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.
Allianz to sell 49% stake in CPIC Fund Management
16th October 2023
Global insurer Allianz has entered into definitive agreements over the sale of its 49% stake in CPIC Fund Management Co., Ltd. to Guotai Junan Securities Co., Ltd. The transaction is subject to the approval of the China Securities Regulatory Commission (CSRC), and other relevant authorities. The divestment is in line with Allianz's ... Read the full article
Munich Re and DWS approved for acquisition of biogas plant owner Weltec
13th October 2023
Munich Re alongside investment firm DWS have been approved by the European Commission Directorate-General for Competition to acquire biogas plants operator, Weltec Holding. The transaction relates primarily to the operation of biogas and biomethane plants and the trading of its outputs, including electricity, heat, and fertiliser in Germany. DWS is a global ... Read the full article
Allianz to acquire Generali’s Tua Assicurazioni for €280m
13th October 2023
Global insurer Allianz is set to increase its property and casualty (P&C) market share in Italy with the acquisition of Tua Assicurazioni from Generali for a cash consideration of €280 million. Previously part of Cattolica Assicurazioni, TUA Assicurazioni is an insurance subsidiary of the Group focused on P&C business in the ... Read the full article
MarshBerry acquires London-based M&A advisory firm IMAS
12th October 2023
MarshBerry, a financial advisory and consulting firm, has acquired IMAS Corporate Finance LLP (IMAS), a M&A advisory firm in the United Kingdom (UK) insurance and wealth segments. According to the announcement, this partnership expands MarshBerry’s global reach while continuing to offer unmatched local expertise in North America and Europe. With this acquisition, ... Read the full article
Brown & Brown completes acquisition of Kentro
10th October 2023
Insurance broker, Brown & Brown, Inc. has completed its previously announced acquisition of Kentro Capital Limited into the operations of Brown & Brown Europe. London-domiciled Kentro is an insurance industry brokering group managing over £500 million of gross written premiums since its founding in 2008. Kentro companies, Nexus, Xenia, Millstream, Capstone Brokers and ... Read the full article
Saudi Re signs MoU with PIF to raise capital
9th October 2023
Saudi Arabia-domiciled reinsurer, Saudi Reinsurance Co., is raising new capital via the issuance of new shares that will be purchased by Saudi Arabia's Public Investment Fund (PIF), a sovereign wealth fund, according to a filing with the stock exchange. On October 7th, Saudi Re signed a non-binding memorandum of understanding (MoU) ... Read the full article
Arthur J. Gallagher acquires The Coverage Pro
9th October 2023
Arthur J. Gallagher & Co. has announced the acquisition of The Coverage Pro, an Arizona-based retail insurance broker expert with expertise in construction for commercial and personal lines clients throughout the state. As part of the transaction - terms were not disclosed - Gallagher will also acquire The Coverage Pro's affiliated ... Read the full article
SkyWatch acquires assets of Droneinsurance.com
9th October 2023
SkyWatch, a digital insurance firm for the aviation industry has acquired the assets of Droneinsurance.com, in a move that brings together two innovative platforms and marks a major milestone across the drone insurance sector. This collaboration also heavily underlines SkyWatch's commitment to providing unmatched coverage and service to drone operators across ... Read the full article
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
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