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.
Rcapital and Montague complete acquisition of UK General and PPL
31st October 2022
Rcapital and joint investor Montague Risk Partners have completed the acquisition of UK General Insurance and Precision Partnership Limited, following regulatory approval. The deal was first announced in August and brings together UKG and PPL under the chairmanship of Lord Marland, chief executive Tim Smyth, and CFO Ryan Gill. Lord Marland commented, ... Read the full article
Aegon to combine its Dutch operations with a.s.r.
27th October 2022
Aegon has announced it has reached an agreement with a.s.r. to combine its Dutch pension, life and non-life insurance, banking, and mortgage origination activities. The firm states that the combination will create a leading Dutch insurance company, enabling it to accelerate its strategy and will represent a major step in its ... Read the full article
Fosun weighs options for Peak Re as it looks to pay down debt
27th October 2022
Chinese conglomerate and investment company, Fosun International Ltd. is considering selling its majority stake or a minority interest in Peak Reinsurance Co., according to Bloomberg News sources. A transaction could value Peak Re at $500 million to $1 billion, and potential buyers have shown interest, including private equity firms, sources said. ... Read the full article
Acrisure to acquire two more firms
26th October 2022
Fintech firm Acrisure is to acquire the firms Sutton Winson and Sutton Specialist Risks (SSR). Both deals are subject to FCA approval and are expected to close within the next few weeks. This year, the firm says that it has completed or has under a letter of intent more than 120 ... Read the full article
AmTrust acquires DUAL NA’s middle market management liability practice
25th October 2022
AmTrust Financial Services, Inc. has acquired the middle market management liability business of DUAL North America. The acquisition includes DUAL North America’s underwriting team and renewal rights to its portfolio. As part of the transaction, seven DUAL professionals will join AmTrust's EXEC unit. Moreover, DUAL North America Management Liability is a nationwide admitted ... Read the full article
Compre to acquire Irish subsidiary of Covéa
21st October 2022
Bermuda-headquartered international legacy group, Compre has announced that it has signed agreements to acquire the Irish subsidiary of Covéa, Medical Insurance Company DAC (MIC), which provided general liability insurance covering professional medical malpractice risks. The transaction is subject to regulatory approvals. Moreover, the acquisition represents a further step in Compre’s ambition to ... Read the full article
ReSource Pro acquires software solutions firm, MIS Insurance Services
20th October 2022
ReSource Pro, a provider of business process solutions for the insurance industry, has acquired MIS Insurance Services LLC., a software solutions company that provides an integrated suite of web-based services to the commercial property and casualty (P&C) insurance market. The transaction closed on October 14, 2022. RVR Consulting Group acted as ... Read the full article
Berkshire Hathaway completes Alleghany acquisition
19th October 2022
Berkshire Hathaway has officially announced the completion of its acquisition of Alleghany, having received all regulatory approvals earlier this week. It was first announced in March that Warren Buffett’s insurance and reinsurance firm had reached an agreement to acquire all of Alleghany’s outstanding shares in an $11.6 billion transaction. The deal, ... Read the full article
AXA eyes growth in Spain with acquisition of GACM España
18th October 2022
AXA Spain, a division of the global insurance group, has entered into exclusive negotiations with Groupe des Assurances du Crédit Mutuel for the potential takeover of Groupe Assurances du Crédit Mutuel España (GACM España), its predominantly P&C and health insurance subsidiary in Spain. AXA is looking to acquire GACM España for a ... Read the full article
Berkshire’s acquisition of Alleghany to close this week after receipt of regulatory approvals
17th October 2022
All regulatory approvals relating to the proposed acquisition of Alleghany Corporation by Berkshire Hathaway have now been received. The deal is expected to complete on October 19th, 2022, subject to the satisfaction of customary closing conditions. It was first announced in March that Warren Buffett's insurance and reinsurance firm had ... Read the full article
AssuredPartners acquires Quest Benefits, Inc.
14th October 2022
Broker, AssuredPartners, Inc. has announced that it has acquired Quest Benefits, Inc. Located in Chantilly, VA, Quest is now the 23rd acquisition completed by AssuredPartners so far in 2022. In a press release, it notes that the team will remain under the leadership of President, Sami Satouri. “Quest Insurance was thrilled to celebrate ... Read the full article
Allianz X to acquire Innovation Group
12th October 2022
Allianz X, the digital investment unit of the Allianz Group, has announced it is to acquire Innovation Group, a service provider for the management of complex claims in the automotive and real estate sector. In the announcement, Allianz X stated it has entered into binding agreements with the shareholders of the ... Read the full article
Hallmark sells E&S operations to Core Specialty
10th October 2022
Property and casualty firm Hallmark has sold its excess and surplus lines operations to Core Specialty. The company said in a statement that the transaction is taking place for $40m cash, plus an estimated $19.9m consideration for the acquisition costs associated with certain net unearned premium reserves. The transaction is comprised of ... Read the full article
Allianz completes acquisition of Jubilee businesses in East Africa
10th October 2022
Allianz has announced that it has completed its transaction to acquire a majority stake in Jubilee Holdings Limited’s general insurance business in East Africa, namely in Kenya, Uganda, Tanzania, Burundi and Mauritius. The two companies had originally announced the $100 million takeover back in September 2020, when Allianz agreed to ... Read the full article
bolttech expands in Indonesia with Axle Asia acquisition
7th October 2022
Singapore-based international insurtech, bolttech, has announced it has completed the acquisition of a majority shareholding in PT Axle Asia, an established insurance broker in Indonesia. Founded in 2008, Axle Asia is a Jakarta-based insurance broker serving a diverse range of clients across corporate lines and employee benefit insurance. Bolttech suggests the addition ... Read the full article
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