Latest Transaction Notices

Compre, the Bermuda headquartered, international legacy group, today announces it has acquired the hospital liability (“MedMal”) portfolio of German insurer Basler Sachversicherungs-AG (“Basler”), an entity of the Baloise Group, subject to regulatory approval by the German Federal Financial Supervisory Authority (“BaFin”). Terms of the transaction are not disclosed. The … [Read more...] about Compre enters European medical malpractice with German liability portfolio acquisition

A joint venture with grand potential just a few years ago appears to be ending, an apparent victim of the catastrophe reinsurance and investment markets. It comes after substantial catastrophe and investment losses. Enhanzed Reinsurance Ltd, the Class 4 and Class E Bermuda reinsurer, was launched several years ago through a partnership of insurance and reinsurance run-off … [Read more...] about Exit ramp for Enhanze Re?

LONDON, UK – 18 July 2022 – Davies, the leading specialist professional services and technology business serving insurance and highly regulated markets, today announces that it has completed its acquisition of Asta Capital (“Asta”), the market-leading third-party managing agent at Lloyd’s, following approval by regulators including Lloyd’s, the UK’s Financial Conduct and … [Read more...] about Davies completes acquisition of Asta at Lloyd’s to form insurance services powerhouse

French mutual insurer Covéa has completed the acquisition of global reinsurer PartnerRe from EXOR, the Agnelli family owned investment and holding company, for a total cash consideration of $9.3 billion (€8.6bn). After signing a Memorandum of Understanding (MoU) in October 2021, after an initial deal was terminated in May 2020 owing to the COVID-19 pandemic, the European … [Read more...] about Covéa completes deal to purchase PartnerRe from EXOR

Partnership creates a standout reinsurance and advisory business, bringing full capability and scale to Howden’s diversified and differentiated brokerage, MGA, capital markets and data & analytics proposition 9 June 2022 – Howden Group Holdings (“Howden Group” or the “Group”), a leading international insurance group, today announces the acquisition of TigerRisk … [Read more...] about Howden Group creates new $30bn force in global broking through landmark TigerRisk deal

Global insurer Zurich has agreed to sell its business in Russia to eleven of the unit’s team. The firm said that under its new owners, the business will operate independently under a different brand, while Zurich will no longer conduct business operations in Russia. The transaction will allow the new company to retain a professional team with accumulated insurance … [Read more...] about Zurich sells Russian business

FGH Parent, L.P., the ultimate parent company of Bermuda’s largest multi-line reinsurer (together with its subsidiaries, “Fortitude Re”), today announced the acquisition of Plans’ Liability Insurance Company, an Ohio-domiciled and widely licensed property & casualty insurer. This acquisition enables Fortitude Re to provide enhanced transactional flexibility and … [Read more...] about Fortitude Re Acquires U.S. Property & Casualty Insurer

Legacy acquirer, DARAG Group concluded a new agreement with an offshore captive insurance company, with the transaction value hitting the $10 million mark. The transaction structure was a novation, allowing the counterparty full legal finality, and has been written into DARAG North America, which will provide legal, economic and operational finality for the underlying US … [Read more...] about DARAG enters new North American captive transaction

Genesis Legacy Solutions (“GLS”), part of Maiden Holdings, Ltd. (NASDAQ: MHLD), announced today an agreement to provide a medical expense reimbursement cover to the Washington, D.C. cell of the Michigan based Mary Free Bed Rehabilitation Hospital (“MFB”). MFB has a facility network that spans 39 cities and specializes in value-based rehabilitation and post-acute care. This … [Read more...] about Genesis Legacy Solutions Completes Reinsurance Cover for Mary Free Bed Hospital

Randall & Quilter Investment Holdings Ltd (R&Q), the non-life global specialty insurance company focused on program management and legacy transactions, is set to be acquired by one of its major shareholders, in an acquisition backed by investment group 777 Partners. The acquisition will value Randall & Quilter’s (R&Q’s) existing issued share capital at … [Read more...] about R&Q to be acquired by 777 Partners backed Brickell PC Insurance

