Acquisitions
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Liberty Mutual Insurance Announces Sale of Personal & Small Commercial Operations in Western Europe to Generali Group USA
Liberty Mutual Insurance and Generali Group have announced signing a definitive agreement for Generali to acquire Liberty Seguros, S.A. – Liberty Mutual’s personal lines and small commercial insurance business headquartered in Madrid.
Zurich Insurance Reportedly Eyes $400 Million Stake in General Insurance Arm of India’s Kotak
Zurich Insurance Group (ZURN.S) is reportedly in talks to buy up to 51% of India’s Kotak General Insurance, two sources with direct knowledge of the matter have said, in a deal that would mark its first major bet on the fast-growing South Asian insurance market.
Marsh McLennan’s Guy Carpenter Announces Acquisition of Re Solutions
Guy Carpenter, a global risk and reinsurance specialist and a Marsh McLennan business, has announced the acquisition of Re Solutions, the leading independent reinsurance broker in Israel.
AIG Divests Validus Re to Streamline its Business Model in US$4.5 billion Deal
AIG has divested Validus Re to RenaissanceRe in an acquisition deal worth a reported $4.5 billion
Fisher Asset Management Reveals New Acquisition in Resideo Technologies
Fisher Asset Management Reveals New Acquisition in Resideo Technologies, Inc. as reported to the Securities & Exchange Commission.
Zinnia Acquires Policygenius to Create Front-to-Back Architecture for Insurance Value Chain
Zinnia, a leading life and annuity insurance technology and digital services company, announced today its acquisition of Policygenius, a digital insurance marketplace.
Insurtech Ledgebrook Raises US$4.6 Million in latest Funding Drive
Boston-based insurtech startup Ledgebrook has successfully raised $4.6 million in a recent funding round led by Markd
ITI USA President Joins Board of Advisors for FinTech Graduate Program at University of Connecticut
Megan Kuczynski, President of Insurtech Insights USA has joined the Board of Advisors for the FinTech Graduate Program at University of Connecticut (UConn).
Direct Line Group Acquires By Miles For Undisclosed Sum
Direct Line Group, the private motor insurer, has acquired By Miles, a pay-by-mile insurance provider for an as yet, undisclosed sum.
Sproutt Launches SmartLife for Agencies and Announces Reder Agency Acquisition
Sproutt, the life insurance company that modernises life insurance for agencies, agents, and their customers, has announced the launch of Sproutt SmartLife for Agencies.
12 Insurtech Trends Leading Market Disruption in 2023
The insurtech space is changing rapidly – and incumbents and startups alike need to keep a watchful eye on the latest trends
Insurer Zurich Experiments with ChatGPT for Claims and Data Mining
Insurance group is the latest example of a long-established business trying out AI to improve productivity
Sacramento-Based Retail Broker Inszone Acquires Contractors Insurance Group
Inszone Insurance Services has announced that it has acquired The Contractors Insurance Group, an Arizona-based agency that focuses on contractors.
Insurtech bolt and Pathpoint Launch E&S Integration
Singapore-based insurtech bolt has partnered with Pathpoint, a digital wholesaler for small commercial excess & surplus (E&S).
Cover Genius Acquires Clyde, Expanding its Presence in $121B Global Warranty Industry
Cover Genius, the insurtech for embedded protection, has announced the completion of an asset acquisition agreement with US-based embedded warranty provider, Clyde Technologies. The assets acquired will assist Cover Genius’ continued expansion into the medium-sized e-commerce segment.
SRG Buys Consort Insurance
Specialist Risk Group (SRG) has today announced its acquisition of the mid-market commercial broker Consort Insurance.
Insurer FWD Group to buy majority stake in Malaysia’s Gibraltar BSN
Insurance firm FWD Group Holdings Ltd (FWD.N) said on Monday it had agreed to buy a majority stake in Malaysian insurer Gibraltar BSN Life Bhd for an undisclosed price, expanding its presence in the country’s full-service insurance business.
Aviva completes £850m buy-in with Arcadia Group Pension Schemes
Aviva has completed an £850 million buy-in of the Arcadia Group Pension Scheme and Arcadia Group Senior Executive Pension Scheme. The transaction enables the Trustees to secure benefits in excess of Pension Protection Fund levels for around 8,800 members of the schemes.
Aston Lark announces acquisition of Allegiance Insure
Aston Lark, a Howden company, today announces it has agreed terms to acquire Allegiance Insure Ltd. Based in the City of London, Allegiance Insure was established by Charles Wintour in 2015.
Brookfield Reinsurance to Acquire Insurer Argo Group in $1.1B Deal
Financial services firm Brookfield Reinsurance announced it has entered a definitive agreement to acquire Argo Group International Holdings in an all-cash transaction valued at approximately $1.1 billion.
