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.
Relation Insurance Services acquires York Insurance in Maryland
3rd July 2024
Insurance brokerage, Relation Insurance Services, has acquired the assets of York Insurance Services, Inc. (York). The transaction went into effect on May 31, 2024. Terms of the transaction were not disclosed. Based in Forest Hill, Maryland, York offers a full range of insurance products including auto, personal and business insurance. “Joining Relation enables us ... Read the full article
Blue Owl completes acquisition of Kuvare Asset Management
2nd July 2024
Alternative asset manager Blue Owl Capital Inc. has completed its previously announced acquisition of Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM), marking the official launch of Blue Owl Insurance Solutions. The $750 million acquisition enhances Blue Owl's ability to serve the insurance market at scale. Working across the firm's ... Read the full article
Bermudian BF&M and Argus amalgamation to enhance P&C, Life, Health, and Pensions portfolio
28th June 2024
BF&M Limited, the holding company of the BF&M group of companies, and Argus Group Holdings Limited has announced they plan to combine and create a new combined Bermuda-headquartered multi-line insurer. Both Bermudian companies have signed a definitive amalgamation agreement, pursuant to which BF&M and Argus will combine in an all-stock transaction. According ... Read the full article
MSI reveals merger of equals plan for European subsidiaries
27th June 2024
Mitsui Sumitomo Insurance (MSI) has revealed plans to consolidate the talent and strength of its European subsidiaries, MS Amlin Insurance S.E. (MSAISE) and MSIG Insurance Europe AG (MSIGEU), in a merger of equals. According to MSI, which wholly owns both companies, a combined service offering across Europe will empower policyholders to ... Read the full article
AIG to sell its personal travel insurance & assistance business to Zurich
26th June 2024
Global insurer American International Group, Inc. (AIG) has entered into a definitive agreement with Zurich Insurance Group to sell the latter its global individual personal travel insurance and assistance business for $600 million in cash plus additional earn-out consideration. The sale is expected to close by the end of 2024, subject ... Read the full article
Phoenix Group exploring potential sale of its SunLife business
26th June 2024
The Board of Phoenix Group has revealed its intention to explore the potential sale of its SunLife Limited business. Following a strategic review, Phoenix has concluded that SunLife is "no longer core" to the delivery of its vision of becoming the UK's leading retirement savings and income business. The Board has thus ... Read the full article
Markel Group to acquire majority interest in Valor
26th June 2024
Global re/insurer Markel Group Inc. and Valor Environmental have entered into a definitive agreement for Markel Group to acquire a majority interest in Valor and its related operating companies. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2024. Additional terms of the ... Read the full article
Gallagher’s Artex acquires ICSR
25th June 2024
Artex Risk Solutions, the captive service provider and alternative risk transfer solutions subsidiary of insurance and reinsurance broker, Arthur J. Gallagher & Co., has acquired Implement Compliance Solutions & Resources Limited (ICSR). ICSR, based in London, specialises in providing consulting and support services related to compliance, governance, risk, and operations primarily ... Read the full article
SRG to acquire specialist schemes broker SISL
25th June 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has agreed to acquire specialist schemes broker, Strategic Insurance Services Limited (SISL), subject to regulatory approval. Based in West Sussex, UK, SISL was established in 1997 and provides a number of deeply specialist schemes with established relationships with insurers, brokers and financial services clients ... Read the full article
Marco to acquire Inceptum from R&Q, as R&Q confirms entry into liquidation
24th June 2024
R&Q Insurance Holdings Ltd has entered into an agreement to sell Inceptum Insurance Company Limited, a UK domiciled, legacy general insurance company, regulated by the PRA and FCA, to Marco Capital Holdings Limited, a Malta-based legacy acquisition group, for $11.25 million, subject to regulatory approval. The agreement represents the sale of ... Read the full article
Fusion Specialty and HDI Global Specialty SE expand partnership into the Americas
20th June 2024
Fusion Specialty, a provider of specialty insurance solutions, has announced the expansion of its global collaboration with HDI Global Specialty SE, a specialty insurer, which is now extending into the Americas. This partnership will offer increased capacity for representations and warranties (R&W), tax, and contingent insurance lines. David Rogers, Fusion’s Executive Chairman, ... Read the full article
R&Q confirms provisional liquidation in Bermuda to facilitate Accredited sale
19th June 2024
Following evaluation from its Board, R&Q has confirmed that it will be filing for a provisional liquidation in Bermuda and that it expects the previously announced sale of Accredited to Onex Corporation to be implemented through that process. If you recall, on the 13th of June, R&Q released an update ... Read the full article
Zurich acquires 70% of India’s Kotak General Insurance
19th June 2024
Zurich Insurance Company's acquisition of a majority stake in Kotak Mahindra General Insurance Company Limited, for a total consideration of Rs. 5,560 crores (USD 670 million), makes it the first foreign insurer to enter India since the FDI rules were changed to allow up to 74% foreign ownership in 2021. Together, ... Read the full article
DARAG and UnipolSai form service partnership
17th June 2024
DARAG Group, a (re)insurance specialist in discontinued business and capital and operational relief, has entered into a service agreement with UnipolSai Assicurazioni S.p.A. (Unipol), an Italian insurer within the Unipol Group. Unipol is a major player in non-life insurance and motor vehicle third-party liability (TPL) in Italy. Under this agreement, DARAG Deutschland ... Read the full article
Sampo makes €4.42bn offer for Topdanmark remaining shares
17th June 2024
Finish insurer Sampo has revealed it intends to acquire all of the outstanding shares in P&C insurer Topdanmark not already owned for 33 billion Danish Krone (€4.42 billion). Sampo already owns around 48.5% of Topdanmark, with this new consideration representing a premium of 27% to the closing share price of the ... Read the full article
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