CoverHound sale is a sign of the times in insurtechMore acquisitions of insurtechs will follow Brown & Brown’s deal to buy CoverHound, as companies stuck in the middle of a funding gap assess their futures.
Brown & Brown buys insurtech CoverHoundBrown & Brown has acquired substantially all of the assets of CoverHound, a digital insurance marketplace for individuals and small businesses.
Cinven and GIC to acquire wholesaler MillerPrivate equity house Cinven and Singapore’s sovereign wealth fund GIC have agreed terms to acquire up-for-sale London broker Miller from parent Willis Towers Watson (WTW) for an undisclosed amount.
Coverys European Holdings acquires Lloyd’s coverholder GavaAEC Wholesale Group, a subsidiary of Coverys European Holdings (CEH), has acquired Gava S.R.L, a Lloyd’s coverholder based in Brindisi, Italy.
ILS heavyweight Credit Suisse puts Lloyd’s arm Arcus up for saleCredit Suisse ILS has put its Arcus Syndicate 1856 up for sale, appointing advisory firm Kinmont to manage the process, The Insurer can reveal.
Enstar to make $18.6mn on Watford betEnstar is set to record a gain of $18.6mn on its investment in Watford Holdings through the deal which will see Watford acquired by Arch Capital.
Goodbye RSA…Royal & Sun Alliance is a venerable name in UK insurance – indeed, its roots go back to 1710 when Queen Anne was on the throne and Europe was torn apart by the Spanish Succession wars.
BRP completes largest M&A to date with Insgroup dealExpansive BRP Group has completed the largest acquisition in its history after its middle market-focused subsidiary Baldwin Krystyn Sherman Partners agreed a deal to purchase all of the outstanding equity interests of Insgroup.
Growing insurtech funding gap to fuel M&A: Willis Re’s JohnstonInsurtech trends to watch in coming months include the widening funding gap spurring further M&A, more companies looking to take advantage of a possibly closing window for IPOs and big tech making its presence known in the space, according to Willis Re’s Andrew Johnston.
RSA shares soar as it confirms 685p per share takeover talks with Intact-Tryg consortiumRSA Insurance Group plc is in talks with a consortium of Canadian insurer Intact Financial and Danish carrier Tryg about a possible offer for the London-listed company.
Hub buys Canadian agribusiness broker and two Virginia agenciesUS broker Hub has announced deals to buy Alberta-based Stalco Insurance and Virginia-based agencies The Olson Agency and Insure All.
Davies acquires Oklahoma-based transportation specialistPrivate equity-backed Davies Group has the acquired Johnson Claim Service, a transportation claims specialist providing third-party administration, adjusting and appraisal services.
Allianz-Athora consortium talks stall over Aviva’s French arm: reportsTalks between a consortium of German insurer Allianz and life insurer Athora Holding over the sale of UK insurer Aviva’s French insurance operations expired at the end of October without an agreement, according to reports.
Relation targets former Nationwide exclusive agencies with new platformAquiline-backed Relation Insurance Services has its sights on acquiring more small commercial and personal lines agencies, including former Nationwide exclusive agents, after buying Michael Glick Agency and Glick Insurance Group and creating a new business unit to support the strategy.
Argo reveals exited businesses represent over $400mn of GWPArgo Group CEO Kevin Rehnberg has revealed that Argo plans to exit its non-Lloyd’s European operations, one of four recent initiatives to sell or exit businesses that represent over $400mn in annual gross written premiums in total.
Heritage will be opportunistic on Florida M&A as continues organic buildoutFlorida-based homeowners specialist Heritage is focused on the organic buildout of its geographical footprint across the US, but will also consider opportunistic M&A plays inside and outside the Sunshine State as a growing number of carriers come under financial distress, according to outgoing CEO Bruce Lucas.
Arch puts value on reputationThe brief battle for Watford Holdings looks to have ended after Arch raised its offer and won support from two adversarial shareholders on Monday, but the key driver behind the Bermudian’s move to ward off rival interest may have got lost in the public skirmishes.
CRC adds Cali binding platform with W Brown & Assoc P&C acquisitionUS wholesale giant CRC Group has acquired California-based surplus lines broker and MGA W Brown & Associates P&C, in a move that continues the expansion of the Truist Insurance Holdings subsidiary’s binding platform.
Charles Taylor bolsters marine capabilities with Cosulich Group dealCharles Taylor has bolstered its marine capabilities across Europe, the Middle East and Asia through the acquisition of Lab Cosulich Consultants (LCC) and CMC Marine (CMC), together known as the Cosulich Group.
MNK Re acquires Prospect Brokers AfricaSpecialty Lloyd’s broker MNK Re is to acquire a majority stake in independent South African reinsurance broker Prospect Brokers Africa.