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.
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
Venbrook bolsters E&S portfolio with acquisition of Alpharetta Underwriters
10th November 2021
Venbrook Group, LLC, a large independent insurance distribution and services firm in the U.S., has acquired Georgia-based specialty managing general agent (MGA), Alpharetta Underwriters, LLC. From its headquarters in Alpharetta, Georgia, the MGA provides tailored Excess & Surplus (E&S) solutions to the construction space. Alpharetta's team has more than 70 years of ... Read the full article
Lemonade to acquire Metromile as auto insurer’s valuation falls to $500m
9th November 2021
AI-powered insurtech Lemonade has entered into a definitive agreement to acquire pay-per-mile auto insurer, Metromile Inc., in an all-stock transaction that implies a fully diluted equity value of roughly USD 500 million, or just over USD 200 million net of cash. In late November 2020, it was revealed that Metromile ... Read the full article
Marsh McLennan Agency acquires Pelnik Insurance
8th November 2021
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has acquired Pelnik Insurance, an independent agency in North Carolina. Founded in 1994, Pelnik Insurance, led by CEO Chris Pelnik, offers business insurance, employee health and benefits, and private client services to midsize businesses and individuals throughout the Mid-Atlantic. Pelnik has 19 employees across ... Read the full article
Compre acquires SiriusPoint legacy portfolio for $417mn
8th November 2021
International specialist legacy group, Compre, has completed the acquisition of a $417 million legacy liability portfolio from SiriusPoint, having received all necessary regulatory approvals. The transaction, which was announced in August, structured as a loss portfolio transfer, has been underwritten by Compre’s class 3A Bermudian reinsurer, Pallas Reinsurance Company. The portfolio ... Read the full article
Concirrus completes acquisition of Spark Insights
4th November 2021
Insurtech firm Concirrus has completed its acquisition of Spark Insights, a provider of decision analytics to the insurance market. Spark Insights was founded in 2018 by A insurtech expert Ira Scharf with the aim of using AI, machine learning and computer vision combined with satellite-based remote sensing and global earth observations ... Read the full article
Generali seals takeover of rival Italian broker Cattolica
4th November 2021
Italian broker Generali has completed its acquisition of rival firm Cattolica in a previously-announced deal that’s intended to enable an eventual merging of the two organisations. Generali, already a significant shareholder, required a controlling stake in the firm in order to lay the regulatory groundwork for its merger plans. The consideration ... Read the full article
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