Acquisitions

Cambridge Mobile Telematics (CMT), the global leader in mobile telematics and analytics, has acquired TrueMotion, the second largest mobile telematics provider.

Insurance broker Aon’s $30 billion bid for Willis Towers Watson, the biggest ever in the sector, is expected to get the EU antitrust green light later this month or in early July, people familiar with the matter said.

USAA is acquiring the insurtech Noblr and will use the company’s usage-based insurance platform for a new offering.

Allstate has agreed to acquire Ohio-based SafeAuto, which offers car insurance that meets the minimum legal requirements in 28 states.

The reinsurance industry is missing out on the benefits of digital transformation while the rest of the insurance industry surges ahead with modernisation, according to new research published by Supercede, the fast-growth global reinsurance placement platform.

The acquisition gives Insurity an advantage in pursuing the $40 billion program business market and enables P&C carriers and MGAs to rapidly grow through bureau content-enabled software.

Dieter Wemmer, a veteran insurance executive who was chief financial officer at Allianz SE, is launching a blank-check company to target deals in the sector where he worked for more than three decades, people familiar with the matter said.

Tokio Marine Holdings is reportedly acquiring a US-based insurer operating in the employee benefits space, in a deal that could be worth US$184 million.

Enquiron’s proven engagement success, data and technology solutions will complement Zywave’s existing product portfolio and help drive ROI for customers

Italy’s biggest insurer Generali is in exclusive talks to buy assets in Malaysia belonging to French rival AXA in a deal worth around 300 million euros ($358 million), two sources said on Tuesday.

Zurich Insurance and Farmers Exchanges have closed on buying MetLife’s U.S. property/casualty business for $3.94 billion.

The combination of the two companies reflects a shared vision: lowering costs and providing greater access to quality, affordable, personalized care, according to a press release issued by Cain Brothers, Zipnosis’ financial adviser.

Life and health insurance firm Bounce Life has sold its InsurTech platform and advisory business for an undisclosed seven-figure sum.

German re/insurer Allianz is exploring an offer for The Hartford, after the U.S. property and casualty insurer rejected a recent offer from Chubb, according to Bloomberg reports.

Aviva has sold its Polish operations to Germany’s Allianz for €2.5 billion in cash, completing a programme to sell European and Asian assets begun last year, the British insurer said on Friday.

Jakarta-based insurtech startup Qoala has acquired Thai peer FairDee, further expanding its reach in Southeast Asia. The company has a presence in Indonesia, Singapore, Malaysia, Vietnam, and now Thailand, serving millions of consumers across the region.

Canada’s Constellation Insurance Holdings, Inc. has agreed to acquire Cincinnati-based life and disability insurer Ohio National Mutual Holdings, Inc. and its wholly owned subsidiary Ohio National Financial Services, Inc. for a total consideration of US$1 billion.

Chubb Ltd., the global insurer led by Evan Greenberg, is exploring an acquisition of Hartford Financial Services Group Inc. in what could be one of the industry’s biggest deals in years, people familiar with the matter said.

Italy’s biggest insurer Generali is studying an acquisition in Russia worth nearly 2 billion euros ($2.4 billion), Il Sole 24 Ore daily reported on Wednesday.

Accelerant Holdings today announced the acquisition of Commonwealth Insurance Company of America from Brit Group, a subsidiary of Fairfax Financial.

Sightway Capital is selling its majority position in the multiline, tech-focused distributor, and will continue to hold a stake in the company as a minority shareholder.

Aviva Plc has exited its Italian businesses in a pair of deals totaling 873 million euros ($1.1 billion) as the UK insurer continues to pivot to its core markets.

Digital commercial insurance company Next Insurance has agreed to acquire AP Intego, a Massachusetts-based digital insurance agency providing small commercial insurance products.

After rumours began swirling that AXA XL was looking to sell its private client business to fellow insurance giant Aviva, the company has issued a statement to Insurance Business confirming its plans.

After months of speculation, London-headquartered insurer Aviva has announced an agreement to sell its French business to mutual insurer Aéma Groupe, for €3.2 billion in cash.

