PartnerRe acquires Presidio Reinsurance Group
by Richard Kilner
Story link: PartnerRe acquires Presidio Reinsurance Group
PartnerRe Ltd. has announced that it has completed the acquisition of California-based Presidio Reinsurance Group. The Presidio Reinsurance Group is a leading US specialty accident and health reinsurance and insurance writer. All the necessary regulatory approvals for the acquisition have been granted. The Presidio Reinsurance Group was founded in 1994 and presently writes approximately $250m [...]
AmWINS acquires Gresham & Associates
by Richard Kilner
Story link: AmWINS acquires Gresham & Associates
AmWINS Group, Inc. has announced that it has completed the acquisition of Gresham & Associates, Inc. Gresham & Associates was founded by Jim Gresham in 1979, and has grown to become one of the largest managing general agents (MGA) and wholesale brokerages in the United States. Last year Gresham & Associates placed $340m in premium, [...]
PartnerRe to acquire Presidio Reinsurance Group
by Richard Kilner
Story link: PartnerRe to acquire Presidio Reinsurance Group
PartnerRe Ltd. has announced it has reached a definitive agreement to acquire California-based Presidio Reinsurance Group. The Presidio Reinsurance Group is a leading specialty accident and health reinsurance and insurance writer which currently underwrites approximately $250m of accident and health premium. The firm was founded 18 years ago and is a leading writer of HMO [...]
IAG to sell UK operations
by Richard Kilner
Story link: IAG to sell UK operations
Insurance Australia Group Limited (IAG) has announced the sale of all its UK operations following the completion of its strategic review. The sale is expected to occur through two separate transactions, with the Equity Red Star (ERS) business being sold to private equity investment firm Aquiline Capital Partners for £87m. The ERS sale is subject [...]
AIG to sell up to 90% of ILFC
by Richard Kilner
Story link: AIG to sell up to 90% of ILFC
American International Group, Inc. (AIG) and an investor group led by Mr. Weng Xianding, New China Trust Co. Ltd. chairman, have announced an agreement whereby AIG will sell up to a 90% stake in International Lease Finance Corporation (ILFC) to the investor group. The transaction would value ILFC, a non-core asset for AIG, at US$5.28bn. [...]
AIG acquires Woodbury Financial Services
by Richard Kilner
Story link: AIG acquires Woodbury Financial Services
American International Group, Inc. (AIG) has announced that its life and retirement business AIG Life and Retirement has acquired Woodbury Financial Services, Inc. from The Hartford. A definitive agreement for the acquisition was signed on 31 July 2012, and the deal means that Woodbury Financial Services now forms part of AIG Life and Retirement’s Advisor [...]
Towergate completes acquisition of NPIB
by Richard Kilner
Story link: Towergate completes acquisition of NPIB
Towergate Insurance has announced that it has acquired the business and assets of Norwich and Peterborough Insurance Brokers (NPIB). The acquisition of the non-life insurance broking operation of the Norwich and Peterborough Building Society is Towergate’s 25th this year and follows the acquisition last month of Dawson Whyte. NPIB was founded 18 years ago after [...]
Willis North America to acquire Avalon Actuarial
by Richard Kilner
Story link: Willis North America to acquire Avalon Actuarial
Willis North America has announced that it has entered into a definitive agreement to acquire the assets of Avalon Actuarial Inc. Avalon Actuarial is a leading Canadian employee benefits brokerage and actuarial consulting services firm, based in Montreal. The 45 employees and leadership team of Avalon Actuarial will join Willis North America’s Canadian operations, and [...]
Validus gets green lights to acquire Flagstone
by Richard Kilner
Story link: Validus gets green lights to acquire Flagstone
Validus Holdings, Ltd. has announced that at an Extraordinary General Meeting of Shareholders approval was given by the shareholders of Flagstone Reinsurance Holdings, S.A. in all relevant matters to allow Validus to acquire Flagstone. The overwhelming majority (more than 99%) of the shares voted at the meeting supported the proposed acquisition. Validus has also announced [...]
Towergate acquires Dawson Whyte
by Richard Kilner
Story link: Towergate acquires Dawson Whyte
Towergate Insurance has announced the acquisition of Dawson Whyte, one of Northern Ireland’s largest independent broking businesses. Dawson Whyte was founded in the 1950s as a partnership, and is today headquartered in Belfast with five offices across Northern Ireland. The firm provides commercial and personal lines insurance services to Ireland, Northern Ireland and the rest [...]
