Swiss Re to sell ReAssure to Phoenix Group in £3.25bn deal
Swiss Re has agreed a deal to sell its majority stake in UK closed life business ReAssure to consolidator Phoenix Group Holdings in a deal which values the unit at £3.25bn ($4.27bn).
KBW upbeat on Swiss Re’s ReAssure deal
Swiss Re’s deal to sell its majority stake in UK closed life business ReAssure to consolidator Phoenix Group Holdings - values the unit at £3.25bn ($4.27bn) – has been broadly welcomed by analysts at Keefe, Bruyette & Woods (KBW).
Aston Lark acquires Wright Insurance Brokers
Goldman Sachs-backed Aston Lark has acquired Irish commercial broker Wright Insurance Brokers.
Vibe specialty head Glasse departs for StarStone
StarStone has appointed former Vibe Syndicate Management’s specialty risk solutions class underwriter Henry Glasse as specialty underwriter, The Insurer can reveal.
Gallagher acquires Brown & Brown Pacific Northwest marine unit
Arthur J Gallagher has completed a deal to hire the Pacific Northwest marine broking team and book of business of Washington-based Brown & Brown.
RenRe engages TigerRisk and Morgan Stanley to sell UK legacy book
RenaissanceRe has appointed TigerRisk and Morgan Stanley to find a buyer for its £396mn ($514.6mn) UK legacy book which the (re)insurer inherited through its $1.5bn acquisition of Bermudian neighbour Tokio Millennium Re.
Kaufman to acquire Lloyd’s carrier Barbican’s UK MGA
HW Kaufman Group, the US intermediary that owns wholesaler Burns & Wilcox, is poised to acquire a UK MGA owned by Barbican once the Lloyd’s insurer’s sale to Bermudian Arch Capital completes.
Clock ticking for Gallagher to trigger Capsicum Re buyout option
Time is running out for AJ Gallagher (AJG) to call in its option to acquire the 80 percent it doesn’t currently own in the London market reinsurance intermediary Capsicum Re.
GRP acquires Gauntlet Insurance Services
UK broker consolidator Global Risk Partners (GRP) has acquired London-based private client broker Gauntlet Insurance Services.
Gallagher acquires Brown & Brown Pacific Northwest marine unit
Arthur J Gallagher has completed a deal to hire the Pacific Northwest marine broking team and book of business of Washington-based Brown & Brown.
RenRe engages TigerRisk and Morgan Stanley to sell UK legacy book
RenaissanceRe has appointed TigerRisk and Morgan Stanley to find a buyer for its £396mn ($514.6mn) UK legacy book which the (re)insurer inherited through its $1.5bn acquisition of Bermudian neighbour Tokio Millennium Re.
1347 PIH considers options after FedNat closes Maison acquisition
FedNat Holding Company has completed the $51mn acquisition of the homeowners insurance operations of 1347 Property Insurance Holdings (1347 PIH), with the seller transforming into a holding company of reinsurance and investment management businesses.
Pioneer becomes fourth full syndicate to close since Hancock warning
Pioneer Syndicate 1980 has become the fourth full syndicate to close following a Lloyd’s market meeting in May 2018 when the Society’s head of underwriting Jon Hancock launched remedial action to turn around the performance of the market and warned that a tougher regime would lead to syndicate closures.
Argo: Just a coincidence?
The timing of the Watson and Noonan departures may not have any significance but the Argo vacancy could be attractive for a seasoned executive looking for a platform in a fast-improving market dynamic…