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.
IRB Brasil Re sells off Rio headquarters in capital drive
31st August 2022
Brazilian reinsurer IRB Brasil Re has sold off the building where its headquarters are currently located as part of its ongoing efforts to raise capital levels to a regulatory minimum. Last week, the reinsurer confirmed a new share offering as part of its capital drive following drought losses that resulted ... Read the full article
BRP partners with CyberCube to fuel growth
31st August 2022
Baldwin Risk Partners (BRP) has announced a partnership with cyber risk analytics specialist CyberCube, to power its cyber growth. With the partnership, BRP has gained access to a wide range of products and services including Broking Manager, CyberCube’s consulting service Concierge, and learning platform CyberCube Academy. BRP note that this will enable ... Read the full article
Sompo sells Endurance at Lloyd’s run-off business
30th August 2022
Sompo has sold its Endurance at Lloyd’s (EAL) run-off business to Riverstone International. The firm said in a statement that this deal effectively completed its previously communicated objective to consolidate its UK presence into one company market platform. Julian James, CEO, Global Markets, Commercial P&C at the firm, said: “Since executing on ... Read the full article
DARAG acquires North American captive insurance company for $30mn
30th August 2022
Legacy acquirer, DARAG Group concluded a new agreement with an undisclosed captive insurance company, with a transaction value of approximately $30 million. The transaction, written into DARAG Bermuda, allows the original insurer full legal finality, with DARAG facing the original fronting insurer. Its structure was a novation of its 03-06 and 15/16 ... Read the full article
Wilton Re sells ivari to Sagicor
26th August 2022
Wilton Re has announced that it has entered an agreement to sell Toronto-based life insurance company ivari to Sagicor. Ivari is one of Canada’s leading individual life insurance providers, with assets under management totalling $11bn in 2021. Wilton Re acquired the operations of ivari in 2015. Dmitri Ponomarev, CEO of Wilton Re, ... Read the full article
M&A in insurance industry reaches highest growth rate in 10 years: Clyde & Co
26th August 2022
Mergers and acquisitions (M&A) in the global insurance industry reached the highest growth rate for 10 years in the first half of 2022, according to Clyde & Co’s Insurance Growth Report mid-year update. There were 242 completed deals worldwide, up from 221 in the second half of 2021 and 197 at ... Read the full article
Compre receives approval for second acquisition of MedMal
25th August 2022
Compre is to acquire French firm MedMal from a Europe-based insurer following regulatory approval. The deal is structured as a loss portfolio transfer to be followed by a legal transfer. The portfolio contains legacy, live, and prospective risks through 2023. The transaction was brokered by Guy Carpenter. Simon Hawkins, CEO Europe at ... Read the full article
Aston Lark acquires AJ Insurance Services
25th August 2022
Aston Lark has announced that it has acquired AJ Insurance. Terms of the acquisition were not disclosed. AJ Insurance has a commercial focus, specialising in construction, motor fleet, and motor trade. It says that it also has a growing property account. Peter Blanc, group CEO of Aston Lark, said: “As soon as ... Read the full article
Ambac partners with MGU and DE&I platform Embrace Partners
25th August 2022
Financial services holding company Ambac, has announced a “strategic” partnership via a minority ownership stake in Embrace Partners, a tech-driven managing general underwriter (MGU) of specialty commercial insurance and surety. Embrace - whose platform also consists of a diversity, equity and inclusion (DE&I) consulting firm - is led by industry veteran ... Read the full article
One80 acquires Agentic
25th August 2022
Broker firm One80 Intermediaries has acquired Agentic for an undisclosed amount. A statement from One80 said that Agentic is a privately owned specialty wholesale operation providing highly consultative brokerage services for professional lines products including errors and omissions, management liability, cyber liability, media liability, allied healthcare and environmental. Matthew F. Power, president ... Read the full article
Stubben Edge acquires Genesis Special Risks
24th August 2022
Stubben Edge has acquired specialist international insurance firm, Genesis Special Risks Ltd (GSR), along with its experienced team, led by MD Nick Howard. GSR is a Lloyd’s broker and has a longstanding track record in the provision of bespoke warranty and related insurance products. Founded in 2002, GSR provides wholesale re/insurance cover ... Read the full article
At-Bay acquires Relay to complement its ongoing digital distribution strategy
22nd August 2022
At-Bay has acquired Relay, a technology solutions provider enabling the digital transformation of commercial insurance placements. Relay will continue to serve a growing list of brokers and partners as an independent entity, under its own management team. At the same time, joining At-Bay also enhances Relay’s ability to expand its capabilities and ... Read the full article
Applied Systems’ acquisition of Tarmika to drive connectivity
18th August 2022
Ivans has announced that its parent company, Applied Systems, has acquired Tarmika – a leading commercial lines rating solution that streamlines small business insurance. The acquisition is set to expand Applied’s commercial quoting and Ivans’ distribution connectivity solutions to create a more valuable and digital distribution experience at each stage of ... Read the full article
Ocean Re acquires Oceva Risk
17th August 2022
Ocean International Reinsurance Company Limited (Ocean Re) has announced that it has acquired Oceva Risk Solutions Limited, a London Market-facing business that is fully authorised by the Financial Conduct Authority (FCA). As part of the deal, which has been approved by the FCA, Ocean Re has also acquired Oceva Europe ApS, ... Read the full article
Relation acquires assets of Innovative Broker Services
17th August 2022
Relation Insurance Services, a privately held corporation backed by Aquiline Capital Partners, has announced the acquisition of the assets of California-based Innovative Broker Services. The transaction brings an established insurance brokerage firm to Relation and expands the firm’s growing national footprint. Relation state that Tom Avery will continue to lead Innovative Broker ... Read the full article
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