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.
Arthur J. Gallagher to acquire Affiliated Benefit Consultants in Illinois
13th February 2020
Arthur J. Gallagher & Co. has announced the acquisition of Affiliated Benefit Consultants, Inc., a US provider of benefit consulting services. Affiliated Benefit Consultants was founded in 1986 and is based in Oakbrook, Illinois. Following the acquisition, President John Araujo and his associates will continue to operate in their current location. Going forward, ... Read the full article
DARAG bolsters UK presence with two acquisitions
12th February 2020
Legacy specialist DARAG Group Limited has completed its acquisition of The Underwriter Insurance Company Limited, and also its Sale and Purchase Agreement with One Re Ltd. Both transactions were completed via DARAG Deutsche Versicherungs- und Ruckversicherungs-AG, the legacy specialist's German operation. The Underwriter, which is a UK domiciled company that is in ... Read the full article
Insurtech firm Sapiens acquires sum.cumo
12th February 2020
Sapiens International Corporation, a global provider of software solutions for the re/insurance industry, has announced the completion of its acquisition of sum.cumo. sum.cumo is a German-based technology provider that offers digital solutions mainly to the insurance sector. The acquisition is expected to enable Sapiens to expand its footprint by offering its complete ... Read the full article
PartnerRe sale could reduce asset diversity for Exor: S&P
11th February 2020
Analysts at S&P Global Ratings have warned that Exor’s potential sale of Bermudian reinsurance firm PartnerRe could improve the company’s financial flexibility, but to the detriment of its asset diversity. Exor confirmed yesterday that it is in discussions with French insurance group Covéa regarding a deal that could see PartnerRe ... Read the full article
Tokio Marine completes $3.1bn acquisition of Pure Group
11th February 2020
Large Japanese property and casualty insurance group, Tokio Marine Holdings, Inc., has completed its previously announced acquisition of Privilege Underwriters, Inc. and its subsidiaries (Pure Group). It was announced in October of last year that Tokio Marine was set to acquire the US high net worth insurance specialist for $3.1 ... Read the full article
AXA confirms €1bn sale of Central European businesses
10th February 2020
French insurance and investment giant AXA has confirmed that it plans to sell its operations in Poland, Czech Republic and Slovakia to UNIQA Insurance Group AG for €1 billion. UNIQA had been pegged as one of three bidders in the running to secure AXA’s Central and Eastern European operations after Read the full article
Exor confirms talks with Covéa on rumoured $9bn PartnerRe sale
10th February 2020
Partner Re, the Bermuda-based reinsurance firm, is said to be the subject of discussions over a $9 billion potential sale between its current owner the Agnelli family-owned Exor and French insurance group Covéa. Already rumoured, Exor has now confirmed that PartnerRe is the subject of sale talks. The still rumoured price of ... Read the full article
IGI gains further approvals for public listing deal
7th February 2020
International General Insurance Holdings (IGI), the specialist commercial re/insurer, has gained further regulatory approvals for its planned business combination with Tiberius Acquisition Corp., which will result in the public listing of IGI. The Dubai Financial Services Authority is the latest regulator to give the transaction the green light, following approval ... Read the full article
Argo reaches agreement to sell Trident Public Risk Solutions to Paragon
7th February 2020
Argo Group International Holdings, Ltd. has announced that Paragon Insurance Holdings, LLC is to acquire its Trident Public Risk Solutions brand and underwriting platform. It's expected that the deal will complete in the coming months, and insurer and reinsurer Argo expects to report a pre-tax gain of around $37 million related ... Read the full article
Hub International acquires Canadian employee benefits firm, Benefex
6th February 2020
Global insurance brokerage, Hub International, has announced the acquisition of Alberta, Canada-based employee benefits and retirement consulting firm, Benefex Consulting Inc. Benefex has a specialised focus on group insurance programs, retirement, wellness solutions, and special risk coverage that addresses the unique requirement of clients. Currently, Benefex serves clients in British Columbia, Alberta, ... Read the full article
K2 to acquire Pioneer in first non-US transaction
4th February 2020
K2 Insurance Services LLC, a specialty insurance holdings company, is set to complete its first transaction outside of the U.S., with the acquisition of underwriting services firm, Pioneer Underwriters. According to an announcement on the deal, Pioneer is set to become the cornerstone for a new global platform of K2. Initially, this ... Read the full article
AXA LM acquires RenRe’s UK run-off business
4th February 2020
AXA Liabilities Managers (AXA LM), a division of AXA and an acquirer and manager of legacy re/insurance business, has announced an agreement to acquire RenaissanceRe (UK) Limited from Bermuda-based reinsurer, RenaissanceRe Holdings Ltd. RenaissanceRe (UK) Limited, a company in run-off, was formerly known as Tokio Millennium Re (UK) Limited, and ... Read the full article
Aon enhances cyber services with Cytelligence acquisition
4th February 2020
Re/insurance broker Aon has expanded its cyber offering with the acquisition of Cytelligence Inc, a Canadian-based cyber security firm that provides incident response advisory, digital forensic expertise, and security consulting and training services. The acquisition will help Aon expand its current coverages within the cyber market at a time when cyber ... Read the full article
Tokio Marine integrates Thailand unit with Safety Insurance
4th February 2020
Tokio Marine has announced the completion of the integration between its Thai subsidiary, Tokio Marine Insurance (Thailand) PCL. (TMITH), and Safety Insurance Public Company Limited. The combined company, which will officially launch as Tokio Marine Safety Insurance (Thailand) Public Company Limited' (TMSTH), has now received approval from the Office of Insurance ... Read the full article
Marsh & McLennan Agency acquires LA broker Momentous
3rd February 2020
Marsh & McLennan Agency LLC (MMA), the middle market agency of global re/insurance broker Marsh, has announced the acquisition of Momentous Insurance Brokerage, an independent insurance agency based in Los Angeles, California. Founded in 2008, Momentous is a risk management and employee benefits firm specialising in high net worth private client ... Read the full article