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.
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
Aon makes three appointments for UK M&A and Transaction Solutions team
14th July 2022
Leading global professional services firm, Aon plc has made three appointments for its M&A and Transaction Solutions team in the UK. Sam Bridges joins the firm’s Corporate M&A Coverage team as Director and brings more than 20 years of experience as an investment banking professional at J. P. Morgan. At the same ... Read the full article
United (UPC Insurance) exploring sale, merger, and other options
14th July 2022
The Board of property and casualty insurer, United Insurance Holdings Corp. (UPC Insurance), is undertaking a review of the firm's strategic and capital raising alternatives, which could lead to a sale or merger. According to UPC Insurance, the Board has now initiated the review and will explore a wide range of ... Read the full article
Specialty Program Group acquires ESP Insurance Brokerage
13th July 2022
Specialty Program Group, a specialty insurance brokerage, has acquired ESP Insurance Brokerage, a national insurance broker and program administrator for the sports, events and promotion marketing and entertainment industries. ESP offers US-wide coverage solutions, including athletic insurance for teams and leagues, tournaments, insurance for entertainment, leisure and sports facilities, event liability ... Read the full article
WTW announces acquisition of Butterwire
13th July 2022
Re/insurance broker WTW has announced the acquisition of Butterwire – a FinTech provider of data analytics, AI, and machine learning platforms. The acquisition will help to further strengthen WTW’s world-leadingcli capabilities in delivering climate risk analytics to organisations around the world. Butterwire’s team of research, data science and software engineering professionals offer ... Read the full article
Covéa completes deal to purchase PartnerRe from EXOR
13th July 2022
French mutual insurer Covéa has completed the acquisition of global reinsurer PartnerRe from EXOR, the Agnelli family owned investment and holding company, for a total cash consideration of $9.3 billion (€8.6bn). After signing a Memorandum of Understanding (MoU) in October 2021, after an initial deal was terminated in May ... Read the full article
PCF Insurance acquires P&C MGA United Underwriters
12th July 2022
US insurance brokerage firm PCF Insurance Services (PCF), has announced the acquisition of Utah-based property and casualty managing general agent (MGA) United Underwriters. Founded in 1998, United Underwriters offers 150-plus agencies across the Western United States property and casualty MGA services and programs These include homeowners, renters, dwelling, commercial, personal umbrella, earthquake, ... Read the full article
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