Hashtag: #BusinessMergers
ESC & Frameworks Merge Operations
ESC Limited and Frameworks announced the “successful merger of their operations” which they said “brings together both entities’ strengths, creating a comprehensive and seamless shopping experience. A spokesperson said, “The union of ESC and Frameworks, effective 31 May 2023, is a testament to their shared vision of providing... Read more of this article
Fleming Insurance To Acquire JRG Reinsurance
Fleming Insurance Holdings, a provider of capital solutions to P&C insurers globally, has entered into an agreement to acquire JRG Reinsurance Company Ltd. from James River Group Holdings, Ltd. A spokesperson said, “This is a transformational transaction contributing to Fleming’s growth plan with the addition of complementary infrastructure,... Read more of this article
ABIR Congratulates RenRre On Acquisition
The Association of Bermuda Insurers and Reinsurers [ABIR] said they “welcomed the news that RenaissanceRe Holdings Ltd. has successfully closed its acquisition of Validus Re and its subsidiaries from American International Group [AIG].” A spokesperson said, “ABIR member RenaissanceRe becomes the fifth-largest property and casualty... Read more of this article
RenaissanceRe Acquires Validus Reinsurance
RenaissanceRe Holdings Ltd. has completed its acquisition of Validus Re, the treaty reinsurance business of American International Group, Inc. A spokesperson said, “RenaissanceRe Holdings Ltd. today announced that it has concluded its acquisition of Validus Re, the treaty reinsurance business of American International Group, Inc which includes... Read more of this article
Nascent To Acquire Bermuda Compliance
Nascent Group Ltd. announced that it has signed an agreement to acquire Bermuda Compliance Consultants Ltd, and the acquisition is expected to close in the fourth quarter of 2023. A spokesperson said, “Founded and headquartered in Bermuda, Bermuda Compliance Consultants Ltd. [BCCL] provides compliance advisory services to the insurance and the... Read more of this article
Artex Acquires Frontier Financial Services
Arthur J. Gallagher & Co. announced that its captive and alternative risk transfer solutions subsidiary, Artex, has acquired Bermuda-based Frontier Financial Services Limited. A spokesperson said, “Frontier is a management firm specializing in consulting, recruitment, business services and immigration services to reinsurance and insurance-linked... Read more of this article
Monument Re Acquires Portfolio From Federale
Monument Re announced today that its Belgian subsidiary Monument Assurance Belgium has completed the acquisition of a run-off block of retail life policies, annuities and associated assets from Federale Verzekering [Federale]. Koen Depaemelaere, CEO of Monument Assurance Belgium stated that “We are pleased to have completed this transaction with Federale... Read more of this article
RenaissanceRe To Acquire Validus Reinsurance
Renaissancere Holdings announced it has “entered into a definitive agreement with American International Group, Inc., whereby RenaissanceRe will acquire AIG’s treaty reinsurance business, which includes Validus Reinsurance Ltd. and its consolidated subsidiaries, AlphaCat Managers Ltd. and its managed funds, and all renewal rights to the Assumed... Read more of this article
Arch Insurance Acquires Thimble
Arch Insurance announced it has acquired Thimble, a leading insurtech platform for small business customers and agents. A spokesperson said, “Thimble enables small businesses to quickly get insurance coverage by the job, month or year using its award-winning app, website, or over the phone. “The acquisition expands Arch’s suite of digital... Read more of this article
Clarien Acquires Omnium Group Of Companies
Clarien Bank Limited has signed an agreement to acquire Omnium Trust Company Limited [Omnium Trust] and Omnium Corporate Services Limited [Omnium Corporate Services], a boutique practice offering quality trust and corporate administration services. A spokesperson said, “The terms of the acquisition, which strengthens Clarien’s aspiration to be Best... Read more of this article
Apex Group Acquires Efficient Group
Apex Group Ltd., a global financial services provider, announced the planned acquisition of Efficient Group Ltd. A spokesperson said, “Efficient is the holding company of Boutique Collective Investments [RF] [Pty] Ltd [BCI] and Boutique Investment Partners [Pty] Ltd [BIP] and following the completion of the acquisition, Efficient Group [Pty] Ltd will... Read more of this article
IGI Announces Completion Of EIO Acquisition
International General Insurance Holdings Ltd. [IGI] announced the completion of the acquisition of Norway-based managing general agency Energy Insurance Oslo AS [EIO]. A spokesperson said, “The transaction included the acquisition of all outstanding shares of EIO. The entity, which is expected to be renamed IGI Nordic AS [IGI Nordic], is a subsidiary... Read more of this article
