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.
CoreLogic receives further acquisition offer from CoStar
16th February 2021
Property information and analytics provider CoreLogic has confirmed that it has received an unsolicited acquisition proposal from CoStar Group, less than two weeks after it accepted an offer from private equity firms Stone Point Capital and Insight Partners. Under the terms of CoStar's all-stock proposal, CoreLogic shareholders would receive 0.1019 shares of ... Read the full article
Progressive acquires Protective Insurance for $338mn
16th February 2021
Property and auto-focused insurance group Progressive has announced the acquisition of Protective Insurance Corporation in a $338 million deal that’s expected to close by the end of third quarter. Upon the completion of the transaction, Protective shareholders will receive $23.30 per share in cash from Progressive. Progressive will fund the purchase through ... Read the full article
Ardonagh Group acquires Australian intermediary network Resilium
16th February 2021
The Ardonagh Group has announced the acquisition of Resilium, the largest independently owned intermediary network in Australia. Resilium will continue to be led by Managing Director Adrian Kitchin, who will be joined on the board by Paul Lynam in the newly created role of Chairman. Lynam has 30 years’ experience in the insurance ... Read the full article
Miller acquisition approved by European Commission
15th February 2021
EU regulator the European Commission has approved the acquisition of re/insurance broker Miller by global private equity firm, Cinven, and GIC, Singapore’s sovereign wealth fund. First announced in November 2020, the EC has now given the green light to the acquisition following a review. It concluded that the deal would raise ... Read the full article
SRG acquires trade credit specialist, The Channel Partnership
12th February 2021
Insurance intermediary, Specialist Risk Group (SRG), has today announced the acquisition of trade credit specialist, The Channel Partnership. The Channel Partnership, founded in 1992, provides trade credit risk advice to clients from its base in Bristol, UK. Following the acquisition, senior team and staff will join SRG’s Retail business, Specialist Risk Insurance ... Read the full article
Arch acquires majority stake in Coface
11th February 2021
Arch Capital Group's share purchase agreement with Natixis for a majority stake in France-based trade-credit insurance firm, Coface, has received all necessary approvals for its closing, triggering the appointment of Bernardo Sanchez Incera as Chairman of the Board of Directors. It was announced in February of last year that Bermuda headquartered ... Read the full article
Touchstone to acquire AIG Life & Retirement assets
10th February 2021
Touchstone Investments, a subsidiary of Western & Southern Financial Group, has entered into a definitive agreement to acquire certain assets of AIG Life & Retirement’s Retail Mutual Funds business. In the proposed transaction, which is expected to close in mid-2021, twelve funds with approximately $7.5 billion in assets will be acquired ... Read the full article
EC suspends review of Aon / WTW combination
10th February 2021
The European Commission (EC) has reportedly halted its investigation into the proposed combination of Aon and Willis Towers Watson (WTW) while it waits for more data from the broker, reports Reuters. The EC confirmed back in December that it would conduct an in-depth investigation of the transaction over concerns it ... Read the full article
Third Point Re strengthens leadership ahead of Sirius merger
9th February 2021
Hedge fund backed reinsurer Third Point Re has made three senior hires to strengthen its existing leadership team ahead of its planned merger with Sirius Group. Due to close this quarter, the merger will form a combined entity called SiriusPoint. Tim Mardon will join the senior underwriting team at SiriusPoint as Global ... Read the full article
Aon still confident WTW combination will close in H1
8th February 2021
Executives at re/insurance broker Aon have confirmed that they still expect the planned business combination with Willis Towers Watson (WTW) to close in the first half of 2021, despite an ongoing investigation by EU regulators. Speaking as part of a fourth quarter earnings call, Chief Financial Officer (CFO) Christa Davies said ... Read the full article
Howden to rebrand recently-acquired South African broker
8th February 2021
Insurance broker Howden has announced the rebranding of the recently-acquired Matrix group, a set of companies acquired in April 2020. Under the new Howden name, the group will continue to provide bespoke treaty, facultative, structured reinsurance alongside other value-added services to its clients. “We are incredibly excited about the future possibilities that collectively ... Read the full article
CRC Group acquires Federal Employee Defense Services (FEDS)
5th February 2021
CRC Group, a US wholesale distributor of specialty insurance products, has acquired the assets of Federal Employee Defense Services (FEDS). FEDS is a niche MGU that specialises in professional liability coverage for federal government employees and contractors. Following the acquisition, it will continue to be headquartered in Bethesda, Maryland and led by ... Read the full article
KKR finalises Global Atlantic acquisition
5th February 2021
Global investment firm KKR & Co. has closed its previously-announced strategic transaction to acquire all outstanding shares of life and annuity provider Global Atlantic Financial Group. Global Atlantic has delivered strong performance since the transaction was announced in July 2020. Based on preliminary financial results of Global Atlantic as at ... Read the full article
RGA to acquire Hodge Life Assurance Company
4th February 2021
Life and health reinsurance company, Reinsurance Group of America, Incorporated (RGA), has entered into an agreement to acquire 100% of the share capital of Hodge Limited's PRA authorised life insurer, Hodge Life Assurance Company Limited (HLAC). HLAC, which has annuity liabilities of roughly £570 million (USD 780 million), intends to stop ... Read the full article
CoreLogic accepts $80 per share acquisition offer
4th February 2021
Property information and analytics provider CoreLogic has accepted an acquisition offer from private equity firms Stone Point Capital and Insight Partners that values the company at $80 per share. CoreLogic has been embroiled in acquisition disputes since July 2020 when it rejected an offer of $65 per share from investors ... Read the full article