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.
Aviva in a much better position, deal for whole entity ‘nearly impossible’, says Deutsche Bank
9th October 2023
Analysts at Deutsche Bank have commented on last week's media speculation suggesting UK insurer Aviva is a potential acquisition target, stating that it views a deal for the entire firm has nearly impossible, and even a sale of parts of the business as unlikely. As we wrote last week, Aviva's ... Read the full article
Steadfast enters US insurance market with acquisition of ISU Group
9th October 2023
Steadfast Group has completed an agreement to acquire 100% of ISU Group, a privately owned independent insurance agency network in the US, for $55 million. The acquisition, which signals Steadfast's entry into the US market, will be funded from Steadfast’s existing corporate debt facilities and free cash flow, and is expected ... Read the full article
Aviva takeover talk unsurprising, but whole acquisition seems unlikely, say analysts
6th October 2023
As news of a potential takeover of large UK insurer Aviva emerged this morning, analysts suggest that while rumours are unsurprising, an acquisition of the whole Group seems unlikely given its position in the UK life sector. After The Times newspaper cited talk of a potential takeover of Aviva, citing Allianz, ... Read the full article
iprism acquires property MGA SK Underwriting
6th October 2023
Specialist commercial, property and high net worth Managing General Agent (MGA) iprism, has acquired property focused MGA, SK Underwriting Limited for an undisclosed fee. SK Underwriting was formed in 1999 and it is based in Kent. It offers a range of Commercial small and medium-sized enterprises (SMEs) products, principally focused on ... Read the full article
MGT Partners launches MGT Insurance with CM Select acquisition
5th October 2023
MGT Partners, a privately owned organisation backed by experienced insurance executives and investors, has acquired CM Select from Church Mutual, a leading insurer of religious organisations in the US. The completed acquisition marks the launch of MGT Insurance, the new name for CM Select. The new tech-enabled risk solutions platform will ... Read the full article
Arthur J. Gallagher announces acquisition of Altman Insurance Services
4th October 2023
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, has acquired Louisville, Kentucky-based WLA Insurance, LLC, dba Altman Insurance Services. Terms of the transaction were not disclosed. Altman Insurance Services provides employee benefits brokerage and consulting services to both large and small group businesses across ... Read the full article
Aon looks to expand capabilities in India with acquisition of Global Insurance Brokers
4th October 2023
Global insurance and reinsurance broker Aon is looking to enhance its risk capital capability offering in India with the acquisition of Global Insurance Brokers, a composite re/insurance brokerage offering services across 17 offices. Once the deal completes, which remains subject to regulatory approval, the Indian broker will transition to Aon's brand ... Read the full article
iA Financial acquiring Vericity in $170m transaction
4th October 2023
Vericity, Inc. has entered into a definitive merger agreement with iA American Holdings, Inc., a subsidiary of iA Financial Corporation, Inc., to be acquired in an all-cash transaction valued at approximately $170 million. Vericity is majority-owned by J.C. Flowers & Co., a private investment firm, who is selling its stake in ... Read the full article
Velocity acquires majority stake in MGA Insight Risk Technologies
2nd October 2023
Velocity HoldCo, LLC, and Insight Risk Technologies LLC have reached an agreement for Velocity to acquire a majority stake in Insight Risk, a one-stop loss prevention and risk transfer solution provider for the Builder's Risk market. The acquisition closed on September 18th as part of Velocity's strategic expansion and represents the ... Read the full article
BMS names Emmanuel Clarke as Chairman as Eurazeo investment completes
28th September 2023
French private equity firm Eurazeo has now completed its investment into global insurance and reinsurance broker BMS Group, which coincides with former PartnerRe Chief Executive Officer (CEO), Emmanuel Clarke, taking over as Chairman. It was announced in December 2022 that up to 34% of BMS' share capital was to be ... Read the full article
Hiscox to sell DirectAsia business to Ignite Thailand Holdings Limited
27th September 2023
International specialist insurer Hiscox has entered into an agreement to sell DirectAsia, its business operations in Singapore and Thailand predominantly providing motor insurance, to Ignite Thailand Holdings Limited, the parent of the Roojai group of companies. DirectAsia was founded in Singapore in 2010 and launched in Thailand in 2013. Hiscox describes ... Read the full article
James River agrees to sell IRWC renewal rights to Amynta Group
26th September 2023
James River Group Holdings has announced that certain of its subsidiaries have entered into an agreement to sell the renewal rights to their Individual Risk Workers’ Compensation (IRWC) business to Amynta Group. The transaction includes the full operations of the business, including underwriting, loss control and claims, and the transfer of ... Read the full article
Arthur J. Gallagher & Co. acquires Hartley Cylke Pacific Insurance Services
26th September 2023
Arthur J. Gallagher & Co. has acquired San Diego, California-based Hartley Cylke Pacific Insurance Services, Inc. Hartley Cylke Pacific Insurance is a retail insurance broker that specialises in transportation for clients throughout California and Arizona. According to Gallagher, Hartley Cylke Pacific Insurance's Michael Hartley (President), John Cylke (Vice President), James Hawes (Agent/Broker) and ... Read the full article
Aviva acquires AIG’s UK protection business for £460m
25th September 2023
Aviva has announced the acquisition of AIG Life Limited (AIG Life UK) from Corebridge Financial, Inc., a quoted subsidiary of AIG, for a consideration of £460 million. The transaction is subject to customary closing conditions including regulatory approvals, and is expected to close in the first half of 2024. AIG Life ... Read the full article
Arthur J. Gallagher & Co. acquires insurance broker Ace
22nd September 2023
Arthur J. Gallagher & Co. has acquired Ace Commercial Insurance Center (Ace), a specialist insurance broker serving the trucking industry primarily in Southern California. Terms of the transaction were not disclosed. According to the announcement, Jackie Hoang, President and CFO; Anhdy Nguyen, VP of Operation Underwriting; and the rest of their ... Read the full article
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