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.
R&Q acquires captive insurer ICDC
22nd March 2017
Randall & Quilter Investment Holdings (R&Q) has announced its acquisition of American Fortune 500 captive insurer, ICDC. ICDC reinsured its parent company for workers' compensation, commercial general liability, business auto liability, business auto physical damage and property risks. As of 31st December 2016 it had a total net asset value of $7.95 million, ... Read the full article
R&Q acquires Bermudian captive insurer, Linco Limited
21st March 2017
Randall & Quilter American Holdings Inc., the U.S. subsidiary of specialist non-life insurance investor, service provider and underwriting manager, Randall & Quilter Investment Holdings (R&Q), has announced the acquisition of Bermuda captive Linco Limited. Domiciled in Bermuda, Linco provided reinsurance protection to its shareholders for workers' compensation, general and automotive liability, and ... Read the full article
Hannover Re acquires Lloyd’s firm Argenta Holdings
20th March 2017
Hannover Re has agreed to acquire UK holding firm Argenta Holdings - the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd's syndicate Argenta Syndicate 2121. According to Argenta, Lloyd’s Syndicate 2121 has a stamp capacity for 2017 of £300 million. The firms ... Read the full article
Global re/insurance M&A activity forecast to increase: KPMG
20th March 2017
Financial advisory firm, KPMG, said insurance industry mergers and acquisitions could see a hike this year after 84% of companies surveyed said they had 1-3 M&As in the pipeline. Out of the 200 global insurance industry leader survey participants surveyed, one-third said adapting their business model to deal with the emerging ... Read the full article
M&A more expensive as Asian reinsurers seek diversification: Fitch
17th March 2017
M&A activity became more competitive last year, with valuation multiples shooting up as Chinese and Japanese reinsurers follow international earning diversification strategies, according to Fitch's newly released study on reinsurance market trends. Fitch said valuation multiples for M&A activity had risen last year to nearly 2.0x due to the influx of Asian ... Read the full article
Fairfax to pay more cash for Allied World
13th March 2017
Fairfax Financial Holdings Limited has exercised its option to increase the cash consideration element of its offer to acquire Allied World by $18 per ordinary share, which, combined with a $5 special dividend takes the cash consideration component of the offer to $28 per share. Fairfax and Allied World recently announced that ... Read the full article
Croatia Osiguranje receives approval to absorb reinsurer Croatia Lloyd
8th March 2017
Croatia domiciled insurance company, Croatia Osiguranje, has announced that it received approval to complete the takeover of local reinsurance entity Croatia Lloyd. The reinsurer has been operating in the region for more than 45 years and, following approval from HANFA, the region's financial services supervisory agency, Croatia Osiguranje can now complete its proposed transaction, and absorb ... Read the full article
J.C. Flowers & Co acquires UK General Insurance Group
6th March 2017
Investment firm J.C. Flowers & Co has announced plans to acquire British personal lines insurance provider UK General Insurance Group. Financial agreement terms are undisclosed, and the acquisition remains subject to regulatory change of control approval from the UK Financial Conduct Authority. UK General is a leading UK personal lines insurer, offering ... Read the full article
Enstar to sell Pavonia Life to Global Bankers Insurance Group for $120m
20th February 2017
Bermuda based insurance, reinsurance and run-off specialist Enstar Group has announced a $120m agreement to sell its Pavonia Holdings (US), Inc. subsidiary to an affiliate of Global Bankers Insurance Group for $120 million. Enstar originally acquired the Pavonia business, which includes Pavonia Life Insurance Company of Michigan, Pavonia Life Insurance Company of ... Read the full article
Aon to sell Benefits Admin & HR BPO platform to Blackstone
10th February 2017
Global insurance and reinsurance broker Aon has agreed to sell the Benefits Administration & HR Business Process Outsourcing (BPO) platform of its Aon Hewitt division to Blackstone, for up to $4.8 billion. The broker announced that it's signed a definitive agreement to sell the business units to investment giant Blackstone for ... Read the full article
Fairfax Financial heads to New Zealand with $197m Tower acquisition
9th February 2017
Prem Watsa's Fairfax Financial, which owns Brit Insurance and is in the process of acquiring re/insurer Allied World, is entering the New Zealand insurance market with the acquisition of Tower Insurance. Announced today, Fairfax Financial has made an all cash offer at $1.17 per share, so valuing the insurer at ... Read the full article
ACR completes acquisition of ACR Malaysia and ACR ReTakaful
2nd February 2017
Reinsurer ACR Capital Holdings today announced the completion of its acquisition of Asia Capital Reinsurance Malaysia and ACR ReTakaful Holdings. The acquisition will see ACR Malaysia and ACR ReTakaful, including operating entities ACR ReTakaful Berhad in Kuala Lumpur and ACR Re Takaful MEA B.S.C. in Bahrain, operate as wholly owned subsidiaries ... Read the full article
Munich Re seeking primary insurance acquisitions: Reports
2nd February 2017
Munich Re has said it’s interested in buying insurance companies with specialisations if prices drop, according to an interview with the firm's Chief Financial Officer (CFO) Joerg Schneider on Handelsblatt daily. The reinsurer’s CFO told Handelsblatt the company is; "open to large acquisitions but the prices simply haven’t been right in ... Read the full article
European re/insurers advised to focus on M&A consolidation: A.M. Best
31st January 2017
A.M. Best has named M&A activity as the main factor affecting Western European insurers and reinsurers credit ratings last year, and while this trend is expected to continue throughout 2017, the rating agency has recommended firms focus on consolidating gains. Despite tough market conditions of low investment yields and an increasingly ... Read the full article
OMERS to contribute $1 billion to Fairfax’s Allied World acquisition
27th January 2017
It's been confirmed that OMERS, Ontario’s municipal employees’ pension plan has agreed to contribute $1 billion to the acquisition of Allied World alongside Fairfax Financial. The contribution will see OMERS indirectly acquire approximately 21% of insurer and reinsurer Allied World's shares. Fairfax had announced mid-December it would purchase Allied World for $4.9 billion ... Read the full article
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