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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.

SCOR seeks prosecution of Covéa & Thierry Derez

29th January 2019

French reinsurance giant SCOR has announced that it plans to initiate criminal actions against Covéa and its Chief Executive Officer (CEO) Thierry Derez following the rejection of an €8.2 billion takeover bid in August 2018. The acquisition offer from Covéa, which is currently SCOR’s largest shareholder, was labelled as “hostile ... Read the full article

Covéa scraps plans to pursue SCOR deal

29th January 2019

French insurance group Covéa has announced that it has abandoned its plans to pursue an acquisition deal targeting reinsurance giant SCOR. “Covéa takes note of SCOR’s refusal to enter into any discussions in relation to Covéa’s proposed friendly transaction offer addressed on 24 August 2018,” the company said in a statement. “The ... Read the full article

Ryan Specialty acquires assets, operations of Boston Insurance Specialists

25th January 2019

Chicago-based Ryan Specialty Group has purchased the assets and operations of Boston Insurance Specialists (BIS), an independent wholesale insurance brokerage, for an undisclosed fee. BIS’ team will become part of the group’s wholesale brokerage unit, R-T Specialty, in an effort to enhance its presence in New England. A family owned business started ... Read the full article

Protective to reinsure Great-West Life’s individual life & annuity business

24th January 2019

Subsidiaries of Protective Life Corporation (Protective) are set to acquire, via reinsurance, substantially all of the individual life insurance and annuity business of Great-West Life & Annuity Insurance Company (GWL&A). The agreement sees Protective subsidiaries, Protective Life Insurance Company, and Protective Life & Annuity Insurance Company, acquire the business through reinsurance, ... Read the full article

Marsh & McLennan expands Florida presence with Bouchard acquisition

23rd January 2019

Marsh & McLennan Agency LLC, a subsidiary of global insurance and reinsurance broker Marsh, has announced that it is to acquire Florida domiciled full-service agency, Bouchard Insurance. Terms of the transaction were not disclosed, but it's been reported that the deal is expected to close later this month. Bouchard Insurance has dedicated ... Read the full article

Incoming Tokio Marine CEO eyes increased overseas M&A activity

22nd January 2019

The newly promoted, incoming Chief Executive Officer of Tokio Marine Holdings has indicated that he intends to further diversify the company’s geographic footprint via oversees mergers and acquisitions (M&A), according to reports by Reuters. Japanese re/insurers, of which Tokio Marine is one of the most acquisitive, have become increasingly reliant on ... Read the full article

DARAG acquires Italian non-life portfolio from DONAU

22nd January 2019

Legacy acquirer DARAG Group Limited has announced an agreement to acquire a portfolio of Italian non-life business from DONAU Versicherung AG, subject to regulatory approval. The portfolio consists primarily of motor third party liability business, and the transaction also comprises a going concern transfer from DONAU into DARAG Italia S.p.A., the firm's ... Read the full article

Arthur J. Gallagher acquires U.S MGA Interstate Insurance Underwriters

21st January 2019

Global insurance brokerage Arthur J. Gallagher & Co. has acquired Interstate Insurance Underwriters, a Louisiana-based managing general agency (MGA), for an undisclosed fee. This deal follows Gallagher's announcement on January 7 that it had signed a definitive agreement to acquire specialist UK insurance broker Stackhouse Poland. "Interstate Insurance Underwriters is a ... Read the full article

Maiden enters reinsurance deal with Allianz amid auto group sale

18th January 2019

Bermuda-based re/insurer Maiden Holdings has entered into a three-year quota share reinsurance agreement with Allianz as part of the sale of its European automotive group, AVS Automotive VersicherungsService GmbH. Maiden said that the sale of AVS and its related European subsidiaries to Allianz Partners represented another step in its strategic review. Allianz ... Read the full article

Travelers partners with ASQ Underwriting on U.S transactional risk

16th January 2019

The Travelers companies, Inc. has partnered with managing general underwriter (MGU) ASQ Underwriting to offer transactional risk insurance in the U.S. Travelers explained that the move would enable it to meet the growing demand for M&A risk mitigation tools, which allow strategic and private equity investors to reduce their deal risk ... Read the full article

Greenlight Re to make second investment in tech-driven MGU AccuRisk

15th January 2019

Cayman Islands-based specialist property and casualty reinsurer Greenlight Capital Re has announced plans to invest in AccuRisk Solutions, a managing general underwriter (MGU) focused on employee and health insurance benefits. It's believed this investment will facilitate AccusRisk’s planned expansion via a series of strategic acquisitions in North America. Having first invested in ... Read the full article

AmWINS to acquire Florida’s The Flood Insurance Agency

14th January 2019

Global specialty insurance provider, AmWINS Group, Inc., has agreed a deal in principle to acquire Florida-based managing general agency (MGA), The Flood Insurance Agency. The Flood Insurance Agency specialises in private market flood insurance, providing access to an alternative to the National Flood Insurance Program (NFIP). Operating as a Program Administrator for ... Read the full article

Premia Holdings acquires Public Service Insurance Company out of rehabilitation

11th January 2019

Bermuda-based property & casualty re/insurance run-off group Premia Holdings has acquired Public Service Insurance Company (PSIC) and its subsidiary Western Select Insurance Company (WSIC) after the two businesses were placed into rehabilitation by the state of Illinois in 2017. In what the company calls a groundbreaking transaction, Premia has acquired certain ... Read the full article

Chicago-based broker Hub International acquires The Rubin Group

10th January 2019

Chicago-headquartered global insurance brokerage Hub International Limited has announced the acquisition of New York-based insurance and risk management firm The Rubin Group for an undisclosed fee. The Rubin group specialises in commercial and personal insurance, providing a portfolio of business and industry-specific insurance solutions and risk mitigation strategies in industries such ... Read the full article

Marsh & McLennan issues $5bn senior debt to fund JLT acquisition

9th January 2019

Broking and advisory giant Marsh & McLennan Companies, Inc. (MMC) has outlined plans to issue $5 billion of senior debt to fund its previously announced $5.6 billion acquisition of Jardine Lloyd Thompson Group (JLT). The offering consists of six tranches of senior notes with maturities of up to 30 years. MMC stated ... Read the full article

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