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.
AUB to acquire Tysers for £500m
9th May 2022
AUB Group, an Australia equity-based insurance broker network, has confirmed that it has reached an agreement to acquire wholesale broker Tysers from its current owner, Odyssey Investment Partners, for a sale price of AUD $880 million (GBP 500 million). Last month, AUB maintained that it was still in discussions over ... Read the full article
WTW appoints new CRB Regional Leader as it further commits to growing M&A Practice
9th May 2022
Re/insurance broker WTW has appointed Steven Reiss to lead the company’s Northeast region for Corporate Risk & Broking (CRB). Reiss will transition from his current role as the CRB head for Philadelphia, where he has delivered transformational growth across the greater Philadelphia market since joining in 2018, as well as establishing ... Read the full article
Argo exploring options including sale and merger
28th April 2022
Argo has said its board of directors has begun to explore ‘strategic alternatives’ including a potential sale, merger, or other strategic transaction. The board also announced the postponement of Argo’s 2022 annual general meeting of shareholders until the second half of this year. The board believes it is in the best ... Read the full article
Arthur J. Gallagher acquires G.A, Mavon & Co.
21st April 2022
Global insurance broker, Arthur J. Gallagher & Co. has announced the acquisition of G.A, Mavon & Co. and its Mavco Insurance Agency, Inc. subsidiary. Terms of the transaction were not disclosed. Founded in 1916, G.A. Mavon & Co. is a fourth generation, family-run, standard and specialty lines wholesale broker. It’s retail insurance ... Read the full article
ProSight rebrands as Coaction Specialty
21st April 2022
Privately-owned specialty property & casualty (P&C) insurer, ProSight Global, Inc. (ProSight) has announced that it has rebranded as Coaction Specialty – a wholly-owned subsidiary of Coaction Global, Inc. (Coaction), effective immediately. As part of the rebrand, and demonstrating its commitment to addressing Environmental, Social, and Governance (ESG) issues, Coaction has also ... Read the full article
European Commission clears path for Covéa to acquire PartnerRe
19th April 2022
The European Commission has cleared the way for Covéa to acquire PartnerRe. The deal, which has been valued at $9bn, has been in the works since last year. Back in October, EXOR and Covéa signed a memorandum of understanding that the former would sell the reinsurer in its entirety to ... Read the full article
Alleghany confirms end of “go-shop” period under Berkshire merger agreement
19th April 2022
The "go-shop" period under the merger agreement between Alleghany Corporation and Berkshire Hathaway has now ended, meaning the former is now bound by customary "no-shop" restrictions under the definitive merger agreement. Under the terms of the arrangement, Alleghany and its representatives were allowed to solicit and consider alternative acquisition proposals from ... Read the full article
Fosun’s AmeriTrust to be acquired by AF Group
14th April 2022
Global specialty re/insurer AF Group has entered into a definitive agreement through its subsidiary, Accident Fund Insurance Company of America, to purchase AmeriTrust Group from Fosun. Investment banking and reinsurance brokerage, Stonybrook Capital acted as advisors for AF Group during the acquisition, whilst Deutsche Bank were advisors for Fosun. In a press ... Read the full article
One80 acquires Seacoast Speciality Administrators
13th April 2022
Specialty insurance broker, One80 Intermediaries has announced that it has acquired Seacoast Specialty Administrators – a New York based wholesale broker and program manager that specialises in the commercial marine industry. Seacoast was established in 1997 and is a family owned and operated business that specialises in commercial marine risks such ... Read the full article
Xenia Broking takes majority stake in Hong Kong-based Capstone
13th April 2022
Xenia Broking Group Limited, the credit insurance and surety specialist, has acquired a majority stake in Hong Kong-based insurance broker, Capstone Insurance Brokers Limited - its ninth acquisition in three years. The takeover of Capstone Insurance Brokers marks the beginning of Xenia's international expansion and broadens the group's product offering into ... Read the full article
Munich Re to buy Clareto
13th April 2022
Munich Re Life US, part of the global reinsurer, has signalled its intent to buy medical record firm Clareto. The reinsurance giant said it had signed a definitive agreement to acquire the firm, which has partnerships with over 25 health information exchanges and electronic health record software vendors. Munich Re said in ... Read the full article
Victor steps into reinsurance with Regional Treaty Services acquisition
13th April 2022
Victor, a global managing general underwriter (MGU), has acquired the business of Regional Treaty Services Corporation (RTSC), a privately held reinsurance MGU. Founded in 2003, RTSC underwrites and manages three reinsurance facilities for small to midsize US-based insurers primarily writing personal lines, small agriculture, and main street commercial business. John Pfautz, founder ... Read the full article
KKR invests in Shriram General Insurance Company
13th April 2022
Global investment firm, KKR and Shriram General Insurance Company (SGI) have announced the signing of definitive agreements under which, subject to the receipt of the necessary regulatory approvals, KKR will acquire a 9.99% stake in SGI. KKR’s investment will help position SGI for continued growth in India’s fast-growing general insurance industry. Founded ... Read the full article
Distinguished Programs gets majority investment from Aquiline
12th April 2022
Independent program manager Distinguished Programs has entered into a definitive agreement for private investment firm Aquiline Capital Partners (Aquiline) to acquire a majority stake in the company and has announced senior leadership changes. Aquiline is based in New York and London with $7.5 billion in assets under management, and has not ... Read the full article
UPC plans to consolidate its four Florida domiciled insurance carriers
12th April 2022
United Insurance Holdings Corp. (UPC Insurance), the Florida-headquartered property and casualty (P&C) insurer, has announced a proposed reorganisation plan to consolidate its four Florida domiciled insurance carriers into three, creating a more efficient operating structure going forward. The company is currently seeking regulatory approval to merge Journey Insurance Company into American ... Read the full article
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