2020 M&A News

Insurance Office of America Merges with New Jersey’s RDA Benefit Services

Insurance Office of America (IOA) has merged with New Jersey-based RDA Benefit Services, owned by Bob and Nancy Damato. The merger became effective Jan. 1, 2020, and further adds to IOA’s growing team in the Northeast region. RDA has served …

Arch Re to Buy Majority Stake in Australia’s Precision Marketing Asia Pacific

Arch Reinsurance, a wholly owned subsidiary of Bermuda-based Arch Capital Group Ltd., announced it has entered into an agreement in principle to obtain a majority stake in Precision Marketing Asia Pacific (PMAP), subject to regulatory and other approvals. PMAP is …

HCI Approved by Florida Regulator to Replace Anchor P&C Coverage for 43K Insureds

The Florida Office of Insurance Regulation has approved a plan for Homeowners Choice Property and Casualty Insurance Company, a subsidiary of HCI Group, to provide replacement policies for Anchor Property and Casualty Insurance Co. policyholders. The approved plan provides policyholders …

SCOR Buys Majority Stake in Brazil MGA with Agricultural Specialty

Global reinsurer SCOR said it has acquired a majority stake in AgroBrasil, an MGA focused on distributing fruit and grain loss of crop quality and yield insurance protection to Brazilian farmers. Neither side disclosed financial details. Paris-based SCOR has partnered …

NFP Buys Canada Political Risk and Trade Credit Broker, Indemnis Trade Risk Mgmt

NFP, the New York City-based insurance broker and consultant, announced the acquisition of Indemnis Trade Risk Management Ltd. Financial details of the transaction, which closed on Dec. 10, 2019, were not disclosed. Indemnis, headquartered in Toronto, Ontario, Canada, with operations …

Hub International Buys Quebec-Based Azur Consulting Services

Hub International Ltd. (Hub), the Chicago-based insurance broker, announced it has acquired the assets of Azur Consulting Services Inc. Terms of the transaction were not disclosed. Located in Longueuil, Quebec, Canada, Azur Consulting Services provides employee benefits consulting, including group …

Tokio Marine Completes Acquisition of High Net Worth Insurance Specialist Pure Group

Tokio Marine Holdings announced that it has completed the acquisition of Privilege Underwriters Inc. and its subsidiaries, known as Pure Group, which specializes in the U.S. high net worth insurance market. The deal was announced last October. The acquisition price …

Italian Investor Group Exor Weighs Sale of PartnerRe to France’s Covea

Investment group Exor, which controls carmaker Fiat Chrysler, is in exclusive talks to sell reinsurer PartnerRe to France’s Covea in a deal one source familiar with the matter said was worth around $9 billion. Exor, the investment vehicle of Italy’s …

Argo to Sell Trident Public Risk Solutions to Paragon MGA

Bermuda-based global specialty lines underwriter Argo Group International Holdings has agreed to sell its Trident Public Risk Solutions brand and underwriting platform to Paragon Insurance Holdings. Trident Public Risk Solutions provides insurance and risk management services for public sector entities …

Title Insurer Fidelity National to Acquire FGL Holdings

Fidelity National Financial Inc said on Friday it would acquire U.S. annuities and life insurance firm FGL Holdings Inc. in a deal valued at $2.7 billion, as it seeks to expand beyond its core title insurance business. Reuters reported on …