Specialty MGA UK buys specialist crop and forestry insurer
Merger offers access to Lloyd’s and worldwide markets as investors focus attention on forestry for carbon sequestration.
Metlife’s investment arm agrees to acquire Raven Capital Management
The investment arm of insurance giant Metlife Inc said on Tuesday it had agreed to acquire Raven Capital Management, a U.S. private credit manager with $2.1 billion in assets under management.
Essent buying title insurance companies for $100M
Essent Group agreed to purchase the title insurance subsidiaries of Finance of America’s Incenter business for $100 million, the latest company looking to find synergies between the two businesses.
Ardonagh Group seals acquisition of Envest
UK-based Ardonagh Group has completed its acquisition of Envest, which it first agreed to acquire in November last year.
Westfield closes acquisition of Lloyd’s syndicate
Westfield has announced that it has completed its acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings.
Hub Financial Inc. Acquires Bridgeforce Financial Group Inc. In Ontario
Hub Financial Inc. (Hub Financial), one of Canada’s largest distributors of life insurance and investment solutions, announced today that it has acquired, through one of its affiliates, Achievex Financial Services Inc., W.C.S Financial Services Inc., W.C.S. Achievex Inc., Allen Wong & Associates Agency Limited, BridgeForce Financial Group Inc., Cinaber Financial Inc., Ontario East Insurance Agency Ltd., and Joseph B. Woodyatt Insurance Agencies Limited (BridgeForce). Terms of the transaction were not disclosed.
At-Bay Acquires Licensed P&C Insurance Carrier
At-Bay, the insurance company for the digital age, today completed the acquisition of At-Bay Specialty Insurance Company, a Delaware-domiciled excess and surplus (E&S) lines property and casualty (P&C) insurer licensed in 44 states, from XL Insurance America, Inc.
Dayforward Raises $25M and Acquires Commercial Travelers Life Insurance Company
The digital-first life insurance company builds on its initial successful launch with a carrier acquisition to expand nationally, bringing financial security to families with revolutionary new products and technology
Arthur J. Gallagher & Co. Acquires Remco Insurance Agencies, Inc.
Arthur J. Gallagher & Co. today announced that its subsidiary, Risk Placement Services, Inc. (RPS), has acquired Austin, Texas-based Remco Insurance Agencies, Inc. Terms of the transaction were not disclosed.
First Underwriting launches a new motorsport underwriting brand
First Underwriting has launched a new motorsport insurance brand called Slipstream Underwriting.
Hub International announces acquisition
Hub International has announced its acquisition of the assets of Michigan-based Grace & Porta Benefits, Inc.
HUB INTERNATIONAL EXPANDS REAL ESTATE INSURANCE CAPABILITIES
Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired The O&S Insurance Brokerage Group, Inc. and OSA Insurance Brokerage Services, LLC (collectively, OSA Insurance Brokerage Services). Terms of the transaction were not
Marsh McLennan Agency Acquires HMS Insurance Associates
Marsh McLennan Agency (MMA), a subsidiary of Marsh, today announced the acquisition of Hunt Valley, Maryland-based HMS Insurance Associates, Inc., one of the nation’s largest independent agencies. Terms of the acquisition were not disclosed.
Duck Creek to acquire Imburse Payments, a modern payments platform
Strategic acquisition will add digital, out-of-the box payments capabilities to Duck Creek’s comprehensive suite of SaaS solutions for P&C and general insurers
ARMD Launches IoT Smart Van Alarm to Boost Protection for Tradespeople
The solution gives insurers better underwriting data, reduces fraudulent claims, and enhances protection for tradespeople in the U.K.
MagMutual Completes Acquisition of MDAdvantage Insurance Company
MagMutual Insurance Company, the nation’s largest mutual insurer of physicians, has completed its acquisition of MDAdvantage Insurance Company of New Jersey. The transaction received final corporate approval and regulatory approval by the New Jersey Department of Banking and Insurance in December.
Johnson & Johnson announces acquisition of Statewide Insurance Corp
Managing general agency Johnson & Johnson announced that it recently acquired the assets of Statewide Insurance Corp as it looks to expand into a number of Southwestern states.
Arthur J. Gallagher & Co. Acquires CBS Insurance LLP
Arthur J. Gallagher & Co. today announced the acquisition of Abilene, Texas-based CBS Insurance, LLP. Terms of the transaction were not disclosed.
Arthur J. Gallagher & Co. announces $660M acquisition of Buck
Arthur J. Gallagher & Co. announced on Tuesday that it has agreed to acquire the partnership interests of Buck, a provider of retirement, HR and employee benefits consulting and administration services. The transaction is expected to close during the first half of 2023, subject to customary regulatory approvals.
