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.
Fanhua agrees to acquire Chinese life MGA Zhongrong, launches new tech offering
25th November 2022
Independent Chinese financial services provider, Fanhua Inc., has announced the execution of a term sheet to acquire majority interests in Zhongrong Smart Finance Information Technology. The proposed transaction will involve the issuance of up to 62 million new ordinary shares of Fanhua, representing 5.44% of its enlarged share capital, in exchange ... Read the full article
Marsh to acquire majority share in Moroccan insurance broker Beassur Marsh
24th November 2022
Insurance broker and risk advisor, Marsh, has announced that it intends to exercise its option to acquire the majority of shares in Beassur Marsh, following its acquisition of a stake in the Moroccan insurance broker in June 2019. The Beassur Marsh team is headquartered in Casablanca and will become part of ... Read the full article
Ardonagh Group acquires Australian insurer Envest for £270m
23rd November 2022
The Ardonagh Group, the largest independent insurance broker in the UK, has announced it has agreed to acquire Australian insurance firm Envest for AUD482 million (£270 million) Brisbane-based Envest includes the broking network Aviso Group, a network of broking offices across five states managing circa AUD405 million in gross written premium, ... Read the full article
Nassau acquires Delaware Life Insurance Company of New York
22nd November 2022
Nassau Financial Group, L.P. has entered into a definitive agreement for its subsidiary, Nassau Life Insurance Company (NNY), to acquire Delaware Life Insurance Company of New York (DLNY) from Delaware Life Insurance Company. The transaction is expected to close in the second half of 2023. The transaction is also subject to customary ... Read the full article
Fosun appoints adviser as it mulls Peak Re sale: report
22nd November 2022
Fosun International, a Chinese multinational conglomerate holding company, has reportedly appointed Deutsche Bank to advise on a potential sale of its share in Peak Re, the Hong Kong domiciled reinsurer, according to a Reuters report. Citing four people with knowledge of the matter, Reuters notes that the potential sale comes as ... Read the full article
M&A activity has rebounded in 2022, suggests Sica | Fletcher
21st November 2022
After a slow start to the year as the industry focused on integrating the record number of transactions which closed at year-end 2021, M&A activity has rebounded, with deal volume up 3% on a year-to-date basis, says the Sica | Fletcher Agency & Broker Buyer Index. The Sica | Fletcher (SF) ... Read the full article
Risk Strategies bolsters medical presence with acquisition of Wallace Specialty
21st November 2022
Leading national specialty insurance brokerage and risk management firm, Risk Strategies, has acquired Wallace Specialty Insurance Group. Terms of the acquisition were not disclosed. Founded in 2012, Wallace Specialty was created to provide the dental industry with the best-in-class insurance services. The firm creates custom, comprehensive insurance plans for dental service organizations, ... Read the full article
Chubb increases stake in Huatai Insurance Group to 83.2%
18th November 2022
Chubb Limited has received regulatory approval from the China Banking and Insurance Regulatory Commission to increase its ownership in Huatai Insurance Group Company Limited from 47.3% to 83.2%. In November 2019, Chubb announced that it had increased its ownership in Huatai Insurance Group Company from 30.9% to 46.2%. Chubb noted that ... Read the full article
“Frenzy” of deals yields mixed outcomes for transactional risk insurers: Lockton
18th November 2022
Dealmakers continued with a “frenzy” of transactions over the latter half of 2021 and into 2022, leading to both positives and negatives in the transactional risk market, according to the latest market update from re/insurance broker Lockton. PwC figures show a 24% increase in deal activity from 2020, and Lockton Transactional ... Read the full article
One80 acquires Comprehensive Planning – Goodman LLC.
17th November 2022
One80 Intermediaries, a specialty insurance broker, has acquired Comprehensive Planning – Goodman LLC. (CPG), an independent brokerage and managing general agency specialising in life insurance. According to the announcement, this move marks One80’s second major acquisition in the life insurance space, firmly establishing offerings in all 50 states. Boston-based CPG was established ... Read the full article
AJG to raise equity capital to fund new acquisitions
16th November 2022
Re/insurance broking firm, Arthur J. Gallagher & Co (AJG)., has announced the renewal of its equity financing program for acquisitions. The firm has registered seven million shares for issuance in connection with brokerage and risk management acquisitions, in addition to two million shares that remain available for issuance from previously. It has ... Read the full article
iprism acquires Metier Underwriting
16th November 2022
MGA firm iprism has acquired Metier Underwriting. The latter, officially named Metier Trading Limited (MTL), specialises in hard-to-place contractor liabilities in construction and are experienced in the leisure, events, and security industries. The Lloyd’s coverholder is led by chief underwriting officer Stuart McAlister, who with Gaynor McAlister, established MTL in 2011. Ian Lloyd, ... Read the full article
Aston Lark Ireland expands with new acquisitions
14th November 2022
Aston Lark Ireland, a Howden company, has announced the acquisition of William Lyons Insurances and wholly owned subsidiary J.C. Daly Insurances. In the announcement the broker said it had agreed the terms of the acquisition and added that it is subject to approval. Robert Kennedy, Aston Lark Ireland CEO, said: “I’m delighted ... Read the full article
Arthur J. Gallagher acquires PIUS Limited
10th November 2022
Re/insurance broking firm, Arthur J. Gallagher & Co has announced it has acquired North Carolina-based PIUS Limited and its affiliate Newlight Capital. Terms of the transaction were not disclosed. Patent Insurance Underwriting Services (PIUS) is a managing general agent offering a proprietary insurance product that allows clients to insure certain intellectual property ... Read the full article
Novatae Risk acquires MarketScout, names Richard Kerr CEO
10th November 2022
Novatae Risk Group, a full-service wholesale insurance broker, managing general agency (MGA) and programme manager, has acquired fellow, Dallas-based brokerage firm MarketScout Corporation, and announced the latter's Founder and Chief Executive Officer (CEO), Richard Kerr, as its new CEO. Effective immediately, Kerr takes over from acting CEO and Chief Operating Officer (COO), ... Read the full article
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