Bolttech to leverage Vyrd tech and knowledge following full acquisitionBolttech’s move to buy out SiriusPoint’s 50 percent stake in Vyrd will allow it to use technology and other knowledge from the Florida homeowners carrier to serve customers of its growing platform, which currently quotes over $50bn in premium annually, the insurtech has said.
Onex completes Accredited acquisition as Enstar confirms reinsurance dealOnex Partners has announced the completion of its deal to acquire Accredited, the program management arm of R&Q.
Ardonagh completes $1.2bn Atlanta merger with MarkerstudyArdonagh has completed the merger of its personal insurance broking business Atlanta Group with MGA/intermediary Markerstudy.
Bolttech’s Kole to buy out 50% SiriusPoint stake in FL carrier VyrdBolttech-owned and Rob Schimek-led Kole Inc has been approved by Florida regulators to buy out SiriusPoint’s 50 percent stake in the parent of homeowners carrier Vyrd Insurance Company, The Insurer understands.
Enstar to reinsure Accredited sale II as R&Q liquidation hearing takes placeOnetime R&Q rival and Nasdaq-listed legacy acquisition company Enstar will provide the reinsurance to enable the renegotiated sale of the fronting carrier Accredited to Onex Corporation, The Insurer can reveal.
SRG acquires specialist broker SISLFast-growing intermediary Specialist Risk Group has acquired specialist schemes broker Strategic Insurance Services Limited, in the consolidator’s first deal since it was acquired by Warburg Pincus and Temasek.
AIG to sell global personal travel business to Zurich to create $2bn combined brandAIG has entered into a definitive agreement to sell its global individual personal travel insurance and assistance business to Zurich Insurance Group for $600mn in cash, plus additional earn-out consideration.
PCF Insurance Services acquires four new businessesPCF Insurance Services has acquired four new businesses: Pennsylvania-based Ignitist, North Carolina-based Brady Agency, Mississippi-based Roseberry Insurance Agency, and Iowa-based Sinnott Agency.
Perwyn buys UK intermediary Atec from PE house Kester CapitalEuropean private equity investor Perwyn has acquired UK intermediary/MGA Atec Group from Kester Capital in an off-market transaction.
Gallagher’s captive arm Artex acquires ICSRArthur J Gallagher’s captive and alternative risk transfer subsidiary Artex has acquired London-based insurance consulting firm Implement Compliance Solutions and Resources.
R&Q agrees Inceptum sale to Marco Capital as liquidation filing confirmedR&Q has agreed to sell UK-based legacy general insurer Inceptum to run-off specialist Marco Capital, as well as separately confirming its provisional liquidation filing in Bermuda.
Aon sells IP platform assets to former exec Lee’s MoatMoat Metrics, which was founded by former CEO of Aon’s IP Solutions, Lewis Lee, has acquired technology and intellectual property assets from the broking giant.
Topdanmark shareholder backs $4.7bn Sampo takeover bidTopdanmark’s second-largest shareholder 1832 Asset Management has thrown its support behind the takeover bid from Finnish insurer Sampo, which values its smaller rival at DKK33bn ($4.73bn).
PwC: Insurance Nov-Apr M&A activity falls to 145 transactionsThe number of M&A transactions in the insurance industry decreased to 145 for the six-month period from mid-November 2023 to April 2024, compared to 318 transactions recorded from mid-May 2023 to mid-November 2023, according to a recent report from PwC.
KAP acquires Keystone Insurers Group to create Kinney-led brokerage platformUS insurance brokerage platform Keystone Agency Partners has agreed a deal to acquire Keystone Insurers Group – which founded KAP in partnership with Bain Capital in 2020 – with Patrick Kinney to lead the combined organisation and David Boedker retiring from his longtime role as Keystone CEO.
R&Q to file for Bermuda liquidation in bid to complete delayed Accredited saleR&Q is to file for provisional liquidation in Bermuda in a bid to finally complete the long-delayed sale of its profitable fronting unit Accredited and to end a tumultuous period for the distressed firm.
Zurich acquires majority stake in India’s Kotak for $670mnZurich Insurance Group has completed its acquisition of a majority stake in India’s Kotak Insurance, becoming the first foreign insurer to enter the country after new rules were introduced in 2021.
Topdanmark shares jump 22% on $4.7bn Sampo bidShares in Topdanmark closed more than 22 percent higher in trading on Monday after Finnish insurer Sampo revealed it had agreed an all-share deal that valued its rival at DKK33bn ($4.73bn).
Allianz in talks with Singapore's Income Insurance on potential dealAllianz is engaged in talks which could see the European insurance giant acquire a stake in Singapore’s Income Insurance in a move which would bolster the insurer’s presence in the Asia Pacific region.
Sampo launches offer for remaining Topdanmark sharesSampo has made a best and final public exchange offer to acquire all of the outstanding shares of Topdanmark after the two Nordic insurers entered into a combination agreement.