Arthur J. Gallagher & Co. Acquires Aviation Insurance Australia
Arthur J. Gallagher & Co. today announced the acquisition of Brisbane, Queensland-based Aviation Insurance Australia. Terms of the transaction were not disclosed.
Zurich Insurance Emerges as Front-Runner to Buy MetLife’s Malaysia Business
Zurich Insurance Group AG has emerged as the front-runner to buy a majority stake in the Malaysian insurance business of US insurer MetLife Inc. and Kuala Lumpur-listed AMMB Holdings Bhd., according to people with knowledge of the matter.
Generali plans sale of $21 billion of its Italian life insurance portfolio
Italian insurer Generali SpA is planning to sell roughly 20 billion euros ($21 billion) of its Italian life insurance portfolio, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Liberty Mutual considers $1bn sale of Europe business
US insurer, Liberty Mutual Holding Company (LMHC), is exploring a sale of its businesses in Spain, Portugal and Ireland, according to Bloomberg News sources.
KKR Nears €2.3 Billion Deal for CVC’s Insurance Broker April
French insurance broker April Group said private equity firm KKR & Co. has become its new majority shareholder, according to a statement posted on its website.
Marsh McLennan Agency Acquires Focus Insurance
Marsh McLennan Agency (MMA), a subsidiary of Marsh, today announced the acquisition of Focus Insurance, a leading personal insurance brokerage firm based in Houston, Texas. Terms of the acquisition were not disclosed.
Marsh McLennan Agency acquires Bradley Insurance
Commercial insurance broker based in Tennessee, Bradley Insurance Agency, has been acquired by Marsh McLennan Agency (MMA), a subsidiary of Marsh. The terms of the acquisition have not been disclosed.
Aegon, ASR will merge Dutch insurance operations, Aegon to receive 2.5 billion euros
Aegon NV said on Thursday smaller rival ASR would acquire its insurance operations in the Netherlands in a deal that would see ASR replace it as the second-largest Dutch insurer.
ManyPets acquires Digital Edge Insurance Company
Pet insurance company ManyPets announced the acquisition of Digital Edge Insurance Company, a US-based carrier, from Munich Re Digital Partners US Holding Corporation, following regulatory approval.
Specialty MGA UK launches in London
A new MGA has been launched in London a short distance from Lloyd’s market. Specialty MGA UK has been created with a focus on providing additional capacity for specialty lines of businesses and hard to place risks.
Gradient AI acquires Prognos Healthcare
Gradient AI, a Boston-based enterprise software provider of AI solutions in the insurance industry, announced that it has acquired Prognos Health’s (New York) analytics business underwriting unit to leverage data from the company’s large collection of integrated medical records and lab data via its real-world data marketplace.
Insurer AXA to buy Spanish peer GACM Espana for 310 million euros
Allianz is expanding its automatic accident detection service. Dubbed the Allianz accident reporter, the digital claims service used by Allianz at the scene of an accident, can automatically detect accidents and notify the insurer. Insureds are later informed about the next steps of claims settlement.
Munich Re acquires API-focused insurtech
Reinsurance giant Munich Re has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software-as-a-Service (SaaS) for the insurance industry’s ecosystem.
Allianz X acquires insurtech pioneer simplesurance
Allianz X, the digital investments arm of Allianz Group, will acquire 100 percent of the shares in simplesurance.
bolttech expands in Indonesia with Axle Asia acquisition
Singapore-based international insurtech, bolttech, has announced it has completed the acquisition of a majority shareholding in PT Axle Asia, an established insurance broker in Indonesia.
Howden acquires Swiss broker, Born Consulting AG
International insurance broker Howden, has acquired Swiss Broker, Born Consulting AG.
Gallagher acquires specialist crisis and risk management consultancy
Gallagher has acquired AnotherDay, a specialist crisis and risk management consultancy that helps organisations to pre-empt and prepare for complex threats, react to crises and investigate criminality through the use of intelligence and technology.
Howden RE and TigerRisk to launch $6bn global MGA business
Howden RE and TigerRisk have announced the creation of Howden Tiger SabRE (SabRE), a new group combining their MGA operations and programme capabilities.
Generali acquires AXA Malaysia joint ventures
Italy-headquartered insurer Generali has acquired Axa’s Malaysian operations, in line with Generali strategy to strengthen its leadership position in high potential markets.
Lemonade, Metromile, EIS – “one of the best insurance deals in 2022”
On July 29, the day after the Metromile acquisition closed, Lemonade laid off 20% of the Metromile team, with the explanation: “This acquisition is synergistic, in that the combined entity is better than the sum of its parts, and can operate with fewer people than were needed to staff the two standalones.”
Insurtech startup Relay Platform acquired by US-based insurance broker At-Bay
Toronto InsurTech startup Relay Platform has been acquired by At-Bay, a digital insurance provider based in San Francisco.
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