M&A
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GeoVera’s MGAs will sell to SageSure and insurance companies will merge with SafePort.
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The Lloyd’s legacy business has been placed up for sale, along with other units.
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The outlook for M&A activity is brighter after 2023 returns.
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Arm is based in Guernsey and has a Bermudan management licence.
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The newly launched Marco Re will be led by Mark Elliott as CEO.
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A non-binding term sheet was signed on October 6, whereby the buyer will acquire 100% of Interboro’s issued and outstanding securities in exchange for cash.
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BCCL will be rebranded to Nascent Advisory Services Ltd as part of the transaction.
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The private equity firm is targeting $1trn in assets under management for the combined segment.
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Frontier’s employees, including director and co-founder Peter Brodsky and CEO Derek Winch, will remain in their current roles.
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The two parametric businesses will be brought together as the UK and German governments sell out.
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The vehicle will focus on middle-market transactions in the US and Europe across the insurance value chain.
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The firm has moved to defend its plans against a rival strategy supported by a small group of investors.
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The carrier has agreed to acquire the former Credit Suisse ILS unit, following the acquisition of sister company Humboldt Re in 2021.
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Financials Acquisitions Corp is looking to extend its merger deadline and raise “substantial” extra funds.
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Removing any competitor is a positive for ILS peers in a competitive time for fundraising, but it is not clear how much of a boost this will give RenRe.
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The takeover will push it up two places to rank as the fifth-largest writer of P&C reinsurance by gross premium.
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AIG will invest a significant amount into Fontana and DaVinci.
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The Bermudian reinsurer launched a public offering of 6,300,000 common shares and anticipates raising around $1.15bn to finance the transaction.
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The deal includes AIG's AlphaCat platform.
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The AJ Gallagher-owned ILS services provider is expanding its footprint globally.
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The non-catastrophe ILS platform hit a valuation of $1bn after a Series C funding round.
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The acquisition gives UK asset manager Liontrust a broader European footprint and cat bond products.
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Bay Risk will become part of Gallagher Re’s Global Programmes practice group, led by Andrew Moss.
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The reinsurer said in its Q4 earnings call that Argo’s takeover further diversifies its operations and adds a foundational piece to its expanding P&C activity in the US.
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The international reinsurance unit booked almost EUR1bn in revenue in 2022.
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Bowood managing director Stephen Greener will chair the entity, which is to place $6bn in GWP.
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Vesttoo's aim for the partnership is to bridge the gap between the insurance and capital markets, scaling insurance-linked investments as a source for reinsurance capacity.
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The acquisition will enable the Japanese carrier to expand further into the US and across a host of insurance lines, including property and marine.
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There is no guarantee that the process will yield a particular transaction.
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The former Chubb exec will remain on the board as an independent director, along with president and CEO Jacques Bonneau.
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The French mutual’s CEO Thierry Derez and chief of staff Sylvestre Frezal said the deal is a strategic move to adapt to new forms of risk.
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Kiln and UPC partnered to form the insurer in 2018, but it was merged into American Coastal earlier this year
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FedNat will retain a minority interest along with representation on the board.
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Elliott Management, the other key suitor for the business, is understood to have dropped out of the auction.
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