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.
Markerstudy to acquire BGL’s insurance arm for £400m: Report
3rd January 2022
UK motor insurance specialist Markerstudy is reported to be acquiring the insurance operations of BGL Group, which also owns price comparison giant Comparethemarket, in a deal worth £400 million. Sky News reported yesterday that Markerstudy is buying the BGL insurance operation with the support of a capital injection from its private ... Read the full article
Zurich frees $1.2bn of capital with sale of $9.5bn Italian life & pensions back book
3rd January 2022
Global insurer Zurich Insurance Group announced this morning that it is freeing up roughly US $1.2 billion of capital through the sale of its legacy Italian life and pensions book of policies. Zurich said that its subsidiary Zurich Investments Life S.p.A. is selling its life and pension back book, which includes ... Read the full article
AXA completes €690mn sale of Belgian banking operations
31st December 2021
French insurance giant AXA has sold 100% of its Belgian banking operations to cooperative bank Crelan for a total consideration of €690 million. The deal consists of €610 million in cash and the transfer to AXA Belgium of Crelan Insurance, the insurance company of Crelan valued at €80 million. In addition, AXA ... Read the full article
HSBC approved to take full ownership of HSBC Life China
31st December 2021
HSBC Holdings plc has underscored its commitment to expanding in China after its indirect wholly-owned subsidiary, HSBC Insurance (Asia) Limited, received approval from the Shanghai office of the China Banking and Insurance Regulatory Commission to acquire the remaining 50% stake in HSBC Life Insurance Company Limited (HSBC Life China). The approval ... Read the full article
SafePoint assumes Louisiana policies from insolvent insurers
30th December 2021
Florida-based property and casualty insurer SafePoint has been approved to takeover approximately 30,000 homeowners policies in Louisiana from two insurance firms that became insolvent following losses from Hurricane Ida earlier this year. Access Home Insurance Co. and State National Fire Insurance Co. were placed into receivership in November, throwing the coverage ... Read the full article
MAPFRE sells Bankia stake to Caixabank in €571m deal
30th December 2021
Spanish insurer MAPFRE has agreed to terminate its bancassurance agreement with Caixabank, following a change in ownership last year. The agreement sees MAPFRE sell its 51% stake Bankia’s insurance business in a deal worth €571 million, with the potential for an additional €52 million from an arbitration process. Caixabank, which took over ... Read the full article
The Ardonagh Group & Mphasis expand digital transformation efforts
30th December 2021
Building on their recently established relationship, The Ardonagh Group and Mphasis, an IT solutions provider specialising in cloud and cognitive services, have agreed to setup a shared service entity for middle and back-office functions while applying digital transformation. Last year, Mphasis entered into a deal with the Specialty Broking Segment of ... Read the full article
Premia targets European run-off growth, completes latest acquisition
29th December 2021
Bermuda domiciled reinsurance run-off group, Premia Holdings has completed the acquisition of Navigators Holdings (Europe) NV and its associated companies from The Hartford. The associated companies included in the acquisition are Assurances Continentales – Continentale Verzekeringen NV of Belgium and Canal Re S.A. of Luxembourg, known collectively as ASCO, both of ... Read the full article
DARAG to acquire Texas-based insurer
29th December 2021
Legacy acquirer DARAG Group has entered into a new agreement to purchase a Texas-based insurer in run-off. DARAG will look to use this insurer as its key US-based carrier to assume previously self-insured risk and other third-party legacy portfolios requiring licensed paper. The transaction, which has received regulatory approval, will also relieve ... Read the full article
Velocity Risk MGA majority stake sold to Oaktree by Nephila
28th December 2021
Nephila Capital, the Markel-owned and largest insurance-linked securities (ILS) fund manager in the market today, has sold a majority shareholding in its managing general agency (MGA) Velocity Risk to private equity and alternatives investor Oaktree Capital Management. Funds under Oaktree's management have acquired the majority of the MGA, leaving Nephila Capital ... Read the full article
The Ardonagh Group acquires Portuguese Lloyd’s broker MDS
24th December 2021
The Ardonagh Group is set to acquire Porto, Portugal-based insurance broker and risk management advisor, MDS Group, through a combination of equity and debt via Ardonagh Overseas Investments Ltd and operate as part of Ardonagh Global Partners. As well as its headquarters in Porto, MDS has offices in Brazil, where it ... Read the full article
VIG and Hungary agree to cooperate on Aegon/Union
23rd December 2021
Vienna Insurance Group (VIG) has reached an agreement with the Hungarian government on the principles of a cooperation and the further course of action regarding insurers Aegon and Union Vienna Insurance Group Biztosító Zrt. Back in September, VIG's proposed acquisition of Aegon’s businesses in Central and Eastern Europe was blocked ... Read the full article
Acrisure acquires the MGA and TPA operations of SUNZ Insurance
23rd December 2021
Acrisure, a fintech company that operates as a global insurance broker, has acquired the Managing General Agency (MGA) and Third-Party Administrator (TPA) operations of SUNZ Insurance, a specialist provider of workers' compensation insurance. Through the acquisition, Acrisure has purchased Next Level Administrators; Watchpoint; Ascential Care partners; Avalon; and Accelevant Premium Audit. For ... Read the full article
Marsh raises stake in Marsh India to 92%
23rd December 2021
Marsh, the global insurance broker, has announced an increase in its shareholding in Marsh India Insurance Brokers Pvt. Ltd. from 49% to 92%, following the acquisition of shares from local partners, including the entire shareholding of the Rampant Trust. The increased investment enables Marsh to more effectively meet the complex needs ... Read the full article
Helios acquires three LLVs, securing syndicate capacity of £4.1m
23rd December 2021
Helios, an investment vehicle that acquires and consolidates underwriting capacity at the specialist Lloyd's insurance and reinsurance marketplace, has completed a further three LLV acquisitions. Combined, the three vehicles have been acquired for a total cash consideration of £3.9 million, acquiring syndicate capacity of £4.1 million. The LLV's purchased include Kunduz LLP ... Read the full article
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