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.
Alleghany gets stockholder approval for Berkshire takeover
9th June 2022
Alleghany Corporation has received approval from its stockholders for a pending acquisition by Warren Buffett’s insurance and reinsurance firm, Berkshire Hathaway. Stockholders approved transaction terms that value Alleghany at $848.02 per share of common stock in cash, with the deal representing a total equity value of approximately $11.6 billion. All told, ... Read the full article
Howden acquires TigerRisk, creating “much-needed” fourth global reinsurance broker
9th June 2022
Howden Group Holdings is set to enhance the scale and depth of its reinsurance and capital markets offering with the acquisition of broker, TigerRisk Partners. The deal, which remains subject to regulatory approvals, represents almost $400 million of combined reinsurance revenues and provides clients with access to 450 experts across over ... Read the full article
Charles Taylor acquires Peru loss adjuster Herrera DKP
8th June 2022
Charles Taylor Adjusting, a provider of claims solutions to the global insurance market, has acquired Peru-based Herrera DKP, a loss adjusting firm for the Latin American market. Founded in 1990, Herrera DKP offers services and claims management expertise across Fire and related lines, Engineering Insurance, Civil Liability, General Risks as well ... Read the full article
Marsh McLennan Agency acquires independent agency Clark Insurance
7th June 2022
Marsh McLennan Agency (MMA), the US middle market subsidiary of global insurance broker Marsh, has announced the acquisition of Maine-based Clark Insurance, a leading independent agency. Founded in 1913, Clark Insurance, led by president Jeff Shaw, provides business insurance, employee health and benefits, and private client services to businesses and individuals ... Read the full article
One80 grows emergency services capabilities with VFIS of North Carolina takeover
7th June 2022
Specialty insurance broker, One80 has entered into an agreement to acquire VFIS of North Carolina – an independent producer and Regional Director for VFIS. Terms of the deal were not disclosed. VFIS, formerly known as Volunteer Firemen’s Insurance Services is a wholly owned division of Glatfelter Insurance Group, a leading Managing General ... Read the full article
Investment firm Aquarian takes majority stake in Somerset Re
6th June 2022
New York domiciled investment firm, Aquarian Holdings, has said in a statement that it has agreed to purchase a controlling interest in Bermuda-based reinsurer, Somerset Reinsurance, from shareholders. Terms of the transaction were not disclosed, and it's understood that the deal is expected to close in the third quarter of this ... Read the full article
Allianz offloads majority stake in Russian operations
6th June 2022
The Allianz Group has agreed to sell a majority stake in its Russian operations to LLC, the owner of Russian property and casualty (P&C) insurer Zetta Insurance. The move, which follows Allianz’s decision to scale back its operations in Russia, is aimed at “ensuring continuity for clients and employees,” the company ... Read the full article
R&Q shareholders reject acquisition, capital raise to proceed
26th May 2022
Shareholders of Randall & Quilter Investment Holdings Ltd (R&Q) have again rejected an acquisition of the company by Brickell PC Insurance Holdings LLC, which is backed by 777 Partners, but have instead approved plans to focus on a $100m+ capital raise. R&Q failed to gain shareholder approval for the acquisition ... Read the full article
Brookfield Reinsurance acquires American National for $5.1bn
25th May 2022
Brookfield Reinsurance has announced that it has completed its acquisition of American National in an all-cash transaction, valued at approximately $5.1 billion. Under the terms of the transaction, which was originally announced in August 2021, Brookfield Reinsurance acquired all issued and outstanding shares of American National Group, Inc, at a ... Read the full article
R&Q says 777 Partners backed Brickell pulling out of acquisition
25th May 2022
Randall & Quilter Investment Holdings Ltd (R&Q) has said this morning that Brickell PC Insurance Holdings LLC, which is backed by 777 Partners, has said it aims to terminate the acquisition agreement the pair were trying to implement. The deal, which was announced at the start of April, valued Randall ... Read the full article
Aegon sells stake in Spanish joint insurance venture
25th May 2022
Aegon has announced plans to sell its 50% stake in the Spanish insurance joint venture with Liberbank to Unicaja Banco, following a change of control in Liberbank after its merger with Unicaja Banco in 2021. The gross proceeds of the transaction amount to €177 million, representing 22 times 2021 operating result ... Read the full article
Zurich sells Russian business
23rd May 2022
Global insurer Zurich has agreed to sell its business in Russia to eleven of the unit’s team. The firm said that under its new owners, the business will operate independently under a different brand, while Zurich will no longer conduct business operations in Russia. The transaction will allow the new company to ... Read the full article
R&Q fails to get sufficient shareholder votes for acquisition at first attempt
20th May 2022
Shareholder voting on the proposed takeover of Randall & Quilter Investment Holdings Ltd (R&Q), the non-life global specialty insurance company focused on program management and legacy transactions, in a deal backed by investment group 777 Partners, has been adjourned as the company seeks to gain additional support for the deal. Today, ... Read the full article
MIB acquires APEXA
19th May 2022
MIB has acquired APEXA from Reinsurance Group of America. The company said it was buying the contracting and compliance service provider for life insurance advisors, MGAs, and carriers, expanding its portfolio of digital solutions and client base within Canada. APEXA's platform connects the Canadian life insurance carriers, MGAs, and advisors through ... Read the full article
Artex completes transition of ILS specialist Horseshoe
17th May 2022
Artex, re/insurance broker Gallagher's alternative risk solutions company, has now completed the rebranding of Horseshoe Insurance Services Holdings Ltd. following its acquisition of the company in late 2019. Announced in October 2019, Artex's agreement to acquire Horseshoe, a Bermuda-based provider of insurance management fund administration, advisory and corporate services to ... Read the full article
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