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.
Markerstudy Group appoints Benny Higgins as Chairman
13th April 2021
Motor insurer Markerstudy Group has appointed Benny Higgins as Group Chairman, following its acquisition of Brightside Group. Markerstudy received its regulatory approval for the acquisition on 22nd March, with the deal completed on 12th April. Kevin Spencer, Group CEO, said: “We are steering Markerstudy Group on an exhilarating growth trajectory and due ... Read the full article
Aon / WTW concessions include regional businesses, FinPro, cyber, aerospace: Reuters
13th April 2021
Global insurance and reinsurance broker Aon has reportedly offered to sell assets in a number of EU countries in order to gain EU antitrust approval for its proposed combination with Willis Towers Watson (WTW), according to Reuters. Reports at the end of March suggested that a remedy proposal for European ... Read the full article
Watford wraps up Axeria acquisition
12th April 2021
Bermuda domiciled re/insurance company Watford has completed its purchase of French property and casualty insurer Axeria, having acquired 100% of the capital stock from the APRIL Group. The deal was first announced in December 2019, and will see Watford acquire a company with in-force gross written premiums of approximately €140 ... Read the full article
Aon / WTW: Concessions show willingness to complete partial deal, say analysts
12th April 2021
In offering deal-related concessions to the European Commission, Aon and Willis Towers Watson have shown their “willingness to complete even a partial deal,” according to equity analysts at Keefe Bruyette & Woods (KBW). As we reported earlier this morning, the European Commission has restarted the clock on the Aon and ... Read the full article
Aon / Willis Towers Watson: EC restarts clock as concessions offered
12th April 2021
The European Commission (EC) has restarted the clock on its investigation into the proposed combination of Aon and Willis Towers Watson (WTW), after concessions were submitted on April 9th, but the deadline for completion has now been pushed into the second-half of the year. The regulators have been looking into the ... Read the full article
Singapore’s competition watchdog seeks consultation on Aon / WTW merger
9th April 2021
The Competition and Consumer Commission of Singapore (CCCS) is currently assessing whether the proposed combination of re/insurance brokers Aon and Willis Towers Watson (WTW) violates competition rules in the country. Competition related concerns continue to be raised, and the announcement from the CCCS follows reports that the European Commission is ... Read the full article
Kemper wraps up $370mn American Access acquisition
9th April 2021
US insurer Kemper has closed its previously announced acquisition of American Access Casualty Company for a deal valued at around $370 million. The acquisition was first announced in November 2020 and also includes American Access' related captive insurance agency Newins Insurance Agency Holdings and its subsidiaries (collectively known as AAC). AAC ... Read the full article
Star Insurance acquired by The Hilb Group
8th April 2021
The Hilb Group, LLC (THG) has announced the acquisition of Indiana-based Star Insurance Agency, effective March 1, 2021. Star Insurance Agency is a full-service agency with personal and commercial insurance offerings, including both P&C and employee benefits. As a part of the transaction, Star leaders Leslee Robinson and Billy Davenport, and the ... Read the full article
Aston Lark acquires DNA Insurance Services
8th April 2021
Aston Lark, the chartered insurance broker backed by Goldman Sachs, has acquired DNA Insurance Services to further strengthen its motor trade expertise. DNA Insurance was established in 2003, with offices in Romford and Southampton. The motor trade specialist also covers additional services across business insurance and private client home and car insurance. Peter ... Read the full article
MetLife completes sale of US P&C business to Zurich
8th April 2021
MetLife, Inc. has announced the completion of its previously announced sale of Metropolitan Property and Casualty Insurance Company and certain wholly-owned subsidiaries to Farmers Group, Inc., a subsidiary of Zurich Insurance Group. First reported in November, the $3.94 billion deal sees Farmers Group jointly acquire MetLife Auto & Home ... Read the full article
Porch Group completes Homeowners of America takeover
7th April 2021
Software company Porch Group has completed its previously announced acquisition of Homeowners of America (HOA), a property and casualty insurance company that specializes in residential property coverage for homeowners and investors. HOA is a managing general agent and insurance carrier hybrid and primarily operates in Texas, Arizona, North Carolina, South ... Read the full article
Arthur J. Gallagher acquires Parisco in Norway
7th April 2021
International insurance brokerage firm Arthur J. Gallagher & Co. has announced the acquisition of Parisco, a marine and energy broker based in Norway. Founded in 2001, Parisco serves contractors, offshore service vessels, exploration and production, shipping, passenger vessels and renewable energy clients. Following the acquisition, Parisco head Dag Magne Torjussen and his ... Read the full article
Insurer M&A activity to ‘at least double’ in 2021, says S&P
7th April 2021
Analysis by S&P claims that for 2021, insurance carrier merger and acquisition (M&A) activity is poised for a breakout year, with deal value potentially reaching as high as $71.65 billion in the aggregate. Deal value of this magnitude would represent an increase of 269.5% from the levels seen in 2020, and ... Read the full article
Aegon business sale blocked in Hungary
7th April 2021
Hungarian regulators have refused to give approval to the previously announced sale of Aegon’s Central and Eastern European operations to Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG). Under the €830 million deal, VIG had agreed to acquire Aegon’s insurance, pension, and asset management business in Hungary, Poland, Romania, and ... Read the full article
MS Amlin acquires ITMO to spearhead U.S. MGA platform
7th April 2021
Lloyd's re/insurer MS Amlin is set to acquire U.S. Managing General Agency (MGA), International Transportation and Marine Office, LLC (ITMO) and its associated subsidiaries, subject to customary closing conditions. The acquisition is part of the firm's new strategy to provide access to high quality specialty MGAs in the U.S., which is ... Read the full article