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.
Milestone Partners builds out specialty insurance holdings
22nd January 2021
Investment firm Milestone Partners has announced the formation of a specialty insurance holding company, Insure Homes Holdings LLC, through which it has acquired control of Cypress Group Holdings, Inc., including reinsurance brokerage subsidiaries Access Re and Vista Re. Cypress is a holding company that owns managing general agent and insurance carrier ... Read the full article
Increased scale will unlock market opportunities, says SiriusPoint
21st January 2021
SiriusPoint, the new insurer and reinsurer incepted via the combination of Third Point Re and Sirius Group, has said that increased scale will allow it to capitalize on more market opportunities. In a recent presentation, SiriusPoint explained that the enhanced scale and underwriting capabilities provided by its merger will make it ... Read the full article
Blackstone adds Morgan Stanley’s Hovey to lead insurance acquisitions
21st January 2021
US investment giant Blackstone has appointed Michael Hovey to the role of senior managing director. Hovey will lead acquisitions and strategic partnerships for Blackstone Insurance Solutions and reports to Gilles Dellaert, global head of the unit. He joins from Morgan Stanley, where he was a managing director and most recently served as ... Read the full article
Sixth Street to acquire Talcott Resolution
20th January 2021
Global investment firm Sixth Street has agreed to acquire Talcott Resolution Life Insurance Company from a consortium of investors led by Cornell Capital, Atlas Merchant Capital, TRB Advisors, Global Atlantic Financial Group, Pine Brook, J. Safra Group, and The Hartford. Talcott Resolution manages over $90 billion in liabilities and surplus for ... Read the full article
Constellation acquires INSUREtrust
20th January 2021
Constellation Affiliated Partners has acquired INSUREtrust, a specialty wholesale broker and MGA headquartered in Atlanta, Georgia. INSUREtrust distributes cyber liability, technology errors & omissions, and miscellaneous professional liability coverages. Alongside its acquisition by Constellation, a New York-based insurance consolidator platform, the INSUREtrust team also announced the promotion of Christiaan Durdaller to President ... Read the full article
HSBC & Etiqa named as shortlisted bidders for AXA Singapore: reports
20th January 2021
British bank HSBC Holdings and Etiqa, the majority owned Malayan Banking insurance joint-venture, have been named as two of the shortlisted bidders for the Singapore operations of global insurer and reinsurer AXA, reports Bloomberg. According to reports, people familiar with the matter have said that the sale of AXA Singapore could ... Read the full article
Gallagher acquires Atlas General Insurance Services
20th January 2021
Re/insurance broker Arthur J. Gallagher & Co. has announced the acquisition of San Diego-based multiline program manager and managing general agency Atlas. Founded in 2009 by Bill Trzos, Atlas offers workers compensation, commercial lines and specialty property programs nationwide, with expertise in the California workers compensation market. Mike Mathews, Charles Lasher and ... Read the full article
Intact gains approvals for RSA acquisition
20th January 2021
Canadian property and casualty insurer Intact gained shareholder approval for its proposed joint-takeover of UK insurer RSA. The company also received unconditional approval for the Acquisition from the Canadian Competition Bureau. A majority of RSA shareholders likewise voted to approve the acquisition. Back in November, Intact announced the successful completion of a ... Read the full article
Porch Group announces four strategic acquisitions
15th January 2021
Porch Group has announced four separate strategic acquisitions aimed at strengthening the company's expanding platform for home service companies and homeowners. Homeowners of America (HOA) is a Managing General Agent and insurance carrier hybrid operating in six states. Porch and HOA have executed a definitive merger agreement for Porch to acquire HOA ... Read the full article
Enstar announces key reinsurance deal with ProSight
15th January 2021
Enstar has entered an agreement with subsidiaries of ProSight Global to provide reinsurance relating to 2019 and prior year business. The transaction is subject to the closing of ProSight's acquisition by international investment management firm TowerBrook and Further Global Capital Management, a private equity firm with a focus on the financial ... Read the full article
ProSight to be acquired by TowerBrook & Further Global in $586mn deal
15th January 2021
Specialty insurer ProSight Global, Inc. is to be acquired by affiliates of international investment management firm, TowerBrook Capital Partners L.P. and Further Global Capital Management, a private equity firm with a focus on the financial services industry. Affiliates of TowerBrook and Further Global have signed a definitive merger agreement to acquire ... Read the full article
Insurtech Bold Penguin acquired by American Family
15th January 2021
Property/casualty insurance group American Family has announced the acquisition of Bold Penguin, an insurtech firm focused on providing cover to small businesses. Bold Penguin will become a subsidiary of the American Family Insurance group but will maintain its name and business model. It's hoped Bold Penguin will be able to leverage the scale ... Read the full article
Gallagher to acquire specialist UK broker Bollington
13th January 2021
Global insurance broker Arthur J. Gallagher & Co. has signed an agreement to acquire 100% of The Bollington Wilson Group, a specialist UK broker. Bollington was founded in 1973 and has divisions in SME, micro-SME and personal lines. The business will become part of Gallagher's UK Retail Division and its CEO will remain with ... Read the full article
Royal Chartered Insurance to be acquired by IORC
12th January 2021
Royal Chartered Insurance has announced that it will be acquired by IORC Export & Credit Insurance Corporation. The insurer offers a range of products and services involving various classes of insurance, which have been designed and developed in collaboration with leading international insurance, reinsurance companies, and recognised banks. Royal Chartered Insurance works ... Read the full article
Alliant acquires employee benefit platform Vertus
12th January 2021
Alliant has acquired employee benefit platform Vertus in a bid to improve benefit schemes for its employees. The strategic acquisition adds a diverse profile of services and global benefits capabilities to the company’s current employee benefits group. Vertus provides a range of services which includes medical and RX, dental, life, disability, absence ... Read the full article