Insurance broker Aon’s $30 billion bid for Willis Towers Watson, the biggest ever in the sector, is expected to get the EU antitrust green light later this month or in early July, people familiar with the matter said.
We regularly curate the latest news and insights to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
USAA is acquiring the insurtech Noblr and will use the company’s usage-based insurance platform for a new offering.
Insurance broker Aon said it will sell some assets to private equity firm Aquiline Capital Partners and tech firm Alight for $1.4 billion, in a bid to get U.S. Department of Justice approval for its merger with Willis Towers Watson.
Allstate has agreed to acquire Ohio-based SafeAuto, which offers car insurance that meets the minimum legal requirements in 28 states.
Anish Jadav has been appointed Chief Underwriting Officer for AXA XL P&C in the UK, life insurtech Ethos Technologies Inc. has a more than $2bn (£1.4bn) valuation after a $200m funding round, and home insurtech Kin has raised $63.9m in Series C funding.
Reinsurers are losing ‘vast amounts of value’ due to lack of data standards suggests new Supercede whitepaper
The reinsurance industry is missing out on the benefits of digital transformation while the rest of the insurance industry surges ahead with modernisation, according to new research published by Supercede, the fast-growth global reinsurance placement platform.
Dieter Wemmer, a veteran insurance executive who was chief financial officer at Allianz SE, is launching a blank-check company to target deals in the sector where he worked for more than three decades, people familiar with the matter said.
Tokio Marine Holdings is reportedly acquiring a US-based insurer operating in the employee benefits space, in a deal that could be worth US$184 million.
Italy’s biggest insurer Generali is in exclusive talks to buy assets in Malaysia belonging to French rival AXA in a deal worth around 300 million euros ($358 million), two sources said on Tuesday.
Zurich Insurance and Farmers Exchanges have closed on buying MetLife’s U.S. property/casualty business for $3.94 billion.
The combination of the two companies reflects a shared vision: lowering costs and providing greater access to quality, affordable, personalized care, according to a press release issued by Cain Brothers, Zipnosis’ financial adviser.
German re/insurer Allianz is exploring an offer for The Hartford, after the U.S. property and casualty insurer rejected a recent offer from Chubb, according to Bloomberg reports.
Jakarta-based insurtech startup Qoala has acquired Thai peer FairDee, further expanding its reach in Southeast Asia. The company has a presence in Indonesia, Singapore, Malaysia, Vietnam, and now Thailand, serving millions of consumers across the region.
Canada’s Constellation Insurance Holdings, Inc. has agreed to acquire Cincinnati-based life and disability insurer Ohio National Mutual Holdings, Inc. and its wholly owned subsidiary Ohio National Financial Services, Inc. for a total consideration of US$1 billion.
Five years ago, Evan Greenberg led ACE’s nearly $30 billion acquisition of Chubb, morphing Chubb into its current status as a global property/casualty insurance giant he continues to guide as CEO. Now, the insurer is gunning for even larger size and reach with an offer to pay $23 billion for The Hartford, an industry icon with origins dating back to 1810.
Chubb Ltd., the global insurer led by Evan Greenberg, is exploring an acquisition of Hartford Financial Services Group Inc. in what could be one of the industry’s biggest deals in years, people familiar with the matter said.
Accelerant Holdings today announced the acquisition of Commonwealth Insurance Company of America from Brit Group, a subsidiary of Fairfax Financial.
Aviva Plc has exited its Italian businesses in a pair of deals totaling 873 million euros ($1.1 billion) as the UK insurer continues to pivot to its core markets.
Digital commercial insurance company Next Insurance has agreed to acquire AP Intego, a Massachusetts-based digital insurance agency providing small commercial insurance products.
After rumours began swirling that AXA XL was looking to sell its private client business to fellow insurance giant Aviva, the company has issued a statement to Insurance Business confirming its plans.
After months of speculation, London-headquartered insurer Aviva has announced an agreement to sell its French business to mutual insurer Aéma Groupe, for €3.2 billion in cash.
Aston Lark, the Chartered insurance broker backed by Goldman Sachs, further bolsters its employee benefits and individual health insurance expertise by today announcing it has agreed terms for the acquisition of both Right to Health Ltd and The Health Insurance Specialists. Both deals are expected to complete in early March.
Aviva Plc, the British insurer, is in advanced talks on a sale of its Italian operations as it pushes ahead with about 6 billion euros ($7.3 billion) of divestments, people with knowledge said.
The merger of Aon with Willis Towers Watson is on course to close in the first half of 2021, said John Haley, Willis Towers Watson’s Chief Executive.
Allianz will acquire full ownership of its China life insurance business after agreeing to buy the 49% stake it doesn’t already own in its Chinese joint venture, the German insurance giant said on Friday.
Insurtech startup CXA Group announced plans to restructure its business to focus “solely” on its enterprise software-as-a-service (SaaS) business.
The new owner-to-be: Sontiq, an identity security company with a number of identity and cyber monitoring products and services. Sontiq is a portfolio company of The Wicks Group of Companies, and it signed a definitive agreement to buy Cyberscout.
Mutual life insurer MassMutual has announced plans to acquire Great American Life Insurance Company from American Financial Group for $3.5 billion.
