Reinsurance News
Reinsurance mergers and acquisitions news, covering details of M&A transactions in the works and completed, between insurance, reinsurance and related companies.
18th March 2021
The Global Mortgage Group of Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group to acquire Westpac Lenders Mortgage Insurance Limited (WLMI). WLMI is an Australian Prudential Regulation Authority (APRA) authorized captive lenders mortgage insurance (LMI) provider to Westpac. The business had shareholders’ equity of $AUD ... Read the full article
18th March 2021
Goldman Sachs backed insurance broker Aston Lark has announced its acquisition of North County Brokers. North County Brokers offers independent advice to businesses across a broad range of insurance and risk management services. Initially, the firm will be brought into the Aston Lark Group under Robertson Low as a temporary measure, as ... Read the full article
18th March 2021
Randall & Quilter Investment Holdings Ltd. (R&Q) has reached an agreement to raise its stake in Tradesman Program Managers, LLC, a New York-based Managing General Agent (MGA), from 35% to 40%. R&Q acquired its stake in Tradesman Program Managers in August of last year through the merger of its wholly ... Read the full article
17th March 2021
The pending acquisition of rival Willis Towers Watson (WTW) by its larger rival Aon continues to generate headlines, with recent reports in specialist antitrust publications suggesting concerns from the US government may have a reinsurance focus, as well as in other areas like benefits and large corporate clients. While concerns raised ... Read the full article
16th March 2021
A new report from Marsh shows that transactional risk insurance purchases reached a record high in the US and Canada over 2020 despite challenges due to the pandemic. After a dramatic downturn in the second quarter of 2020 due to the coronavirus pandemic, merger and acquisitions (M&A) deal volume soared to ... Read the full article
16th March 2021
Risk services firm Applied Underwriters has announced the acquisition of Florida Casualty Insurance Company (FCIC), formerly Ashmere Insurance Company. The newly re-branded FCIC is based in Fort Lauderdale and licensed in 41 states. Once approved, the acquisition will form part of Applied Underwriter’s strategy to expand in key US and international markets. "Enterprises ... Read the full article
16th March 2021
Legacy specialist Enstar Group Limited and Stone Point Capital LLC have now completed the sale of StarStone Underwriting Limited and its managed Lloyd's Syndicate, 1301, to recently launched speciality insurer and reinsurer, Inigo Limited. Now finalised, Enstar, Stone Point and Dowling Funds received $30 million of consideration from the sale in ... Read the full article
15th March 2021
Consulting and actuarial firm Milliman has acquired McHugh Consulting Resources, a provider of outsourced insurance compliance and regulatory services. The acquisition will further bolster Milliman's position as a life and health insurance compliance service provider. Milliman's compliance experts work with insurers to draft and develop contracts, complete rate filings, ensure compliance in ... Read the full article
15th March 2021
Risk analytics provider QOMPLX has entered into an agreement to acquire cyber-intelligence company, Sentar Inc. Sentar will continue to be led by President Darren Kraabel alongside other key management. Bridget McCaleb will continue in a formal capacity leading integration efforts for Sentar during the transition. Sentar and QOMPLX have already begun to ... Read the full article
11th March 2021
Risk analytics provider QOMPLX has revealed that it plans to develop a dynamic multi-peril modeling platform following its acquisition of insurance modelling and actuarial platform Tyche. The acquisition of Tyche was announced recently alongside news that QOMPLX has elected to go public via a merger with special purpose acquisition company, ... Read the full article
10th March 2021
US specialty insurance group Assurant has agreed to sell its prearranged funeral insurance and final expense business, Global Preneed, to CUNA Mutual Group, a broad financial services provider, for approximately $1.3 billion in cash. The Global Preneed sale is expected to generate $1.2 billion of net proceeds at closing, which is ... Read the full article
10th March 2021
ManhattanLife Assurance Company of America has bolstered its presence in the self-funded medical stop loss market through the acquisition of Western Skies MGU, a national wholesaler and Program Manager of self-funded medical stop-loss health plans. Western Skies MGU was established in 2019 and is headquartered in Las Vegas. The company has ... Read the full article
10th March 2021
Abacai Group, a new insurtech firm created by specialist private capital provider Sun Capital Partners and former Aviva CEO Mark Wilson, has acquired Dayinsure to bolster its existing insurance businesses. Founded in 2005, Dayinsure provides temporary motor insurance cover in the UK for car, van, motorhome and business drivers and has ... Read the full article
9th March 2021
Aon's pending acquisition of rival Willis Towers Watson (WTW) continues to generate significant chatter in investor and analyst circles, with sources increasingly confident a sale of reinsurance broker Willis Re will be the likely outcome, if remedies are needed to get the merger through. But divestitures are not seen as stopping ... Read the full article
8th March 2021
Accelerant Holdings has announced the acquisition of Commonwealth Insurance Company of America (CICA) from speciality insurer and reinsurer Brit, as well as plans to rename the business as Accelerant National Insurance Company (ANIC). The Accelerant companies form an underwriting group specialising in serving a carefully selected and managed network of members ... Read the full article
