M&A

GRP’s County makes fourth acquisition with swoop for Taylor Francis

GRP-owned County Group has continued its run of recent acquisitions with a deal to buy the business and assets of UK commercial broker Taylor Francis.

Howden Tiger: What they said…

If there is one thing that is certain about the Howden Tiger combination, it is that its leadership will continue to be among the most quotable in the (re)insurance industry.

Howden Tiger to become a reinsurance talent magnet, predicts Fox

The tie-up between London-based Howden Re and US-headquartered TigerRisk is set to create a unique proposition for talent in the global reinsurance broking industry, offering a formidable alternative to the “Big 3” intermediaries, management from both sides predict.

Alleghany stockholders approve Berkshire Hathaway takeover

Alleghany has announced that the overwhelming majority of stockholders have voted in favour of Berkshire Hathaway takeover.

Interview: Howden and Fox on the $1.6bn “game changer” reinsurance tie-up

The entrepreneurial duo behind Howden Tiger say the transformational transaction brings together similar cultures that are a clear competitive advantage for a combined firm that will be of unique relevance to talent, clients and markets.

Keystone Agency Partners expands in Florida with Keyes deal

Insurance broking platform Keystone Agency Partners (KAP) has acquired a majority stake in independent personal and commercial insurance agency Keyes Coverage, a deal that expands KAP’s presence in Florida and in wholesale distribution and manufacturing lines of coverage.

Zywave buys agency management systems provider SIS

Zywave has acquired Columbus, Ohio-based Strategic Insurance Software (SIS), a provider of web-based agency management systems and customer relationship management solutions for P&C insurance agencies.

Howden confirms $1.6bn deal to buy TigerRisk

Howden has confirmed it is buying the US-based reinsurance intermediary TigerRisk, in a landmark deal it said will position the overall group as a global firm placing $30bn of premium into the market with an enterprise value of more than $13bn.

Rod Fox confirms landmark $1.6bn Howden deal in memo to clients

TigerRisk has confirmed it has struck a deal to be acquired by London-based broking behemoth Howden group, in a landmark deal that is set to create a platform that sources said will have estimated revenues close to $400mn, making it the fourth largest reinsurance intermediary in the world.

The M&A deals that shape the reinsurance broker market today…

Last month, news emerged the uber-acquisitive Howden Group was in advanced talks to acquire the independent US reinsurance intermediary TigerRisk Partners, creating the prospect of an ambitious new challenger to the hegemony enjoyed by the “big three”: Aon, Guy Carpenter and Gallagher Re.

Alera buys $3.5bn AUM wealth services firm Wharton Business Group

The parent company of top-20 US retail broking house Alera has acquired Wharton Business Group (WBG), an employee-owned wealth services firm in Pennsylvania that manages more than $3.5bn in assets for business owners and institutions.

Johnson & Johnson to buy Midlands wholesale and MGU divisions

Allianz facing €400mn hit as sells majority stake in Russian business to Zetta

Allianz is selling the majority stake it holds in its Russian platform to local property and casualty carrier Zetta Insurance in a move the German business expects will have a negative impact of around €400mn ($429mn).

AM Best ends review on fronting carrier Sutton after Brickell-R&Q deal breaks down

AM Best said it has removed from under review with developing implications the A- financial strength and a- credit ratings of Sutton Specialty, Sutton National and other related entities after parent Brickell PC Insurance Holdings’ move to buy Randall & Quilter Investment Holdings did not go ahead.

Hub buys Sandy Spring Insurance

Expansive US intermediary Hub International has acquired the assets of Sandy Spring Insurance Corp from its banking parent.

Marsh McLennan Agency bolsters New England foothold with Clark acquisition

Marsh McLennan Agency (MMA) has strengthened its operations in New England with the acquisition of Portland, Maine-headquartered Clark Insurance.

The success of Howden Tiger will ultimately be measured by its treaty inroads with global clients

It takes courage to stand out against the herd but this is precisely what Rod Fox did in 2008 when he launched TigerRisk.

Fox, Bredahl and Ronda to take senior leadership positions at Howden Tiger

TigerRisk founder Rod Fox, CEO Rob Bredahl and president Tim Ronda will retain senior leadership positions in the combined Howden Tiger business with talks between the two firms expected to conclude in an announcement shortly, The Insurer understands.

Generali CEO quashes speculation about UniCredit merger: reports

Generali CEO Philippe Donnet has dismissed rumours of a merger with Italian banking group UniCredit, after persistent press reports about interest from French companies in taking control of the Italian insurer, according to Reuters.

Investors snub reinsurers amid return to high volatility

A prolonged period of underwriting losses has dampened investor appetite for reinsurance businesses without a distinguished value proposition in the current volatile market.

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M&A