Allstate Corporation has entered an agreement to sell Allstate Life Insurance Company (ALIC) to Blackstone for almost $3 billion.
Financial firm Sixth Street Partners has agreed to buy annuities company Talcott Resolution for $2 billion, the latest ownership change in a decade of frenzied industrywide life-insurance deal activity.
Property/casualty insurance companies far and wide are considering whether to develop technology platforms in-house or modernize some other way. Brown & Brown chose an acquisition to get there.
Singlife Celebrates Completing the Largest Insurance Deal in Singapore after $2.3B Merger with Aviva Singapore
In late November, Singapore-based digital life insurance company Singlife completed its US$2.3 billion merger with the Singapore arm of UK insurance company Aviva. The deal, which was first announced in September, was the largest insurance deal in Singapore and one of the largest in Southeast Asia, creating a new entity Aviva Singlife.
British used-car startup Cazoo has announced that it has agreed to acquire Drover , the UK’s leading car subscription platform, for an undisclosed sum.
Earlier this month, digital life insurance platform Bestow took a big step in expanding its carrier business nationwide by acquiring Centurion Life Insurance Company from Wells Fargo & Co.
Zurich Insurance’s subsidiary Farmers Group has agreed to team up with Farmers Exchanges to buy Metlife’s US property and casualty business for $3.94bn (£2.96bn).
Insurers pummeled by the pandemic are looking to deals as they race to see who’ll emerge strongest when the outbreak subsides.
Next Insurance, the leading digital insurtech company transforming small business insurance, today announced that it has completed the purchase of Juniper Labs, an innovative provider of alternative open data and underwriting technology focused on small businesses.
Brown & Brown Inc. has acquired online insurance platform CoverHound Inc., including its wholly owned subsidiary CyberPolicy, Brown & Brown said in a statement Monday.
Zego, the London-based mobility insurance provider and the first UK insurtech to be awarded an insurance license, has acquired telematics company, Drivit.
Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation, announced today that it will complete five insurance acquisitions this quarter, adding over $100 million of combined annual revenue to its wholesale division.
Travelers announced Thursday that it has agreed to buy InsuraMatch, a digital independent insurance agency, to help the insurance giant expand its personal insurance portfolio.
Specializing in working with clients that offer life, annuities, retirement, employee benefits, and property and casualty insurance, NEOS provides consulting and delivery services to solve its clients’ strategy, operations, data, and technology challenges.
Bestow has agreed to buy Centurion Life Insurance, becoming the latest insurtech to scoop up an insurance carrier.
Arthur J. Gallagher & Co. Acquires North Star Insurance Services and North Star Marine Insurance Services
Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Seattle-based North Star Insurance Services, LLC and Fairhaven, Mass.-based North Star Marine Insurance Services, LLC.
ServiceNow Inc. will buy Canadian startup Element AI Inc., marking the software maker’s fourth acquisition this year to boost the artificial intelligence capabilities of its applications.
The consortium led by Singapore Life (Singlife), an insurer offering mobile savings and protection solutions, has announced it has completed the transaction to combine Singlife with Aviva.
AXA SA sold its Persian Gulf business for $269 million to a Kuwait-based group, as the French insurance giant shifts its focus and exits some overseas investments to shore up its finances amid the coronavirus pandemic.
Canadian property and casualty insurer Intact has taken a step closer to securing its joint-acquisition of RSA with the successful completion of a previously-announced $3.2 billion capital raise
CodeObjects’ enterprise-grade personal lines solution complements Insurity’s well-established commercial lines solutions, positioning the vendor better-serve a growing client base.
Re/insurance broker Willis Towers Watson has announced the acquisition of Acclimatise, a climate change adaptation advisory and analytics services provider.
Cinven has agreed to buy Miller, the specialist insurance broker owned by Willis Towers Watson Plc, in its first deal from a new fund dedicated to financial services investments.
Another InsurTech has been acquired. This time, insurance broker Brown & Brown, Inc. bought CoverHound, a digital property/casualty insurance marketplace, and CyberPolicy, CoverHound’s small business subsidiary.
AEC Wholesale Group, a subsidiary of Coverys European Holdings (CEH), announced the acquisition of Gava S.R.L, a Lloyd’s coverholder based in Brindisi, Italy. AEC Group
Pioneer Underwriting Holdings Ltd (PUHL) has today revealed that it has signed terms for a deal which will see it and its subsidiaries (Pioneer) acquired
International insurance broker Howden is set to acquire a majority stake in ADRISA, a Mexico-based retail insurance broker. The deal will see the two companies
Insurance and investment giant AXA has completed the sale of its life & savings, property & casualty and pension businesses in Poland, Czech Republic and
Zurich Insurance Group has agreed to acquire Australia-based HealthLogix and South Africa-based HealthInsite, to further expand its Zurich LiveWell health and wellbeing business. The companies,
Insurance technology firm Bold Penguin has acquired RiskGenius in a deal that the two commercial lines insurtechs said will help grow their reach more than
WANT TO SHARE YOUR KNOWLEDGE?
With world’s largest forum for insurance professionals, Insurtech Insights provides an invaluable platform for networking, new insights and exposure for thought leaders. We are always looking for new partners, content creators, and contributors to create value and deliver exceptional support to Insurtech Insights.
To share your knowledge, simply fill out the form.