M&A
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May 25, 2022
HDI in Brazilian acquisition from Sompo
HDI International has acquired the retail business of Sompo Seguros in Brazil for about BRL1,050m, subject to certain closing account…
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May 24, 2022
Results show mixed fortunes for Scandinavian P&I mutuals Gard and Skuld
Norwegian club Skuld has reported a $15m loss for 2021/2022. The P&I marine insurer had recorded a $25m profit the…
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May 20, 2022
Convex sees premiums almost double but CR hits 118%
Bermudan insurer Convex, launched by Stephen Catlin in 2019, saw its gross written premiums (GWP) almost double last year to…
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May 10, 2022
Carlyle to buy NSM MGA from White Mountains for $1.78bn
Bermuda-based White Mountains Insurance has signed a definitive agreement to sell its fast-growing MGA platform and brokerage NSM Insurance to…
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May 10, 2022
US D&O most profitable since 2014 but Covid claims may lag: AM Best
Last year was the best for US D&O insurers’ premium, volume and profitability since 2014, with their push for moderate…
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May 9, 2022
Risk managers set to enjoy lower costs as Pool Re cuts terrorism rates from October
UK terrorism backstop Pool Re has agreed new reductions of up to more than 30% in reinsurance prices that should…
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May 9, 2022
AUB buying Tysers for £550m
Australia-headquartered AUB Group is buying London broker Tysers for £550m (A$880m). The deal will see Australian broker PSC buy half…
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May 6, 2022
Aegon concludes sale of Turkish business
Dutch insurer Aegon has continued the divestment of its European subsidiaries with the completion of the sale of its Turkish…
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May 4, 2022
Sanlam and Allianz team up to form pan-African insurance powerhouse
Sanlam, the largest non-banking financial services company in Africa, and German insurance giant Allianz have agreed to combine their current…
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May 4, 2022
AIG’s general insurance arm sees profits jump 43% on back of much-improved underwriting figures
AIG’s general insurance business saw adjusted pre-tax income (APTI) jump 43% in the first quarter to $1.21bn, as underwriting income…
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May 4, 2022
Broker ‘cautiously optimistic’ about US management liability market
Management and professional liability policyholders in the US should be “cautiously optimistic” about their prospects this year as the market…
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May 4, 2022
North American broking M&A falls to lowest level since 2016
Mergers and acquisitions involving US and Canadian insurance agents and brokers fell to their lowest level since 2016 in the…
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May 3, 2022
Aspen returns to black in 2021 with $30m net income
Aspen Insurance turned around losses of $56.4m in 2020 to report net income of $29.8m for full-year 2021, which it…
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April 29, 2022
Argo board considers sale after shareholder pressure
Argo has bowed to pressure from activist shareholders and announced that it is considering selling the company. The board said…
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April 28, 2022
European cyber pricing to stabilise in H2: Marsh
Cyber insurance pricing in Europe is likely to stabilise in the second half of 2022 as measures to stem ransomware…
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April 27, 2022
Alm Brand secures regulatory approval for Codan Forsikring acquisition
The Danish Competition and Consumer Authority has given its unconditional approval to Danish insurer Alm Brand’s purchase of the Danish…
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April 27, 2022
Brown & Brown actively seeking M&A opportunities
US broker Brown & Brown is actively seeking other M&A opportunities, according to its president and CEO, J Powell Brown,…
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April 26, 2022
Specialty market remains firm despite talk of rising capacity: Berkley
Rob Berkley, CEO of leading US-based carrier WR Berkley, said that insurance rates are holding firm and there remain many…
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April 22, 2022
Hard market ‘persists’ but rates rises continue to slow: Marsh
The global insurance market hardened again in the first quarter with average rate increases of 11% but the size of…
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April 11, 2022
P&C losses from Ukraine-Russia conflict could hit $15bn, says WTW
P&C insurers could see close to $15bn in losses from the Ukraine-Russia conflict, according to a report by WTW. However,…