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.
Canada Life set to expand wealth presence with IPC acquisition
4th April 2023
Canada Life, the subsidiary of Great-West Lifeco Inc., has unveiled an agreement to acquire Investment Planning Counsel Inc., an independent wealth management firm, from IGM Financial Inc. (IGM). With this acquisition, Canada Life is extending its wealth management reach and capabilities, promising to help advisors better meet the diverse and changing ... Read the full article
Pen Underwriting acquires Tay River Holdings & marine specialist subsidiaries
4th April 2023
Pen Underwriting has acquired Tay River Holdings and its wholly-owned marine specialist subsidiaries Vessel Protect, Trafalgar Marine Trades and BMM Ports & Terminals for an undisclosed sum. Established in 2020 by marine underwriters Paul Hartley, James King and Chris Goddard, Tay initially comprised the three niche MGAs, backed by the A-rated ... Read the full article
Truist completes sale of 20% stake in insurance unit to Stone Point Capital
4th April 2023
Truist has announced that it has completed its previously announced sale of a 20% stake in Truist Insurance Holdings, Inc., a subsidiary of Truist and the sixth-largest insurance brokerage in the US, to funds managed by Stone Point Capital, a private equity firm focused on the global financial services industry, ... Read the full article
Sun Life completes sale of its UK business to Phoenix Group
3rd April 2023
Sun Life Financial has completed the sale of Sun Life UK to Phoenix Group, a London-based long-term savings and retirement business. This transaction will see Sun Life UK's life and pension policies and annuity blocks for UK Clients move to Phoenix Group. The deal was first announced in August of 2022, ... Read the full article
Gallagher enters Swedish market by consolidating its subsidiaries, hires Jonas Bergfeldt as CEO
3rd April 2023
Gallagher will launch its first direct presence in Sweden on the 3rd of April 2023, following the integration and rebranding of its three individual Swedish businesses Brim, Nordic and Proinova. Insurance and reinsurance broker Gallagher acquired Brim in 2016, which was followed by the acquisition of Nordic in 2017 and Proinova ... Read the full article
India’s Edme Services to acquire Aditya Insurance Brokers from parent and Infocyber
29th March 2023
The sale of the entire stake of Aditya Birla Insurance Brokers Limited (ABIBL) to Edme Services Private Limited has been approved by the Board of Directors of its parent, Aditya Birla Capital Limited (ABCL), subject to requisite approvals. Currently, ABCL along with its nominees hold a little more than 50% of ... Read the full article
AnaCap sells minority stake in MRH Trowe to TA Associates
27th March 2023
AnaCap Financial Partners has announced the sale of a minority stake in portfolio company MRH Trowe to TA Associates two and half years after its initial investment at a 4.3x money multiple. MRHT’s founding managers will remain the largest shareholder group post-transaction and will be backed by both AnaCap and TA ... Read the full article
NSM acquires Sequoia Re, IOA Re and Rockport MGUs from J.C. Flowers
21st March 2023
NSM Insurance Group has completed its acquisition of Sequoia Reinsurance Services, IOA Re and its divisions Rockport Benefits and Insurance Resources and Auditing Services, subsidiaries of ELMC Risk Solutions, a portfolio company of J.C. Flowers & Co. Bill McKernan, President of NSM Insurance Group, commented, "We're entrepreneurs at heart and we ... Read the full article
Honan expands NZ market share with acquisition of Certus Insurance Brokers
17th March 2023
Honan Insurance Group has boosted its service capability and reach in the New Zealand market through the acquisition of Certus Insurance Brokers (CIBNZ). According to Honan, the acquisition signifies its continued growth ambition and diversification into the New Zealand market, which saw national Gross Written Premiums totalling more than $7 billion ... Read the full article
Insurance group SRG buys Consort Insurance
16th March 2023
Insurance industry intermediary Specialist Risk Group (SRG) has announced the acquisition of mid-market commercial broker Consort Insurance. The deal, which is subject to regulatory approval, will see Consort Managing Director Danny Harwood and his team join Specialist Risk Insurance Solutions (SRIS), led by Oliver Thorne who was named ist Managing Director ... Read the full article
IGI completes acquisition of Norwegian MGA Energy Insurance Oslo
15th March 2023
International General Insurance Holdings Ltd. (IGI), has completed its acquisition of Norway-based managing general agency, Energy Insurance Oslo AS (EIO). The transaction was first announced in August last year, and was originally expected to close during Q322. IGI noted that the acquisition includes all outstanding shares of EIO. The entity, which ... Read the full article
Howden acquires Liechtenstein broker to continue European expansion
15th March 2023
International insurance broker Howden, has announced its acquisition of BWV Versicherungsbroker AG (BWV) in Liechtenstein, an independent broker with a portfolio of corporate and private clients. Trading as Howden Liechtenstein AG following completion of the acquisition, the business will be led by Felix Jenny, CEO of Howden Switzerland, Austria and Liechtenstein, ... Read the full article
Swiss Re sells German subsidiary Movingdots to Powerfleet
10th March 2023
Swiss Re has agreed to sell its Germany-based subsidiary Movingdots, a provider of insurance telematics and sustainable mobility solutions, to Powerfleet. Movingdots’ buyer is described as a global leader of Internet of Things (IoT) software-as-a-service (SaaS) solutions that optimise the performance of mobile assets and resources to unify business operations. In partnership ... Read the full article
Hilb Group acquires Florida agency E/G
10th March 2023
The Hilb Group, a leading property and casualty (P&C) and employee benefits insurance brokerage, has acquired E/G of Florida. The acquisition of E/G of Florida plays a significant role in expanding the company's growing presence in the Southeast region, as well as building upon its P&C expertise. As part of the acquisition which ... Read the full article
Gallagher Re acquires WTW India treaty reinsurance operation
9th March 2023
Reinsurance broker Gallagher Re is set to expand its operations in India with the creation of a single treaty reinsurance team that will be led by Vinod Krishnan, following an agreement to acquire the treaty reinsurance broking operations of Willis Towers Watson India Insurance Brokers Private Limited (WTW India). The reinsurance ... Read the full article
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