mergers & acquisitions

GAM Holding AG, the parent company to global asset manager GAM Investments, is to be acquired by specialist fund management group Liontrust, with all of its investment funds set to be rebranded, which will presumably include its large GAM Star Cat Bond Fund and other ILS strategies it manages.

Kelvin Re Limited, the previously ILS capital backed Guernsey based reinsurance company, is not expected to form a part of its new owner TD Bank’s long-term plans, which has led rating agency AM Best to be cautious on the outlook for the company.

Warren Buffett’s conglomerate and re/insurance company Berkshire Hathaway delivered an underwriting loss for 2022 in its results this weekend, but the benefits of the strategy of accumulating “free” investment float are again evident and the acquisition of Alleghany Corporation has helped to bulk this out even further.

The acquisition of hybrid P&C program, fronting and risk transformation company, Transverse Insurance Group, by MS&AD Holdings, through its Mitsui Sumitomo Insurance unit, has been completed, with the pair now targeting growth through this relationship.

Insurance and reinsurance broking group BMS has now secured a growth investment of up to £355 million from Eurazeo, a global investment company with €32.4 billion in assets under management.

Independent specialty insurance program manager K2 Insurance Services, the parent and service provider to MGA’s K2 CAT and K2 Parametric, has announced that it is being acquired by global growth investor Warburg Pincus.

According to a report yesterday from Bloomberg, the main investor backers of insurance and reinsurance broking group BMS are considering a sale of the company, with a US $720 million price tag (UK £600m) cited, but we’re told it’s more likely the company is looking to build out its capital base to fund future growth, […]

Having been acquired by New York headquartered financial services group Cowen, the Guernsey based, previously Credit Suisse Insurance Linked Strategies supported reinsurance company Kelvin Re Limited remains under review, from a ratings perspective, given uncertainty related to its parent and the eventual strategy it will take.

The rumoured acquisition of hybrid P&C program, fronting and risk transformation company Transverse Insurance Group by MS&AD Holdings, through its Mitsui Sumitomo Insurance unit has now been confirmed, as the firms made a joint announcement this morning.

This weekend it was reported that Japanese insurance group MS&AD Holdings, through its Mitsui Sumitomo Insurance unit, has made an at least $400 million bid to acquire hybrid P&C program, fronting and risk transformation company Transverse Insurance Group.