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Founder and CEO of Nascent Andre Perez will join Sephira’s board of directors. -
Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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The business has been ~70% owned by White Mountains since January 2024.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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The leadership’s commentary spotlighted to value of ILS to the group.
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It is understood that CyberCube has been considering a sale of the business.
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The Japanese carrier faces integration challenges to make a success of the deal.
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Aspen Capital Markets earned $169mn in fee income in 2024 alone.
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The purchase brings Sompo an established ILS platform as part of the deal.
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The Bermudian firm has an active ILS division, unlike the Japanese conglomerate’s insurance divisions.
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The transaction is expected to close later this year.
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Nationwide will delegate management of the policies to Ryan Specialty.
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M&A and shifts in distribution arrangements bring risks and opportunities.
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The deal leaves premier surety as Travelers' sole Canadian portfolio.
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The reinsurer said the probe concerns the alleged involvement of its former chairman.
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The acquisition expands its global employee benefits business to ~4,000 global employees.
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Guernsey’s TISE listed the world’s first private cat bond issued by Solidum Re in 2011.
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The firm will match segregated accounts of portfolios to investor mandates.
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The combined entity ranks third in the Insurance Insider ILS leaderboard.
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Compressed cat bond spreads could drive some rebalancing, as M&A remains a prospect.
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The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.
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Casualty ILS made inroads, while hurricane hedging strategies came into focus.
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The Swiss-based team of Siglo has transferred to Cambridge Associates.
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Redington provides services to UK pension funds, wealth managers and institutional investors.
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The Risk International team will remain in its current location, under Jennifer Gallagher.
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The denial followed this publication’s report that Covéa had renewed its intentions to buy the reinsurer.
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The mutual’s approach comes as Scor continues efforts to fight back from performance issues including a flare-up in L&H.
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The transaction complements its previous acquisition of RMS in 2021.
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The deal will boost the investment consultancy’s ILS capabilities.
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Winning higher-fee private ILS mandates will strengthen firms’ negotiating positions.
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The deal will include Axa IM’s alternatives funds including ILS.
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The combined Twelve-Securis entity would be a top-five ILS firm currently.
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Urs Ramseier will be CEO and Herbie Lloyd CIO.
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The sale is expected to be completed by the end of the year.
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Sources said that Japanese big-three carrier Sompo and Italian insurance giant Generali are circling.
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Former Teneo M&A head Alexander Schnieders will lead the unit.
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The management’s buyback acquisition brings an end to the two-year relationship.
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GeoVera’s MGAs will sell to SageSure and insurance companies will merge with SafePort.
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The Lloyd’s legacy business has been placed up for sale, along with other units.
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The outlook for M&A activity is brighter after 2023 returns.
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Arm is based in Guernsey and has a Bermudan management licence.
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The newly launched Marco Re will be led by Mark Elliott as CEO.
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A non-binding term sheet was signed on October 6, whereby the buyer will acquire 100% of Interboro’s issued and outstanding securities in exchange for cash.
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BCCL will be rebranded to Nascent Advisory Services Ltd as part of the transaction.
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The private equity firm is targeting $1trn in assets under management for the combined segment.
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Frontier’s employees, including director and co-founder Peter Brodsky and CEO Derek Winch, will remain in their current roles.
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The two parametric businesses will be brought together as the UK and German governments sell out.
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The vehicle will focus on middle-market transactions in the US and Europe across the insurance value chain.
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The firm has moved to defend its plans against a rival strategy supported by a small group of investors.
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The carrier has agreed to acquire the former Credit Suisse ILS unit, following the acquisition of sister company Humboldt Re in 2021.
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Financials Acquisitions Corp is looking to extend its merger deadline and raise “substantial” extra funds.
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Removing any competitor is a positive for ILS peers in a competitive time for fundraising, but it is not clear how much of a boost this will give RenRe.
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The takeover will push it up two places to rank as the fifth-largest writer of P&C reinsurance by gross premium.
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AIG will invest a significant amount into Fontana and DaVinci.
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The Bermudian reinsurer launched a public offering of 6,300,000 common shares and anticipates raising around $1.15bn to finance the transaction.
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The deal includes AIG's AlphaCat platform.
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The AJ Gallagher-owned ILS services provider is expanding its footprint globally.
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The non-catastrophe ILS platform hit a valuation of $1bn after a Series C funding round.
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The acquisition gives UK asset manager Liontrust a broader European footprint and cat bond products.
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Bay Risk will become part of Gallagher Re’s Global Programmes practice group, led by Andrew Moss.
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The reinsurer said in its Q4 earnings call that Argo’s takeover further diversifies its operations and adds a foundational piece to its expanding P&C activity in the US.
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The international reinsurance unit booked almost EUR1bn in revenue in 2022.
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Bowood managing director Stephen Greener will chair the entity, which is to place $6bn in GWP.
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Vesttoo's aim for the partnership is to bridge the gap between the insurance and capital markets, scaling insurance-linked investments as a source for reinsurance capacity.
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The acquisition will enable the Japanese carrier to expand further into the US and across a host of insurance lines, including property and marine.
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There is no guarantee that the process will yield a particular transaction.
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The former Chubb exec will remain on the board as an independent director, along with president and CEO Jacques Bonneau.
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The French mutual’s CEO Thierry Derez and chief of staff Sylvestre Frezal said the deal is a strategic move to adapt to new forms of risk.
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Kiln and UPC partnered to form the insurer in 2018, but it was merged into American Coastal earlier this year
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FedNat will retain a minority interest along with representation on the board.
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Elliott Management, the other key suitor for the business, is understood to have dropped out of the auction.
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This is UPC’s latest attempt to downsize after offloading part of its personal lines business to HCI.
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After securing a $1.6bn deal to acquire TigerRisk, Howden said the transaction will create a “much-needed fourth global player” in reinsurance.
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This publication first revealed that the two parties were working on the deal last month.
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Sources indicated talks have been conducted using an adjusted Ebitda figure for TigerRisk of around $85mn-$90mn, which is far higher than previously thought.
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It is understood that the highest bidder was a consortium formed by Fortitude and Global Atlantic.
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A takeover would boost Howden’s burgeoning reinsurance portfolio.
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The deal propels HSCM total AuM and capital commitments to above $4bn.
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Many hybrids, unless they are willing to take a meaningful financial hit to secure a divestiture, will have to stick with their reinsurance businesses through the current cycle.
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The carrier also revealed $30mn in Russia-Ukraine Q1 losses.
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Jefferies has been awarded the mandate to seek a buyer for the segment.
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Acrisure entered into a definitive agreement with Markel in March to acquire the MGA.
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The retro fund has redeemed 99% of share capital, returning around $106mn to public fund investors.
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The deal will also provide $100mn in new equity funding to the legacy carrier.
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The purchaser is known for having a very low cession ratio, although it said it would leave Alleghany to operate independently.
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The acquirer has forecast premiums of $1bn by 2025 at the multi-class coverholder
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The transaction will create a reinsurance entity roughly on a par with Scor in terms of net reinsurance premium.
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The deal values the TransRe owner at 1.26 times book value as of 31 December 2021, and represents a 29% premium on its stock price.
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Completion of the buyout remains subject to US bankruptcy courts recognising the agreement.
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The new company will focus on expanding into US coastal areas.
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The firm has been in run-off since late 2020, and another former Credit Suisse affiliate was recently sold to legacy writer Marco.
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