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.
Aston Lark Ireland acquires Sparrow Insurances
3rd August 2022
Insurance broker and Howden company, Aston Lark Ireland, has acquired Sparrow Insurances Limited. Sparrow Insurances offers a full range of commercial and personal insurance products as well as life, pensions and investment products to its clients. Over the years, the company has established a strong brand and excellent reputation as a trusted ... Read the full article
Athora completes Amissima Vita acquisition
2nd August 2022
European life insurance and reinsurance group Athora Holding, Ltd, has announced it has completed the acquisition of Italian life insurer, Amissima Vita. Athora agreed to acquire Amissima Vita back in September 2021 as part of its continuing growth strategy focused on traditional life savings and pension products. With the closing of ... Read the full article
White Mountains completes sale of NSM to Carlyle
2nd August 2022
White Mountains Insurance Group, Ltd. (White Mountains) has completed the sale of NSM Insurance Group to investment funds affiliated with global investment firm, Carlyle. The transaction, originally announced in May, values NSM at $1.775 billion. Additionally, it was previously reported that White Mountains expects the transaction will result in a gain ... Read the full article
Howden agrees to acquire French firm CRF
29th July 2022
Insurance and reinsurance broker Howden has signed an agreement to acquire broker firm CRF. The firm said in a statement that this was its first acquisition in France since appointing Nicolas Aubert as CEO of Howden France. CRF was founded in 1999 and focuses on financial lines. Aubert said in a statement: ... Read the full article
Liberty Mutual acquires AmGeneral
29th July 2022
Liberty Mutual Insurance has completed its acquisition of Malaysian insurer AmGeneral, following regulatory approval and signing a purchase and sale agreement with AmBank. The merged entity will enter into an exclusive 20-year partnership with AmBank to distribute general insurance products. Subsequently, AmGeneral and Liberty Insurance Berhad operations will merge, and ... Read the full article
Lemonade acquisition of Metromile reaches completion
28th July 2022
Insurance firm Lemonade has finished acquiring Metromile. Under the terms of the deal, Metromile shareholders received 7.3m Lemonade shares, while Lemonade received a business with over $155m in cash, over $110m in premiums, an insurance entity licensed in 49 states, and a team unsurpassed in harnessing precision data for auto insurance. ... Read the full article
Intermediary consolidation fuelling European M&As
28th July 2022
The volume of insurance M&A deals across Europe rose by 26% from 85 to 110 in the second quarter of 2022 compared to Q2 2021, according to the European Insurance M&A Barometer by FTI Consulting. Despite spiralling inflation and rising interest rates across Europe, the data points to the continuation of ... Read the full article
Cover Genius acquires Booking Protect
26th July 2022
Cover Genius, the insurtech for embedded insurance, has acquired Booking Protect, a company specialising in embedded ticket protection for ticket sellers, platforms and live event companies in the UK and Australia. Booking Protect enables the world’s largest digital companies to embed offers for any line of insurance or warranty ... Read the full article
AXA Partners and DOA Underwriting enter partnership
25th July 2022
AXA Partners UK & Ireland is to underwrite a range of mass-market leisure Travel Insurance policies across the DOA Underwriting Ltd portfolio, as part of a new strategic partnership. The collaboration will enable more customers to access travel insurance via approximately 1,500 brokers and insurance intermediaries in niche market ... Read the full article
BMS Re acquires reinsurance broker Calomex
25th July 2022
BMS Re, the reinsurance arm of the independent specialist broker, has acquired reinsurance broker firm Calomex for an undisclosed amount. A statement from BMS said that it would acquire Calomex in full with Jorge Bellot, president of the latter, reporting to Aidan Pope, executive chair and CEO of BMS Re LAC. Pope ... Read the full article
Fitch upgrades PartnerRe following acquisition by Covea
21st July 2022
Fitch Ratings has upgraded PartnerRe’s Issuer Default Rating (IDR) to 'A' from 'A-' and senior unsecured debt ratings to 'A-' from 'BBB+'. Fitch has also upgraded the Insurer Financial Strength (IFS) rating of Partner Reinsurance Company, the company's principal reinsurance operating subsidiary, to 'AA-' (Very Strong) from 'A+' (Strong), ... Read the full article
Davies acquires Asta Capital
19th July 2022
Davies, the professional services and technology business, has announced that it has completed its acquisition of Asta Capital, the third-party managing agent at Lloyd’s. This follows approval by regulators including Lloyd’s, the UK’s Financial Conduct and Prudential Regulation Authorities, and the Dubai Financial Services Authority. The company says the deal will ... Read the full article
PartnerRe acquisition could improve Covéa business profile: AM Best
18th July 2022
Analysts at AM Best have reported that the recent acquisition of PartnerRe could lead to an improvement in Covéa’s business profile by significantly diversifying its offerings on a product and geographic basis. The rating agency stated that its financial strength ratings for Covéa remain unchanged following the announcement last week ... Read the full article
Suncorp continues simplification with sale of bank arm
18th July 2022
Suncorp Group has announced that it has signed a share sale and purchase agreement with Australia and New Zealand Banking Group Limited (ANZ) to sell its banking business. ANZ has agreed to a $4.9 billion deal to acquire Suncorp’s banking arm in a bid to boost the size of its mortgage ... Read the full article
M&A market buoyant despite economic instability – WTW
14th July 2022
Reports of global merger and acquisition (M&A) activity entering a dry spell appear to be premature, WTW says. Dealmakers have recorded the third highest number of completed deals in an opening six months since WTW began tracking M&As in 2008. In fact the only years that have surpassed the ... Read the full article
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