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.
Applied Underwriters acquires Oklahoma Property & Casualty
1st March 2021
Applied Underwriters has announced that its North American Casualty Company has completed the acquisition of Oklahoma Property and Casualty Insurance Company (OP&C). The acquisition was subject to regulatory approvals from the Oklahoma Insurance Department, and will effect a number of changes with respect to OP&C as well as the Texas Insurance ... Read the full article
Aon / WTW deal circled by merger arb & event driven hedge funds
26th February 2021
The Aon and Willis Towers Watson (WTW) deal, which will be the largest insurance and reinsurance broker merger or acquisition in history, is now attracting significant attention from investors in the merger arbitrage and event driven hedge fund space. Just in the last two weeks, we've heard from numerous global investment ... Read the full article
Insurer and reinsurer SiriusPoint launches with $3bn+ in capital
26th February 2021
Bermuda-based SiriusPoint Ltd., the new insurer and reinsurer incepted via the combination of Third Point Re and Sirius Group, has officially launched with more than $3 billion in initial capital. Led by Chief Executive Officer (CEO) and Chairman Sid Sankaran, SiriusPoint launches as one of the first substantial players of the ... Read the full article
Aviva announces exit from Turkey
24th February 2021
London-headquartered insurer Aviva has announced that it plans to exit the Turkish re/insurance market via a sale of its shareholding in AvivaSA Emeklilik ve Hayat AS (Aviva SA). Aviva has agreed to sell its entire 40% shareholding in the Turkish join venture to Ageas Insurance International N.V. Ageas will pay a cash ... Read the full article
Applied Underwriters’ Centauri Insurance acquires Gulfstream renewals
23rd February 2021
Centauri Insurance, a subsidiary of risk services firm Applied Underwriters, has acquired the renewal rights to 16,700 policies from Gulfstream Property and Casualty Insurance Company and Gulfstream Select Insurance Company. Gulfstream is a Florida-based insurance company that provides homeowners' insurance. The polices acquired by Centauri relate to business in Alabama, Read the full article
Phoenix, Standard Life Aberdeen simplify strategic partnership
23rd February 2021
Phoenix Group and Standard Life Aberdeen (SLA) have entered into a new binding agreement designed to simplify their existing strategic partnership and enable Phoenix to control its own distribution, marketing and brands. At the same time SLA became a leading shareholder in Phoenix and today has a strategic shareholding of around ... Read the full article
Aviva sells French business to Aéma Groupe for €3.2bn
23rd February 2021
After months of speculation, London-headquartered insurer Aviva has announced an agreement to sell its French business to mutual insurer Aéma Groupe, for €3.2 billion in cash. In the second-half of last year, reports started to emerge claiming that Aviva was considering the sale of its life and P&C operations in France ... Read the full article
Aston Lark acquires two health insurance specialists
23rd February 2021
Insurance broker Aston Lark has bolstered its employee benefits and individual health insurance expertise with the acquisition of both Right to Health Ltd and The Health Insurance Specialists. Right to Health is an independent individual health insurance specialists, founded by Gary Marney and Stephen Carroll in 2001. Similarly, The Health Insurance Specialists, ... Read the full article
Premia to acquire Armour Re; secures Aquiline-led equity investment
22nd February 2021
Reinsurance run-off group, Premia Holdings Ltd., has agreed to acquire Armour Re Ltd., a Bermuda-based P&C legacy reinsurer and a wholly-owned subsidiary of Armour Group Ltd., in an all-share transaction. Armour Group is an Aquiline Capital Partners LLC portfolio company and in concurrence with the acquisition, an investor group led by ... Read the full article
Re/insurance M&A to surge in 2021: Clyde & Co
22nd February 2021
Analysts at law firm Clyde & Co believe that global insurance mergers and acquisitions (M&A) activity is “set to soar” in 2021 despite economic challenges due to the pandemic. According to Clyde & Co data, there were 407 completed M&A deal worldwide in the re/insurance sector over 2020, down from 419 ... Read the full article
Castel Europe builds A&H strength with Arena acquisition
19th February 2021
Castel Underwriting Europe B.V. (Castel Europe), the European subsidiary of Castel Underwriting Agencies Limited, has announced the acquisition of Arena N.V., a Belgium-based specialist accident and health (A&H) MGA, from StarStone Group. Arena has been servicing a range of sports clubs and federations in Belgium for over 25 years providing A&H ... Read the full article
AIG actively seeking Life & Retirement sale, Athene interested
19th February 2021
Incoming AIG Chief Executive Peter Zaffino says his company is working "purposefully and with a sense of urgency on several fronts" related to a 19.9% sale of its Life and Retirement business. In a Q4 earnings call Zaffino said he was pleased with the level of interest quality of potential partners ... Read the full article
Global Risk Partners to acquire Marsh’s UK Networks operation
18th February 2021
Lloyd’s of London broker Global Risk Partners (GRP) has reached an agreement to acquire Marsh's UK Networks business, which consists of Marsh ProBroker, Bluefin Network and Purple Partnership. The agreement, which remains subject to regulatory approval, is expected to close by the second-quarter of 2021 and also includes the acquisition of ... Read the full article
Aon and WTW merger will “significantly lessen competition” in Australia
18th February 2021
The Australian Competition & Consumer Commission (ACCC) is concerned that the proposed combination of Aon and Willis Towers Watson (WTW) will significantly lessen competition in the supply of commercial risk, reinsurance and employee benefits broking and advisory services in Australia. The announcement from the ACCC comes just weeks after the ... Read the full article
Monument Re completes Isle of Man takeover from Charles Taylor
17th February 2021
Life reinsurance and insurance holding company, Monument Re, has completed the acquisition of the Charles Taylor Group’s Isle of Man life and investment operations. First announced back in August 2020, the purchase mostly consists of Charles Taylor’s life insurance entity, LCL International Life Assurance Company Limited, and Charles Taylor Holdings ... Read the full article