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.
Aviva completes £249m acquisition of Probitas
10th July 2024
Aviva has completed the acquisition of Probitas Holdings (Bermuda) Limited for a consideration of £249 million, marking the firm’s entry into the Lloyd’s market. If you recall, back in March, it was revealed that Aviva would acquire 100% of Probitas Holdings (Bermuda) Limited, the ultimate holding company of the Probitas ... Read the full article
SRG enhances equestrian capability with Carriagehouse acquisition
9th July 2024
Specialist Risk Group (SRG), the insurance intermediary, has acquired the ongoing business of Carriagehouse. Established over three decades ago, Carriagehouse plays a key role in supporting the equestrian industry by providing a wide range of specialist products, including, policies for horses and donkeys, horseboxes and horse trailers, carriages and harness and ... Read the full article
UK insurance M&A deal value hits £900m in H1 as total number increases: EY
9th July 2024
As per a new report from EY, the number of publicly disclosed M&A deals in the UK insurance industry increased from 54 in H1 2023 to 94 in H1 2024, while the overall disclosed deal value climbed from £400 million to £900 million. This information comes as part of EY’s latest ... Read the full article
Sampo obtains all regulatory approvals needed to acquire Topdanmark remaining shares
9th July 2024
Finish insurer Sampo has obtained all the necessary regulatory approvals for the exchange offer to the shareholders of P&C insurer Topdanmark. Back in June Sampo announced its intentions to acquire all of the outstanding shares in Topdanmark not already owned for 33 billion Danish Krone (€4.42 billion). The deal is subject ... Read the full article
Ardonagh Advisory acquires Rollinson Smith Insurance Brokers
9th July 2024
The SME broking platform of The Ardonagh Group, Ardonagh Advisory, has acquired Rollinson Smith Insurance Brokers (RSIB), the community broker servicing the Shropshire, Staffordshire, West Midlands and North Wales regions with considerable reach in London, as well as other areas of the United Kingdom. Established in 1974, RSIB offers commercial and ... Read the full article
Saudi Re to raise $71m via subscription agreement with PIF
8th July 2024
Saudi Arabia-domiciled reinsurer, Saudi Reinsurance Co. has announced plans to increase its capital by SR267.3 million (approximately USD 71 million) through a strategic subscription with the Public Investment Fund (PIF), a sovereign wealth fund, according to a filing with the stock exchange. In October 2023, the agreement was initially outlined ... Read the full article
Davies secures £1.5 billion refinancing to support growth initiatives
5th July 2024
Davies, a provider of specialised professional services and technology solutions for insurance and highly regulated markets, has announced a successful £1.5 billion refinancing of its senior debt facilities. This move significantly lowers its interest expenses, extends debt maturity dates, and secures additional credit lines to support its future growth initiatives. The agreement ... Read the full article
PIB expands presence in Poland with Nord Group acquisition
5th July 2024
PIB Group, a specialist insurance intermediary, has expanded its presence in Central and Eastern Europe with the acquisition of Nord Group, a provider of risk management, insurance and reinsurance solutions in Poland. PIB signed a conditional agreement to acquire 100% of the shares in the companies of Nord Group, which include ... Read the full article
Utmost Group to acquire Lombard International Assurance Holdings
4th July 2024
Utmost Group plc has agreed to acquire Lombard International Assurance Holdings Sarl, subject to regulatory approvals. The acquisition, expected to be completed by the end of 2024, encompasses Lombard’s European business, as Lombard International will become a part of Utmost International, the international life assurance business of Utmost Group. This acquisition ... Read the full article
SRG announces acquisition of political violence specialist, Tristar Special Risks
4th July 2024
Specialist Risk Group (SRG), the insurance intermediary, has announced its acquisition of Tristar Special Risks, the political violence specialist. For those who are not aware, Tristar Special Risks has a deep degree of expertise in terrorism insurance and supports broker partners across the UK through its coverage for all types of commercial ... Read the full article
Charles Taylor announces acquisition of M3 Aviation Services
4th July 2024
Charles Taylor, a provider of international adjustment services and technology solutions for the global insurance market, has announced the acquisition of M3 Aviation Services, effective June 27, 2024. Renowned for its expertise in handling aviation claims across various aircraft types, categories, and market sectors, Charles Taylor serves a wide range of ... Read the full article
AnaCap enters exclusive talks to acquire Cleva from Inetum
3rd July 2024
AnaCap, a private equity investor specialising in collaborations with founders and entrepreneurial management teams across services, technology, and software in the European financial sector, has entered into exclusive negotiations to acquire the insurance software provider Cleva from Inetum Group. This will be AnaCap’s second major investment in 2024, following the acquisition ... Read the full article
Marsh McLennan acquires employee benefits broker Hudson Shore Group
3rd July 2024
Marsh McLennan Agency, a subsidiary of Marsh, has acquired Hudson Shore Group, a public and private sector employee benefits broker based in Red Bank, New Jersey, US, in an undisclosed transaction. Founded in 2010, Hudson Shore Group specialises in public sector clients, providing employee benefits, consulting, and administrative services with a ... Read the full article
Howden expands French presence through AGEO acquisition
3rd July 2024
Global insurance intermediary group Howden has reached an agreement to acquire the AGEO brokerage group, an independent Employee Benefits insurance broker headquartered in Paris. Founded in 1984 by Eric and Maryse Oziebala, AGEO specialises in Employee Benefits, health insurance, policy administration and claims management platform, Retirement & Pensions services and boutique ... Read the full article
Arthur J. Gallagher & Co. acquires California-based Cornerstone
3rd July 2024
Re/insurance broker Arthur J. Gallagher & Co. has acquired California-based Cornerstone Commercial & Personal Insurance Services, Inc. (Cornerstone) in an undisclosed transaction. Cornerstone has been serving both commercial and personal clients, particularly in San Bernardino and Riverside counties in California. The agency’s specialisation in commercial real estate, construction, and homeowners associations is ... Read the full article
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