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.
Helvetia Group completes sale of Sa Nostra Vida to Caixabank
28th November 2022
Swiss insurer Helvetia Group has sold its stake in Spanish life insurer Sa Nostra Vida to Caixabank. According to the firm, the sale price was €262m and will return a high double-digit million profit for Caser. Sa Nostra Vida contributed ₣7.7m to the Group's annual result in 2021 and generated gross premiums ... Read the full article
Dubai’s Sukoon completes buyout of Generali’s UAE life insurance portfolio
28th November 2022
Dubai-based Sukoon Insurance, formerly Oman Insurance, has acquired the life insurance portfolio held by Assicurazioni Generali in the UAE, following the original agreement to buy signed in February last year. The transfer, which covers unit-linked life insurance policies, has now been fully approved by regulators, including the Central Bank of UAE ... Read the full article
Liberty Mutual considers $1bn sale of Europe business
25th November 2022
US insurer, Liberty Mutual Holding Company (LMHC), is exploring a sale of its businesses in Spain, Portugal and Ireland, according to Bloomberg News sources. People familiar with the matter - who have asked not to be identified as discussions are private - have revealed that LMHC is working with Bank of ... Read the full article
Fanhua agrees to acquire Chinese life MGA Zhongrong, launches new tech offering
25th November 2022
Independent Chinese financial services provider, Fanhua Inc., has announced the execution of a term sheet to acquire majority interests in Zhongrong Smart Finance Information Technology. The proposed transaction will involve the issuance of up to 62 million new ordinary shares of Fanhua, representing 5.44% of its enlarged share capital, in exchange ... Read the full article
Marsh to acquire majority share in Moroccan insurance broker Beassur Marsh
24th November 2022
Insurance broker and risk advisor, Marsh, has announced that it intends to exercise its option to acquire the majority of shares in Beassur Marsh, following its acquisition of a stake in the Moroccan insurance broker in June 2019. The Beassur Marsh team is headquartered in Casablanca and will become part of ... Read the full article
Ardonagh Group acquires Australian insurer Envest for £270m
23rd November 2022
The Ardonagh Group, the largest independent insurance broker in the UK, has announced it has agreed to acquire Australian insurance firm Envest for AUD482 million (£270 million) Brisbane-based Envest includes the broking network Aviso Group, a network of broking offices across five states managing circa AUD405 million in gross written premium, ... Read the full article
Nassau acquires Delaware Life Insurance Company of New York
22nd November 2022
Nassau Financial Group, L.P. has entered into a definitive agreement for its subsidiary, Nassau Life Insurance Company (NNY), to acquire Delaware Life Insurance Company of New York (DLNY) from Delaware Life Insurance Company. The transaction is expected to close in the second half of 2023. The transaction is also subject to customary ... Read the full article
Fosun appoints adviser as it mulls Peak Re sale: report
22nd November 2022
Fosun International, a Chinese multinational conglomerate holding company, has reportedly appointed Deutsche Bank to advise on a potential sale of its share in Peak Re, the Hong Kong domiciled reinsurer, according to a Reuters report. Citing four people with knowledge of the matter, Reuters notes that the potential sale comes as ... Read the full article
M&A activity has rebounded in 2022, suggests Sica | Fletcher
21st November 2022
After a slow start to the year as the industry focused on integrating the record number of transactions which closed at year-end 2021, M&A activity has rebounded, with deal volume up 3% on a year-to-date basis, says the Sica | Fletcher Agency & Broker Buyer Index. The Sica | Fletcher (SF) ... Read the full article
Risk Strategies bolsters medical presence with acquisition of Wallace Specialty
21st November 2022
Leading national specialty insurance brokerage and risk management firm, Risk Strategies, has acquired Wallace Specialty Insurance Group. Terms of the acquisition were not disclosed. Founded in 2012, Wallace Specialty was created to provide the dental industry with the best-in-class insurance services. The firm creates custom, comprehensive insurance plans for dental service organizations, ... Read the full article
Chubb increases stake in Huatai Insurance Group to 83.2%
18th November 2022
Chubb Limited has received regulatory approval from the China Banking and Insurance Regulatory Commission to increase its ownership in Huatai Insurance Group Company Limited from 47.3% to 83.2%. In November 2019, Chubb announced that it had increased its ownership in Huatai Insurance Group Company from 30.9% to 46.2%. Chubb noted that ... Read the full article
“Frenzy” of deals yields mixed outcomes for transactional risk insurers: Lockton
18th November 2022
Dealmakers continued with a “frenzy” of transactions over the latter half of 2021 and into 2022, leading to both positives and negatives in the transactional risk market, according to the latest market update from re/insurance broker Lockton. PwC figures show a 24% increase in deal activity from 2020, and Lockton Transactional ... Read the full article
One80 acquires Comprehensive Planning – Goodman LLC.
17th November 2022
One80 Intermediaries, a specialty insurance broker, has acquired Comprehensive Planning – Goodman LLC. (CPG), an independent brokerage and managing general agency specialising in life insurance. According to the announcement, this move marks One80’s second major acquisition in the life insurance space, firmly establishing offerings in all 50 states. Boston-based CPG was established ... Read the full article
AJG to raise equity capital to fund new acquisitions
16th November 2022
Re/insurance broking firm, Arthur J. Gallagher & Co (AJG)., has announced the renewal of its equity financing program for acquisitions. The firm has registered seven million shares for issuance in connection with brokerage and risk management acquisitions, in addition to two million shares that remain available for issuance from previously. It has ... Read the full article
iprism acquires Metier Underwriting
16th November 2022
MGA firm iprism has acquired Metier Underwriting. The latter, officially named Metier Trading Limited (MTL), specialises in hard-to-place contractor liabilities in construction and are experienced in the leisure, events, and security industries. The Lloyd’s coverholder is led by chief underwriting officer Stuart McAlister, who with Gaynor McAlister, established MTL in 2011. Ian Lloyd, ... Read the full article
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