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.
OneBeacon acquires renewal rights for Brit Global Specialty USA portfolio
21st September 2020
OneBeacon Insurance Group, the brand for Intact Financial Corporation's U.S. insurance company subsidiaries, has announced the acquisition of the renewal rights to Brit Global Specialty USA's admitted 'First Dollar Package' Public Entity portfolio. The portfolio acquired in the transaction provides admitted coverage for cities, towns, villages, boroughs, water-sewer utilities and other ... Read the full article
Charles Taylor acquires engineering firm SBSA
21st September 2020
Technology solutions provider, Charles Taylor has announced that it has acquired engineering and architectural firm, Solutions Before Solutions After (SBSA). SBSA specialises in a number of products, including architectural, civil, and structural engineering, construction management, building envelope repair, performance testing, forensic analyses, and litigation support. Although the firm works primarily with clients ... Read the full article
Combined Aon / WTW to foster a new standard of client leadership & innovation
17th September 2020
The "once-in-a-generation" combination of global insurance and reinsurance brokers, Aon and Willis Towers Watson (WTW), will deliver distinctive client insight, advanced analytical capabilities, and superior outcomes, according to Greg Case, Chief Executive Officer (CEO) of Aon and John Haley, CEO of WTW. Following weeks of speculation, Aon confirmed back in ... Read the full article
Blenheim parent secures £80mn investment from Alchemy
17th September 2020
White Bear Capital, the parent company of Lloyd's syndicate Blenheim, is to receive an investment of £80 million from Alchemy Special Opportunities Fund IV, a closed private equity fund managed by Alchemy Partners. As part of the deal Alchemy will take a substantial stake in the group alongside the staff and existing investor ... Read the full article
Novacap announces acquisition of GroupAssur
17th September 2020
Canadian equity firm, Novacap has announced the acquisition of a majority interest in GroupAssur Inc. GroupAssur is a general agent that specialises in Property and Casualty insurance lines, offering insurance products across Canada. Headquartered in Montreal, GroupAssur provides insurance solutions to its country-wide network of Canadian brokers. Marcel Larochelle, Managing Partner, Financial Services ... Read the full article
CoreLogic rejects second takeover offer from Senator & Cannae
16th September 2020
Property information and analytics provider CoreLogic has rejected a second acquisition offer from investors Senator Investment Group LP and Cannae Holdings Inc. The two investors, who have been moving to replace CoreLogic’s Board following the rejection of their original proposal, revised their offer upwards from $65.00 to $66.00 per ... Read the full article
SRS acquires Dyna Management Services
16th September 2020
Strategic Risk Solutions (SRS) has announced that it will be acquiring the operations of Dyna Management Services Ltd. Dyna is an independently owned insurance management company headquartered in Bermuda. It’s been decided that all staff of Dyna will remain with the firm, including Terence Power, the current CEO and founder of Dyna, ... Read the full article
Aviva agrees to sell £1.6bn majority stake in Singapore business
14th September 2020
UK insurer Aviva has agreed to sell a majority stake in its Singapore business for £1.6 billion to a consortium led by insurtech Singlife. In Singapore, the new business will be initially branded as Aviva Singlife. The £1.6 billion Aviva will recieve includes £1.2 billion in cash and marketable securities, £143 million in ... Read the full article
Continental Re acquires 100% ownership of Botswana subsidiary
14th September 2020
Following its recent acquisition of a minority 40% stake in Continental Reinsurance Ltd (Botswana), Continental Reinsurance Plc now holds 100% of the issued ordinary share capital in the subsidiary. Continental Re says the acquisition entrenches its stature as a strong pan-African reinsurance brand and bolsters its commitment to delivering value to ... Read the full article
Third Point Re reaches agreement with Sirius shareholders
11th September 2020
Shareholders of Sirius International Insurance Group have agreed to remain as investors in the company following the completion of its merger with Bermuda-based reinsurer Third Point Reinsurance. First announced last month, the merger will see Sirius and Third Point Re combine into an entity called SiriusPoint Ltd, in a transaction ... Read the full article
Aston Lark acquires Lloyd’s broker Brunel Professions
11th September 2020
Chartered insurance broker Aston Lark has announced the acquisition of Lloyd’s broker Brunel Professions. Established in 2005, Brunel Professions specialises in PII, D&O and Cyber Insurance. The company also provides an in-house specialist claims handling and risk management service. Commenting on the acquisition, Peter Blanc, Aston Lark Group CEO, said, “I’m delighted to ... Read the full article
Empower in $3.3bn acquisition of MassMutual’s retirement plan business
9th September 2020
Empower Retirement is set to acquire the retirement plan business of mutual life insurer MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business will be supported by $1 billion of required capital when combined with Empower’s existing US business. Through ... Read the full article
Cohen & Company acquisition vehicle completes $230mn IPO
9th September 2020
Fixed income financial services specialist Cohen & Company has announced that INSU Acquisition Corp. II has completed its initial public offering (IPO), raising $230 million in the process. First announced back in July, INSU Acquisition Corp. II is a blank-check company sponsored by Cohen & Company, formed for the purpose ... Read the full article
Arch Capital eyeing $500m acquisition of Watford Holdings: reports
9th September 2020
A consortium led by Bermuda-based re/insurer Arch Capital Group has put forward a $500 million offer to buy Watford Holdings, according to reports from Reuters. After pre-warning of sizeable investment losses as a result of COVID-19-induced financial market volatility, Watford this year announced a first quarter loss of almost $267 million. As ... Read the full article
Chedid Capital takes over Ascoma broking operations in Africa
9th September 2020
Chedid Capital, an insurance and financial services provider that operates across the GCC and Middle east North Africa (MENA) regions, has announced that it plans to acquire the African business of international insurance broker, Ascoma Group. The company has come to an agreement with Ascoma’s owner, the Husson family, to transfer ... Read the full article