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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.

Aviva agrees to sell £1.6bn majority stake in Singapore business

14th September 2020

UK insurer Aviva has agreed to sell a majority stake in its Singapore business for £1.6 billion to a consortium led by insurtech Singlife. In Singapore, the new business will be initially branded as Aviva Singlife. The £1.6 billion Aviva will recieve includes £1.2 billion in cash and marketable securities, £143 million in ... Read the full article

Continental Re acquires 100% ownership of Botswana subsidiary

14th September 2020

Following its recent acquisition of a minority 40% stake in Continental Reinsurance Ltd (Botswana), Continental Reinsurance Plc now holds 100% of the issued ordinary share capital in the subsidiary. Continental Re says the acquisition entrenches its stature as a strong pan-African reinsurance brand and bolsters its commitment to delivering value to ... Read the full article

Third Point Re reaches agreement with Sirius shareholders

11th September 2020

Shareholders of Sirius International Insurance Group have agreed to remain as investors in the company following the completion of its merger with Bermuda-based reinsurer Third Point Reinsurance. First announced last month, the merger will see Sirius and Third Point Re combine into an entity called SiriusPoint Ltd, in a transaction ... Read the full article

Aston Lark acquires Lloyd’s broker Brunel Professions

11th September 2020

Chartered insurance broker Aston Lark has announced the acquisition of Lloyd’s broker Brunel Professions. Established in 2005, Brunel Professions specialises in PII, D&O and Cyber Insurance. The company also provides an in-house specialist claims handling and risk management service. Commenting on the acquisition, Peter Blanc, Aston Lark Group CEO, said, “I’m delighted to ... Read the full article

Empower in $3.3bn acquisition of MassMutual’s retirement plan business

9th September 2020

Empower Retirement is set to acquire the retirement plan business of mutual life insurer MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business will be supported by $1 billion of required capital when combined with Empower’s existing US business. Through ... Read the full article

Cohen & Company acquisition vehicle completes $230mn IPO

9th September 2020

Fixed income financial services specialist Cohen & Company has announced that INSU Acquisition Corp. II has completed its initial public offering (IPO), raising $230 million in the process. First announced back in July, INSU Acquisition Corp. II is a blank-check company sponsored by Cohen & Company, formed for the purpose ... Read the full article

Arch Capital eyeing $500m acquisition of Watford Holdings: reports

9th September 2020

A consortium led by Bermuda-based re/insurer Arch Capital Group has put forward a $500 million offer to buy Watford Holdings, according to reports from Reuters. After pre-warning of sizeable investment losses as a result of COVID-19-induced financial market volatility, Watford this year announced a first quarter loss of almost $267 million. As ... Read the full article

Chedid Capital takes over Ascoma broking operations in Africa

9th September 2020

Chedid Capital, an insurance and financial services provider that operates across the GCC and Middle east North Africa (MENA) regions, has announced that it plans to acquire the African business of international insurance broker, Ascoma Group. The company has come to an agreement with Ascoma’s owner, the Husson family, to transfer ... Read the full article

B.P. Marsh investments half in H1 off COVID-19 disruption

8th September 2020

B.P. Marsh, a specialist venture capital provider to early stage financial services businesses, completed 22 new investments in the first half of 2020, a significant drop from the 49 completed in the prior year period. The company attributes this drop to the challenges posed by COVID-19 but says it remains well ... Read the full article

CoreLogic sets record date for shareholder meeting after pressure from Senator & Cannae

7th September 2020

Property information and analytics provider CoreLogic has set September 18th as the record date for its special meeting of stockholders to be held, following pressure from investors Senator Investment Group LP and Cannae Holdings Inc. The meeting, set for November 17th, will consider and vote on the replacement of up to ... Read the full article

Fusion expands partnership with AGCS in Asia

7th September 2020

Fusion Specialty Asia Limited have extended their partnership with Allianz Global Corporate & Specialty to provide a platform for specialist Warranty & Indemnity insurance deals across the continent. As part of the the partnership Fusion and AGCS will offer W&I solutions and local underwriting and claims capabilities. In Hong Kong, Fusion acts ... Read the full article

Sompo International to acquire Diversified Crop Insurance Services

4th September 2020

Bermuda-based specialty property and casualty re/insurance Sompo International is set to acquire Diversified Crop Insurance Services, a subsidiary of CGB Enterprises. Diversified will join the re/insurer's AgriSompo platform and will create one of the largest crop insurance providers in North America. The acquisition provides Sompo with additional capabilities in North America in ... Read the full article

Brown & Brown acquires VAS Group

3rd September 2020

Insurance brokerage Brown & Brown, Inc. has announced that it has entered into an agreement to acquire VAS Inc. and its affiliated companies. VAS is made up of Vehicle Administrative Services, LP, SafeRide Motor Club, Inc. and other related affiliates, and is owned by Bill Breindel. The transaction is expected to be ... Read the full article

Senator & Cannae request meeting of CoreLogic shareholders

2nd September 2020

Senator Investment Group LP and Cannae Holdings Inc. have delivered written consents to call a special meeting of shareholders to consider replacing a majority of the board members of property information and analytics provider CoreLogic. The move comes after CoreLogic’s board unanimously rejected an offer from Senator and Cannae to ... Read the full article

Genworth & Oceanwide confirm September merger date

2nd September 2020

Mortgage insurer Genworth Financial and China Oceanwide Holdings Group have confirmed that their long-delayed merger agreement is still set to go ahead this month, following approval of Oceanwide’s funding plans. Genworth said that it was satisfied with the funding plans for the $2.7 billion deal, and therefore does not intend to ... Read the full article

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