Latest Transaction Notices

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

NEW YORK, January 6, 2023 – R&Q Insurance Holdings Ltd (“R&Q”) and Obra Capital, Inc. (“Obra”) today announced that they have acquired, through a newly formed joint venture, a wholly owned subsidiary of global safety equipment manufacturer MSA Safety Incorporated (“MSA Safety”).  The acquired subsidiary (the “Company”) holds product liability claims relating to coal … [Read more...] about R&Q and OBRA Invest in Joint Venture to Acquire Legacy Liabilities of MSA Safety

AXA Spain, a division of the global insurance group, has entered into exclusive negotiations with Groupe des Assurances du Crédit Mutuel for the potential takeover of Groupe Assurances du Crédit Mutuel España (GACM España), its predominantly P&C and health insurance subsidiary in Spain. AXA is looking to acquire GACM España for a cash consideration of €310 million, which … [Read more...] about AXA eyes growth in Spain with acquisition of GACM España

Argo to receive total cash proceeds of approximately $125 million. Transaction will simplify corporate structure and drive greater efficiencies with increased focus on core U.S. businesses. Transaction expected to close in first half of 2023. HAMILTON, Bermuda – September 8, 2022 – Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or “the company”) today … [Read more...] about Argo Group Announces Sale of Lloyd’s Syndicate 1200 to Westfield

Premia Holdings Ltd., the Bermuda-based run-off specialist, announced that Premia Syndicate 1884 has entered into a loss portfolio transfer agreement with Hiscox Syndicate 33. The portfolio consists of a diverse mix of business underwritten by Syndicate 33 during years of account 1993 to 2018. Financial details of the transaction, which is retroactively effective to Jan. … [Read more...] about Run-off Specialist Premia Completes Loss Portfolio

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