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.
Private equity continues involvement in acquisition of P&C insurers: ALIRT
20th February 2023
"Recent news that Argo Group had finally found a buyer in Brookfield Reinsurance reminds us very much of the sale of Aspen to Apollo in early 2019, the parallels are interesting," say analysts at insurance research firm ALIRT. The analysts note that in both instances, the buyers are large private equity ... Read the full article
AM Best places CCR RE ratings under review amid sale talks
20th February 2023
Rating agency AM Best has decided to place the ratings of French state-owned reinsurer CCR RE under review, after parent company CCR said it had entered into negotiations to transfer control of the business. If agreed, a sale of approximately 70% of CCR RE to a consortium made up of ... Read the full article
Marco Capital to acquire NIIC from The Hartford
17th February 2023
European P&C run-off specialist Marco Capital has announced the acquisition of UK-based Navigators International Insurance Company (NIIC) from The Hartford. NIIC is authorised by the Prudential Regulation Authority and the Financial Conduct Authority and was first established by The Navigators Group, Inc. The Navigators Group was acquired by The Hartford in ... Read the full article
Insurance M&A slowdown may be best time for attractive deals: PwC
16th February 2023
Analysts at PwC have forecast that mergers and acquisitions (M&A) in the re/insurance sector could be set to slow in response to inflationary and interest rate challenges, but have added that this could also create the conditions for deals at more attractive terms. Overall, PwC expects M&A deals across all financial ... Read the full article
BMS Iberia acquires Spanish specialty broker Viafina
14th February 2023
BMS Iberia has announced that it has signed a deal to acquire Spanish specialty re/insurance broker, Seguros Viafina. The agreement is set to be completed this month, with BMS acquiring Viafina in full. The deal is subject to regulatory approval by the Dirección General de Seguros y Fondos de Pensiones. BMS states that ... Read the full article
Aston Lark to acquire Allegiance Insure
13th February 2023
Aston Lark, a Howden company, has announced it has agreed terms to acquire Allegiance Insure Ltd., based in the City of London. Established in 2015 by Charles Wintour, Allegiance Insure was founded on the premise that its allegiance is first and foremost to its clients. The company specialises in financial lines insurance ... Read the full article
Tiptree’s Fortegra acquires majority interest in Premia Solutions
13th February 2023
Global specialty insurer Fortegra, a subsidiary of Tiptree, has announced it has acquired a majority interest in Premia Solutions Limited, further expanding its Automotive Market Solutions in the UK and Ireland. Founded in 2000, Premia supports more than 2,000 automotive dealerships and leasing brokers, offering a suite of add-on insurance and ... Read the full article
CCR looks to transfer control of CCR RE and increase its capital
8th February 2023
CCR has entered into exclusive negotiations with the consortium made up of SAMBTP and MACSF to transfer control of CCR RE, the French state-owned reinsurer, and increase its capital by €200 million. According to the firm’s statement, under the proposed transaction, CCR would initially dispose of approximately 70% of CCR RE’s ... Read the full article
Brookfield Reinsurance’s expansion continues with $1.1bn Argo acquisition
8th February 2023
Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry, has announced the acquisition of Argo Group International Holdings, Ltd. in an all-cash transaction valued at roughly $1.1 billion. The Boards of Directors of both Brookfield Reinsurance and Argo have unanimously approved the definitive merger ... Read the full article
Specialty MGA UK acquires ForestRe
8th February 2023
Specialty MGA UK, a recently formed MGA focused on providing additional capacity for specialty lines of businesses, has acquired commercial forest and plantation specialist, ForestRe. ForestRe Managing Director, Phil Cottle and his team are global leaders in specialist services for commercial forests and plantations and provide insurance services for clients, ... Read the full article
Ardonagh Group completes acquisition of Australian insurance firm Envest
6th February 2023
The Ardonagh Group, one of the largest independent insurance brokers in the UK, has completed the acquisition of Australian insurance firm, Envest. This news came shortly after the firm announced it had agreed to acquire Envest for AUD482 million (£270 million). Managing Director Greg Mullion will continue to lead Envest, which ... Read the full article
Westfield completes acquisition of Lloyd’s Syndicate 1200 from Argo Group
3rd February 2023
Westfield Specialty, a US property and casualty insurer, has announced the completion of its acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings. The deal was first announced in September of last year for a disclosed purchase price of approximately $125 million. At the time, Syndicate 1200 ... Read the full article
Verisk completes sale of its energy business, Wood Mackenzie to Veritas
3rd February 2023
Global data analytics provider Verisk has completed the sale of its energy business, Wood Mackenzie, to Veritas Capital for $3.1 billion. Plans for the sale were originally announced in October 2022. Over the last year, Verisk has also been shifting its focus towards becoming a pure-play re/insurance business. This sale therefore ... Read the full article
Amwins Global Risks drives energy presence with RAP acquisition
2nd February 2023
Amwins Global Risks, the international arm of insurance broker Amwins, has acquired energy and marine focused broker, Roberts Armytage & Partners (RAP), as it seeks to expand its energy practice in London. "We couldn't be more excited about partnering with RAP as we have a history built on the success of strategic ... Read the full article
Slide acquires Florida renewal rights & intellectual property from UPC
1st February 2023
Full-stack insurtech Slide Insurance has acquired the exclusive renewal rights for over 91,400 Florida homeowners insurance policies from UPC Insurance. Slide suggests that the acquired policies represent $272 million in annual premium, bringing its total in-force premium value to $560 million. Under the terms of the transaction, UPC will cancel most of ... Read the full article
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