Neon to stay under AFG ownership as sales process pulled
The process to find a new strategic investor for Neon has been pulled after a recent proposed transaction – thought to involve PE firm Madison Dearborn – was seen as not sufficiently valuing the Lloyd’s insurer.
Gallagher takes minority stake in Czech broker Renomia
Gallagher has purchased a minority stake in Czech-domiciled insurance broker Renomia for an undisclosed sum.
Glatfelter to transfer $450mn book to AIG paper by 1.1
Program manager Glatfelter is in the process of transitioning the portfolio of business it currently writes on Munich Re paper to the balance sheet of its new owner AIG by 1 January 2020, The Insurer can reveal.
Insurance M&A specialist Waller Helms buys StoneRidge Advisors
Insurance-focused investment bank Waller Helms Advisors (WHA) has acquired boutique firm StoneRidge Advisors in a move it says will meaningfully enhance its platform and ability to deliver market-leading results for clients.
Allianz sells Spanish distribution rights to Santander for Eur936mn
Allianz and Banco Santander have entered an agreement for the German insurance giant to end its participation in Allianz Popular – its life insurance, pensions, asset management, and non-life insurance in business Spain for Eur936.5mn ($1.07bn).
Terra Brasis Re and Austral Re to form Brazil’s second-largest reinsurer
After almost a year of negotiations, Brazilian reinsurer Austral Resseguradora SA will acquire Terra Brasis Resseguros SA which, upon completion, will create the second-largest reinsurer in Brazil.
Neon to stay under AFG ownership as sales process pulled
The process to find a new strategic investor for Neon has been pulled after a recent proposed transaction – thought to involve PE firm Madison Dearborn – was seen as not sufficiently valuing the Lloyd’s insurer.
Samsung to take “strategic stake” in top-five Lloyd’s insurer Canopius
Korean insurer Samsung Fire & Marine Insurance (SFMI) has taken a strategic stake in top five Lloyd’s carrier Canopius and said it is a major step in its international ambitions.
BGC Partners pulls out of RFIB sale process
BGC Partners has pulled out of the sale process for RFIB Insurance Brokers, The Insurer can reveal. In late March, this publication revealed that BGC Partners and AmWINS were frontrunners in the Calera Capital-run process.
Glatfelter to transfer $450mn book to AIG paper by 1.1
Program manager Glatfelter is in the process of transitioning the portfolio of business it currently writes on Munich Re paper to the balance sheet of its new owner AIG by 1 January 2020, The Insurer can reveal.
Insurance M&A specialist Waller Helms buys StoneRidge Advisors
Insurance-focused investment bank Waller Helms Advisors (WHA) has acquired boutique firm StoneRidge Advisors in a move it says will meaningfully enhance its platform and ability to deliver market-leading results for clients.
Terra Brasis Re and Austral Re to form Brazil’s second-largest reinsurer
After almost a year of negotiations, Brazilian reinsurer Austral Resseguradora SA will acquire Terra Brasis Resseguros SA which, upon completion, will create the second-largest reinsurer in Brazil.
A brief history of Canadian pension funds’ love of insurance
Canadian pension funds in recent years have made large direct investments in insurance players like Ascot, Allied World, AmWINS and USI. The signs are that investment activity may increase this year.