Mergers & Acquisitions

Japanese Insurer Sompo has announced it has agreed a deal for the acquisition of Lloyd’s insurance group Canopius and will use it as the base for a new speciality insurance operation.

ANV Holdings has completed its transaction to combine their Lloyd's managing agency operations, ANV Syndicate Management Ltd (ASML) and Jubilee Managing Agency Ltd (Jubilee). 

Expansion into new geographic markets has been identified as the top driver of profitable growth in 2014, according to a new Guy Carpenter survey.

JLT is to acquire the reinsurance brokerage business of global professional services company Towers Watson for a cash consideration of US$250m (£156m). The combined business will be branded for a transitional period as JLT Towers Re.

Markel Corporation has finished the year with a bang after it announced it is to acquire Bermudian re/insurance group Alterra.

Reinsurer Swiss Re has announced the dates for its delisting and the squeeze-out of outstanding shares in Swiss Reinsurance Company Ltd...
 

China Re is to enter the Lloyd’s market after striking a deal with Underwriting group Catlin...

US wholesale broking specialist AmWINS is poised to buy insurance and reinsurance broking and risk management group, THB after its board agreed to an offer from AmWINS to acquire 100% of the share capital of THB at 80.55 pence per share.
 

First Reserve the parent group of global specialty insurer, Torus has announced it will bring together the underwriter with its other insurance investment vehicle Sideris Re.

Reinsurer Swiss Re has successfully placed a new securitization programme for $75 million of US and UK extreme mortality risk in the fourth incarnation of its Vita programme.

Berkshire Hathaway’s involvement with reinsurer Swiss Re increased yesterday after the pair announced a major retrocessional deal to hive off part of the latter’s underperforming life operations.

Marsh has paid £135 million for the broking arm of the HSBC group which will see the reinsurance unit merged into Guy Carpenter.

Underwriters and brokers have been told they need to prepare for a change in the market now as to wait until there is concrete signs will leave them lagging behind the traditionally more nimble new entrants.

As the debate continues over the timeline for implementation of Solvency II consultancy firms KPMG has said the run-off sector should be pleased with new concessions in the scheme

Catalina Holdings (Bermuda) Ltd (Catalina), has announced it has received consent from FINMA, the Swiss Financial Markets Supervisory Authority, for the completion of its acquisition of Glacier Reinsurance AG, the Swiss-based reinsurance company which had been placed into run-off last year.

 

Allied World Assurance and Transatlantic Holdings have announced the first major industry consolidation of the year. While the two sides say this is a merger of equals analysts believe the announcement could flush out other bidders.

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