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.
“Global reinsurance M&A transactions limited next year” – Fitch Ratings
10th August 2022
A new note from Fitch Ratings says that M&A transactions in the global reinsurance sector will be limited into 2023 amid investor concerns over macroeconomic risks and heightened catastrophe losses linked to climate change. As a result, the firm said that it expected reinsurers to prioritise pricing, risk management and organic ... Read the full article
Arthur J. Gallagher acquires Evergreen Insurance Managers
10th August 2022
Arthur J. Gallagher & Co. has acquired Evergreen Insurance Managers for an undisclosed amount. A statement from the firm said it had purchased the wholesale insurance broker and commercial insurance MGA through its Risk Placement Services (RPS) division. J. Patrick Gallagher, Jr., chairman, president, and CEO of Gallagher, said: "The Evergreen team ... Read the full article
Mitsui Sumitomo confirms Transverse acquisition
10th August 2022
Japanese insurance group Mitsui Sumitomo Insurance (MSI) has confirmed that it plans to acquire hybrid P&C program and fronting carrier specialist Transverse Insurance Group, after rumours of a potential deal surfaced last week. MSI has not yet disclosed a price for purchasing Transverse from its current owners, Virgo Investment Group, ... Read the full article
Gallagher acquires risk management consultancy, AnotherDay
9th August 2022
Global insurance and reinsurance brokerage Gallagher has acquired specialist crisis and risk management consultancy, AnotherDay. Founded in 2016, AnotherDay is a UK-based risk management consultancy, helping organisations pre-empt and prepare for complex threats, react to crises and investigate criminality through the use of intelligence and technology. The firm employs around 20 risk, ... Read the full article
Truist Insurance Holdings to acquire BenefitMall
9th August 2022
US based Truist Insurance Holdings, a Truist Financial Corporation subsidiary, has signed a definitive agreement to acquire BenefitMall, a general agency broker services, from funds managed by global investment firm Carlyle. According to the announcement, the transaction will add approximately $150 million of annual revenue to Truist Insurance Holdings' wholesale division. ... Read the full article
Strategic Risk Solutions drives expansion in South Africa with acquisition of Southern Cross
8th August 2022
Strategic Risk Solutions (SRS) has acquired Southern Cross, an insurance management services provider based in South Africa. At the same time, founder and Chief Executive Officer (CEO) of Southern Cross, Terry Petyt joins SRS as Managing Director and Leader of SRS South Africa. With Southern Cross since 2013, Petyt was responsible for ... Read the full article
Phoenix Group to acquire Sun Life UK for £248 million
8th August 2022
Life consolidator Phoenix Group is set to acquire Sun Life UK, a closed book UK life insurance company, for £248 million, funded from existing cash resources. The deal is expected to deliver c.£470 million of incremental long-term cash generation, with approximately 30% of this cash generation to emerge in the first ... Read the full article
Mitsui Sumitomo reported on verge of $400m Transverse acquisition
7th August 2022
Japanese insurance group Mitsui Sumitomo has been reported to be on the verge of a $400 million acquisition of hybrid P&C program and fronting carrier specialist Transverse Insurance Group. Japanese newspaper the Nikkei reported the news and said a deal for the rumoured roughly $400 million acquisition could be announced before ... Read the full article
Jensten Group acquires MGA, Origin UW Limited
5th August 2022
The Jensten Group, one of the UK's leading insurance distribution businesses, has completed a deal to acquire managing general agent (MGA), Origin UW Limited, following regulatory approval. Origin UW is a ‘boutique’ MGA that provides commercial insurance for SME businesses and professionals. Origin also specialises in writing business for clients with a ... Read the full article
Tokio Marine Kiln completes sale of US construction business to Intact
3rd August 2022
Tokio Marine Kiln (TMK) has completed its sale of Tokio Marine Highland’s (TMH) US construction division to Intact Insurance Group USA LLC with effect from 1st August 2022. Intact, conducting business under the brand name Intact Insurance Specialty Solutions, announced today that it has finalised the acquisition of Highland Insurance Solutions, ... Read the full article
IGI to acquire Norwegian MGA Energy Insurance Oslo
3rd August 2022
International General Insurance Holdings Ltd. (IGI) has signed a non-binding letter of intent to acquire Energy Insurance Oslo AS (EIO), a managing general agency based in Norway. The proposed transaction includes the acquisition of 100% of EIO’s shares and is expected to close in Q3, subject to regulatory approval. Upon completion of ... Read the full article
Aston Lark Ireland acquires Sparrow Insurances
3rd August 2022
Insurance broker and Howden company, Aston Lark Ireland, has acquired Sparrow Insurances Limited. Sparrow Insurances offers a full range of commercial and personal insurance products as well as life, pensions and investment products to its clients. Over the years, the company has established a strong brand and excellent reputation as a trusted ... Read the full article
Athora completes Amissima Vita acquisition
2nd August 2022
European life insurance and reinsurance group Athora Holding, Ltd, has announced it has completed the acquisition of Italian life insurer, Amissima Vita. Athora agreed to acquire Amissima Vita back in September 2021 as part of its continuing growth strategy focused on traditional life savings and pension products. With the closing of ... Read the full article
White Mountains completes sale of NSM to Carlyle
2nd August 2022
White Mountains Insurance Group, Ltd. (White Mountains) has completed the sale of NSM Insurance Group to investment funds affiliated with global investment firm, Carlyle. The transaction, originally announced in May, values NSM at $1.775 billion. Additionally, it was previously reported that White Mountains expects the transaction will result in a gain ... Read the full article
Howden agrees to acquire French firm CRF
29th July 2022
Insurance and reinsurance broker Howden has signed an agreement to acquire broker firm CRF. The firm said in a statement that this was its first acquisition in France since appointing Nicolas Aubert as CEO of Howden France. CRF was founded in 1999 and focuses on financial lines. Aubert said in a statement: ... Read the full article