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.
Marsh McLennan Agency announces acquisition of Perkins Insurance Agencies
31st May 2024
Marsh McLennan Agency, a subsidiary of Marsh, has acquired Perkins Insurance Agencies, an Abilene, Texas-based independent agency. Established in 1977, Perkins provides commercial property and casualty (P&C) and personal lines coverage to West Texas-based organisations, non-profits, and families, with specialised expertise in the oil and gas, trucking, farm and ranch, and ... Read the full article
Miller acquires Madrid-based commercial re/insurance broker Bruzon
30th May 2024
Independent specialist insurance and reinsurance broker, Miller, has acquired Madrid-based commercial re/insurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and Bruzon Services S.A. (Bruzon), subject to regulatory approval, with the deal expected to complete later this year. This is Miller’s second Continental European acquisition transaction as it continues the expansion ... Read the full article
AUB Group to acquire 70% equity stake in Pacific Indemnity
24th May 2024
AUB Group, the Australian equity-backed insurance broker network, has entered into an agreement to acquire a 70% equity stake in Pacific Indemnity, a specialty underwriting agency based in Australia. According to the announcement, the investment is "highly complementary" as AUB continues to build a portfolio of agencies. It has been confirmed that ... Read the full article
SRG acquired by Warburg Pincus and Temasek to fuel growth
21st May 2024
Insurance industry intermediary Specialist Risk Group (SRG) has announced its acquisition by Warburg Pincus and Temasek. This partnership with these investors aims to support SRG’s growth plans and strategy, with SRG’s management team retaining a significant stake in the company. SRG was founded in January 2020 under the leadership of Group CEO ... Read the full article
Howden acquires LatAm parametric insurance specialist MiCRO
20th May 2024
Howden has acquired MiCRO, a microinsurance specialist that designs and implements parametric insurance coverage for underserved populations in Latin America against natural catastrophes. MiCRO was founded by Mercy Corps and Fonkoze in the aftermath of the 2010 Haiti Earthquake and has since grown to operate in Guatemala, El Salvador, Colombia and ... Read the full article
Ardonagh’s MDS Brazil to acquire D’Or Consultoria for £123m
17th May 2024
MDS Brazil, a subsidiary of Ardonagh-owned MDS Group, has revealed it intends to acquire D'Or Consultoria, a health, dental, life insurance, and pensions broker from Rede D’Or Sao Luiz. S.A. (Rede D’Or). The transaction, which has a consideration of R$800 million (£123 million), is subject to approval by the Administrative Council ... Read the full article
AIG to sell Corebridge common stock to Nippon Life Insurance Company
16th May 2024
Global insurer AIG has reached an agreement to sell approximately 120 million shares of its Corebridge common stock to Nippon Life Insurance Company. The selling price of the stock has been decided at $31.47 per share, for an aggregate purchase price of $3.8 billion. The shares represent 20% of the outstanding ... Read the full article
MIB reaches agreement to acquire underwriting services provider RiskRighter
16th May 2024
MIB has reached an agreement with Crump Life Insurance Services, LLC to acquire RiskRighter, LLC, a provider of underwriting services to insurance carriers, distribution agencies and other businesses across the life insurance sector. Andrea Caruso, MIB's Chief Operating Officer, commented: "MIB is excited to add RiskRighter's capabilities to our Medical Data Solutions portfolio. ... Read the full article
American Coastal completes run-off of personal lines book with sale of Interboro to Forza
10th May 2024
American Coastal Insurance Corporation has announced the sale of its New York domiciled insurer, Interboro Insurance Company, to Forza Insurance Holdings, LLC, a move which completes the run-off of American Coastal's personal lines portfolio. The definitive agreement sees Forza acquire 100% of the issued and outstanding stock of Interboro and enables ... Read the full article
Ardonagh to acquire PSC Insurance in A$2.3bn transaction
8th May 2024
The Ardonagh Group has entered into a Scheme Implementation Deed (SID) to acquire all the issued ordinary shares in PSC Insurance Group Limited. The Scheme Cash Consideration represents an implied equity value of A$2.256 billion and enterprise value of A$2.429 billion. Ardonagh explained that it intends to merge PSC’s Australia and New ... Read the full article
MEDVIDA Partners acquires VidaCaixa’s life insurance business
7th May 2024
MEDVIDA Partners, a Spanish life insurance company specialised in the acquisition, integration and optimization of life insurance businesses, has completed the acquisition of Sa Nostra Vida from VidaCaixa. Through this transaction, which was announced back in July 2023, MEDVIDA has acquired Sa Nostra Vida's run-off life insurance portfolio, which consists ... Read the full article
Truist completes sale of remaining stake in insurance brokerage TIH
7th May 2024
Truist Financial Corporation has completed the sale of its remaining stake in Truist Insurance Holdings (TIH), the fifth largest insurance brokerage in the US, to an investor group led by private equity firms Stone Point Capital, Clayton, Dubilier & Rice, Mubadala Investment Company and other co-investors. If you recall, in February ... Read the full article
Brookfield Reinsurance completes AEL acquisition
3rd May 2024
Brookfield Reinsurance, a capital solutions business that provides insurance and reinsurance services to individuals and institutions, has completed the acquisition of American Equity Investment Life Holding Company (AEL). The deal, announced in July 2023, was completed in a cash and stock transaction valued at $56.50 per AEL share. Last year, Brookfield ... Read the full article
Marsh McLennan Agency acquires commercial lines brokerage, AC Risk Management
2nd May 2024
Marsh McLennan Agency, a subsidiary of Marsh, has acquired AC Risk Management (ACRM), an independent commercial lines brokerage based in Melville, New York. Established in 2012, ACRM essentially offers property & casualty insurance to businesses in the region, with a particular focus on the construction industry. According to the announcement, all ACRM ... Read the full article
Only 52% of last decade’s largest M&A transactions created long-term value: ACORD
2nd May 2024
As per ACORD's Carrier Mergers & Acquisitions study, only 52% of last decade's largest M&A transactions created long-term value. The firm's new study, set to be officially presented at ACORD Industry First on May 21st, screened nearly 15,000 transactions, focusing on those publicly disclosed valued at $1 billion or greater. The deals ... Read the full article
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