Mergers and Acquisitions News

M&A Deals Likely to Become More Challenging as Sellers Seek High Deal Values

The current operating environment continues to prompt mergers & acquisitions (M&A) among insurers and reinsurers. However, the number of potential M&A candidates has declined and sellers’ expectations of high deal values could make future transactions more challenging, according to a …

Texas Insurance Wholesalers Find Strength in Independence, Relationships

There’s no denying the robust mergers and acquisition trend among wholesale brokers in the property/casualty insurance industry nationwide, and Texas is no exception. But some Texas wholesale brokers and managing general agents (MGAs) with fiercely independent streaks say that while …

April Reinsurance Renewals Continue Flat Pricing Seen in January: Willis Re Report

Reinsurance buyers were able to renew loss-free programs at broadly flat pricing levels during the April 1 renewals – continuing the trend seen at the January renewals, according to a Willis Re report. Pricing was dampened by the continued amounts …

Service Insurance Holdings Acquires Oklahoma’s American Healthcare Indemnity

Service Insurance Holdings Inc. (SIHI), parent of Texas-based workers’ compensation insurer, Service Lloyds Insurance Co., has acquired American Healthcare Indemnity Co. (AHIC), an Oklahoma-based insurer. The new entity will be rebranded as Service American Indemnity Co. The acquisition is a …

Michigan-Based Broker Acrisure Completes Acquisition of UK-Based Beach

London-based broker Beach & Associates announced the completion of its acquisition by Acrisure LLC, the Michigan-based retail consulting and insurance broker. Having obtained all necessary regulatory approvals, Acrisure has acquired 100 percent of the company’s equity from existing shareholders. These …

Cyber VC Firm, Advised by Ex-Intelligence Officials, Plans Europe M&As

A venture capital fund advised by former British and U.S. intelligence officials is planning a string of acquisitions to create a pan-European cyber security specialist. C5 Capital aims to create a regional managed security service leader combining the latest cloud-based …

MGA Ascent Underwriting Acquired by Preservation Capital Partners

Private equity firm Preservation Capital Partners has completed its acquisition of Ascent Underwriting, the London-based cyber and specialty lines MGA, after obtaining UK regulatory approval. Ascent’s management team will retain a significant shareholding in the company and will continue to …

AIG to Buy Bermuda Reinsurer Validus for $5.6B in Cash, Reversing Retrenchment

Eight months after Chief Executive Officer Brian Duperreault took over and began to undo his predecessor’s retrenchment strategy, the company announced a $5.56 billion, all-cash deal to purchase Bermuda reinsurer Validus Holdings Ltd., its largest standalone acquisition in 17 years. …

RenaissanceRe to Buy Minority Stake in Run-Off Firm Catalina Holdings

RenaissanceRe will pick up a minority stake in Catalina Holdings (Bermuda) Ltd., a long-term manager of legacy runoff P/C insurance and reinsurance businesses. Neither side is disclosing financial terms. RenaissanceRe will pursue the investment through its subsidiary RenaissanceRe Ventures Ltd. …

S. Africa Mobile Phone Firm Cell C Seeks M&A to Expand into Insurance

Cell C Pty Ltd. is seeking acquisitions that will help transform South Africa’s third-biggest mobile-phone company into a full-service telecommunications provider offering internet and financial services as well as traditional calls and texts. The wireless carrier is working on two …