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.
R&Q continues to evaluate options for its Legacy Insurance business
4th March 2024
Global non-life specialty insurer R&Q Insurance Holdings Ltd (R&Q) has confirmed it is still exploring different strategic options for its Legacy Insurance business. However, it anticipates finalising the sale of its Accredited business by the end of the second quarter of 2024. In April 2023, R&Q's Board announced plans to explore ... Read the full article
Aviva to acquire Probitas for £242m
4th March 2024
UK-domiciled insurer Aviva Plc will acquire 100% of Probitas Holdings (Bermuda) Limited, the ultimate holding company of the Probitas Group, for a minimum fixed consideration of £242 million, marking the firm's entry into the Lloyd's market. The transaction includes the acquisition of Probitas’s fully integrated Lloyd’s platform, encompassing its Corporate Member, ... Read the full article
Howden acquires Intersure Group to expand presence in Irish market
29th February 2024
Howden has announced the acquisition of Intersure Group Limited, which is set to further strengthen its ability to service the Irish insurance market. Established in 1999 by Noeleen Butterly, Intersure is an owner-managed business based in Drogheda, Co. Louth. The firm reportedly provides clients with technical insurance advice across commercial, business, ... Read the full article
Direct Line rejects “highly opportunistic” aquisition offer from Ageas
29th February 2024
UK insurer Direct Line Group has rejected Ageas' recently announced offer for the company, labelling it "unattractive" and "highly opportunistic". The firm's Board has now confirmed that on 19 January 2024, it received a highly conditional, non-binding indicative proposal from Ageas to acquire the entire issued and to be issued ... Read the full article
Ageas in preliminary stages of considering possible offer for Direct Line
28th February 2024
Brussels headquartered insurer Ageas has confirmed that it is in the initial stages of considering a possible offer to acquire the entire issued and to be issued share capital of UK insurer Direct Line Insurance Group Plc. According to Ageas, the combination of its UK business with Direct Line's will be ... Read the full article
Barbuss acquires marine surveyor KVDS
28th February 2024
Barbuss a provider of specialised financial, claims services and specialised coverage for the risk industry, has announced that it has acquired 100% of the shares of KVDS, an independent marine surveyor based in Antwerp, Belgium. From what we understand, the acquisition welcomes a number of talented professionals from KVDS, who will ... Read the full article
AM Best affirms unchanged ratings following UnipolSai merger announcement
26th February 2024
UnipolSai, an Italian financial services company, recently announced that its Board of Directors has approved a plan aimed at streamlining the company's structure. This plan involves merging UnipolSai with three other companies—Unipol Finance S.r.l., UnipolPart I S.p.A., and Unipol Investment S.p.A.—into the main parent company, Unipol Gruppo. The merger is expected ... Read the full article
2023 insurance M&A activity at lowest level for a decade: Clyde & Co
26th February 2024
Clyde & Co’s Insurance Growth Report has revealed that mergers and acquisitions (M&A) activity worldwide in the insurance sector was down in 2023, reaching the lowest level for a decade. According to the firm, there were 346 completed M&As worldwide in the insurance sector in 2023, down from 449 in the ... Read the full article
Aon and NFP acquisition agreement clears antitrust waiting period
21st February 2024
Aon's previously announced $13.4 billion acquisition agreement with middle-market P&C broker NFP continues to gain traction, with the waiting period having now expired under the Hart-Scott-Rodino (HRS) Antitrust Improvements Act of 1976. For those unaware, the HSR Act requires firms involved in mergers and acquisitions above a certain value to ... Read the full article
Marsh McLennan Agency to acquire Querbes & Nelson and Louisiana Companies
21st February 2024
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has signed agreements to acquire two Louisiana-based middle-market agencies, Querbes & Nelson (Q&N) and Louisiana Companies. According to the firm, upon closing of the transactions, Louisiana Companies and Q&N’s employees, including George Nelson, Managing Director and Co-owner of Louisiana Companies and Q&N; Mike ... Read the full article
Truist to strengthen balance sheet with Truist Insurance Holdings sale
20th February 2024
Truist Financial Corporation has announced it has agreed to sell its remaining stake in Truist Insurance Holdings (TIH), to an investor group led by private equity firms Stone Point Capital and Clayton, Dubilier & Rice (CD&R). This transaction is expected to strengthen Truist's balance sheet and enhance the company’s strategic flexibility ... Read the full article
Howden agrees to acquire captive manager specialist ARM
15th February 2024
Global re/insurance broker Howden has entered the captive management market as it has agreed to acquire ARM Group Holdings Limited (ARM), the parent of Alternative Risk Management. ARM is one of the largest independent insurance managers in Europe and a specialist in the formation and management of insurance captives. According to the ... Read the full article
Hagerty agrees to acquire Everspan’s CNIC
15th February 2024
Hagerty Insurance Holdings, Inc. (Holdings), a subsidiary of Hagerty, has agreed to acquire Everspan’s Colorado-domiciled insurance company, Consolidated National Insurance Company (CNIC). Holdings entered into a stock purchase agreement with Everspan and has agreed to pay approximately $18.4 million to acquire all of the issued and outstanding capital stock of CNIC. The ... Read the full article
Marco Re launches after merger of Guernsey subsidiaries
9th February 2024
European P&C insurance run-off group, Marco Capital Holdings has announced the launch of Marco Re as the new brand of its recently merged Guernsey subsidiaries Humboldt Re and Kelvin Re. Marco Capital announced the acquisition of Humboldt Re in October 2021 and Kelvin Re’s in July 2023. Both reinsurance ... Read the full article
Southlake Specialty to acquire Nevada General Insurance Company
9th February 2024
Southlake Specialty, part of Southlake Financial Holdings, a Texas-based group of fronting carriers, has agreed to acquire Nevada General Insurance Company from Western National Mutual Insurance Company. Nevada General Insurance Company is a Property and Casualty insurer authorised in numerous states throughout the Western US. This acquisition, pending regulatory approval, will allow ... Read the full article
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