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.
R&Q shareholders reject acquisition, capital raise to proceed
26th May 2022
Shareholders of Randall & Quilter Investment Holdings Ltd (R&Q) have again rejected an acquisition of the company by Brickell PC Insurance Holdings LLC, which is backed by 777 Partners, but have instead approved plans to focus on a $100m+ capital raise. R&Q failed to gain shareholder approval for the acquisition ... Read the full article
Brookfield Reinsurance acquires American National for $5.1bn
25th May 2022
Brookfield Reinsurance has announced that it has completed its acquisition of American National in an all-cash transaction, valued at approximately $5.1 billion. Under the terms of the transaction, which was originally announced in August 2021, Brookfield Reinsurance acquired all issued and outstanding shares of American National Group, Inc, at a ... Read the full article
R&Q says 777 Partners backed Brickell pulling out of acquisition
25th May 2022
Randall & Quilter Investment Holdings Ltd (R&Q) has said this morning that Brickell PC Insurance Holdings LLC, which is backed by 777 Partners, has said it aims to terminate the acquisition agreement the pair were trying to implement. The deal, which was announced at the start of April, valued Randall ... Read the full article
Aegon sells stake in Spanish joint insurance venture
25th May 2022
Aegon has announced plans to sell its 50% stake in the Spanish insurance joint venture with Liberbank to Unicaja Banco, following a change of control in Liberbank after its merger with Unicaja Banco in 2021. The gross proceeds of the transaction amount to €177 million, representing 22 times 2021 operating result ... Read the full article
Zurich sells Russian business
23rd May 2022
Global insurer Zurich has agreed to sell its business in Russia to eleven of the unit’s team. The firm said that under its new owners, the business will operate independently under a different brand, while Zurich will no longer conduct business operations in Russia. The transaction will allow the new company to ... Read the full article
R&Q fails to get sufficient shareholder votes for acquisition at first attempt
20th May 2022
Shareholder voting on the proposed takeover of Randall & Quilter Investment Holdings Ltd (R&Q), the non-life global specialty insurance company focused on program management and legacy transactions, in a deal backed by investment group 777 Partners, has been adjourned as the company seeks to gain additional support for the deal. Today, ... Read the full article
MIB acquires APEXA
19th May 2022
MIB has acquired APEXA from Reinsurance Group of America. The company said it was buying the contracting and compliance service provider for life insurance advisors, MGAs, and carriers, expanding its portfolio of digital solutions and client base within Canada. APEXA's platform connects the Canadian life insurance carriers, MGAs, and advisors through ... Read the full article
Artex completes transition of ILS specialist Horseshoe
17th May 2022
Artex, re/insurance broker Gallagher's alternative risk solutions company, has now completed the rebranding of Horseshoe Insurance Services Holdings Ltd. following its acquisition of the company in late 2019. Announced in October 2019, Artex's agreement to acquire Horseshoe, a Bermuda-based provider of insurance management fund administration, advisory and corporate services to ... Read the full article
UK and Ireland lead Q1 European M&A figures with 44 deals
17th May 2022
Analysis by FTI Consulting shows that the UK and Ireland region continued to lead the European market for insurance industry mergers and acquisitions (M&A) activity, with 44 announced transactions in Q1 2022. This represented a decline from 71 signed transactions in Q1 due to the increased saturation of the UK and ... Read the full article
Slowdown in European insurance M&A over Q1
16th May 2022
New market research by FTI Consulting shows a slight slowdown in European insurance M&A deal volumes relative to Q1 2021, which it says were affected by macro trends such as the pandemic and the Russia-Ukraine conflict. In part, analysts noted that the comparative slowdown likely reflects the backlog of transactions that ... Read the full article
Risk Strategies announces acquisition of The Insurance Center of Central Florida
13th May 2022
Leading national specialty insurance brokerage and risk management firm, Risk Strategies has announced that it has acquired The Insurance Center of Central Florida (ICCF), a firm primarily focused on crafting risk management solutions for private clients. Terms of the deal have not been announced. Headquartered in Melbourne, Florida, ICCF was founded 31 ... Read the full article
Howden buys Singapore-based AEGIS
12th May 2022
Howden has acquired the business and assets of Singapore-based insurance agency AEGIS. The firm said in a statement that the acquisition underlined its commitment to the Asian market. Goh Chye Huat, CEO of Howden Asia, said: “The acquisition of AEGIS reflects our broader strategy of empowering local teams to partner with culturally ... Read the full article
Zurich in talks over sale of $21bn German life portfolio to Viridium: reports
11th May 2022
Global insurer Zurich is reportedly in advanced talks over the sale of a €20 billion (USD 21bn) portfolio of German life insurance policies to Viridium Group, part of Cinven. According to Bloomberg, people familiar with the matter said that Zurich could announce the planned sale as soon as this week. However, an ... Read the full article
ALM. Brand acquires Codan DK, announces management appointments
11th May 2022
Canadian property and casualty (P&C) insurer Intact Financial Corporation, and Scandinavian insurer Tryg A/S, has announced the completion of the sale of Codan Forsikring A/S’s Danish business – Codan Denmark (Codan DK) to Alm. Brand A/S Group. In June 2021, it was announced that Codan DK was acquired by Alm. ... Read the full article
White Mountains to sell NSM Insurance Group to Carlyle
9th May 2022
White Mountains Insurance Group (White Mountains) has announced that it has signed a definitive agreement to sell NSM Insurance Group (NSM) to investment funds affiliated with global investment firm, Carlyle. The transaction values NSM at $1.775 billion. In a press release, it says that White Mountains expects the transaction will result in ... Read the full article