Mergers and Acquisitions News

Marsh to Acquire UK-Based Bluefin Insurance from AXA for $369.4M

Marsh announced it has reached agreement with AXA Group to acquire Bluefin Insurance Group Ltd., a subsidiary of AXA UK plc. The transaction, which is subject to regulatory approval, is expected to close in the first quarter of 2017. AXA …

AIG Agrees to Sell Japan Life Business to Hong Kong’s FWD Group

Hong Kong tycoon Richard Li is poised to buy American International Group Inc.’s Fuji Life Insurance Co. business, a deal that marks his FWD Group’s first foray into Japanese insurance. AIG will continue to offer property-casualty coverage in the Asian …

Argo Group to Acquire Ariel Re for $235M

Argo Group International Holdings Ltd., the Bermuda-based underwriter of specialty insurance and reinsurance products, announced it has entered an agreement to acquire Ariel Re, an underwriter of global re/insurance business, for approximately $235 million in cash. The acquisition, which is …

Arthur J. Gallagher Buys London-Based Employee Benefits Firm, Argentis

Arthur J. Gallagher & Co. announced the acquisition of Argentis, based in London, England. Terms of the transaction were not disclosed. Founded in 2005, Argentis is a financial planning and employee benefits consultant that provides benefit and wealth management services to private …

AmTrust Buys ANV Holdings for $203M – More Than Doubling Its Lloyd’s Presence

AmTrust Financial Services Inc. announced it has completed the acquisition of ANV Holdings B.V. and its affiliates from Ontario Teachers’ Pension Plan for approximately $203 million in cash. During the last 12 months ending September 30, 2016, ANV’s three managed …

NORCAL Mutual to Acquire Kansas-Based PPM Services

PPM Services, the holding company for Preferred Physicians Medical Risk Retention Group Inc. (PPM), has agreed to be acquired by NORCAL Mutual Insurance Co. (NORCAL). Based in Overland Park, Kan., PPM provides medical professional liability insurance for anesthesia practices. The …

Aspen Insurance Acquires Puerto Rico Marine MGA, Blue Waters Insurers

Bermuda-based Aspen Insurance, the insurance segment of Aspen Insurance Holdings, announced it has acquired Blue Waters Insurers Corp. Blue Waters, which is headquartered in San Juan, Puerto Rico, is a specialist marine managing general agency. The company was founded in …

Markel Buys Galleon Marine Insurance Agency, London-based MGA

Markel International has acquired Galleon Marine Insurance Agency, the London based MGA that specializes in marine professional indemnity and cargo liability business. Markel Capital Holdings today acquired the issued share capital of Galleon; details of the terms of the agreement …

PartnerRe to Buy Canada’s Aurigen Capital, in Life Reinsurance Push

PartnerRe Ltd., the reinsurer owned by John Elkann’s EXOR SpA, agreed to buy Aurigen Capital to expand in coverage of life policies in North America. PartnerRe agreed to pay C$375 million ($284 million) in a deal expected to be completed …

Third Point Re Shuns M&As Because Many Such ‘Marriages’ End in Divorce

Third Point Reinsurance Ltd., co-founded by hedge-fund manager Dan Loeb, likened the risk of mergers and acquisitions to picking a spouse without being aware of how much can go wrong. “Just like marriage, in M&A the 20 percent that work …