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.
American Financial Group buys software company Verikai
19th January 2022
American Financial Group has announced that it has bought machine learning company Verikai. The latter, which has reportedly developed a machine learning tool to help assess insurance risk, will continue to be led by Jeff Chen, its current president and CEO. Carl H. Lindner III, co-CEO of American Financial Group, said that ... Read the full article
Blackstone and Westland expands partnership deal
17th January 2022
Independent property and casualty (P&C) insurance broker Westland Insurance Group has expanded its partnership with Blackstone Credit (Blackstone). Since its initial investment a year ago, Blackstone has committed over $1.2 billion to support Westland’s growth, which has included a facility dedicated to funding the company’s acquisition strategy. The company has expanded into ... Read the full article
SRG agrees to acquire Bridge’s Special Risks team
14th January 2022
Specialist Risk Group (SRG) has agreed to acquire the London-based Special Risks team from Bridge Insurance. The team, led by Jonathan Starkey and David Walker, have years of combined experience in arranging insurance programmes for businesses operating in conflict-affected territories. This includes mine clearance, humanitarian assistance and disaster recovery. The team will join ... Read the full article
Xenia acquires trade credit & surety business from Tysers
13th January 2022
Credit insurance and surety specialist Xenia Broking Group has acquired the UK trade credit and surety business of Tysers Insurance Brokers (Tysers). The transaction was completed on 11th January and marks Xenia’s eighth acquisition to date and fifth in the last nine months, having acquired Peter Hill Credit & Financial ... Read the full article
Midwest sells majority of a reinsurance cell to ORIX Corp.
12th January 2022
Midwest Holding Inc., a technology-driven life and annuity platform, has sold a majority ownership of a consolidated reinsurance facility to a subsidiary of ORIX Corporation USA. Under the terms of the agreement, a subsidiary of ORIX USA purchased 70% of Seneca Incorporated Cell, LLC 2020-01 (SRC1), a Midwest consolidated reinsurance cell. Midwest ... Read the full article
UIM and Shield Indemnity merge to create new P&C holding company
12th January 2022
Universal Shield Insurance Group, Inc. has now launched, a new property and casualty (P&C) holding company formed following the merger of UIM Holding Company and its subsidiary, Universal Fire & Casualty Insurance Company, with Shield Indemnity, Inc. Universal Fire & Casualty Insurance Company is an admitted insurer and insurtech with a ... Read the full article
Swiss Re offloads remaining Phoenix stake for £440m
12th January 2022
Reinsurance giant Swiss Re has exited its shareholding in Phoenix Group Holdings by selling its remaining 66,199,917 ordinary shares in the savings and retirement company for approximately £440 million. Swiss Re sold the shares at a price of 664 pence per ordinary share, or 3.1% below yesterday's close, which valued the ... Read the full article
B.P. Marsh & Partners to sell Summa shares for €9.7mn
12th January 2022
Specialist early-stage investor B.P. Marsh & Partners has announced the sale of its entire 77.25% shareholding in Summa Insurance Brokerage (Summa), the Madrid based Spanish insurance broker consolidator, to Acrisure España, the Spanish subsidiary of the global financial services business. Upon completion, the group will receive €9,715,484 (£8,113,817), after all associated ... Read the full article
Helios secures syndicate capacity of £3.6m through latest acquisitions
11th January 2022
Helios, an investment vehicle that acquires and consolidates underwriting capacity at the Lloyd’s re/insurance marketplace, has acquired a further three LLVs for a consideration of £2.4 million. These acquisitions follow Helios' acquisition of three LLVs back in December, and see the firm acquire syndicate capacity of £3.6 million. Additionally, Helios says ... Read the full article
Acrisure grows tech platforms with Appalachian takeover
7th January 2022
Fintech firm Acrisure has announced the acquisition of Appalachian Underwriters, a U.S. Managing General Agency (MGA), and U.S. Administrator Claims, a Third-Party Administrator (TPA), in addition to affiliated entities. With a model that encompasses both an MGA and wholesale distribution, Appalachian places more than $400 million gross written premium (GWP) into ... Read the full article
Optio Group acquires Brockwell Capital
7th January 2022
Specialty MGA Optio Group has acquired Brockwell Capital, a Warranty & Indemnity MGA, for an undisclosed sum. The acquisition will boost Optio's expertise in the fields of tax liability and contingent liability and financial lines. Brockwell writes c. $40m (c.£30m) of GWP and is expected to continue its strong growth. All current Brockwell ... Read the full article
Swiss Re Corporate Solutions acquires TMS Re
7th January 2022
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has acquired TMS Re, an ESL managing general underwriter. The transaction includes TMS Re's operations, its team of experts and business portfolio, including new and renewal business. Through this arrangement, Swiss Re Corporate Solutions broadens its ESL capabilities in the ... Read the full article
Monument Re completes Athora Ireland acquisition
7th January 2022
Life re/insurance holding company Monument Re’s Irish subsidiary, Monument Life Insurance, has completed the acquisition of a closed-block portfolio of variable annuities from Athora Ireland, a wholly-owned subsidiary of Athora Holding. The acquisition was first announced in March last year, with the portfolio has been in run-off since 2017. Financial ... Read the full article
Corvus acquires cyber platform Tarian from Beat
6th January 2022
Beat Capital Partners, a long duration investor specialising in the insurance industry, has announced the sale of Tarian Underwriting to Corvus Insurance, a provider of smart commercial insurance products powered by AI-driven risk data. Established in 2016, Tarian is cyber underwriting platform that provides solutions to the cyber risk environment and ... Read the full article
Fortitude Re set for growth with launch of multi-line reinsurer & U.S. platform
6th January 2022
Fortitude Re has announced the formation of a new Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer, as its subsidiary obtains Reciprocal Jurisdiction Reinsurer status. Established in 2018 by international insurer AIG and global alternative asset manager, The Carlyle Group, Fortitude Re was originally set up to ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
