Transaction Notices

January 17, 2024 – Carrick Group Limited (“Carrick”), a Bermuda-based international non-life legacy insurance business providing reinsurance and run-off solutions, today announced that Carrick Re Limited, a Bermuda class 3A reinsurer, has entered into a loss portfolio transfer with IRB(Re), a Brazilian private reinsurance company, on behalf of its UK Branch, ahead of a Part VII … [Read more...] about Carrick Group Announces LPT with IRB(Re)

Bermuda-based legacy insurer R&Q Insurance Holdings has signed a loss portfolio transfer (LPT) reinsurance agreement with a UK motor insurer. The signed agreement covers a net reserve of $80 million. The transaction is subject to regulatory approvals and other conditions of closing. Huw Battrick, co-head of legacy M&A at R&Q, commented: “We are pleased to … [Read more...] about R&Q completes LPT with UK motor insurer

Arrowood Indemnity Co., the runoff U.S. insurance operation of Royal & Sun Alliance Insurance Group PLC, was placed into liquidation on Thursday by the Chancery Court of Delaware. Arrowood estimated that for the third quarter, its projected future claims and expenses exceeded its assets by about $17 million, according to the complaint seeking liquidation that was filed … [Read more...] about Royal & Sun Alliance US runoff Arrowood placed into liquidation

GREENSBORO, N.C.–(BUSINESS WIRE)– Arch U.S. MI Holdings (Arch MI), a wholly owned subsidiary of Arch Capital Group Ltd., today announced it has entered into a definitive agreement to acquire RMIC Companies, Inc. (RMIC) and its subsidiaries that together comprise the run-off mortgage insurance business of Old Republic International Corporation. Once the transaction is … [Read more...] about Arch MI to Acquire RMIC Companies, Inc.

Compre Group Holdings Limited (“Compre”), the Bermuda headquartered international legacy group, today announces the completion of its acquisition of the Irish subsidiary of Covéa, Medical Insurance Company DAC (MIC), which provided insurance policies covering professional medical malpractice risks. MIC entered into run-off in 2015. Read More... … [Read more...] about Compre completes acquisition of Covéa subsidiary

HAMILTON, Bermuda, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly-owned subsidiaries has signed an agreement with American International Group, Inc. (“AIG”) to provide AIG with protection against adverse development on the portion of Validus Re’s loss reserves that AIG retains exposure to following the closing of … [Read more...] about Enstar Announces Adverse Development Cover Agreement with AIG

SiriusPoint Ltd., the Bermuda-based re/insurer, announced it has completed a ground-up loss portfolio transfer (LPT) of a portfolio of primarily reinsurance business with the legacy acquisition specialist Compre. This is the second LPT the companies have partnered on. Compre assumed approximately $1.3 billion of reserves and the LPT has been underwritten by Compre’s class 3B … [Read more...] about SiriusPoint Completes $1.3B Reinsurance Loss Portfolio Transfer With Compre

Legacy acquirer DARAG Group has concluded two transactions with undisclosed North American captive insurance companies. The first transaction was completed in May, with the second concluded in June. The transactions have been written into the group’s Bermudian insurance carrier, DARAG Bermuda. The mandate offers full legal finality for the US worker’s compensation book of … [Read more...] about DARAG completes two North America captive transactions

Acrisure said it has acquired TEn Insurance Services Ltd. As part of the acquisition, TEn will go to market as Eleven Network. The deal is expected to close in the near term, pending FCA regulatory approvals. Terms were not disclosed. Since 2005, TEn has been providing services for industry professionals operating as appointed representatives (ARs). Read More... … [Read more...] about Acrisure Acquires TEn, Will Go to Market as Eleven Network

HAMILTON, Bermuda, June 02, 2023 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly-owned subsidiaries has closed a previously announced Loss Portfolio Transfer agreement with RACQ Insurance Limited (“RACQ”) to reinsure 80% of RACQ’s motor vehicle compulsory third party insurance liabilities, covering accident years 2021 and … [Read more...] about Enstar Completes Loss Portfolio Transfer with RACQ

NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET) today announced it has entered into an agreement with Global Atlantic Financial Group (Global Atlantic), a retirement and life insurance company, to reinsure approximately $19.2 billion of U.S. retail universal life, variable universal life, universal life with secondary guarantees, and fixed annuity statutory … [Read more...] about MetLife Announces $19.2 Billion Risk Transfer Transaction; Further Increases Share Repurchase Authorization to $4 Billion

Compre Group Holdings Limited (“Compre”), the Bermuda headquartered international legacy group, today announces it has signed agreements to acquire a workers’ compensation legacy portfolio of SUNZ Insurance Company (SUNZ) for an undisclosed sum. The transaction, approved by the Bermuda Monetary Authority, is structured as a loss portfolio transfer and has been underwritten … [Read more...] about Compre acquires workers’ comp portfolio from SUNZ

March 31, 2023 – Hamilton, Bermuda – FGH Parent, L.P (“Fortitude Re”), has announced the closing of two reinsurance transactions with leading Japanese life insurance companies. Both block reinsurance deals, executed through one of Fortitude Re’s Bermuda-based subsidiaries, Fortitude International Reinsurance Limited, are comprised of whole life insurance policies. The … [Read more...] about Fortitude Re Continues International Expansion Through Two Reinsurance Transactions in Japan

Bermuda-based specialty P&C insurer Argo has announced that its shareholders have voted to approve an agreement for the company to be acquired by Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry. The all-cash acquisition proposal, made by Brookfield Reinsurance back in February, values Argo … [Read more...] about Argo shareholders approve merger with Brookfield Reinsurance

HAMILTON, Bermuda, April 07, 2023 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that its wholly-owned subsidiaries have closed a Loss Portfolio Transfer transaction with certain subsidiaries of QBE Insurance Group Limited (“QBE”) on a diversified portfolio of business, covering International and North America financial lines, European and North … [Read more...] about Enstar Completes Loss Portfolio Transfer With QBE

SiriusPoint Ltd. (“SiriusPoint”), NYSE-listed (SPNT) global underwriter, and Compre, the Bermuda headquartered international legacy group, today announce that they have signed an agreement for a ground-up Loss Portfolio Transfer (“LPT”) on a diversified portfolio of primarily reinsurance business. The transaction’s inception is subject to regulatory approvals and other … [Read more...] about SiriusPoint and Compre announce second significant reinsurance Loss Portfolio Transfer

HAMILTON, Bermuda, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that its wholly-owned subsidiaries have reached an agreement for a ground-up Loss Portfolio Transfer (“LPT”) with certain subsidiaries of QBE Insurance Group Limited (“QBE”) on a diversified portfolio of business, covering International and North America financial lines, … [Read more...] about Enstar to Enter $1.9 Billion Loss Portfolio Transfer with QBE

Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets, today announced the acquisition of MVP Advisory Group, LLC (“MVP”), the consulting business specialising in advisory & transformation projects for the property & casualty and life & health insurance markets. With headquarters in Chicago, … [Read more...] about Davies strengthens its global consulting and technology capability through the acquisition of US based insurance specialist consulting business MVP Advisory Group

Pembroke, Bermuda, December 15, 2022 - RiverStone International today announced that it has entered into loss portfolio transfer (“LPT”) reinsurance agreements with affiliates of AXIS Capital Holdings Limited ("AXIS Capital" or “AXIS” or “the Company”) (NYSE: AXS), which cover several of its professional lines and liability insurance portfolios, predominantly relating to 2019 … [Read more...] about RiverStone International Announces Loss Portfolio Transfer Deal with AXIS Capital