M&A

Eurazeo completes BMS investment as ex-PartnerRe CEO Clarke joins broker as chairman

French private equity firm Eurazeo has completed its previously announced £355mn investment in BMS Group, a deal which gives it a 34 percent stake in the business, with the broker also announcing that former PartnerRe president and CEO Emmanuel Clarke has succeeded John Hastings-Bass as chairman.

AssuredPartners’ PE backers considering sale or IPO

AssuredPartners’ private equity backers GTCR and Apax Partners are considering options for the fast-growing US intermediary in a deal which could be valued as high as $16bn, including debt, according to a Bloomberg report.

Velocity acquires majority stake in builder’s risk MGA Insight Risk

Velocity has acquired a majority stake in managing general agent Insight Risk Technologies, a one-stop loss prevention and risk transfer solution provider for the builder's risk market, The Insurer can reveal.

Allianz sells majority stake in Middle East unit to ADNIC

Allianz has entered into a binding transaction to sell its 51 percent stake in Allianz Saudi Fransi in Saudi Arabia to regional insurer ADNIC, as the Munich-based group streamlines its primary insurance operations in the Middle East.

Nascent Group to acquire Bermuda Compliance Consultants Ltd

Hiscox sells DirectAsia business to Ignite Thailand

Hiscox has entered into an agreement to sell DirectAsia, its business in Singapore and Thailand, to Ignite Thailand Holdings for an undisclosed sum.

UIB opens Peru office through South Re and JEF deals

International (re)insurance broker UIB has expanded its South American operations by opening an office in Peru through local brokers South Re and JEF Corredores de Seguros joining the group.

Oakbridge secures Audax growth investment as Corsair exits

Middle market-focused Audax Private Equity has bought into Oakbridge Insurance Agency alongside the expansive retailer’s management, in a transaction which also sees cornerstone backer Corsair Capital divest its stake in the broker.

Amynta acquires renewal rights to James River’s $53mn-GPW IRWC business

James River has entered into an agreement to sell the renewal rights to its individual risk workers’ compensation (IRWC) business – which produced $53mn of gross written premiums in 2022 – to Amynta Group.

Tremor Technologies founder Bourgeois exits with asset sale to WR Berkley

The assets of reinsurance placement insurtech Tremor Technologies have been sold to WR Berkley, capping a six-year journey for the platform, which sought to help buyers and reinsurers more efficiently match capacity and price, The Insurer can reveal.

Gallagher acquires CA-based transportation specialist Hartley Cylke Pacific

Arthur J Gallagher has added to its footprint in southern California with the acquisition of San Diego-based Hartley Cylke Pacific Insurance Services.

Ageas completes sale of French unit in refocus to P&C

Ageas has continued to refocus its operations towards P&C with the completion of its previously announced agreement to sell its French life business to La Mutuelle Epargne Retraite Prévoyance Carac.

Aviva acquires AIG’s UK protection business for £460mn

Aviva has acquired AIG's UK protection business for a consideration of £460mn ($562.9mn), in a move the London-listed insurer said will solidify its position in its domestic life market and add more than 2.7 million customers to its portfolio.

R&Q shares close up 16% after confirming Accredited sale talks with PE firm Onex

R&Q’s share price closed up 16.45 percent on 22 September after the troubled company confirmed it is in discussions with the Canadian private equity firm Onex Corporation over the sale of its hybrid fronting business Accredited.

R&Q shares rise 13% after confirming advanced talks with Onex over Accredited sale

R&Q’s share price has risen 13 percent in early trading following confirmation the company is in advanced discussions with Canadian private equity firm Onex Corporation over the sale of its hybrid fronting business Accredited.

Storebrand sells stake in Ergo joint venture for $101.5mn

Oslo-listed Storebrand has entered into an agreement with Munich Re’s German property and casualty insurer Ergo to sell its 50 percent stake in Storebrand Helseforsikring.

Gallagher acquires California trucking specialist Ace Commercial

Arthur J Gallagher has acquired Corona, California-based Ace Commercial Insurance Center, a specialist broker serving the trucking industry primarily in southern California.

Brown & Brown continues MGA build-out with Occam Underwriting acquisition

US intermediary Brown & Brown has agreed a deal to acquire 100 percent of the share capital of London-based MGA and Lloyd’s coverholder Occam Underwriting.

Brit shows blueprint on how Apollo may exit $3.5bn+ Aspen

Aspen’s successful turnaround under the leadership of Mark Cloutier has seen the company return to profitability and reposition itself – in Cloutier’s own words – as a “dynamic portfolio operator” poised to take advantage of a prolonged hard market.

Gallagher to acquire Eastern Insurance for $510mn

Arthur J Gallagher has agreed a deal to acquire Eastern Insurance – a subsidiary of Boston-based Eastern Bank and which generated $99mn in revenue last year – for $510mn in cash consideration.

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M&A