
28th November 2024
Direct Line has unanimously rejected Aviva's £3.28 billion ($4.16 billion) 100% acquisition proposal, stating that it does not adequately reflect the firm's standalone value, describing the offer as "highly opportunistic" and not in line with its long-term potential. In a recent announcement, Aviva confirmed that it made a 250-pence-per-share offer on ... Read the full article
AJ Gallagher acquires retail insurance broker Shepard
27th November 2024
Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting services firm, has announced its acquisition of Shepard Insurance Group, based in Old Greenwich, Connecticut. Shepard Insurance is a retail insurance brokerage that caters to high-net-worth clients in the Northeast United States and Florida. Steve Shepard, Kyle Shepard, and ... Read the full article
Aon to acquire Mitsubishi Chemical Group’s insurance agency in Japan
27th November 2024
Aon, a global professional services firm, has announced the signing of a definitive agreement to acquire the in-house insurance agency business of Mitsubishi Chemical Group (MCG), further strengthening the re/insurance broker's risk and health offerings in Japan. The insurance agency, currently operating as part of Dia Rix, MCG’s internal business services ... Read the full article
Bishop Street to acquire MGA Landmark Underwriting
25th November 2024
Bishop Street Underwriters, a multi-boutique insurance platform, has announced that it will acquire Landmark Underwriting, a specialty focused managing general agent (MGA) in the London Insurance market. The financial terms of the acquisition were not disclosed and it is subject to United Kingdom’s Financial Conduct Authority regulatory approval. Landmark Underwriting provides multi-disciplined ... Read the full article
South Korea’s Hanwha Life to acquire majority stake in US-based Velocity Clearing
22nd November 2024
Hanwha Life, a South Korean life insurance company, has agreed to acquire a 75% stake in the parent of Velocity Clearing, an US-based global financial services firm. The Velocity Clearing management team will retain the remaining minority stake in the company. With this acquisition, Hanwha Life will establish a presence in the ... Read the full article
Arthur J. Gallagher & Co. acquire THB Chile
21st November 2024
Re/insurance broker Arthur J. Gallagher & Co. has acquired Santiago-domiciled retail insurance broker THB Chile. The terms of the transaction were not disclosed. The retail insurance broker provides property & casualty, life and health benefits, and reinsurance services to clients throughout Chile. The THB Chile team will be led by Lionel Soffia, ... Read the full article
Optio continues European expansion with completion of Den Hartigh acquisition
21st November 2024
Managing general agent (MGA) Optio Group has completed the acquisition of Netherlands and Brussels based MGA Den Hartigh Beheer & Exploitatie B.V., a specialist in B2B insurance solutions. Established in 1916, Den Hartigh offers a variety of property and casualty insurance products. This includes coverage for land-based equipment, marine assets, and high ... Read the full article
Aon’s NFP acquires certain assets of AnchorGroup
20th November 2024
NFP, a subsidiary of Aon and a global insurance brokerage and consultancy, has announced the acquisition of certain assets of EBA Services LLC dba AnchorGroup. Kiehl Hutchings from AnchorGroup will join NFP as Vice President of Benefits and will report to Kelly Smith, Senior Vice President of Benefits. Kate Henry, President of ... Read the full article
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