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.
R&Q to sell 40% stake in MGA Tradesman for $47 million
23rd February 2023
Bermuda-based insurer R&Q Insurance Holdings has reached an agreement to sell its 40% stake in the New York-based MGA Tradesman to Roosevelt Road Capital Partners, the controlling 60% shareholder of Tradesman, which is majority owned by Daniel Hickey, Jr., the CEO of Tradesman. The total consideration is $47 million, subject to ... Read the full article
Tysers sells bloodstock broking team & managing agent to Howden
22nd February 2023
Leading independent Lloyd’s broker, Tysers has announced the sale of its bloodstock broking team and the bloodstock managing agent, Galileo, to international insurance broker, Howden. “We had built an exceptional bloodstock business but, as our focus is no longer in this area, we entered a commitment to sell the business including ... Read the full article
Brookfield Underwriting acquired by Swedish broking group Säkra
21st February 2023
Specialist MGA Brookfield Underwriting has announced it has been acquired by Säkra, one of Sweden's largest insurance intermediaries, which itself has just been acquired by private equity investment firm Cinven. According to Brookfield, it will continue as a separate company, serving all brokers in its market under its own brand. Brookfield was ... Read the full article
Private equity continues involvement in acquisition of P&C insurers: ALIRT
20th February 2023
"Recent news that Argo Group had finally found a buyer in Brookfield Reinsurance reminds us very much of the sale of Aspen to Apollo in early 2019, the parallels are interesting," say analysts at insurance research firm ALIRT. The analysts note that in both instances, the buyers are large private equity ... Read the full article
AM Best places CCR RE ratings under review amid sale talks
20th February 2023
Rating agency AM Best has decided to place the ratings of French state-owned reinsurer CCR RE under review, after parent company CCR said it had entered into negotiations to transfer control of the business. If agreed, a sale of approximately 70% of CCR RE to a consortium made up of ... Read the full article
Marco Capital to acquire NIIC from The Hartford
17th February 2023
European P&C run-off specialist Marco Capital has announced the acquisition of UK-based Navigators International Insurance Company (NIIC) from The Hartford. NIIC is authorised by the Prudential Regulation Authority and the Financial Conduct Authority and was first established by The Navigators Group, Inc. The Navigators Group was acquired by The Hartford in ... Read the full article
Insurance M&A slowdown may be best time for attractive deals: PwC
16th February 2023
Analysts at PwC have forecast that mergers and acquisitions (M&A) in the re/insurance sector could be set to slow in response to inflationary and interest rate challenges, but have added that this could also create the conditions for deals at more attractive terms. Overall, PwC expects M&A deals across all financial ... Read the full article
BMS Iberia acquires Spanish specialty broker Viafina
14th February 2023
BMS Iberia has announced that it has signed a deal to acquire Spanish specialty re/insurance broker, Seguros Viafina. The agreement is set to be completed this month, with BMS acquiring Viafina in full. The deal is subject to regulatory approval by the Dirección General de Seguros y Fondos de Pensiones. BMS states that ... Read the full article
Aston Lark to acquire Allegiance Insure
13th February 2023
Aston Lark, a Howden company, has announced it has agreed terms to acquire Allegiance Insure Ltd., based in the City of London. Established in 2015 by Charles Wintour, Allegiance Insure was founded on the premise that its allegiance is first and foremost to its clients. The company specialises in financial lines insurance ... Read the full article
Tiptree’s Fortegra acquires majority interest in Premia Solutions
13th February 2023
Global specialty insurer Fortegra, a subsidiary of Tiptree, has announced it has acquired a majority interest in Premia Solutions Limited, further expanding its Automotive Market Solutions in the UK and Ireland. Founded in 2000, Premia supports more than 2,000 automotive dealerships and leasing brokers, offering a suite of add-on insurance and ... Read the full article
CCR looks to transfer control of CCR RE and increase its capital
8th February 2023
CCR has entered into exclusive negotiations with the consortium made up of SAMBTP and MACSF to transfer control of CCR RE, the French state-owned reinsurer, and increase its capital by €200 million. According to the firm’s statement, under the proposed transaction, CCR would initially dispose of approximately 70% of CCR RE’s ... Read the full article
Brookfield Reinsurance’s expansion continues with $1.1bn Argo acquisition
8th February 2023
Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry, has announced the acquisition of Argo Group International Holdings, Ltd. in an all-cash transaction valued at roughly $1.1 billion. The Boards of Directors of both Brookfield Reinsurance and Argo have unanimously approved the definitive merger ... Read the full article
Specialty MGA UK acquires ForestRe
8th February 2023
Specialty MGA UK, a recently formed MGA focused on providing additional capacity for specialty lines of businesses, has acquired commercial forest and plantation specialist, ForestRe. ForestRe Managing Director, Phil Cottle and his team are global leaders in specialist services for commercial forests and plantations and provide insurance services for clients, ... Read the full article
Ardonagh Group completes acquisition of Australian insurance firm Envest
6th February 2023
The Ardonagh Group, one of the largest independent insurance brokers in the UK, has completed the acquisition of Australian insurance firm, Envest. This news came shortly after the firm announced it had agreed to acquire Envest for AUD482 million (£270 million). Managing Director Greg Mullion will continue to lead Envest, which ... Read the full article
Westfield completes acquisition of Lloyd’s Syndicate 1200 from Argo Group
3rd February 2023
Westfield Specialty, a US property and casualty insurer, has announced the completion of its acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings. The deal was first announced in September of last year for a disclosed purchase price of approximately $125 million. At the time, Syndicate 1200 ... Read the full article
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