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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.

PSC Group to purchase Lloyd’s broker Paragon for £42m

25th July 2019

Australia-based PSC Insurance Group has announced the acquisition of Paragon International, a Lloyd’s and London market broker, for a base consideration of £42 million. To fund the placement, PSC has completed an institutional share placement of 13,461,538 additional shares at a price of $2.60 per share, raising total gross proceeds of ... Read the full article

Broker consolidation an opportunity for Beazley, says Layton

24th July 2019

Beazley’s global head of broker relations and marketing Lou Ann Layton has spoken of the opportunities inherent to an “undeniable” trend of consolidation currently sweeping the brokerage community. “While some people look at broker consolidation as a threat to the industry, or the underwriting community, Beazley sees it as an opportunity,” ... Read the full article

M&A to accelerate as insurers respond to evolving client demand: Deloitte

23rd July 2019

Analysis by Deloitte claims that the majority of insurers expect that merger and acquisition (M&A) activity will drive more than half of the insurance industry's growth over the next five years. Responses from Deloitte's survey of 200 insurance leaders across the EMEA region shows that 72% of survey respondents expect the ... Read the full article

HDI Global Specialty expands in Sweden with Svedea acquisition

23rd July 2019

HDI Global Specialty SE, a joint venture of reinsurance giant Hannover Re and HDI Global SE, has acquired alternative specialty lines Managing General Agent (MGA) Svedea AB, boosting its presence in Sweden. Svedea is one of the largest insurers of yachts, motorcycles and snowmobiles in the Swedish insurance market, with 250,000 ... Read the full article

DARAG announces second UK acquisition in as many weeks

22nd July 2019

Legacy acquirer DARAG Group is set to acquire The Underwriter Insurance Company, a UK-based insurer in run-off. This move will see DARAG further its expansion into the UK following its purchase last week of London-based non-life reinsurer One Re. The transaction, subject to regulatory approval, will be completed through DARAG Deutsche ... Read the full article

Apollo reported to target Coface acquisition

22nd July 2019

Private equity firm Apollo Global Management is reportedly in talks with credit insurer Coface regarding a potential acquisition of the business, according to reports from Reuters. Sources confirmed that Apollo had approached Coface with a takeover offer, although discussions remain at a very early stage, with no certainty that they will ... Read the full article

Generali expands in Portugal with €600mn double acquisition from Apollo

19th July 2019

Generali has expanded its presence in Portugal with the acquisition of a local insurance company and service platform from Apollo Global Management, in a deal valued at €600 million. Under the agreement, Generali will acquire 100% of Seguradoras Unidas for €510 million and AdvanceCare for €90 million. Seguradoras Unidas is the second ... Read the full article

DARAG to acquire its first UK firm, One Re

18th July 2019

Legacy acquirer DARAG Group has announced the acquisition of One Re, a London-based non-life reinsurance company. This deal will mark DARAG’s first UK acquisition and follows last year’s €230 million equity funding secured from Aleph Capital and Crestview Partners in an effort to support global growth. “With this transaction, DARAG cements ... Read the full article

Use of transactional risk insurance swelled in 2018: Marsh

17th July 2019

A new report from global re/insurance brokerage Marsh suggests the use of transactional risk insurance underwent a significant increase in 2018. For example, policy limits in excess of $1 billion are now being made available for single transactions as private equity firms and strategic investors increasingly use insurance to reduce the ... Read the full article

Acrisure offers $300m senior debt to fund acquisitions, growth

17th July 2019

US insurance brokerage Acrisure has announced plans to offer approximately $300 million in senior debt. The company intends to use the net proceeds from the offering to fund acquisitions and to pay related fees and expenses. The $300 million aggregate principal amount of senior notes is due 2026. Over the past two years, ... Read the full article

Brown & Brown acquires Innovative Risk and LSI Lender

16th July 2019

Brown & Brown, Inc. subsidiaries, Brown & Brown Metro, LLC and Brown & Brown of Kentucky, Inc., have acquired substantially all of the assets of Innovative Risk Solutions, Inc. (Innovative) and LSI Lender Services, LLC (LSI), respectively. The acquisition of Innovative was announced by Brown & Brown, Inc.'s Chief Acquisitions Officer, ... Read the full article

Risk Strategies acquires trucking and transportation specialist, Winter Group

16th July 2019

U.S. domiciled broker and risk management company, Risk Strategies, has acquired trucking industry-focused specialty insurance program manager, Winter Group, Inc. The takeover adds transportation industry expertise to Risk Strategies' wholesale operations. Winter Group, a transportation wholesaler that provides national insurance solutions for "virtually all facets" of both the trucking and transportation sector, ... Read the full article

B.P. Marsh to acquire 36% stake in Agri Services

15th July 2019

Venture capital provider B.P. Marsh & Partners Plc has announced an investment into Sydney-based holding company Agri Services. The deal will see Marsh acquire a 36% equity stake in Agri for an initial cash consideration of AU$1.47m (£817,000), and further consideration of up to AU$1.13m (£628,000) may become payable. In turn, Agri ... Read the full article

$2bn AMP Life sale to Resolution now “highly unlikely”

15th July 2019

Financial services firm AMP says it's “highly unlikely” the previously-announced sale of its life businesses to Resolution Life will go ahead on the current terms, due to challenges in meeting the condition precedent for Reserve Bank of New Zealand (RBNZ) approval. This condition requires RBNZ approval on a change of ... Read the full article

Arthur J. Gallagher acquires Stonehenge Insurance

11th July 2019

Global insurance brokerage Arthur J. Gallagher & Co. has acquired Florida-based Stonehenge Insurance Solutions, terms of the transaction were not disclosed. Stonehenge offers commercial insurance products and consulting services to Professional Employer Organizations (PEOs) and staffing clients throughout the US. The company’s leadership team, Jeff Rendel, Troy Reynolds, Chris O'Connor and their ... Read the full article

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