Business Moves & Mergers News

Hannover Re Completes Purchase of Lloyd’s Business Argenta

Hannover Re has completed the acquisition of the UK holding company Argenta Holdings Ltd., which owns the companies Argenta Syndicate Management and Argenta Private Capital, as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121. The …

General Indemnity Group Acquires Kansas’ Surety Support Services

General Indemnity Group LLC (GIG), a subsidiary of Boston Omaha Corp., has acquired Surety Support Services Inc., of Overland Park, Kansas. Tracing its origins back almost 40 years, Surety Support Services (SSS) provides surety-only services to contractors, insurance agents, brokers …

Talanx Acquires Generali’s Colombian Businesses for €30M (US$34.6M)

Talanx has acquired Generali Colombia Seguros Generales S.A. and its life insurance subsidiary, Generali Colombia Vida Compañia de Seguros S.A., for approximately €30 million (US$34.6 million) Generali explained that Talanx is acquiring 91.3 percent of Generali Seguros and 93.3 percent …

JenCap Holdings Acquiring Michigan’s Special Risks Facilities

JenCap Holdings LLC has agreed to acquire privately held Special Risks Facilities Inc., an MGA/contract binding authority and wholesale insurance brokerage firm based in Sterling Heights, Michigan. Special Risks was formed in 1971 and has been led by Jack Klebba …

Starr Buys Stake in Small Business Insurtech CoverWallet

Starr Companies is now a minority shareholder in online small business insurance agency CoverWallet. CoverWallet confirmed the deal that was first reported by the Wall Street Journal. No financial terms were disclosed. Starr previously invested in CoverWallet’s Series A round, …

London MGA Nexus Acquires U.S.-Based Treaty MGA from ZON Re

Specialty insurance managing general agent Nexus Group said it has acquired the assets of Personal Accident Treaty Reinsurance MGA operated by ZON Re, a U.S. based treaty reinsurance managing underwriter and Lloyd’s coverholder. The New Jersey-based ZON Re PA Treaty …

UK’s Aviva to Sell Asia/Middle East Life Unit to Focus on Core Markets

Aviva, Britain’s biggest life insurer, said it would sell Friends Provident International (FPIL), which provides life assurance and investment products in Asia and the Middle East, to a unit of International Financial Group for 340 million pounds ($443 million). The …

Beazley Launches Dublin-Based Insurer to Write Non-Life Insurance in EU

Specialist insurer Beazley has received authorization from the Central Bank of Ireland to convert its established Dublin-based reinsurance company into an insurance company permitted to transact business throughout the European Union. Beazley explained that its strategy to write EU non-life …

Morse Insurance Agency Acquires Quaglia Insurance in Massachusetts

Morse Insurance Agency Inc. has acquired Quaglia Insurance in Attleboro, Mass. “While clients may experience a few small differences in process and procedures, our ultimate goal is to make the transition seamless because, here at Morse, clients are our number …

AXIS Capital to Launch Lloyd’s Managing Agency

Bermuda-based AXIS Capital Holdings Ltd. announced it will launch a Lloyd’s managing agent after receiving authorization from Lloyd’s, the UK Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Effective Aug. 4, AXIS Managing Agency will assume management of …