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.
UIM and Shield Indemnity merge to create new P&C holding company
12th January 2022
Universal Shield Insurance Group, Inc. has now launched, a new property and casualty (P&C) holding company formed following the merger of UIM Holding Company and its subsidiary, Universal Fire & Casualty Insurance Company, with Shield Indemnity, Inc. Universal Fire & Casualty Insurance Company is an admitted insurer and insurtech with a ... Read the full article
Swiss Re offloads remaining Phoenix stake for £440m
12th January 2022
Reinsurance giant Swiss Re has exited its shareholding in Phoenix Group Holdings by selling its remaining 66,199,917 ordinary shares in the savings and retirement company for approximately £440 million. Swiss Re sold the shares at a price of 664 pence per ordinary share, or 3.1% below yesterday's close, which valued the ... Read the full article
B.P. Marsh & Partners to sell Summa shares for €9.7mn
12th January 2022
Specialist early-stage investor B.P. Marsh & Partners has announced the sale of its entire 77.25% shareholding in Summa Insurance Brokerage (Summa), the Madrid based Spanish insurance broker consolidator, to Acrisure España, the Spanish subsidiary of the global financial services business. Upon completion, the group will receive €9,715,484 (£8,113,817), after all associated ... Read the full article
Helios secures syndicate capacity of £3.6m through latest acquisitions
11th January 2022
Helios, an investment vehicle that acquires and consolidates underwriting capacity at the Lloyd’s re/insurance marketplace, has acquired a further three LLVs for a consideration of £2.4 million. These acquisitions follow Helios' acquisition of three LLVs back in December, and see the firm acquire syndicate capacity of £3.6 million. Additionally, Helios says ... Read the full article
Acrisure grows tech platforms with Appalachian takeover
7th January 2022
Fintech firm Acrisure has announced the acquisition of Appalachian Underwriters, a U.S. Managing General Agency (MGA), and U.S. Administrator Claims, a Third-Party Administrator (TPA), in addition to affiliated entities. With a model that encompasses both an MGA and wholesale distribution, Appalachian places more than $400 million gross written premium (GWP) into ... Read the full article
Optio Group acquires Brockwell Capital
7th January 2022
Specialty MGA Optio Group has acquired Brockwell Capital, a Warranty & Indemnity MGA, for an undisclosed sum. The acquisition will boost Optio's expertise in the fields of tax liability and contingent liability and financial lines. Brockwell writes c. $40m (c.£30m) of GWP and is expected to continue its strong growth. All current Brockwell ... Read the full article
Swiss Re Corporate Solutions acquires TMS Re
7th January 2022
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has acquired TMS Re, an ESL managing general underwriter. The transaction includes TMS Re's operations, its team of experts and business portfolio, including new and renewal business. Through this arrangement, Swiss Re Corporate Solutions broadens its ESL capabilities in the ... Read the full article
Monument Re completes Athora Ireland acquisition
7th January 2022
Life re/insurance holding company Monument Re’s Irish subsidiary, Monument Life Insurance, has completed the acquisition of a closed-block portfolio of variable annuities from Athora Ireland, a wholly-owned subsidiary of Athora Holding. The acquisition was first announced in March last year, with the portfolio has been in run-off since 2017. Financial ... Read the full article
Corvus acquires cyber platform Tarian from Beat
6th January 2022
Beat Capital Partners, a long duration investor specialising in the insurance industry, has announced the sale of Tarian Underwriting to Corvus Insurance, a provider of smart commercial insurance products powered by AI-driven risk data. Established in 2016, Tarian is cyber underwriting platform that provides solutions to the cyber risk environment and ... Read the full article
Fortitude Re set for growth with launch of multi-line reinsurer & U.S. platform
6th January 2022
Fortitude Re has announced the formation of a new Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer, as its subsidiary obtains Reciprocal Jurisdiction Reinsurer status. Established in 2018 by international insurer AIG and global alternative asset manager, The Carlyle Group, Fortitude Re was originally set up to ... Read the full article
Everspan Group acquires three insurance carriers
6th January 2022
Ambac Financial Group has announced that its subsidiary, Everspan Insurance Company has acquired 21st Century Indemnity Insurance Company, 21st Century Pacific Insurance Company and 21st Century Auto Insurance Company of New Jersey. The acquisition is expected to broaden and enhance Everspan Group’s distribution capabilities and provides greater optionality for its program ... Read the full article
Global M&A activity to remain strong in 2022 after a record year: WTW
5th January 2022
Re/insurance broker Willis Towers Watson (WTW) expects global merger and acquisition (M&A) activity to remain strong in 2022 after a record number of deals completed with a value of more than $100 million last year. The latest research from WTW's Quarterly Deal Performance Monitor, run in partnership with the M&A Research ... Read the full article
HDI Intl. sells Russian life insurance unit to Russian Sovcombank
5th January 2022
Talanx subsidiary, HDI International AG, is selling its Russian life insurance unit OOO Strakhovaya Kompaniya CiV Life (CiV Life) to Russian Sovcombank. With this sale, the Talanx Group is streamlining the portfolio of its Retail International Division in Central and Eastern Europe and underscoring its focus on profitable growth in its ... Read the full article
Fortitude Re finalises acquisition of AIG’s legacy insurance businesses
5th January 2022
Fortitude Group Holdings, LLC, the parent of Bermuda-based reinsurer Fortitude Re, has now completed its takeover of AIG's legacy insurance businesses following the acquisition of Fortitude Life & Annuity Solutions, Inc. (FLAS) and Fortitude P&C Solutions, Inc. (FPCS). It was announced in late November 2019 that the Carlyle Group and ... Read the full article
Weston Property & Casualty Insurance Company launches
5th January 2022
In a reflection of the evolution of the Weston group of companies, Weston Insurance Company (WIC) and Weston Specialty Insurance Company (WSIC) have merged to form Weston Property & Casualty Insurance Company (WPCIC). Based in Florida, WPCIC has a specialist focus in providing insurance against protection for losses from natural catastrophes ... Read the full article