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.
Liberty Mutual makes $2.30bn move for State Auto Group
12th July 2021
Liberty Mutual is preparing to acquire super-regional insurance holding company State Auto Group in a cash deal that values the company at roughly $2.30 billion, or $52 per share. The acquisition will significantly expand Liberty Mutual's position in the personal lines and small commercial insurance space. Through the deal, Liberty Mutual will ... Read the full article
KBW explores potential consequences of Aon / WTW deal break
12th July 2021
Analysts at KBW have modelled the potential impact on Aon and Willis Towers Watson (WTW) if their pending merger deal were to collapse. The firm believes that the brokers will ultimately end up selling more businesses to satisfy ongoing regulatory concerns, but the deal is currently facing significant roadblocks, including Read the full article
Aon set for further WTW divestments to appease NZ regulators
12th July 2021
Re/insurance broker Aon has been instructed by New Zealand regulators to make further divestments if its proposed mega-merger with rival player Willis Towers Watson is to be approved. Aon was cleared to move ahead with its acquisition of WTW by the European Commission last week, in an agreement that was ... Read the full article
RMS being offered for sale by owner DMGT
12th July 2021
RMS, one of the leading catastrophe risk modelling companies serving the insurance and reinsurance industry, is being offered for sale by its ultimate owner DMGT (Daily Mail and General Trust plc). DMGT said this morning in announcing a possible reorganisation and acquisition of all of its shares by its main holder, ... Read the full article
EC approval a “major step” towards completion: Aon & WTW
9th July 2021
A statement from Aon and Willis Towers Watson (WTW) describes today’s regulatory approval from the European Commission (EC) as a “major step” towards the completion of the brokers’ pending merger. The approval was described as conditional on full compliance with a substantial set of commitments offered by Aon, including the ... Read the full article
BMS Re acquires Trean Intermediaries
9th July 2021
The US reinsurance arm of specialist broker BMS has acquired Trean Intermediaries (Trean), the US-based independent reinsurance broker and services company. Trean specialises in workers’ compensation, property and casualty, accident and health, personal auto, public entity, and professional liability lines for insurer and MGA clients. The acquisition has been made to strengthen ... Read the full article
Obsidian expands in California with Western Home acquisition
9th July 2021
Obsidian Insurance Holdings has expanded its presence in California with the acquisition of admitted carrier Western Home Insurance Company from Western National Mutual Insurance Company. Western Home, a Minnesota domestic insurer, is commercially domiciled in California, and holds certificates of authority in five other states. The company is being acquired as a ... Read the full article
Aon / WTW merger cleared by European Commission
9th July 2021
The ongoing merger between re/insurance broking giants Aon and Willis Towers Watson has cleared a significant hurdle today with breaking news of the deal’s approval by the European Commission. The approval is described as conditional on full compliance with a substantial set of commitments offered by Aon, including the divestment of ... Read the full article
Jencap acquires Lloyd’s coverholder Worldwide Special Risks
9th July 2021
Wholesale program management and binding authority business Jencap has acquired Lloyd’s coverholder underwriting agency Worldwide Hole ‘N One (WHNO). Through its primary brand, Worldwide Special Risks (WWSR), the company services the live events market with a range of covers including cancellation, non-appearance, and event property and liability. Additional lines, set to include ... Read the full article
CRC Group acquires Constellation Affiliated Partners
8th July 2021
CRC Group has closed on the acquisition of Constellation Affiliated Partners, more than doubling the size of its Specialty Programs Division and creates one of the largest program managers in North America. CRC Group’s new Specialty Programs Division now places more than $2.4B in premium across more than ten industry and ... Read the full article
Ascot announces Boston Indemnity Company acquisition
7th July 2021
Bermuda-domiciled specialty re/insurer Ascot reached an agreement to acquire Boston Indemnity Company (BIC) from Great Midwest Insurance Company (GMIC), a subsidiary of Skyward Specialty Insurance Group. The acquisition has been described as an attempt to facilitate Ascot’s entry into the US contract and commercial surety market. It has also been stated that ... Read the full article
Athene takes minority share in Australia’s Challenger
7th July 2021
Athene Holding Ltd. and Apollo Global Management have reached an agreement to purchase a 15% minority stake in Challenger Limited from an existing shareholder, marking their entry into the Australian retirement marketplace. Once completed and when combined with other Challenger shares acquired by Athene and Apollo, the acquisition of the 15% ... Read the full article
Aon / WTW US antitrust trial to begin in November, possibly later
7th July 2021
A federal judge has told global brokers Aon and Willis Towers Watson (WTW) that their trial versus the Antitrust Division of the U.S. Department of Justice (DoJ) is unable to commence before November and could be delayed further owing to a backlog of cases. After the DoJ proposed a trial ... Read the full article
Aon & Willis Towers Watson call for ‘earliest possible trial date’
6th July 2021
Global insurance and reinsurance brokers Aon and Willis Towers Watson (WTW), have emphasised the pressing need for the "earliest possible trial date" for their pending case against the Antitrust Division of the U.S. Department of Justice (DoJ), which seeks to block their $30 billion combination. After a filing an antitrust ... Read the full article
Vecta Risk Partners completes management buyout from Castel
6th July 2021
Vecta Risk Partners has completed a management buyout from its parent firm Castel, one led by partners Richard Gorely, Andy Juggins and Vyv Townend. Vecta was launched on the Castel platform in 2017 and writes specialist group and individual accident & health (A&H), travel and lifestyle insurance business across the UK ... Read the full article