DARAG has acquired a Guernsey-based reinsurance captive, marking the group’s second transaction in Guernsey and reinforcing its position in the market and across Europe. Having been in run-off since 2019, the captive’s transaction with legacy acquirer DARAG is part of its cedant owner’s strategic alignment to streamline its business focus. The key business lines of the … [Read more...] about DARAG acquires Guernsey reinsurance captive

Reinsurance giant Swiss Re has acquired Champlain Reinsurance Company (Champlain Re), a Swiss based run-off reinsurance captive of Alcan Holdings Switzerland AG, a member of Rio Tinto Alcan, in a legacy transaction. Champlain Re’s remaining reinsurance liabilities consist mainly of General Liability and Workers’ Compensation exposures of the Rio Tinto Alcan Group. The … [Read more...] about Swiss Re acquires Champlain Re in legacy deal

 Genesis Legacy Solutions (“GLS”), part of Maiden Holdings, Ltd. (NASDAQ: MHLD), announced today an agreement to provide an adverse development cover (“ADC”) to Arizona-based Applied Medico-Legal Solutions Risk Retention Group (“AMS”). AMS provides medical professional liability coverage to individual physicians and physician groups, and today is one of the nation’s premier … [Read more...] about Genesis Legacy Solutions Completes ADC for AMS RRG

Fortitude Group Holdings, LLC, the parent of Bermuda-based reinsurer Fortitude Re, has now completed its takeover of AIG’s legacy insurance businesses following the acquisition of Fortitude Life & Annuity Solutions, Inc. (FLAS) and Fortitude P&C Solutions, Inc. (FPCS). It was announced in late November 2019 that the Carlyle Group and T&D Holdings had partnered to … [Read more...] about Fortitude Re finalises acquisition of AIG’s legacy insurance business

It’s a done deal for Premia Holdings and The Hartford, after the latter’s sale of Navigators Holdings (Europe) NV and its subsidiaries secured the required approvals from the National Bank of Belgium and the Commissariat Aux Assurances in Luxemburg. The acquired business, subsidiaries of which include Antwerp-headquartered property and casualty insurer Assurances … [Read more...] about The Hartford completes major sale

According to local reports, reinsurer Swiss Re is planning to make a Rs 920 crore (USD 123 million) investment in the Paytm Insuretech Private Limited (PIT) business of Indian financial services firm Paytm, through which it will take a 23% stake in the initiative. Paytm, which specializes in digital payment systems, e-commerce and finance, plans to leverage its customer base … [Read more...] about Swiss Re eyes stake in India’s Paytm Insuretech for $123mn

Genesis Legacy Solutions (“GLS”), part of the Maiden Holdings, Ltd. (NASDAQ: MHLD), today announced that it had issued its first Loss Portfolio Transfer Agreement through its Vermont cell to an affiliate of Cypress Property & Casualty Insurance Company. This agreement reinsures Cypress’ commercial general liability portfolio written in Florida and Texas from 2008 through … [Read more...] about Genesis Legacy Solutions announces its first Loss Portfolio Transfer

Resolution Life US Holdings has announced the signing of a $9.4 billion reinsurance transaction between its insurance subsidiary, Security Life of Denver Insurance Company (SLD) and The Lincoln National Life Insurance Company, a subsidiary of Lincoln National Corporation. The deal consists primarily of bank and corporate owned life insurance business alongside a smaller … [Read more...] about Resolution Life signs $9.4bn reinsurance deal with Lincoln Financial

HAMILTON, Bermuda, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed the purchase of the entire 27.7% interest in Enhanzed Reinsurance Ltd. (“Enhanzed Re”) previously held by an affiliate of Hillhouse Group. The purchase price of $217.1 million is based on 90% of Enhanzed Re’s total … [Read more...] about Enstar Completes Acquisition of Controlling Interest in Enhanze Re

Compre, the international specialist legacy group, and SiriusPoint have reached an agreement for Compre to acquire a $417 million portfolio of legacy liabilities. The transaction is structured as a loss portfolio transfer and will be underwritten by Compre’s class 3A Bermudian reinsurer, Pallas Reinsurance Company Ltd. (Pallas Re). The portfolio in question comprises … [Read more...] about Compre to acquire SiriusPoint legacy portfolio for $417mn