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.
AFG to buy AIG’s Crop Risk Services unit for $240 million
3rd May 2023
American Financial Group (AFG) has entered into an agreement to purchase primary crop insurance general agent Crop Risk Services (CRS) from AIG. CRS is based in Decatur, Illinois, and is the seventh largest provider of multi-peril crop insurance in the United States, based on 2022 premiums. Under the terms of the transaction, ... Read the full article
Risk Strategies acquires large volume bond producer in the US
3rd May 2023
Risk Strategies, a specialty insurance brokerage and risk management and consulting firm, has acquired JW Surety Bonds, a large volume bond producer in the US, along with sister companies Bryant Surety Bonds, Inc. and Lance Surety Bond Associates, Inc. Terms of the deal were not announced. Based in Pennsylvania, JW Surety ... Read the full article
BMS acquires Australian MGA to continue international growth
2nd May 2023
Specialist re/insurance broker BMS Group has acquired Australian firm GARD Insurance, which includes hospitality MGA ALE underwriting. GARD non-executive chairman Craig Patterson will join BMS as executive chairman of GARD, with a remit to grow and expand the acquired business. Patterson is a seasoned industry operator with a wealth of experience gained ... Read the full article
Midwest Holding to be acquired by Antarctica Capital for $100 million
2nd May 2023
Midwest Holding Inc. and investment firm Antarctica Capital have entered into a definitive merger agreement whereby an affiliate of Antarctica will acquire Midwest in an all-cash transaction valued at approximately $100 million. According to Midwest, under the terms of the agreement, its shareholders will receive $27.00 in cash per share, representing ... Read the full article
Verisk acquires German InsurTech SV Krug
26th April 2023
Global data analytics and technology provider Verisk has announced that it has acquired Krug Sachverständigen GmbH (SV Krug), a Germany-based motor claims solutions provider. The acquisition expands Verisk’s claims and casualty offerings across Europe. Founded in 1982, SV Krug offers highly digitalised solutions that help insurers and car manufacturers to achieve better ... Read the full article
Trean Insurance Group acquisition by Altaris Capital Partners completed
25th April 2023
Trean Insurance Group, a provider of products and services to the specialty insurance market, has been acquired by Altaris, collectively with its affiliates, for $6.15 per share in cash. The transaction was completed five months after the companies announced they had entered into a merger agreement in December 2023. At ... Read the full article
FairFax set to acquire additional 46% stake in Gulf Insurance Group
20th April 2023
Fairfax Financial Holdings Limited has announced that it has reached a deal to more than double its stake in Gulf Insurance Group (GIG) K.S.C.P. from buying an additional roughly 46% interest from Kuwait Projects Co.(Holding) K.S.C.P. for about $860 million. When the transaction closes, Fairfax's equity interest in GIG will increase ... Read the full article
Argo shareholders approve merger with Brookfield Reinsurance
20th April 2023
Bermuda-based specialty P&C insurer Argo has announced that its shareholders have voted to approve an agreement for the company to be acquired by Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry. The all-cash acquisition proposal, made by Brookfield Reinsurance back in February, ... Read the full article
Trean Insurance Group gets stockholder approval for proposed merger
19th April 2023
Trean Insurance Group has announced that its stockholders have approved the merger agreement entered into by the firm with affiliates of Altaris. According to Trean, the proposal to adopt the merger agreement and approve the merger was supported by 87.3% of the total shares outstanding entitled to vote at the Special ... Read the full article
BMS to acquire specialist broker, Western United Financial Services
19th April 2023
Specialist insurance and reinsurance broker BMS Group has entered into an agreement to acquire West Australian specialist broker Western United Financial Services (WUFS). The terms of the transaction have not been disclosed. Founded in 2002, WUFS offers tailored insurance broking, risk management and claims handling services. At the same time, the firm ... Read the full article
M&A activity to bounce back in H2: BMS
18th April 2023
A new report from BMS, the independent specialist insurance and reinsurance broker, suggests that mergers and acquisitions (M&A) activity could “bounce back” towards the latter half of 2023. BMS looked at M&A trends from 2022 and provided an outlook for 2023 in the European, North American, and Asian markets. It noted that ... Read the full article
Aristotle completes acquisition of Pacific Asset Management from Pacific Life
18th April 2023
Aristotle Capital Management has completed the acquisition of Pacific Asset Management from Pacific Life Insurance Company, rebranding it to Aristotle Pacific Capital. The rebranded Aristotle Pacific will maintain its investment team and will continue to be led by Dominic Nolan, CFA, CEO. Aristotle explains that this will ensure the continuity of ... Read the full article
Ardonagh Europe acquires Dutch broker Classicus
18th April 2023
Ardonagh Europe, part of The Ardonagh Group, has further bolstered its presence in the Netherlands with the acquisition of Dutch broker Classicus. Classicus was founded in 2004 and is headquartered in Amsterdam. The firm provides a range of specialist high net worth products for classic and luxury cars, yachts, art collections, and ... Read the full article
Third Point’s Loeb angles to take SiriusPoint private
13th April 2023
Third Point CEO Daniel Loeb has said he will explore options to take specialty re/insurer SiriusPoint private, in an effort to improve the company's financial position and better execute on its turnaround strategy. Loeb outlined his plans in a regulatory filing this week, explaining that Third Point will look at “a ... Read the full article
M&A boom continues amid economic uncertainty: Howden
13th April 2023
Howden M&A, the international M&A insurance broker, has reported that the “boom” in merger and acquisitions (M&A) activity continues to play out as deal makers look to take advantage of the uncertain economic environment. The broker’s M&A Insurance Claims Report analyses some of the key trends across the UK and Europe, ... Read the full article
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