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.
DARAG wraps up Hallmark Financial deal, announces acquisition of Bermudian reinsurer
14th August 2020
Legacy acquirer DARAG, has announced that its North American division has closed a loss portfolio transfer transaction with Hallmark Financial Services within its newly established cornerstone North American insurer, DARAG Bermuda. DARAG Bermuda Ltd. and DARAG Insurance (Guernsey) Limited recently entered into the deal with American Hallmark Insurance Company of Texas, ... Read the full article
R&Q finalises NationsBuilders acquisition
13th August 2020
A statement has been released by Randall & Quilter Investment Holdings Ltd. (R&Q) disclosing the completion of its acquisition of NationsBuilders Insurance Company (NBIC). Back in June, R&Q declared that it was entering into a stock purchase agreement to acquire NationsBuilders Insurance Company. Paul Corver, Group Head of M&A at R&Q, ... Read the full article
Aon & Willis Towers Watson deal recommended by proxy advisors
11th August 2020
Proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. have recommended the shareholders of both Aon and Willis Towers Watson (WTW) to vote in favour of their combination. In an independent report dated August 7th, 2020 ISS found that "the strategic rationale is sound" and subsequently recommended ... Read the full article
AXA exploring sale of Singapore unit: reports
11th August 2020
Global insurer and reinsurer AXA is reportedly exploring options for selling its Singapore unit in a bid to raise funds, according to sources at Bloomberg. The publication says AXA is working with an advisor on a potential sale, with an eye to starting a sale process within the next few weeks. However, ... Read the full article
Costero acquires rival brokerage Prospect Insurance Brokers
11th August 2020
London-based, privately held broker, Costero Brokers Ltd., has announced the acquisition of Prospect Insurance Brokers, effective August 1st, 2020. Prospect was founded in 2010 and operates as an independent insurance and reinsurance broker at Lloyd's of London, with a specialist focus in binding authority, reinsurance and alternative risk transfer business placed ... Read the full article
Majesco to be acquired by Thoma Bravo
10th August 2020
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced that it has signed an amended definitive agreement to be acquired by Thoma Bravo in a transaction valuing the company at $729 million. This figure represents an increase from the initial $594 million valuation when the ... Read the full article
Arthur J Gallagher announces acquisition of Insight
10th August 2020
Global insurance broker, Arthur J Gallagher & co. (AJG), has announced the acquisition of Insight Insurance & Risk Management Ltd. Insight is a retail insurance broker that was founded in 2013. They serve clients throughout Western Canada and has a diverse client base and offers particular expertise in serving the construction, ... Read the full article
R&Q to merge Sandell Re with MGA Tradesman Program Managers
10th August 2020
Randall & Quilter Investment Holdings plans to merge its wholly owned subsidiary, Sandell Re, with Tradesman Program Managers in return for a 35% interest in the combined entity. The initial book value of R&Q’s interest in the combined business will be $43.4 million, which is equal to the estimated book value ... Read the full article
DARAG acquires auto & travel insurer Arisa
10th August 2020
Legacy acquirer, DARAG Group Limited has announced the acquisition of Arisa Assurances SA. Arisa is an automobile and travel insurance company based in Luxembourg and is a subsidiary of ADAC Versicherung AG. The transaction will be conducted through DARAG’s German risk carrier, DARAG Deutsche Versicherungs- und Rückversicherungs-AG, and remains subject to regulatory ... Read the full article
Aston Lark announces acquisition of Lloyd’s broker Incepta
7th August 2020
Aston Lark, the Chartered insurance broker backed by Goldman Sachs, has announced the acquisition of Incepta Risk Management. Incepta is an established Lloyd’s broker offering solutions to clients and customers, direct and wholesale, with an appetite for UK commercial business developed through successful underwriting binders as well as effective open market ... Read the full article
Third Point Re & Sirius Group to combine in $788mn transaction
7th August 2020
Bermuda-based reinsurer, Third Point Reinsurance Ltd, has entered into a definitive agreement to combine in a cash and stock transaction with international multi-line re/insurer, Sirius Group. The deal is valued at around $788 million and will see the establishment of a global company with $3.3 billion of tangible capital, to be ... Read the full article
AXA’s sale of its Life Europe platform to Cinven falls through
6th August 2020
AXA has agreed to terminate its previously announced sale agreement with private equity firm Cinven, which would have seen the insurer offload its AXA Life Europe (ALE) business for €1.2 billion (US $1.4 billion). Alongside the release of its Q2 results, AXA said that certain closing conditions for the ... Read the full article
Hastings Group agrees to cash acquisition offer
5th August 2020
UK-based property and casualty (P&C) insurer, Hastings Group Holdings plc, has received a recommended cash offer from Sampo Oyj and Rand Merchant Investment Holdings Limited (RMI) to acquire all of its issued and to be issued shares not currently owned or controlled by the pair. Towards the end of July, Hastings ... Read the full article
Aon & WTW disclose more on combination to fend off legal challenges
4th August 2020
In an effort to ward off legal challenges delaying Aon's combination with Willis Towers Watson (WTW), the global re/insurance broker has disclosed some additional details associated with the deal. After weeks of speculation, Aon confirmed in March of this year that it will combine with rival broker WTW through a ... Read the full article
Munich Re’s ERGO gets green light for Taishan investment
4th August 2020
The European Commission has approved a strategic investment by ERGO, the primary insurance arm of reinsurer Munich Re, in Shandong-based nationwide property and casualty (P&C) insurer, Taishan Property & Casualty Insurance Co., Ltd. As we wrote in early June, ERGO announced plans to bolster its P&C services in the Chinese ... Read the full article