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.
Covéa’s $9bn acquisition of PartnerRe from Exor progresses
17th December 2021
EXOR, the Agnelli family owned investment and holding company and Covéa, a French mutual insurer, have now signed a definitive agreement for the sale of reinsurer PartnerRe to Covéa for $9 billion. It was announced in late October that renewed talks between the parties had led to a Memorandum of ... Read the full article
Zurich agrees to acquire AlphaChat
16th December 2021
Zurich Insurance Group (Zurich) has agreed to acquire Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation, to further enhance the Group’s digital capabilities. Founded in 2017, AlphaChat has built a messaging automation product capable of understanding natural language, authenticating users, providing personalised responses and executing ... Read the full article
Fairfax offloads 10% of Odyssey in $900mn deal
16th December 2021
Fairfax Financial has successfully sold a 4.995% slice of its subsidiary Odyssey Group to both CPPIB Credit Investments and OMERS, the defined benefit pension plan. Each will acquire a 4.995% interest in Odyssey through a new class of securities, for an aggregate cash purchase price of $900 million. CPPIB is a wholly-owned ... Read the full article
Risk Strategies acquires Fournier Group
15th December 2021
Specialty insurance brokerage and risk management firm, Risk Strategies, has acquired Fournier Group, a full-service commercial and personal lines retail insurance agency. Headquartered in Portland, Oregon, the firm is led by its President, Greg Kuhns who has helped the company build a regional reputation as an expert in the restaurant and ... Read the full article
Kin expands US reach with carrier takeover
15th December 2021
Kin Insurance, a direct-to-consumer homeowners insurance technology company, has greatly expanded its reach in the US market with the completion of its acquisition of an inactive insurance carrier that holds licenses in 43 states. For Kin, which currently operates in only Florida, Louisiana and California, the deal enables it to serve customers ... Read the full article
Ryan Specialty to acquire Keystone Risk Partners
14th December 2021
International specialty insurance firm Ryan Specialty Group, has signed a definitive agreement to acquire certain assets of Keystone Risk Partners, LLC based in Media, PA. Keystone generated approximately $8 million of revenue for the 12 months ended November 30, 2021. Terms of the transaction were not disclosed, although it is expected to ... Read the full article
Parthenon Capital to acquire majority stake in KBRA
13th December 2021
Kroll Bond Rating Agency (KBRA) has entered a deal with private equity firm Parthenon Capital Partners who will acquire a majority stake in the company. KBRA currently holds over 400 employees across its five offices in the U.S. and Europe. The company has issued over 51,000 ratings with nearly $3 trillion in ... Read the full article
Howden acquires Ross Insurance
13th December 2021
International insurance broker Howden has acquired Ross Insurance Group, a commercial broker servicing corporate and technology clients, as it continues to build out its UK business. Ross Insurance Group offers a broad range of product lines, with a particular focus on Financial and Construction risks, and manages complex global programmes for ... Read the full article
Swiss Re to sell elipsLife to Swiss Life International
10th December 2021
Swiss Re has announced plans to sell its life insurance subsidiary Elips Life AG (elipsLife) to Swiss Life International and to enter into a long-term reinsurance partnership for elipsLife’s in-force and new business. elipsLife is an insurance company for institutional clients such as pension funds, collective foundations, companies, and associations. The company ... Read the full article
AnaCap’s MRH Trowe acquires specialty broker Helmig & Partner
10th December 2021
AnaCap Financial Partners, a specialist private equity firm focused on investing in the European financial services sector, has announced that its portfolio company, MRH Trowe, has acquired Olfen-based speciality broker Helmig & Partner. The deal marks the 11th bolt-on acquisition of the year for MRH Trowe, which is itself an owner ... Read the full article
Marsh McLennan Agency acquires InSource
9th December 2021
Marsh McLennan Agency (MMA), a subsidiary of Marsh has acquired InSource Insurance Group, an independent agency in Texas. InSource Insurance Group was formed in 1986 to provide business insurance, employee health and benefits, private client, and surety services to the oil and gas, construction, manufacturing, and transportation industries. InSource will help lead ... Read the full article
BMS acquires reinsurance broker PWS Mexico
9th December 2021
Independent broking specialist BMS Group has announced further expansion plans in Latin America, having agreed to acquire PWS Mexico, a Mexico City-based specialist reinsurance broker. PWS Mexico was founded in 2000 and provides broking services to a range of Mexican clients, largely in Engineering, Energy, Property & Casualty and Specie, with ... Read the full article
Canada’s CPPIB pension to sell Ascot & Wilton Re stakes: Report
9th December 2021
According to a report, one of the larger pension investors that has a specialism in insurance and reinsurance markets, the Canada Pension Plan Investment Board (CPP Investments), is looking to sell two of its key investments in the space, Wilton Re and Ascot Group. Reuters has reported that the move marks ... Read the full article
Sampo acquires full ownership of Hastings
8th December 2021
Sampo has signed an agreement with Rand Merchant Investment Holdings (RMI) to acquire full ownership of UK insurer Hastings. Under the terms of the agreement, Sampo will pay GBP 685 million for RMI’s 30 per cent minority interest in Hastings and the option held by RMI to acquire 10 per cent ... Read the full article
Aston Lark acquires Choice Benefits’ client book
7th December 2021
Broker Aston Lark has acquired the client book of Private Medical Insurance specialist, Choice Benefits. The firm provides cover for both individuals and businesses and is described as having achieved recognition from clients via leading service and strong expertise in health insurance and employee benefits. “We’re delighted to welcome the clients of ... Read the full article
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