mergers & acquisitions

Adding the capital markets and insurance-linked securities (ILS) expertise acquired with TigerRisk Partners into the Howden Group business represents a “massive opportunity”, according to Founder and Chief Executive of Howden Group, David Howden.

International insurance group Howden Group Holdings has announced the acquisition of reinsurance and risk capital advisory TigerRisk Partners, a deal that positions Howden as a global re/insurance intermediary with $30 billion of premiums placed through its business activities.

AUB Group, an Australian listed financial services group comprised of insurance brokers and underwriting agencies, is to acquire near 200 year old insurance and reinsurance broking group Tysers, gaining wholesale Lloyd’s, reinsurance and some insurance-linked securities (ILS) expertise.

Despite discussing alternative proposals with some 31 parties, Alleghany Corporation has not found a better bidder than Warren Buffett’s conglomerate Berkshire Hathaway, which is now on-track to secure its acquisition of the TransRe owner.

Occam Underwriting, the specialist lines focussed Managing General Agency (MGA), that counts reinsurance and insurance-linked securities (ILS) investor Hudson Structured Capital Management (HSCM) as its majority owner, has now completed its acquisition of terrorism risk focused MGA Beech Underwriting Agencies Ltd.

A significant insurance and reinsurance M&A transaction has just been announced, with Warren Buffett’s conglomerate Berkshire Hathaway set to acquire Alleghany Corporation, the owner of reinsurer TransRe, in an all-cash deal valued at $11.6 billion.

French mutual insurer Covéa and Italian holding company EXOR have now signed a definitive agreement on the sale of PartnerRe, with the insurer to pay $9 billion to acquire the reinsurance firm, while EXOR will now take over and continue the special purpose vehicle reinsurance investment agreements that were in place.

The Ardonagh Group, a UK headquartered independent insurance broking, underwriting, servicing and management company and the owner of reinsurance broker Inver Re, has secured a major investment that values the firm at $7.5 billion.

The Canada Pension Plan Investment Board (CPPIB), one of the larger pension investors with a strong appetite for insurance and reinsurance market-linked returns, is reportedly looking to sell two of its larger equity stakes in the industry, by offloading specialty player Ascot Group and life and annuity reinsurance firm Wilton Re.

With the completion of its acquisition of the treaty reinsurance business of Willis Towers Watson, Arthur J. Gallagher and its reinsurance unit Gallagher Re has an opportunity to accelerate sales of insurance-linked securities (ILS), its senior executives told Artemis.