Ageas completes Groupama acquisition
by Richard Kilner
Story link: Ageas completes Groupama acquisition
Ageas has announced that the acquisition of Groupama Insurance Company Limited has now been completed. Following the deal Ageas becomes the fifth-largest UK Non-Life insurer, fourth largest Private Motor insurer and fourth largest Personal lines insurer. Groupama Insurances is to operate a separate wholly-owned subsidiary of Ageas UK which will work alongside Ageas Insurance Limited. [...]
ACE to acquire ABA Seguros
by Richard Kilner
Story link: ACE to acquire ABA Seguros
ACE Limited has announced that it has reached a definitive agreement to acquire ABA Seguros in Mexico from Ally Financial Inc. in a deal worth approximately $865m in cash. ABA Seguros was established 54 years ago and is the sixth largest property and casualty (P&C) insurer in Mexico, where it also offers auto, homeowners and [...]
Howden acquires 51% of Conset Seguros
by Richard Kilner
Story link: Howden acquires 51% of Conset Seguros
Howden Broking Group has announced that it has established a presence in Brazil after it acquired a 51% stake in Conset Seguros. Conset, a specialist broker with a major focus on the construction industry, was founded 14 years ago by Fernando Castro and Adelia Ribeiro and operates from offices in Rio de Janeiro, Sao Paolo [...]
Howden integrates Windsor Partners
by Richard Kilner
Story link: Howden integrates Windsor Partners
Howden Broking Group Limited, part of Hyperion Insurance Group, has announced the transfer of business assets from Windsor Partners Limited to Howden Insurance Brokers Limited. The transfer is part of a wider process of integrating Windsor into Howden, following the acquisition of the former in July of this year. John Bennett has been appointed chief [...]
Covéa Insurance enters UK market
by Richard Kilner
Story link: Covéa Insurance enters UK market
Covéa Insurance, created by the merger of MMA Insurance and Provident Insurance, has been launched. Covéa Insurance is new to the United Kingdom, and is already France’s leading property and liability insurance firm (in 2011) with 11m policyholders and €14bn in premiums. Chief Executive James Reader said that Covéa Insurance was perfectly placed to deliver [...]
Arthur J. Gallagher acquires Acumus
by Richard Kilner
Story link: Arthur J. Gallagher acquires Acumus
Arthur J. Gallagher International has announced that it has acquired specialist insurance advisor Acumus. Acumus caters to the needs of the housing association sector through the provision of risk consulting and insurance services. The firm offers a broad range of risk services, such as detailed assessments of key risk areas to firm-wide ‘health checks’. The [...]
Ageas UK to acquire Groupama Insurance Company
by Richard Kilner
Story link: Ageas UK to acquire Groupama Insurance Company
Ageas has confirmed that it has signed an agreement to acquire Groupama Insurance Company Limited (GICL) for £116m (equating to around €145m). The deal will see Ageas become the United Kingdom’s fifth largest Non-Life insurer, fourth largest Private Motor insurer and fourth largest Personal lines insurer. The acquisition is seen as being a good strategic [...]
ACE acquires 80% of Asuransi Jaya Proteksi
by Richard Kilner
Story link: ACE acquires 80% of Asuransi Jaya Proteksi
ACE Limited has announced that the firm has acquired 80% of PT Asuransi Jaya Proteksi in Indonesia. Asuransi Jaya Proteksi, which is based in Jakarta, is one of Indonesia’s leading general and personal lines insurers, and offers property, motor, accident, health and commercial insurance. ACE Asia Pacific Regional President Damien Sullivan said that the firm [...]
Canopius completes Omega acquisition
by Richard Kilner
Story link: Canopius completes Omega acquisition
Specialist (re)insurance underwriting business Canopius Group Limited has announced that it has completed the acquisition of Omega Insurance Holdings Limited. By acquiring Omega Canopius had significantly expanded its global presence, as well as increasing annualised premium income beyond the £1bn milestone. Omega, a UK-listed, Bermuda-domiciled insurance and reinsurance group, operates from Lloyd’s, via Syndicate 958, [...]
Towergate announces pair of acquisitions
by Richard Kilner
Story link: Towergate announces pair of acquisitions
Towergate Insurance has announced that it has made a pair of acquisitions, namely Sheraton Insurance Brokers and JBI International Insurance Brokers Ltd. The two acquisitions will enhance the scale and specialisms of Towergate’s Broking Division. Sheraton Insurance Brokers is based in Wickham and specialises in general insurance. Towergate has acquired the non-life business of Sheraton [...]
