All M&A articles
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NewsPE firm Thoma Bravo ups bid for software provider Majesco to $729mn
Private equity house Thoma Bravo has increased its bid for Majesco, with the deal now valuing the cloud insurance software solutions company at $729mn.
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News
R&Q sells Bermuda reinsurer Sandell Re to NY MGA Tradesman; takes 35% stake
Less than a year after acquiring Sandell Re, the legacy and program manager R Q has sold the Bermudian reinsurer to a US MGA in a transaction that will see the platform continue to be used to underwrite live business while guaranteeing future fronting fees for the London-listed group.
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News
AM Best notes CMIG risk in SiriusPoint while investors send both stocks soaring
Ratings agencies and investors have been responding to Third Point Re’s announced $788mn acquisition of Sirius International Insurance Group, with AM Best and S P both commenting on the role of China Minsheng Investment Group (CMIG) and the share prices of both (re)insurers increasing.
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Analysis
Sankaran looks to refocus and reinvigorate merged SiriusPoint
Third Point Re and Sirius have revealed further details of their merger in an investor presentation and call, including outlining what the combined entity will look like and detailing the role of hedge fund Third Point LLC, while Sirius investors have sent its share price soaring.
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News
R&Q completes NationsBuilders acquisition
London-listed Randall Quilter Investment Holdings (R Q) has completed its acquisition of Washington DC domiciled captive NationsBuilders Insurance Company (NBIC) through its wholly owned Vermont subsidiary ICDC.
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News
Sirius CEO says Third Point Re deal lays foundation ‘for long and successful future’
Sirius International’s president and CEO Kip Oberting has called the merger deal struck between his firm and Third Point Re “a positive outcome for our shareholders, clients and employees”.
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News
New Bermudian (re)insurer SiriusPoint formed by $788mn merger of TPRe and Sirius
Third Point Re and Sirius International have entered into a definitive agreement to merge in a $788mn cash and stock transaction, with the combined business named SiriusPoint and Sid Sankaran to serve as its chairman and CEO.
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News
Higginbotham expands into California with two buys
Expansive Texas-based broker Higginbotham has entered partnerships with two California insurance advisory firms that serve the corporate and affluent individual client marketplace.
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News
Patriot adds 40-person California agency Bowermaster
US insurance agency Patriot Growth Insurance Services has added Bowermaster and Associates to the Patriot platform.
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News
Darag acquires motor and travel insurance company
Run-off specialist and legacy acquirer Darag has acquired Luxembourg-based automobile and travel insurance company Arisa Assurances SA (Arisa).
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News
Gallagher buys Canadian retail broker Insight
Arthur J Gallagher has announced the acquisition of Edmonton, Alberta-based Insight Insurance Risk Management, which has expertise in the construction, real estate, hospitality, sports and entertainment industries.
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News
Korean Re partners with Carlyle Group to develop co-insurance solutions
South Korea’s leading reinsurer Korean Reinsurance Co has formed a strategic alliance with US-based global investment firm The Carlyle Group to jointly develop co-insurance products tailored for Korean insurers.
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News
Moody’s gives Sampo greenlight on Eur1.3bn Hastings’ buy-out plan
Sampo, the Nordic insurer which operates through brands including IF P C Insurance and Topdanmark, received a boost from Moody’s today following news of its recommended £1.66bn proposed acquisition of UK motor insurer Hastings.
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News
SkyKnight builds out insurance portfolio with Patra strategic investment
Private equity firm SkyKnight Capital has continued to expand its (re)insurance industry portfolio through a strategic investment in technology-solutions provider Patra.
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News
Sampo agrees £1.66bn buy-out of UK motor insurer Hastings
The Nordic insurance group Sampo has said its desire to grow in Europe has prompted its £1.66bn acquisition of UK motor insurer Hastings which was recommended by the London-listed company’s Board today.
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News
Atlas Financial to reduce staff up to 40% following new Buckle deal
Commercial auto insurer Atlas Financial Holdings has revealed that steps to reduce expenses as part of its transition to an MGA include laying off or furloughing 30 percent to 40 percent of its staff, following an agreement to sell two more indirect subsidiaries to insurtech Buckle.
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News
Aon and WTW amend proxy statement in response to shareholder suits ahead of vote
Aon and Willis Towers Watson (WTW) have amended the definitive proxy statement that will form the basis of the shareholder vote later this month on the combination of the two firms.
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News
Buckle raises $31mn in series A round co-led by HSCM and Eos
Buckle has raised $31mn in a series A funding round co-led by HSCM Bermuda and venture capital firm Eos Venture Partners, with the rideshare insurtech also continuing to build out its insurance balance sheet capabilities with a deal to buy two more Atlas subsidiaries.
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News
NFP makes one of its largest acquisitions with Rose & Kiernan buy
US broker NFP has added about $50mn of revenues with the acquisition of Albany, New York-based Rose Kiernan, as it continues to grow its business after revenues went through the $1.5bn mark in the 12 months to March 2020.
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News
Worldwide Facilities buys Florida surplus lines MGA Clearwater
US wholesale insurance broker Worldwide Facilities has expanded its program offering with the acquisition of Clearwater Underwriters, a Florida-based surplus lines MGA.
