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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.

Peak Re wraps up Lutece Holdings acquisition

5th May 2020

Hong Kong-based reinsurer Peak Re has completed its acquisition of the capital of Lutece Holdings and its subsidiary Lutece Investment Management, which will be renamed Peak Capital. The Bermuda-based ILS investment specialist is now a wholly owned subsidiary of Peak Re. The completion of the transaction follows the fulfilment of customary closing ... Read the full article

Paragon completes acquisition of Argo’s Trident Public Risk Solutions

4th May 2020

Paragon Insurance Holdings, LLC has completed its previously announced acquisition of Trident Public Risk Solutions from Argo Group International Holdings, Inc. It was announced in early February 2020 that Argo had agreed to sell the Trident brand and underwriting platform to Paragon, but retain the unit's claims operations. The deal has ... Read the full article

Positive timing of Tiberius deal supports IGI’s growth ambitions: IGI’s Jabsheh

30th April 2020

The timing of the transaction with Tiberius was both positive and opportune for IGI, while the simplified access to capital enables the insurer to grow in the current market, according to the company’s President, Waleed Jabsheh. Following its business combination with Tiberius, former Dubai-registered IGI became a public company ... Read the full article

K2 & Pioneer sign terms ahead of acquisition

30th April 2020

Pioneer Underwriters and K2 Insurance Services LLC have now signed terms for their previously announced transaction, under which Pioneer's ongoing underwriting portfolio, as well as underwriting and support staff, transfer to K2. With the terms of the transaction now signed, it's expected that the deal will complete by the end ... Read the full article

Aon, WTW merger to be a positive catalyst: CEO Greg Case

29th April 2020

Greg Case, the Chief Executive Officer of leading re/insurance broker Aon, believes his company’s forthcoming combination with Willis Towers Watson will be a positive catalyst enabling accelerated innovation on behalf of clients. In an official statement to colleagues earlier this week, Case noted how the all-stock combination requires no financing ... Read the full article

Beazley expands global M&A underwriting team

29th April 2020

Specialist insurer Beazley has expanded its mergers & acquisitions team in an effort to better service key markets and explore new opportunities. Joining in London are Lorraine Lloyd-Thomas and Cameron McCoy. Lloyd-Thomas joins from Marsh where she spent 14 years, most recently as a managing director in its UK private equity and ... Read the full article

B.P. Marsh investee firm XPT acquires 100% of Texas-based LP Risk

24th April 2020

B.P. Marsh & Partners Plc has announced that investee firm, XPT Group LLC, has acquired 100% of LP Risk, Inc, the Houston, Texas-based managing general agency (MGA) and surplus lines brokerage. As well as its headquarters in Houston, LP Risk has additional offices in Dallas and San Antonio (Texas). The MGA ... Read the full article

M&A wave to drive opportunities for equity market investors: Twelve Capital

22nd April 2020

A wave of restructuring and consolidation efforts in the re/insurance industry is expected to provide attractive opportunities for equity market investors, according to Twelve Capital. Twelve Capital – an independent investment manager specialising in insurance investments – noted that the global re/insurance industry appears to be increasingly exploring M&A options as ... Read the full article

Florida Southern Insurance joins the Patriot platform

21st April 2020

Patriot Growth Insurance Services, LLC has announced the addition of Florida Southern Insurance, LLC (FSI) to the Patriot platform, significantly expanding Patriot's existing property and casualty (P/C) insurance capabilities. FSI is a Florida-based full-service independent agency that provides a range of P/C insurance solutions, including auto, homeowners, business, flood and boat ... Read the full article

Cooper Gay confirms acquisition of Meteo Protect brand & tech

20th April 2020

Cooper Gay France, the European brokerage and wholesale managing general agency (MGA), has acquired the brand and technology of parametric and weather index insurance specialist and Lloyd's of London coverholder, Meteo Protect. The agreement provides Cooper Gay, which is part of the BGC Partners broking group, with stronger capabilities in the ... Read the full article

PartnerRe expects long-term commitment from Covéa, says CEO Clarke

17th April 2020

Emmanuel Clarke, Chief Executive Officer (CEO) of Bermudian reinsurer PartnerRe, has said that the recently announced acquisition by Covéa is “a very good strategic fit” for the company. Speaking in an interview with Reinsurance News, Clarke explained that PartnerRe views Covéa as “a long-term committed owner” with a long-term strategic interest ... Read the full article

COVID-19 to deter M&A activity in 2020: Conning

17th April 2020

With mergers and acquisitions (M&A) in the P&C market already slowing through 2019, the COVID-19 pandemic is likely to deter further activity through 2020, according to analysts at Conning. Conning noted that M&A activity involving acquisitions of property and casualty insurers last year was down approximately 6% compared to 2019. And with ... Read the full article

Howden adds Greek broker MATRIX to group

16th April 2020

Howden Broking Group has announced the addition of MATRIX Insurance and Reinsurance Brokers to the group. MATRIX was founded in 2003 and became a broker at Lloyd’s in 2012. It is the leading re/insurance broker in large Corporate and Industrial Risks in Greece and Cyprus. This announcement follows a strategic partnership between ... Read the full article

R&Q to acquire ICI Insurance Company

16th April 2020

Non-life insurance, reinsurance legacy and run-off acquisition specialist Randall & Quilter Investment is set to acquire the entire issued share capital of ICI Insurance Company. ICIICL was incorporated in the Cayman Islands in 2003 and licensed as a Class B (i) Insurer. The residual liabilities of ICIICL comprise primarily of US Workers ... Read the full article

Prudential Financial to sell Korean life unit for $1.9bn

16th April 2020

US insurance and investment firm Prudential Financial has announced that it plans to sell its Korean life insurance business to financial services provider KB Financial Group (KB). Under the terms of its agreement, Prudential Financial will sell 100% of The Prudential Life Insurance Company of Korea for a cash consideration of ... Read the full article

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