Insurance M&A forecast to slow over H1 2019After a buoyant 2018 the pace of insurance M&A is set to slow in the first half of this year as political and economic uncertainty across multiple regions detracts investors, according to forecasts.
Marsh names JLT’s Howett CEO of Irish business; Grogan takes exec chairBroker Marsh has named Joe Grogan as executive chairman of Marsh Ireland and Patrick Howett, currently managing director of JLT Ireland, as CEO.
Glaser shows the art of doing a deal…Dan Glaser is going to get a reputation as a clinical deal maker like Warren Buffett if he continues like this.
Shepard to consider bid after EMCI board rebuffGregory Shepard has told EMC Insurance Group (EMCI) he is prepared to bid for the company after contacting investors he says are able to make a superior offer to the $30 a share currently on the table from the US carrier’s mutual parent.
Maiden hit by $200mn Q4 reserve charge; delays 10-K filingMaiden Holdings has increased the loss reserves in its AmTrust segment by more than $200mn in the fourth quarter 2018 and expects to report a “significant operating loss” for the quarter and full year.
MMC sells JLT aerospace to Gallagher to ensure EU approval for £4.3bn dealLondon-headquartered broking house JLT is to sell of its aerospace business to Gallagher in a move to ensure European antitrust approval ahead of its landmark £4.3bn sale to MMC.
R&Q inks NNIS deal in swoop for Dutch aviation liabilitiesLondon-listed Randall & Quilter Investment Holdings has acquired the residual liabilities from UK based Nationale-Nederlanden Internationale Schadeverzekering (NNIS) from NN Group.
Cincinnati Financial closes $134mn Lloyd’s acquisitionCincinnati Financial has closed its acquisition of Munich Re’s Lloyd’s platform, MSP Underwriting Ltd.
Munich Re’s Ergo offloads Irish unit to AragGerman Legal expenses insurer Arag Group has acquired the business of Ergo-owned Das Legal Expenses Insurance in the Republic of Ireland.
Commercial auto drives Protective to Q4 lossProtective Insurance’s combined ratio in the fourth quarter was 112.2 percent, up from 99.3 percent in the fourth quarter of 2017.
FedNat to buy 1347’s Maison platform for $51mnFedNat Holding Company has agreed a deal to buy Maison Insurance Company (MIC) and other homeowners’ related entities from 1347 Property Insurance Holdings for $51mn.
Aquiline acquires US broker Relation Insurance ServicesAquiline Capital Partners has agreed a deal to buy Relation Insurance Services, a top 40 US agency, from private equity firms Parthenon Capital and Century Equity Partners
Apax to sell AssuredPartners back to GTCR-led groupPrivate equity firm Apax Partners is selling its stake in US broking house AssuredPartners to a group led by its former owners GTCR.
Donegal chief rules out buyout by mutual parentDonegal Group president and CEO Kevin Burke has ruled out the insurer’s mutual parent buying up the shares in its publicly traded subsidiary it doesn’t already own.
Wildfire-struck CIG agrees sale to Auto-Owners InsuranceCapital Insurance Group’s pending sale to Auto-Owners Insurance comes after a sharp decline in surplus at California-based CIG in the last two years driven by wildfire losses.
Qatar Re paid $140mn for MarkerstudyQIC-owned Qatar Re paid almost $140mn (QR513.2mn) to acquire UK motor insurer Markerstudy last year.
Former Aspen CEO O’Kane to get $10mn transaction bonusFormer Aspen CEO Chris O’Kane has been granted a $10mn bonus and former CFO Scott Kirk has been granted a $1mn bonus for assisting in the Bermudian (re)insurer’s $2.6bn takeover by Apollo Global Management.
Ascent backer Preservation Capital builds MGA platform with Cove investmentPrivate equity firm Preservation Capital Partners, the backers of MGA Ascent Underwriting, has invested in US construction-focused managing general agent Cove Programs.
Altamont in exclusive talks to buy TopaTopa Insurance Group has entered into exclusive talks with potential buyer Altamont Capital as the Californian carrier moves closer to a sale, The Insurer can reveal.
AmTrust to become “significant minority” Canopius shareholderAmTrust will become a “significant minority” shareholder in the PE-backed Lloyd’s insurer Canopius if it completes the sale of its Lloyd’s arm.