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.
Re/insurance industry execs support sale of Willis Towers Watson assets: KBW
20th May 2021
Florida and Bermuda insurance and reinsurance industry executives recently expressed "widespread support" for the sale of Willis Re and certain other Willis Towers Watson (WTW) assets to Arthur J. Gallagher (Gallagher), according to analysts at KBW. It was announced last week that Gallagher had agreed a $3.57 billion deal to ... Read the full article
Taiwan FTC approves Aon – Willis Towers Watson merger
19th May 2021
Taiwan's Fair Trade Commission has given its approval to Aon's acquisition of and merging with rival Willis Towers Watson (WTW), saying that it does not feel it will restrict competition in the marketplace. Taiwan's Fair Trade Commission (FTC) is the entity responsible for competition policy and regulation and like so many ... Read the full article
R&Q completes acquisition of Electric Insurance Ireland DAC
19th May 2021
Randall & Quilter II Holdings Limited, the wholly owned UK subsidiary of Randall & Quilter Investment Holdings Ltd (R&Q), has now completed its acquisition of Electric Insurance Ireland DAC, a wholly owned captive insurer of Electric Insurance Company. The deal has been finalised following the receipt of regulatory approval from the ... Read the full article
Phoenix in advanced talks to sell European businesses, reports
18th May 2021
Leading life consolidator Phoenix Group is reported to be nearing the sale of its £550 million-rated European businesses to an unconfirmed buyer. Sky News says the deal is currently being finalised and that it could be announced as early as next week. Phoenix, whose market capitalisation stands at roughly £7.35 billion, is ... Read the full article
Resolution & Ashbrooke acquire Sportscover European operations
18th May 2021
Resolution Underwriting Holdings and Ashbrooke Group have completed their acquisition of Sportscover Europe and Active Underwriting Specialists, the European operations of Sportscover Australia Group. The purchase of the two MGAs will add significant capability and expertise to both the Resolution and Ashbrooke groups, with Resolution putting provisions in place for the ... Read the full article
Aon to sell retirement & investment business in Germany as part of EC remedy package
17th May 2021
Aon has agreed to sell its pensions consulting, pension insurance broking, pensions administration and investment consulting business in Germany to Lane Clark & Peacock LLP (LCP), as the global re/insurance broker moves closer to completing its proposed combination with rival Willis Towers Watson (WTW). This latest divestment comes as the brokerage seeks ... Read the full article
SRG acquires Blackrock Insurance Solutions
14th May 2021
Specialist Risk Group (SRG) has acquired specialist Irish Liability and Property MGA, Blackrock Insurance Solutions. The acquisition highlights SRG's commitment to the Irish broker market, as it invests in specialist underwriting capability and technical expertise, to support existing wholesale broker TUE and motor specialist MGA, LIME. SRG has been building its MGA ... Read the full article
Monument Assurance to acquire AME Life Luxembourg
14th May 2021
Monument Assurance Luxembourg, a member of the Monument Re Group, is set to acquire AME Life Luxembourg (AMELL) from French Mutual Insurance Group Covéa, subject to regulatory approvals. AMELL is a Luxembourg-based life insurance company with market presence in Luxembourg, Belgium and Italy. The transaction's financial terms were not disclosed and will have ... Read the full article
Willis Re’s data & analytics capabilities take Gallagher to ‘another level’, says CEO
13th May 2021
Arthur J. Gallagher's (Gallagher) agreement to acquire the majority of reinsurance broker Willis Re will take the company's data and analytics capabilities to new heights, according to J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer (CEO). Alongside other Willis Towers Watson (WTW) assets, Gallagher is poised to purchase ... Read the full article
Fitch maintains Aon, WTW ratings despite asset divestiture agreement
13th May 2021
Fitch Ratings views Willis Towers Watson’s recently announced divestiture agreement as neutral to the Long-Term Issuer Default Ratings (IDRs) of both itself and Aon. Willis Re and certain other corporate risk, broking and benefits services are all included as part of the companies' attempt to satisfy various regulatory requirements The deal, ... Read the full article
Gallagher to non-disruptively absorb WTW assets, says S&P
13th May 2021
S&P Global Ratings believes Gallagher will successfully and non-disruptively absorb the various businesses it’s set to purchase from Willis Towers Watson, prior to the latter's much-anticipated mega merger with fellow broking powerhouse Aon. The various subsidiaries, being sold to satisfy European Commission competition concerns, include Willis Re, UK specialty, as ... Read the full article
Gallagher’s Willis Re acquisition will expand UK, US and international footprint
13th May 2021
Following Arthur J. Gallagher's agreement to acquire the majority of reinsurance brokerage Willis Re, a Gallagher spokesperson has confirmed that the deal will significantly expand the company's footprint in the UK and the US, and provide it with scale operations in certain key markets. It was announced yesterday that Aon ... Read the full article
Acquisition of WTW assets will ‘accelerate’ Gallagher’s long-term strategy, says CEO
12th May 2021
With global brokerage Arthur J. Gallagher set to acquire certain assets of Willis Towers Watson (WTW), including Willis Re, the company expects to significantly expand its global value proposition in reinsurance as well as its global footprint in other parts of the business. Aon and WTW announced today an agreement ... Read the full article
Aon & WTW agree $3.57bn sale of certain assets to Gallagher
12th May 2021
Global re/insurance brokers Aon and Willis Towers Watson (WTW) have signed a definitive agreement to sell Willis Re and a number of other WTW assets to Arthur J. Gallagher & Co. (Gallagher), for a total consideration of $3.57 billion. The announcement comes as the pair look to satisfy the European Commission's ... Read the full article
Tryg and Intact receive regulatory approvals for RSA acquisition
10th May 2021
Intact Financial Corporation and Scandinavian insurer Tryg A/S have received all anti-trust and regulatory approvals for the acquisition of RSA Insurance Group plc, setting the stage for closing the mega-merger within a month. RSA will now need to re-register as a private limited company, and the High Court of Justice in ... Read the full article