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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.

M&A activity looms over Bermudian market: A.M. Best

4th April 2017

M&A activity “looms” over the Bermudian market as global re/insurers look to grow their books in a market where fresh underwriting ground is becoming increasingly scarce, A.M. Best analysts said in their recent report on Bermudian market trends. Analysts said conditions in Bermuda were “ripe” for more M&A activity, although questions which ... Read the full article

Fairfax-Allied World deal edges closer as shareholders announce vote of approval

23rd March 2017

Allied World Assurance Company Holdings has revealed that its shareholders have approved two proposals surrounding its previously announced merger deal with Canadian firm Fairfax Financial Holdings, bringing the transaction closer to completion. Earlier in March Fairfax exercised its option to increase the cash consideration element of the acquisition by $18 per ... Read the full article

Hannover Re pays £142.5 million for Argenta: Reports

22nd March 2017

Germany domiciled reinsurance giant Hannover Re reportedly paid £142.5 million to acquire UK holding firm Argenta Holdings, according to a recent article. The acquisition of Argenta Holdings, the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121, was announced ... Read the full article

R&Q acquires captive insurer ICDC

22nd March 2017

Randall & Quilter Investment Holdings (R&Q) has announced its acquisition of American Fortune 500 captive insurer, ICDC. ICDC reinsured its parent company for workers' compensation, commercial general liability, business auto liability, business auto physical damage and property risks. As of 31st December 2016 it had a total net asset value of $7.95 million, ... Read the full article

R&Q acquires Bermudian captive insurer, Linco Limited

21st March 2017

Randall & Quilter American Holdings Inc., the U.S. subsidiary of specialist non-life insurance investor, service provider and underwriting manager, Randall & Quilter Investment Holdings (R&Q), has announced the acquisition of Bermuda captive Linco Limited. Domiciled in Bermuda, Linco provided reinsurance protection to its shareholders for workers' compensation, general and automotive liability, and ... Read the full article

Hannover Re acquires Lloyd’s firm Argenta Holdings

20th March 2017

Hannover Re has agreed to acquire UK holding firm Argenta Holdings - the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd's syndicate Argenta Syndicate 2121. According to Argenta, Lloyd’s Syndicate 2121 has a stamp capacity for 2017 of £300 million. The firms ... Read the full article

Global re/insurance M&A activity forecast to increase: KPMG

20th March 2017

Financial advisory firm, KPMG, said insurance industry mergers and acquisitions could see a hike this year after 84% of companies surveyed said they had 1-3 M&As in the pipeline. Out of the 200 global insurance industry leader survey participants surveyed, one-third said adapting their business model to deal with the emerging ... Read the full article

M&A more expensive as Asian reinsurers seek diversification: Fitch

17th March 2017

M&A activity became more competitive last year, with valuation multiples shooting up as Chinese and Japanese reinsurers follow international earning diversification strategies, according to Fitch's newly released study on reinsurance market trends. Fitch said valuation multiples for M&A activity had risen last year to nearly 2.0x due to the influx of Asian ... Read the full article

Fairfax to pay more cash for Allied World

13th March 2017

Fairfax Financial Holdings Limited has exercised its option to increase the cash consideration element of its offer to acquire Allied World by $18 per ordinary share, which, combined with a $5 special dividend takes the cash consideration component of the offer to $28 per share. Fairfax and Allied World recently announced that ... Read the full article

Croatia Osiguranje receives approval to absorb reinsurer Croatia Lloyd

8th March 2017

Croatia domiciled insurance company, Croatia Osiguranje, has announced that it received approval to complete the takeover of local reinsurance entity Croatia Lloyd. The reinsurer has been operating in the region for more than 45 years and, following approval from HANFA, the region's financial services supervisory agency, Croatia Osiguranje can now complete its proposed transaction, and absorb ... Read the full article

J.C. Flowers & Co acquires UK General Insurance Group

6th March 2017

Investment firm J.C. Flowers & Co has announced plans to acquire British personal lines insurance provider UK General Insurance Group. Financial agreement terms are undisclosed, and the acquisition remains subject to regulatory change of control approval from the UK Financial Conduct Authority. UK General is a leading UK personal lines insurer, offering ... Read the full article

Enstar to sell Pavonia Life to Global Bankers Insurance Group for $120m

20th February 2017

Bermuda based insurance, reinsurance and run-off specialist Enstar Group has announced a $120m agreement to sell its Pavonia Holdings (US), Inc. subsidiary to an affiliate of Global Bankers Insurance Group for $120 million. Enstar originally acquired the Pavonia business, which includes Pavonia Life Insurance Company of Michigan, Pavonia Life Insurance Company of ... Read the full article

Aon to sell Benefits Admin & HR BPO platform to Blackstone

10th February 2017

Global insurance and reinsurance broker Aon has agreed to sell the Benefits Administration & HR Business Process Outsourcing (BPO) platform of its Aon Hewitt division to Blackstone, for up to $4.8 billion. The broker announced that it's signed a definitive agreement to sell the business units to investment giant Blackstone for ... Read the full article

Fairfax Financial heads to New Zealand with $197m Tower acquisition

9th February 2017

Prem Watsa's Fairfax Financial, which owns Brit Insurance and is in the process of acquiring re/insurer Allied World, is entering the New Zealand insurance market with the acquisition of Tower Insurance. Announced today, Fairfax Financial has made an all cash offer at $1.17 per share, so valuing the insurer at ... Read the full article

ACR completes acquisition of ACR Malaysia and ACR ReTakaful

2nd February 2017

Reinsurer ACR Capital Holdings today announced the completion of its acquisition of Asia Capital Reinsurance Malaysia and ACR ReTakaful Holdings. The acquisition will see ACR Malaysia and ACR ReTakaful, including operating entities ACR ReTakaful Berhad in Kuala Lumpur and ACR Re Takaful MEA B.S.C. in Bahrain, operate as wholly owned subsidiaries ... Read the full article

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