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.
Enstar’s latest Watford bid could lead to a “Superior Proposal”
20th October 2020
The unsolicited, non-binding proposal from Enstar Group Limited to acquire the common shares of Watford Holdings Ltd. could reasonably be expected to lead to a "Superior Proposal" as defined in Watford's merger agreement with Arch Capital Group Ltd., according to the firm's Board of Directors. On October 15th, legacy acquirer ... Read the full article
DARAG sells active Italian business to NOBIS
16th October 2020
Legacy acquirer DARAG Group has revealed plans to sell the Going Concern business from its Italian arm, DARAG Italia, to NOBIS Compagnia di Assicurazioni (NOBIS). DARAG is looking to streamline its operations, and says the sale of this non-legacy business will help it to focus exclusively on providing better legacy solutions. Following ... Read the full article
AXA wraps up €1bn sale of Central European businesses
16th October 2020
Insurance and investment giant AXA has completed the sale of its life & savings, property & casualty and pension businesses in Poland, Czech Republic and Slovakia to UNIQA Insurance Group for €1 billion. UNIQA had been pegged as one of three bidders in the running to secure AXA’s Central and Eastern ... Read the full article
Enstar ups bid for Watford to $686mn, threatens legal action over Arch deal
15th October 2020
Legacy acquirer Enstar has written to the board of Watford Holdings offering a revised acquisition offer of $686 million, as well as strongly criticising its handling of previous takeover attempts and subsequent agreement with Arch. It was confirmed earlier this week that Arch had reached an agreement with Watford to ... Read the full article
Cohen & Co’s IAC completes merger with Shift Technologies
15th October 2020
Insurance Acquisition Corp. (IAC), a subsidiary of Cohen & Company Inc., has completed its previously announced merger agreement with automotive e-commerce firm, Shift Technologies Inc. The business combination, which was approved on October 13th by INSU’s stockholders, provides Shift with approximately $300 million, net of fees and expenses. Shift is an ... Read the full article
Brown & Brown announces two acquisitions
14th October 2020
Re/insurers, Brown & Brown Insurance has announced the acquisition of all of the assets of Bright & Associates, as well as finalising the acquisition of Vehicle Administrative Services, (VAS). Bright & Associates is an independent sales and service organisation providing F&I products and sales support to the automotive, marine, power ... Read the full article
Howden to acquire majority stake in Mexican broker ADRISA
13th October 2020
International insurance broker Howden is set to acquire a majority stake in ADRISA, a Mexico-based retail insurance broker. The deal will see the two companies merge, with Jose Luis Ordás becoming Executive Chairman and Luis Suarez de Lezo Chief Executive Officer of the combined group. The combination will create the largest independent ... Read the full article
Zurich to acquire HealthLogix & HealthInsite
13th October 2020
Zurich Insurance Group has announced that it is set to acquire digital health and wellbeing service providers, HealthLogix in Australia and HealthInsite in South Africa, to further expand its Zurich LiveWell health and wellbeing operation. The companies, jointly known as HLX, will be acquired from the founders. They offer customers a ... Read the full article
Fleming Re acquires Bermuda captive Sinclair
12th October 2020
Run-off reinsurance provider Fleming Re has agreed to acquire Sinclair Insurance Company, a Bermuda domiciled captive insurance company. Sinclair was utilized to provide reinsurance to the primary insurers of certain casualty risks of affiliated companies. The acquisition provides the shareholders of Sinclair with an exit solution allowing legal finality, elimination of operating ... Read the full article
AccuRisk sets up ancillary unit, acquires Texan business
9th October 2020
AccuRisk Solutions, a managing general underwriter (MGU) focused on employee and health insurance benefits, has set up a new ancillary unit and acquired the renewal rights to Great American Insurance Group’s book of Texas non-subscription business. The new ancillary unit, called, AccuRisk Ancillary Solutions, which will be led by Joyce Segall ... Read the full article
Arch to buy Watford Re in $622mn deal
9th October 2020
Bermuda-based insurer and reinsurer, Arch Capital Group Ltd., has entered into a definitive agreement to acquire all the common shares of total return reinsurer, Watford Holdings Ltd., in an all-cash transaction valued at roughly $622 million. The deal is expected to close in the first-quarter of next year, following which, Watford ... Read the full article
Aegon to offload Stonebridge for £60mn
9th October 2020
Aegon, a provider of life insurance, pensions and asset management, has announced the sale of Stonebridge, a UK-based provider of accident insurance products, for £60 million. The acquirer is London-headquartered Global Premium Holdings group, a subsidiary of Embignell group that provides a range of accident and sickness insurance policies. Stonebridge is a direct-to-consumer ... Read the full article
AM Best places F&G Re under review following Aspida acquisition
8th October 2020
AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of F&G Re. The rating change comes after parent F&G and US title insurer Fidelity reached an agreement to sell F&G Re to Aspida Holdings, an ... Read the full article
Markel to consolidate property cat reinsurance business under Nephila
7th October 2020
Financial holding company Markel is set to consolidate its property catastrophe reinsurance business under the Nephila brand. The consolidation will see Markel refocus its global reinsurance unit towards underwriting and growing its casualty and specialty lines. While some of the unit's employees may have the opportunity to join the Nephila team, Markel ... Read the full article
BDO USA takes over property claims team at Quantum Global Advisors
7th October 2020
US accounting and advisory firm BDO USA has strengthened its property claims services with the addition of 28 professionals from Quantum Global Advisors, an international insurance claim and valuation consulting practice headquartered in Chicago. The combination with Quantum, which is set for completion on October 16th, is expected to significantly boost ... Read the full article