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.
UK competition authority clears Gallagher acquisition of Willis Re
22nd November 2021
The UK’s Competition and Markets Authority (CMA) said this morning that it has ended its investigation into and cleared Arthur J. Gallagher & Co's (Gallagher) planned acquisition of the Willis Re treaty reinsurance business. The investigation has been ended as the CMA has decided now further action is required and said ... Read the full article
Industry uncertainty throws doubt over future of mega-M&A
18th November 2021
Despite having become an increasingly common feature of the insurance and reinsurance landscape in recent years, the industry's perception of mega-M&A moving forward appears to be one categorised by uncertainty; influenced by an awareness of heightened competition and anti-trust concerns. The results of our H2 2021 Reinsurance Market Survey, held ... Read the full article
Helios acquires 2% stake in Lloyd’s LLV as capacity quest continues
18th November 2021
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired a 2% shareholding in a holding company of a group of Limited Liability Vehicles (LLV). The company announced in August its intention to bulk up its capacity using high quality syndicates at the historic insurance and reinsurance marketplace. As a ... Read the full article
Helios acquires LLV Queensbury Underwriting
18th November 2021
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced the competition of a further limited liability vehicle (LLV) acquisition. Queensberry Underwriting Limited was acquired for a cash consideration of £800,000. It will provide Helios with further syndicate capacity of £2.2 million. This time last month, Helios confirmed that it had ... Read the full article
Fairfax to offload 10% of Odyssey Group in $900mn-rated deal
17th November 2021
Property and Casualty re/insurance holding company Fairfax Financial has entered into a $900 million agreement to offload a 9.99% interest in Odyssey Group, its US re/insurance subsidiary. The transaction will be achieved via a sale of securities to affiliate CPPIB Credit Investments and OMERS, a defined benefit pension plan for Ontario’s municipal sector employees. ... Read the full article
Westfield Specialty to acquire Argo’s Property, Shared and Layered Business
17th November 2021
Westfield Specialty, a subsidiary of Westfield Insurance, has agreed to acquire the renewal rights of Argo Group’s US Property, Shared and Layered property business. Westfield Specialty will acquire renewal rights on all business at the start of next year. As a part of the transaction, Argo Group will continue to honour and ... Read the full article
Aston Lark acquires UK law enforcement insurer
17th November 2021
Aston Lark, the Goldman Sachs-backed insurance broker soon to be acquired by Howden, has announced the acquisition of Philip Williams & Company as the latest addition to the group. Philip Williams & Company was established in 1975 in Stockton Heath, Warrington and provides Group Insurance Schemes to the Police Federations and ... Read the full article
Willis Towers Watson to acquire Israeli broker Leaderim
16th November 2021
Willis Towers Watson (WTW) has announced plans to acquire Leaderim, an insurance broking and risk consultancy business in Israel. Leaderim maintains a team of 45 experts and offers a range of commercial insurance solutions to the Israeli market. The business was established over 20 years ago and has experience in multinational risk ... Read the full article
Aston Lark acquires Innovation Broking
15th November 2021
Aston Lark Group, the Goldman Sachs-backed insurance broker soon to be acquired by Howden, has announced the acquisition of Innovation Broking, based in London and Watford. Established in 2015, Innovation Broking is an independent corporate insurance broker and employee benefits adviser that was founded by Paul Dickson and Howard Pearson. The company ... Read the full article
RSA and Intact integrate specialty teams
15th November 2021
RSA’s London Market and European specialty lines teams will integrate with Intact’s global specialty team in order to strengthen both brands’ customer offering and standing in the international market. Following Intact’s acquisition of RSA’s UK & International business earlier this year, teams from both firms will develop an integrated global ... Read the full article
Zurich acquires Special Insurance Services in Texas
12th November 2021
Zurich American Insurance Company has signed an agreement to acquire Special Insurance Services, Inc. (SIS), a Texas-based program manager whose offerings include gap medical and occupational accident insurance products. ZAIC's Accident and Health products for employers and other groups include voluntary benefits, travel insurance and assistance, gap medical, medical stop-loss, occupational ... Read the full article
Xenia acquires Parker Norfolk & Partners’ financial and specialty risk teams
12th November 2021
Xenia Broking Group (Xenia) has acquired the whole turnover trade credit and financial and specialty risk teams from specialist Lloyd’s insurance broker Parker Norfolk & Partners. The transaction marks Xenia’s sixth acquisition to date, and brings two high quality business units together with five experienced brokers into the Xenia Group, ensuring ... Read the full article
R&Q seeks to add takeover provisions to bye-laws, sparking rumours
12th November 2021
Randall & Quilter Investment Holdings Ltd. (R&Q), the non-life legacy and run-off insurance, programme management and investments specialist, is seeking shareholder approval to amend its Bye-laws to add certain takeover provisions that it says will protect shareholders. It's particularly interesting, as it has sparked discussion among sources that R&Q has been ... Read the full article
Global Indemnity sells specialty property business to K2
11th November 2021
Property and casualty insurer Global Indemnity Group (GBLI) has sold its American Reliable specialty residential property business to specialty MGA K2 Insurance Services. Following the sale, K2 will transfer and renew the American Reliable specialty residential property business, which will be underwritten by Homesite Group, a subsidiary of American Family Mutual ... Read the full article
Hannover Re sheds stake in HDI as firm underlines ‘pure reinsurer’ focus
11th November 2021
Global reinsurer Hannover Re has announced the sale of its 49.8% stake in joint venture HDI Global Specialty SE to majority shareholder HDI Global SE. The deal underscores Hannover Re’s overarching ambition of repositioning itself as a pure reinsurer. Concurrently, the sale is seen as a way to free up capital for ... Read the full article
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