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Howden, the London-based international insurance broker, further strengthens its presence in Italy with two new acquisitions: Nord Est Insurance Broker and ASI Insurance Brokers.
Chubb has acquired the renewal rights of DUAL Asia’s financial lines portfolio in Hong Kong SAR and Singapore.
Hundreds of companies have said they are withdrawing or suspending operations in Russia after its invasion of Ukraine, from energy producer Shell Plc (SHEL.L) to carmaker Hyundai Motor Co (005380.KS) to PwC, a global professional services firm.
Slide, an insurtech startup that quickly raised $100 million in seed capital, has acquired $400 million worth of premiums from Orlando-based St. Johns Insurance Co., which recently ceased operations after a ratings agency downgraded it.
Hub will acquire the Insureon digital insurance agency and brand while Bold Penguin will acquire the Insureon technology platform.
Aon plc (NYSE: AON), a leading global professional services firm, today announced it has acquired actuarial software platform Tyche from technology and software firm RPC Tyche.
Trōv, one of the earliest and most widely recognized insurtechs, today announced that its technology has been acquired by The Travelers Companies, Inc. (NYSE: TRV), a leading provider of property casualty insurance for auto, home and business. Most members of Trōv’s team have also joined the company. Terms of the transaction were not disclosed.
Bolttech, a Singapore-based insurtech unicorn, has acquired local insurance firm Ava Insurance for an undisclosed sum.
HSBC Insurance (Asia Pacific) Holdings, an indirect wholly-owned subsidiary of HSBC Holdings (HSBC), has completed the acquisition of 100% of the issued share capital of AXA Insurance Pte Limited (AXA Singapore) for a consideration of $529m, subject to closing adjustments.
Insurance carriers focused on building alliances with insurtechs last year as they explored emerging technologies and capabilities, rather than making outright acquisitions.
French startup Luko is acquiring German startup Coya in order to grow its European presence and get an insurance license from German regulator. While Luko isn’t disclosing terms of the deal, the company says it’s a 100% share deal, which means that Coya investors are now Luko investors. Those investors include Valar Ventures, Headline and Roland Berger’s family office.
2021 has been a record year for insurtech funding. As of Q3 2021, more than US$10.5 billion had been raised by companies in the space year-to-date (YTD), surpassing 2020’s total of US$7.1 billion by nearly 48%, data from insurance advisory firm Willis Towers Watson show.
Zurich Insurance Group agreed to acquire Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation, to further enhance the group’s digital capabilities.
Willis Towers Watson has announced the acquisition of Aerosure, an aviation industry specialist, focused on the Australia, New Zealand and Pacific Island region.
Several insurtech companies including Hippo and Metromile, amongst others, have merged with a special purpose acquisition company (SPAC) as a path to being traded publicly on stock markets. This approach became more popular in the past two years, as the COVID-19 pandemic led to companies seeking quick, efficient paths to growth.
Milwaukee-based Insurance technology firm Zywave reports it has acquired Santa Barbara, Calif.-based ClarionDoor, a seller of insurance product distribution software for the property/casualty market.
Metromile’s auto insurance offerings are informed by a decade’s worth of data, which should improve the quality of the newly-introduced product, Lemonade Car.
Moody’s Corporation and RMS announced today that they have entered into a definitive agreement for Moody’s to acquire RMS, a leading global provider of climate and natural disaster risk modeling and analytics, for approximately $2.0 billion from Daily Mail and General Trust plc.
Willis Towers Watson has entered into an initial, non-binding agreement to acquire Leaderim, an insurance broking and consultancy business in Israel.
Pie Insurance will acquire a regional insurer as it moves forward with a bid of becoming a full-stack insurance carrier.
Global insurer AXA has entered into an agreement with HSBC Insurance (Asia-Pacific) Holdings Ltd over the sale of AXA Insurance Pte Ltd (AXA Singapore) for a total cash consideration of USD 575 million (€487mn).
Brookfield Asset Management Inc’s reinsurance unit has agreed to buy insurer American National Group Inc. for about $5.1 billion in an all-cash deal, the companies said on Monday.
MGA Corvus Insurance, fresh off of raising $115 million in new venture financing, has made an acquisition with an eye on the admitted coverage marketplace and more digital platform partnerships. More acquisitions appear likely.
As a result of the business combination of CCC and SPAC Dragoneer Growth Opportuniteis, CCC Intelligent solutions Holdings Inc. will be listed on the NYSE as CCCS.
Insurance broker Willis Towers Watson PLC said on Tuesday it is weighing strategic alternatives for its reinsurance unit, Willis Re, days after a planned sale to rival Arthur J. Gallagher fell through.
Zurich Insurance Group AG is nearing a deal to buy Deutsche Bank AG’s Italian financial promoters network, according to people familiar with the matter.
Chubb Limited (NYSE: CB) today announced that it has acquired the business of StreamLabs from Australia-based Reliance Worldwide Corporation Limited (RWC). StreamLabs offers leading Internet of Things (IoT) enabled water monitoring, leak detection and water shut-off products.
Aon Plc and Willis Towers Watson Plc called off their $30 billion merger plan on Monday, terminating an agreement that could have made the combined company the world’s largest insurance broker.
Insurance startup bolttech has purchased i-surance a B2B2C digital insurance platform, to accelerate its expansion in Europe.
American International Group Inc (AIG.N)plans to use an IPO to sell part of its life and retirement business, while Blackstone Group Inc (BX.N)agreed to buy a sizeable stake, according to a person familiar with the matter.
Global insurance and reinsurance brokers, Aon and Willis Towers Watson (WTW), have emphasised the pressing need for the “earliest possible trial date” for their pending case against the Antitrust Division of the U.S. Department of Justice (DoJ), which seeks to block their $30 billion combination.
Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in deal that could be valued at €5 billion, according to press reports.
WeSure is buying 50.4% of insurance company Ayalon’s shares at a $216 million valuation, 33% higher than its Tel Aviv Stock Exchange market cap.
Reports from Bloomberg highlight how the proposed $30 billion merger of insurance brokerage giants Aon and Willis Towers Watson (WTW) would create the world’s largest outsourced investment management firm.
Assicurazioni Generali has agreed to buy rival Axa’s insurance assets in Malaysia for a consideration of RM 1,290m (€262m) in a key strategic push into the region.
The enhanced ability to innovate is a principal motivator for Aon’s proposed acquisition of Aon and Willis Towers Watson. It’s a message that Aon CEO Greg Case has been emphasizing since the $30 billion deal was announced in March 2020.
The U.S. Justice Department filed a lawsuit on Wednesday aimed at stopping insurance broker Aon’s $30 billion acquisition of Willis Towers Watson because it would reduce competition and could lead to higher prices.
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.
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
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