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.
Alliant announces Pend Oreille acquisition
5th March 2020
US specialty insurance broker Alliant Insurance Services has announced the acquisition of Pend Oreille Insurance. Based in Idaho, Pend Oreille is one of the area’s largest independent insurance agencies and is led by co-owners Stefanie Nostdahl and Jodie Corless. The company provides an array of regionally focused insurance solutions to its list ... Read the full article
Tokio Marine HCC to acquire renewable energy insurer GCube
4th March 2020
Tokio Marine HCC, a member of Tokio Marine Group, has announced the signing of a purchase agreement to acquire renewable energy risk specialist MGA, GCube. Specialist renewable energy insurer GCube is one of the largest underwriters of renewable energy, covering wind, solar, bio, hydro, wave, and tidal projects across the globe. The ... Read the full article
AJ Gallagher acquires NY-based insurance broker, CMS
4th March 2020
International insurance brokerage firm, Arthur J. Gallagher & Co. (AJG), has announced that it has acquired CMS, LLC, a New York-based full-service wholesale insurance broker. The terms of the transaction have not been disclosed but it has reported that Scott Charney, Rich Verdi, Michael Raab and their associates will remain in ... Read the full article
Covéa to acquire PartnerRe from EXOR for $9bn
4th March 2020
EXOR, the Agnelli family owned holding company, has reached an agreement with French insurance group Covéa over the sale of PartnerRe. The pair have entered into a Memorandum of Understanding (MoU) under which Covéa has agreed to acquire PartnerRe for a total cash consideration of $9 billion, plus a cash dividend ... Read the full article
Apollo doubles stake in Athene amid alignment push
3rd March 2020
Private equity firm Apollo Global Management has completed its purchase of a 17% incremental stake in retirement services firm Athene, bringing its beneficial ownership in the company to 34%. First announced in October 2019, this purchase came as part of a wider alignment push between the two companies that also ... Read the full article
H.W. Kaufman completes Barbican Protect acquisition
3rd March 2020
H.W. Kaufman Group, a global network of insurance companies, has completed its previously announced takeover of Barbican Protect Limited from Barbican Insurance Group, expanding its presence in the UK market. As announced in November of last year, Barbican Protect is to rebrand as Burns & Wilcox, a subsidiary of H.W. ... Read the full article
Barbados reinsurers Ocean Re & Energy Risk Re merge
2nd March 2020
Barbados-based reinsurers Ocean International Reinsurance Company Limited (Ocean Re) and Energy Risk Re (ERIRE) have completed a merger of their operations. The transaction has been executed after months of negotiations, with all necessary regulatory authorisations obtained back in December. ERIRE is now the major shareholder of the combined operations, following a multi-transactional ... Read the full article
Aon / WTW combination is possible but unlikely: KBW
28th February 2020
Analysts at Keefe, Bruyette & Woods (KBW) have said that a potential business combination between re/insurance brokers Aon and Willis Towers Watson (WTW) is “unlikely but not impossible.” Speculation about a possible merger deal between the two broking giants was sparked last week after WTW confirmed that it was exploring “strategic ... Read the full article
AXA LM acquires reinsurance portfolio from German unit
28th February 2020
AXA Liabilities Managers (AXA LM), a division of AXA and an acquirer and manager of legacy re/insurance business, has received regulatory approval for the acquisition of a legacy assumed treaty reinsurance portfolio from AXA Versicherung AG. German regulator BaFin gave the green light for AXA LM to move ahead with the ... Read the full article
IGI obtains final approvals for go-public Tiberius deal
26th February 2020
International General Insurance Holdings (IGI), the specialist commercial re/insurer, has obtained the final regulatory approvals it needs to move ahead with its planned business combination with Tiberius Acquisition Corp., which will result in the public listing of IGI. UK regulators the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) ... Read the full article
Life broker Reassured sells minority stake to fund growth plans
26th February 2020
UK life insurance broker Reassured has agreed to sell a minority stake to investor Bridgepoint Development Capital (BDC) in order to fund the future development of the business. The company said the transaction would allow it to focus on growth plans such as investment in new technologies and the development of ... Read the full article
WTW / Aon combination could require Willis Re sale: Analysts
25th February 2020
Analysts at Wells Fargo Securities have suggested that a potential combination with Aon could require Willis Towers Watson (WTW) to sell off its reinsurance arm, Willis Re. Speculation about a possible merger deal between the two broking giants was sparked last week after WTW confirmed that it was exploring “strategic ... Read the full article
IGI names new board
25th February 2020
International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has named the full board of directors that will be in place following its business combination with Tiberius Acquisition Corp. First announced back in October 2019, the deal priced IGI at approximately 1.26x its book value of ... Read the full article
Arch Capital acquiring 29.5% stake in trade-credit insurer Coface
25th February 2020
Arch Capital Group Ltd., the Bermuda headquartered insurance and reinsurance specialist, is acquiring a majority stake in France-based trade-credit insurance firm Coface. Arch Capital has entered into a share purchase agreement with French corporate and investment bank Natixis, which has been selling down its majority stake in Coface. The sale of shares ... Read the full article
Premia Re assumes risks from two Lloyd’s syndicates in Q4
25th February 2020
Bermuda-based property & casualty re/insurance run-off group Premia Holdings assumed risks from two Lloyd’s of London syndicates in the fourth quarter of 2019. The previously undisclosed deals were acknowledged by Kroll Bond Rating Agency (KBRA) in its recent assessment of the company, which had its financial strength rating confirmed as A-. The ... Read the full article