mergers & acquisitions

Fresh capital raising for 2019 in its Upsilon vehicle has taken RenaissanceRe’s third-party reinsurance and insurance-linked securities (ILS) capital under management close to $5 billion.

Reinsurance firm and third-party capital manager RenaissanceRe grew its insurance-linked securities (ILS) assets under management (AuM) by $500 million in 2018, with much of the increase coming from its recently launched Vermeer Reinsurance Ltd. strategy as well as growth in its Upsilon vehicle.

The acquisition of Bermuda headquartered insurance and reinsurance group Aspen Insurance Holdings by funds under the management of private equity and alternative investment specialist Apollo Global Management, LLC, has now been completed.

Bermudian reinsurance firm and third-party capital manager RenaissanceRe is forecast to gain market share in insurance-linked securities (ILS) management by the equity analysts at Keefe, Bruyette & Woods.

Miller Insurance Services LLP, the London broker majority owned by Willis Towers Watson (WTW), has completed its acquisition of Lloyd’s accredited and London headquartered insurance and reinsurance broker Alston Gayler (AG).

Insurance and reinsurance broker Ed Broking Group is set to have a new Chief Executive Officer for London in Andrew Draycott, once the firm’s acquisition by BGC Partners is completed, as current Group CEO Steve Hearn moves up to lead the BGC Partners insurance division.

Insurance and reinsurance broking group and advisory Willis Towers Watson (WTW) is closing down its Securities mergers & acquisitions (M&A) advisory unit, as it’s understood that this business as a distinct unit does not fit the strategic direction of the company anymore.

RenaissanceRe’s CEO said that as part of the Bermudian reinsurance firm and third-party capital manager’s acquisition of Tokio Millennium Re it will, alongside Tokio Marine, offer continuity to the fronting cedants and business partners for a defined period.

RenaissanceRe, the Bermudian reinsurer and third-party reinsurance capital management veteran, is set to acquire the Tokio Millennium Re reinsurance operations of Japanese giant Tokio Marine, in an acquisition valued at $1.5 billion that brings together an ILS capital manager and a leading reinsurer that also operates as an ILS facilitator.

Interesting mergers & acquisitions (M&A) news this morning as insurance and reinsurance broker Ed Broking Group announced that it is being acquired by financial broking and technology house BGC Partners.