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.
HDI Global acquires Indiana Lumbermens Insurance
6th December 2023
HDI Global Insurance Company has strengthened its position in the U.S. market with the acquisition of 100% of Indiana Lumbermens Insurance Company (ILIC), a subsidiary of Pennsylvania Lumbermens Mutual Insurance Company (PLM), for an undisclosed purchase price. HDI has purchased all of the shares of ILIC from PLM. The transaction closed ... Read the full article
Arthur J. Gallagher & Co. acquires P&C agency Hunt Insurance Group
6th December 2023
Re/insurance broker Arthur J. Gallagher & Co. has acquired retail property/casualty agency Hunt Insurance Group, terms of the transaction were not disclosed. The Illinois-based agency opened in 1957 by Raymond Hunt. It specialises in labour unions and their associated benefit funds across the Midwest. According to the announcement, Larry Hunt (Presicent), Matt ... Read the full article
Aerial imagery solutions provider Nearmap to acquire Betterview
6th December 2023
Location intelligence and aerial imagery solutions provider, Nearmap has reached an agreement to acquire Betterview, the property intelligence and risk management platform, which the former says reinforces the its position as a leading source of imagery intelligence, data and solutions. The completion of the acquisition is subject to customary closing conditions, ... Read the full article
Core Specialty completes acquisition to form Medical Stop-Loss Division
4th December 2023
Core Specialty Insurance Holdings, Inc. and its subsidiaries has completed its acquisition of the MGU/Stop-Loss business of American National Group (ANAT). The acquisition was previously announced in June earlier this year. As a result, this acquisition marks Core Specialty’s 14th Specialty Business Unit. It has also been confirmed that Jim Stelling has ... Read the full article
Continuum strengthens senior team with two new specialist hires
30th November 2023
M&A advisory firm, Continuum Advisory Partners, has announced the appointment of two new Senior Managing Directors, Duncan Buck and Andrew Gould. A financial services banker with over 25 years’ M&A experience, Buck is joining Continuum from Fenchurch Advisory Partners. In his new role, to begin in early 2024, he will primarily focus ... Read the full article
KKR set to acquire remaining 37% of Global Atlantic for $2.7bn
29th November 2023
KKR & Co. Inc. has announced a definitive agreement under which it will acquire the remaining 37% stake in the insurance company Global Atlantic, increasing its ownership to 100%. KKR will fund the transaction from its balance sheet, which had $23 billion of cash and investments as of September 30, 2023. ... Read the full article
Insurwave acquires specialty insurance AI tech from EY
28th November 2023
London-based insurtech platform Insurwave has acquired AI technology designed for the specialty insurance market from EY. According to Insurwave, the AI technology has been integrated into its existing platform, which focuses on providing insurers, risk managers, and brokers with a real-time view of data including live asset tracking and aggregate exposure ... Read the full article
Aviva to acquire Canadian MGA Optiom
27th November 2023
Aviva has announced the acquisition of Optiom O2 Holdings Inc from Novacap and other minority shareholders for a consideration of c.£100m (c.CAD$170m). Optiom, which operates as a managing general agent (MGA), provides vehicle replacement insurance in Canada. According to Aviva, the acquisition will help expand its capital-light businesses, which make up over ... Read the full article
Talanx completes acquisition of Liberty Seguros in Brazil
24th November 2023
Germany’s Talanx Group, the parent of global reinsurer Hannover Re, has completed the process of acquiring the business of Liberty Seguros with retail customers and small to mid-sized enterprises in Brazil, in line with the company’s announcement earlier this year. The acquisition was done through HDI International, a subsidiary of ... Read the full article
Arthur J. Gallagher announces acquisition of Hughes Insurance Agency, Inc.
23rd November 2023
Global insurance brokerage, Arthur J. Gallagher & Co., has acquired Queensbury, New York-based Hughes Insurance Agency, Inc. Hughes Insurance Agency is a provider of comprehensive commercial, personal and life & health insurance services for independent businesses and individuals across the Northeastern United States. At this time, terms of the transaction ... Read the full article
VIG increases its stake in Hungarian business from 55% to 90%
21st November 2023
Vienna Insurance Group (VIG) has signed a purchase agreement to acquire 35% stake of the Hungarian holding company VIG Magyarország Befektetesi Zrt., which is currently held by the Hungarian state holding company Corvinus. Once the transaction has been completed, VIG’s stake in the Holding will increase from 55 to 90%, with ... Read the full article
AI to reignite global M&A market in 2024, says WTW
21st November 2023
Artificial intelligence (AI) is seen as a "potential boon for improving M&A processes and value creation," according to Jana Mercereau, Head of Corporate M&A Consulting, Great Britain at WTW. As per WTW, historic levels of inflation, rising interest rates, and geopolitical instability contributed to a "slump in deal activity that bottomed ... Read the full article
Arthur J. Gallagher announces acquisition of Coverys Insurance Services
17th November 2023
Global insurance brokerage, Arthur J. Gallagher & Co. has acquired certain assets of the retail agency business of East Lansing, Michigan-based Coverys Insurance Services. Terms of the transaction were not disclosed. Full-service insurance broker, Coverys Insurance Services specialises in medical malpractice and professional liability for healthcare clients throughout Michigan. It has been ... Read the full article
Brookfield Reinsurance completes acquisition of Argo Group
16th November 2023
Brookfield Reinsurance, a financial services business operator providing capital-based solutions to the insurance industry, has completed the acquisition of Argo Group International Holdings, Ltd. in an all-cash transaction valued at approximately $1.1 billion. Under the terms of the transaction, Brookfield Reinsurance acquired all issued and outstanding common shares of the Bermuda-based ... Read the full article
Arthur J. Gallagher & Co. acquires Edgar Insurance Brokers
15th November 2023
Insurance and reinsurance broker Arthur J. Gallagher & Co. is to acquire Cobram, Victoria-based Edgar Insurance Brokers, a provider of commercial insurance products and services with a focus on rural and farm, hospitality, transport and trade clients. According to the announcement, Director Shannon Edgar and his team will remain in their ... Read the full article
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