Aston Lark, the Chartered insurance broker backed by Goldman Sachs, further bolsters its employee benefits and individual health insurance expertise by today announcing it has agreed terms for the acquisition of both Right to Health Ltd and The Health Insurance Specialists. Both deals are expected to complete in early March.

Aviva Plc, the British insurer, is in advanced talks on a sale of its Italian operations as it pushes ahead with about 6 billion euros ($7.3 billion) of divestments, people with knowledge said.

British insurance giant Aviva is reportedly in advanced discussions regarding the sale of its Italian operations, as it continues to push ahead with around €6 billion (approx. AU$9.3 billion) of divestments.

The merger of Aon with Willis Towers Watson is on course to close in the first half of 2021, said John Haley, Willis Towers Watson’s Chief Executive.

Allianz will acquire full ownership of its China life insurance business after agreeing to buy the 49% stake it doesn’t already own in its Chinese joint venture, the German insurance giant said on Friday.

Insurtech startup CXA Group announced plans to restructure its business to focus “solely” on its enterprise software-as-a-service (SaaS) business.

The new owner-to-be: Sontiq, an identity security company with a number of identity and cyber monitoring products and services. Sontiq is a portfolio company of The Wicks Group of Companies, and it signed a definitive agreement to buy Cyberscout.

Mutual life insurer MassMutual has announced plans to acquire Great American Life Insurance Company from American Financial Group for $3.5 billion.

Allstate Corporation has entered an agreement to sell Allstate Life Insurance Company (ALIC) to Blackstone for almost $3 billion.

Canadian property and casualty insurer Intact gained shareholder approval for its proposed joint-takeover of UK insurer RSA.

Financial firm Sixth Street Partners has agreed to buy annuities company Talcott Resolution for $2 billion, the latest ownership change in a decade of frenzied industrywide life-insurance deal activity.

American Family Insurance’s holding company has acquired the small-commercial insurance distribution insurtech Bold Penguin, it announced.

In late November, Singapore-based digital life insurance company Singlife completed its US$2.3 billion merger with the Singapore arm of UK insurance company Aviva. The deal, which was first announced in September, was the largest insurance deal in Singapore and one of the largest in Southeast Asia, creating a new entity Aviva Singlife.

British used-car startup Cazoo has announced that it has agreed to acquire Drover , the UK’s leading car subscription platform, for an undisclosed sum.

Zurich Insurance’s subsidiary Farmers Group has agreed to team up with Farmers Exchanges to buy Metlife’s US property and casualty business for $3.94bn (£2.96bn).

Houston-based online commercial insurance portal Now Insurance Services announced that it has secured an additional $1.25 million in seed funding led by The MFO Group. The company has raised $2.5 million to date after its initial raise in 2019.

Next Insurance, the leading digital insurtech company transforming small business insurance, today announced that it has completed the purchase of Juniper Labs, an innovative provider of alternative open data and underwriting technology focused on small businesses.

Brown & Brown Inc. has acquired online insurance platform CoverHound Inc., including its wholly owned subsidiary CyberPolicy, Brown & Brown said in a statement Monday.

Zego, the London-based mobility insurance provider and the first UK insurtech to be awarded an insurance license, has acquired telematics company, Drivit.

Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation, announced today that it will complete five insurance acquisitions this quarter, adding over $100 million of combined annual revenue to its wholesale division.

Travelers announced Thursday that it has agreed to buy InsuraMatch, a digital independent insurance agency, to help the insurance giant expand its personal insurance portfolio.

Specializing in working with clients that offer life, annuities, retirement, employee benefits, and property and casualty insurance, NEOS provides consulting and delivery services to solve its clients’ strategy, operations, data, and technology challenges.

Bestow has agreed to buy Centurion Life Insurance, becoming the latest insurtech to scoop up an insurance carrier.

Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Seattle-based North Star Insurance Services, LLC and Fairhaven, Mass.-based North Star Marine Insurance Services, LLC.

ServiceNow Inc. will buy Canadian startup Element AI Inc., marking the software maker’s fourth acquisition this year to boost the artificial intelligence capabilities of its applications.

Vienna Insurance Group AG (VIG) is buying Aegon’s insurance, pension, and asset management businesses in Hungary, Poland, Romania, and Turkey for €830 million (around $993 million).