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.

Reinsurers’ M&A strategies could be hit by recent capital loss events

10th November 2017

As reinsurers cope with significant third-quarter catastrophe-related losses, research analysts speaking at the 2017 Bermuda Reinsurance Conference said they believed that although the hit to reinsurer balance-sheets would be less severe than in previous high-loss years, it would impact firms' M&A strategies. "It seems like, if you look at the hits ... Read the full article

Preservation Capital acquires stake in cyber MGA Ascent

9th November 2017

Cyber and specialty lines Managing General Agent, Ascent Underwriting, has agreed that Preservation Capital Partners will take a substantial stake in the business subject to regulatory approval, providing significant capital to support Ascent’s growth ambitions. The Ascent managing team will retain a significant shareholding in Ascent and will continue to manage the ... Read the full article

Post-catastrophe rate hikes could make reinsurance M&A more attractive

3rd November 2017

Reinsurance merger and acquisitions (M&A) activity has been in the doldrums somewhat in recent quarters, as the continued pressure on reinsurers has made them less attractive over time. With tepid demand growth, pressure from high levels of excess traditional reinsurance capital, as well as growing competition from alternative capital providers, coupled ... Read the full article

Aon Netherlands completes acquisition of UMG from Aegon

1st November 2017

Aon Groep Nederland, the Netherlands subsidiary of global insurance and reinsurance broker Aon, has completed the acquisition of Unirobe Meeus Group (UMG) from Aegon, for €295 million (US$343 million). The transaction includes the whole of UMG and strengthens Aon's position in the Netherlands marketplace, improving its presence in the SME and ... Read the full article

AXIS completes Novae acquisition

18th October 2017

Bermudian insurer and reinsurer, AXIS Capital Holdings Limited, has announced the completion of its acquisition of Novae Group, after receiving all necessary regulatory approval. The deal was initially announced in July, 2017, and after AXIS increased its offer by 2% in August, the firm then completed phase one ... Read the full article

Guidewire Software to acquire P&C insurance software provider Cyence

12th October 2017

Software provider to Property and Casualty (P&C) insurers, Guidewire Software, has entered into an agreement to acquire Cyence, a software provider that uses data science and risk analytics to expand P&C insurers' underwriting capabilities to include previously uninsured risks. Cyence offers a data listening and risk analytics solution that combines curation ... Read the full article

Swiss Re takes £800m MS&AD investment into ReAssure, its closed life consolidator

6th October 2017

Global reinsurance giant Swiss Re is set to take an £800 million investment from Japanese insurance holding company MS&AD Insurance Group Holdings Inc (MS&AD) into ReAssure, its UK closed life book consolidator. MS&AD will purchase a 5% stake in ReAssure for £175 million, through an investment in ReAssure Jersey One Limited, ... Read the full article

European re/insurance sector M&A activity to diminish: A.M. Best

4th October 2017

Global ratings agency, A.M. Best, expects to see less consolidation in the European insurance and reinsurance sector in the coming months as opportunities decline alongside appetite. In recent times, merger and acquisition (M&A) activity has been fairly strong and consistent across the European insurance and reinsurance sector, as companies look to ... Read the full article

AXIS acquires shares of Novae as deal nears completion

2nd October 2017

AXIS Capital Holdings Limited has now acquired the shares of Novae Group for 715 pence per share, and expects to secure management of the company no later than October 18th, 2017. AXIS announced in early July that it would acquire Novae Group, before increasing its offer by 2% in ... Read the full article

AXIS’ takeover of Novae expected to be completed by October 18th, 2017

26th September 2017

AXIS Capital Holdings Limited will complete its previously announced acquisition of Novae group in two phases, the deal is expected to be finalised no later than October 18th, 2017. AXIS Capital announced in July this year that it would acquire Novae for $604 million, before increasing the offer in Read the full article

Reinsurers offset sluggish market with M&As: Fitch

8th September 2017

Reinsurers continue to turn to M&As for the opportunity to diversify with some entities choosing to acquire service businesses outside of reinsurance, driven by low returns on reinsurance capital, according to Fitch’s 2017 mid-year financial results report. The main strategy for offsetting sluggish market growth has continued to be M&As this ... Read the full article

Allianz expands African footprint with Ensure Insurance acquisition

4th September 2017

Global insurer Allianz has announced a new binding agreement to acquire 98% of Nigerian domiciled insurance firm, Ensure Insurance Plc., from its main shareholder, Greenoaks Global Holdings Ltd. Ensure Insurance provides life and non-life insurance services and during 2016 produced gross written premiums (GWP) of €11 million ($13.1mn). Nigeria has the largest ... Read the full article

Sompo Canopius sold to Centerbridge Partners consortium for $952m

1st September 2017

Global specialty insurance and reinsurance firm Sompo Canopius AG has been sold to a consortium of investors led by private equity and credit specialist Centerbridge Partners, L.P. for a $952 million fee, by parent Sompo Holdings. This announcement had been expected and rumours about the potential for a Centerbridge led acquisition ... Read the full article

Arch gets negative outlook from A.M. Best on United Guaranty risks

31st August 2017

Bermudian insurance and reinsurance firm Arch Capital Group Ltd. and its Arch Reinsurance Ltd. subsidiary have both had negative outlooks assigned to their credit ratings by A.M. Best. The negative outlooks are due to A.M. Best's view that Arch has experienced a "significant increase in financial leverage" due to the issuance ... Read the full article

AXIS’ increased offer for Novae accepted by shareholders

29th August 2017

The revised and increased offer made by global specialty insurance and reinsurance firm AXIS Capital Holdings Limited to acquire Lloyd’s of London focused diversified specialty re/insurer Novae Group plc has been accepted by shareholders, the company reported today. Novae Group held a General Meeting earlier today in London and approximately 99.97 ... Read the full article

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