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 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
Stonybrook helps Wisconsin Re sell WRC book to Insural
15th November 2023
With Stonybrook Capital as financial advisor, Wisconsin Re wholly-owned subsidiary, WRC Agency Inc., has closed on the sale of its book of business to Insural Insurance Solutions, Inc., a subsidiary of Farmers Union Service Association, LTD. Based in North Dakota, US, Insural is a provider of insurance brokerage services specialising in ... Read the full article
Farmers Group to acquire three brokerages and flood program of Farmers Exchange
14th November 2023
Zurich, through its wholly-owned subsidiary, Farmers Group (FGI), has agreed to acquire three brokerages and the flood program servicing arm of the Farmers Exchanges, for $760 million. According to the announcement, “ownership of the brokerages will ensure FGI maintains and broadens its position in supporting the Exchanges in meeting customers’ needs ... Read the full article
James River to explore strategic alternatives
10th November 2023
After reaching an agreement to sell its third-party casualty reinsurance business to Fleming earlier this week, the Board of James River Group Holdings, Ltd. has decided to "explore a range of potential strategic alternatives", including a potential sale or merger. On Wednesday, James River announced its exit from the reinsurance space ... Read the full article
MGA DOXA Insurance Holdings to be acquired by Goldman Sachs Asset Management
8th November 2023
DOXA Insurance Holdings, an underwriting and distribution company based in North America, has entered into a definitive agreement to be acquired by Goldman Sachs Asset Management. According to the announcement, the transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions and regulatory approvals. Waller Helms ... Read the full article
Arthur J. Gallagher acquires Dublin-based Keaney Insurance Brokers
6th November 2023
Arthur J. Gallagher & Co. has acquired Dublin, Ireland-based Keaney Insurance Brokers Ltd. Keaney is a commercial insurance broker that supports businesses across Ireland with insurance and risk management solutions. Terry Keaney, the firm's Managing Director, and his team will remain in their current location under the direction of Ronan Foley, head ... Read the full article
Porch Group insurance carrier HOA released from regulatory supervision
6th November 2023
Software company Porch Group has announced that Homeowners of America Insurance Company (HOA), its wholly owned insurance carrier subsidiary, has been released from the Texas Department of Insurance (TDI) temporary regulatory supervision. According to the announcement, the TDI “is satisfied with HOA’s capital surplus, financials, and operating plan following Porch Group’s ... Read the full article
Valani Global to acquire MSA Research
6th November 2023
Valani Global, an actuarial modeling and financial reporting firm, is acquiring MSA Research, a Canadian analytical research firm specializing in the insurance industry. Nazir Valani, Founder of Valani Global, commented: "The synergy between the three companies solidifies our position as a one-stop shop for actuarial services." MSA Research is an independent, impartial ... Read the full article
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