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.
Guy Carpenter acquiring Israel reinsurance broker Re Solutions
30th May 2023
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, is set to acquire the leading independent operator in its field in Israel, a brokerage named Re Solutions. Re Solutions was founded in 2010 and has been Guy Carpenter’s correspondent broker in Israel since 2011, meaning this acquisition builds on a strong ... Read the full article
Pan American Life Insurance Company to acquire Encova Life Insurance Company
24th May 2023
Encova Mutual Insurance Group and Pan American Life Insurance Company have made a joint announcement that Encova Life Insurance Company, an affiliate of the Encova Mutual Insurance Group, will be acquired by and merged into PALIC. TJ Obrokta Jr, the Encova Insurance President and CEO said, “We have had strong success ... Read the full article
Moody’s affirms a stable outlook for RenRe post acquisition of AIG’s Validus Re
24th May 2023
Moody’s affirms RenaissanceRe’s ratings following the announced acquisition of Validus Reinsurance from American International Group, Inc. and said the outlook looks stable. RenaissanceRe has agreed to acquire Validus Re for $2.985 billion in cash. The company plans to fund the acquisition with a combination of equity, including $250 million of ... Read the full article
AM Best says strategic rationale for RenRe’s acquisition of Validus is “sound”
24th May 2023
AM Best has suggested the strategic rationale for RenaissanceRe’s acquisition of Validus Re from AIG appears sound, as it will immediately enhance the firm's already strong market position in many business lines in which it already successfully participates. As we wrote previously, RenRe has agreed to acquire Validus and all ... Read the full article
Fitch views RenRe’s acquisition of Validus as favourable
24th May 2023
RenaissanceRe has entered into a definitive agreement to acquire American International Group, Inc.'s (AIG) treaty reinsurance platform, which ratings agency Fitch sees as favourable for the Bermuda-based reinsurer. The acquisition includes Validus Reinsurance Ltd. and its consolidated subsidiaries, AlphaCat Managers Ltd. and the renewal rights for Talbot's assumed treaty reinsurance ... Read the full article
Ryan Specialty to acquire Socius by July 2023
24th May 2023
Ryan Specialty, an international specialty insurance firm, has announced that it has signed a definitive agreement to acquire Socius Insurance Services. Although the terms of the acquisition were not disclosed, it is expected to close in July 2023. Socius is a national wholesale insurance broker headquartered in Northern California. This will be ... Read the full article
RenRe can deploy Validus Re into its portfolio on day one: CEO O’Donnell
23rd May 2023
"We expect we can fully deploy Validus Re into our portfolio on day one, and fully integrate it into our risk management system soon afterwards, diminishing execution risk," says RenaissanceRe CEO Kevin O'Donnell, following the news that the firm is set to acquire Validus from AIG for $3bn. "We believe ... Read the full article
RenRe’s GPW poised to expand by 30% to $12bn following Validus Re acquisition
23rd May 2023
Bermuda-based RenaissanceRe's acquisition of Validus Re is expected to expand the reinsurer's gross premiums written (GPW) by around 30%, resulting in a combined portfolio of almost $12 billion, creating a top-5 global property and casualty (P&C) reinsurer As we wrote previously, RenRe has agreed to acquire Validus and all its ... Read the full article
SRG enhances professional lines offering with TLO Risk Services acquisition
23rd May 2023
Insurance industry intermediary Specialist Risk Group (SRG) has announced the acquisition of TLO Risk Services, a firm specialising primarily in the legal sector. According to the announcement, the acquisition of TLO will enhance SRG’s professional lines offering and expand its capabilities to cater to the insurance needs of firms across a ... Read the full article
RenRe acquiring Validus from AIG for $3bn, to become top-5 P&C reinsurer
23rd May 2023
RenaissanceRe, the Bermuda headquartered re/insurer, is aiming to become a top-5 global property and casualty reinsurer with the acquisition of Validus and all its subsidiaries from global player AIG for around $3 billion. RenaissanceRe (RenRe) is set to raise capital to complete this significant acquisition, with an offering of 6.3 million ... Read the full article
Arthur J. Gallagher acquires Texas-based RHP General Agency
19th May 2023
Arthur J. Gallagher & Co's subsidiary, Risk Placement Services, Inc. (RPS), has acquired Houston, Texas-based RHP General Agency, Inc. RHP is a licensed managing general agency specialising in residential property insurance for clients throughout Texas. According to the firm, its main focus is providing insurance on properties that don’t qualify for coverage ... Read the full article
Sampo to become pure-play P&C insurer after demerger approved
19th May 2023
In line with its P&C-focused strategy, Sampo plc announced a strategic review of Mandatum’s role within the group on December 7th, 2022. After assessment of options, the Board resolved to propose a demerger of Sampo to separate Mandatum. At the Annual General Meeting, held May 17th, 2023, it was resolved ... Read the full article
McGowan acquires assets of Conway Holdings
19th May 2023
The McGowan Companies, a provider of specialised insurance programs, has acquired the assets of Conway Holdings, LLC, Conway E&S, Inc., and Conway Alternative Risk Solutions, LLC., collectively known as Conway. US-based Conway is a national, well-respected group of wholesale brokerages, program administrators, program brokers, and captive managers. It specialises in the underwriting ... Read the full article
Generali Malaysia aims higher positioning post business integration
18th May 2023
Generali Malaysia aims to become one of the largest general insurers and emerging life insurer in Malaysia following its business integration with Affin Bank Bhd. Generali Group successfully acquired a controlling majority in AXA Affin joint ventures in Malaysia and completed the purchase of MPI Generali Insurans Berhad. The transaction valued ... Read the full article
Risk Strategies expands presence in Florida with acquisition of Combined Underwriters of Miami
17th May 2023
Insurance brokerage and risk management firm, Risk Strategies, has acquired Combined Underwriters of Miami - a full-service independent insurance agency that provides commercial and personal insurance products to clients in South Florida. Terms of the deal were not disclosed. Headquartered in Miami, Combined Underwriters offers a variety of insurance and employee benefit ... Read the full article
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