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.
Coalition acquires Attune
7th October 2021
Coalition, a cyber insurance and security provider, has acquired Attune, a managing general agent (MGA) and technology-powered broker platform for commercial insurance. This acquisition brings both companies together to offer digitally-powered insurance that can leverage vast amounts of data to assess, mitigate and eliminate risk for businesses. Coalition will expand the reach ... Read the full article
Howden acquires CHB Insurance Brokers
6th October 2021
Howden, the international insurance broker, has acquired CHB Insurance Brokers (CHB), one of the pre-eminent Property & Casualty brokers in the Baltic region. The acquisition marks Howden’s expansion into the Baltic market as it continues to build out its international platform and expand its retail operations across Europe to support both ... Read the full article
Aston Lark acquires S Johnson & Company
5th October 2021
Aston Lark, the insurance broker backed by Goldman Sachs, has acquired S Johnson & Company. Established in 1990 and based in Birmingham, with a dedicated team led by Steven Johnson and Graham Ettrick, Johnsons provides insurance cover to a range of commercial clients. In addition, they’ve provided bespoke insurance solutions for the ... Read the full article
Life/annuity mutual market looks to M&A for scale: AM Best
5th October 2021
Analysts at AM Best have noted increased merger and acquisition (M&A) activity so far in 2021 in the US life/annuity mutual insurance market, which is expected to continue as the industry becomes more competitive and scale becomes more important. The rating agency notes that balance sheets of most life/annuity mutual insurers ... Read the full article
CMA begins investigation into Gallagher’s acquisition of Willis Re
5th October 2021
The UK's Competition and Markets Authority (CMA) is investigating the expected acquisition of the treaty reinsurance business of Willis Re to brokerage Arthur J. Gallagher & Co (Gallagher). It was announced in August that Gallagher had reached an agreement to acquire the treaty reinsurance operations of Willis Towers Watson (WTW). Initially, ... Read the full article
AJ Gallagher’s Pen Underwriting acquires Manchester Underwriting Agencies
5th October 2021
Arthur J. Gallagher & Co. has announced that its specialist underwriting subsidiary, Pen Underwriting, has acquired 100% of UK-based Manchester Underwriting Agencies Limited and its wholly owned subsidiary, Manchester Underwriting Management Limited (MUM). Founded in 2010 by Charles Manchester as a specialist underwriting agency, MUM is a multi-class, full-service managing general ... Read the full article
Howden makes first acquisition in Swiss brokerage market
5th October 2021
Global insurance broker Howden has announced the acquisition of BrokerCenterZürichsee AG (BCZ). This acquisition, the company's first in the Swiss brokerage market, represents investment in local expertise and a platform for its strategic growth plans in the country. BCZ is an independent insurance broker servicing Swiss SME clients across personal lines, ... Read the full article
Neptune Flood acquires parametric insurtech Jumpstart Insurance
4th October 2021
Neptune Flood, an insurtech firm focused on the flood market, has added parametric earthquake to its portfolio of technology-based insurance products via the acquisition of Jumpstart Insurance Solutions. Jumpstart leverages a parametric trigger approach to provide a set payout based on quake intensity, which unlike traditional quake cover, enables rapid payout ... Read the full article
Argo offloads Brazilian operations for $30mn
4th October 2021
Specialty insurance underwriter Argo Group International has announced its decision to sell it's Argo Brazilian arm to Spice PE, an investment company focused on global private equity investments, for a purchase price of roughly $29.8 million. Spice PE’s investments are managed by GP Advisors (Bermuda), Ltd., a wholly-owned subsidiary of GP ... Read the full article
Allstate completes sale of New York Life and Annuity Businesses
4th October 2021
The Allstate Corporation has obtained all required regulatory approvals and closed the sale of Allstate Life Insurance Company of New York to Wilton Re for $400 million. Earlier this year, Allstate agreed to sell Allstate Life Insurance Company to Everlake US Holdings Company, an entity managed by Blackstone Group. This separate transaction ... Read the full article
Aviva completes sale of Italian business to Allianz
1st October 2021
Aviva has announced the completion of the sale of its Italian General Insurance business, Aviva Italia S.p.A., to Allianz for a cash consideration of €330 million. First announced in March, the portfolio is equally distributed between motor and non-motor business segments with gross written premiums of around €400 million. In total, nearly ... Read the full article
Ascot enters US workers comp market with AmFed acquisition
30th September 2021
Specialty insurer and reinsurer, Ascot Group, has entered the U.S. workers compensation market through the acquisition of specialty workers comp carrier and third-party administrator, AmFed National Insurance Company and its subsidiaries and affiliates. Mississippi-based AmFed is a leader in the state's workers comp industry with licenses in 15 Southeastern and Midwestern ... Read the full article
Talks over the sale of AXA XL Re to Covéa fail: report
29th September 2021
According to reports in France, mutual insurance group Covéa's attempt to acquire the reinsurance operations of AXA XL has failed, with sources suggesting that the price proposed was insufficient. As reported by French publication, L'Argus de l'assurance, Covéa's search for a reinsurance entity continues after AXA XL Re joins the list ... Read the full article
Acrisure acquires Tempo Title
27th September 2021
Acrisure has acquired Tempo Title, a private Title Insurance and settlement service provider in the United States, which will mark Acrisure entrance into the real estate services business. Through this acquisition, Acrisure will establish Acrisure Real Estate Services, a new division to provide homeowners, lenders and investors a broad suite of ... Read the full article
H.W Kaufman expands into South America through Prospect acquisition
27th September 2021
H.W. Kaufman Group has expanded into South America through the acquisition of Prospect Brokers Chile based in Santiago, Chile. The acquisition resulted in rebranding Prospect Brokers Chile as Chesterfield LatAm (Latin America) and relocating to a larger office location to accommodate growth. Chesterfield, a Lloyd’s insurance and reinsurance broker in London, is ... Read the full article