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.
Corvus Insurance acquires Wingman tech platform
9th August 2021
Boston-based insurtech firm Corvus Insurance has announced the acquisition of Wingman Insurance, which provides a tech platform for cyber and tech E&O coverage across the US. Wingman, which will retain its independent brand and offering following the acquisition, is expected to enable Corvus to enter the admitted coverage marketplace and increase ... Read the full article
Arch Re completes takeover of Somerset Bridge
6th August 2021
Arch Reinsurance Ltd., the specialty property and casualty reinsurance subsidiary of Bermuda-based Arch Capital Group Ltd., has announced the completion of its acquisition of Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates (Somerset). First announced in June 2021, the transaction includes Somerset’s motor managing general agent, distribution capabilities ... Read the full article
Aston Lark acquires Plester Group
6th August 2021
Aston Lark, the chartered insurance broker backed by Goldman Sachs, has announced the acquisition of Plester Group. Established in 1964 and based in Kidderminster, Plester is focused on the commercial and personal insurance market. “We’re delighted to welcome Justin and his team to Aston Lark, further strengthening our presence in the Midlands,” ... Read the full article
Jonathan Ritz named CEO of ProSight amid private equity takeover
5th August 2021
Jonathan Ritz has been named as Chief Executive Officer (CEO) of specialty insurer ProSight Global, following the acquisition of the company by investment management specialist TowerBrook Capital Partners and private equity firm Further Global Capital Management. TowerBrook and Further Global recently announced the completion of their takeover, having first agreed ... Read the full article
Moody’s to acquire RMS for $2bn
5th August 2021
Moody's has entered into an agreement to acquire catastrophe risk modelling firm RMS for approximately $2.0 billion from Daily Mail and General Trust. The acquisition will increase Moody’s insurance data and analytics business to nearly $500 million in revenue and will accelerate the development of the company’s global integrated risk capabilities ... Read the full article
Risk Strategies acquires Centric Actuarial Solutions
5th August 2021
Risk Strategies has acquired property and casualty actuarial consulting firm Centric Actuarial Solutions. Centric consults clients in a wide variety of industries to help understand and assess their cost of risk, with a focus on organisations employing alternative risk programs and approaches. Its clients include governmental entities, retail and restaurant businesses, self-insured ... Read the full article
Amwins acquires National Truck Underwriting Managers
5th August 2021
Amwins has acquired National Truck Underwriting Managers (NTUM), a truck insurance wholesaler offering access to primary liability, physical damage and motor truck cargo package policies. NTUM will join Amwins' Underwriting Division, and compliment the services of Amwins Transportation Underwriters and working in conjunction with trucking industry specialists within the firm's Brokerage ... Read the full article
McLarens acquires Canadian loss adjuster MGB Claims
4th August 2021
Insurance services provider McLarens is set to acquire MGB Claims, a complex commercial claims adjusting firm based in Canada. Headquartered in Toronto with additional employees in Calgary and Vancouver, MGB Claims’ team consists of 25 adjusters plus additional support personnel. MGB Claims focuses on large and complex claims in Canada and the ... Read the full article
BRP Group completes acquisitions of Founder Shield & Capital Group
4th August 2021
Independent insurance distribution firm BRP Group has announced that its subsidiary, Millennial Specialty Insurance (MSI), has completed its previously announced acquisitions of Founder Shield and The Capital Group. Founder Shield collectively refers to FounderShield LLC, AlphaRoot LLC, ReShield LLC and Scale Underwriting Services LLC, while The Capital Group refers to TCG ... Read the full article
WTW looking at strategic options for Willis Re, confirms CEO Haley
3rd August 2021
John Haley, the Chief Executive Officer (CEO) of global brokerage Willis Towers Watson (WTW), confirmed today that the company is conducting a review of strategic alternatives for its reinsurance arm, Willis Re. Back in May, it was announced that Gallagher had reached an agreement with Aon and WTW to acquire ... Read the full article
Beazley sells benefits business to Globe Life
3rd August 2021
Specialist insurer Beazley has sold its benefits business to Globe Life as the acquirer seeks to enhance its reach in the worksite marketplace. Beazley Benefits specialises in customised supplemental health solutions for the employee benefits market, with a product line that includes Supplemental Medical, Group Limited Indemnity, Critical Illness, Short Term ... Read the full article
Hippo merges with Reinvent in $550mn deal
2nd August 2021
Home insurance group Hippo has completed its previously announced merger with Reinvent Technology Partners Z, a publicly traded special purpose acquisition company. Chief Executive Officer and Co-Founder Assaf Wand, along with the current Hippo management team, will continue to lead the company. Hippo expects to receive more than $550 million in cash ... Read the full article
Aon could have closed WTW deal, but options unappealing: CEO Case
30th July 2021
Global insurance and reinsurance broker Aon could have completed its now terminated $30 billion combination with Willis Towers Watson (WTW), but the two options proposed to close the deal would have been damaging for the firm, according to its Chief Executive Officer (CEO), Greg Case. Aon released its second-quarter 2021 ... Read the full article
Gallagher views M&A a key growth engine despite Aon / WTW deal collapse
30th July 2021
Gallagher’s Chairman, President and Chief Executive Officer J. Patrick Gallagher, Jr. has underlined the broker’s commitment to mergers and acquisitions as a “proven strategic growth engine,” despite the breakdown of its deal with Aon to acquire chunks of rival Willis Towers Watson. His comments came alongside Gallagher’s quarterly results statement, ... Read the full article
Howden expands into Italy, launches start-up platform
29th July 2021
International insurance broker Howden has launched a new business in Italy following the acquisition of broker Andrea Scagliarini SpA (Scagliarini). Establishing operations in Italy is seen as vital to enabling the firm to expand in Europe, enabling them to deliver service to both local and multinational clients. The launch of Howden Italy ... Read the full article
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