EC Insurance Company Ltd. (ECIC), the specialist insurer for the contracting market, has begun the process of transferring business over to Markel International Insurance Co. Ltd. (MIICL), following ECIC’s acquisition by Markel in November 2017. Sevenoaks, England-based ECIC provides insurance …
Mergers and acquisitions of insurance agencies last year broke all records in 2017, according to OPTIS Partners’ annual report. The OPTIS database recorded 604 deals in the United States and Canada in 2017, a 31 percent jump from 461 in …
Insurance brokerage and consultant Aon has completed its acquisition of The Townsend Group, a global investment management and advisory services firm primarily focused on real estate and real assets. Aon reported in September that it had agreed to acquire Townsend …
Brussels-based insurer Ageas on Dec. 29 completed the sale of its stake in Italian bancassurer Cargeas Assicurazioni (CARGEAS) to BNP Paribas Cardif, for €178 million (US$213.6 million) in cash. Ageas and BNP Paribas Cardif have operated CARGEAS as a joint …
Randall & Quilter (R&Q) announced it has acquired Constantia Insurance Co. (Guernsey) Ltd., a captive company now in run-off, from Old Mutual plc. Regulatory approval for the acquisition has been granted and Constantia will be amalgamated into Capstan Insurance Company …
Fairfax Financial Holdings said it has successfully sold a Singapore insurer to Japan’s Mitsui Sumitomo Insurance Co. for US$1.6 billion.The deal between the Toronto, Canada-based P/C insurance, reinsurance and investment management holding company, and Mitsui Sumitomo involves the sale of …
UnitedHealth Group Inc said on Friday [Dec. 22] it signed a definitive agreement to buy Chilean healthcare company Banmedica SA for $2.8 billion, expanding the health insurer’s footprint in South America. Banmedica operates health insurance, clinics and other services. UnitedHealth …
Zurich Insurance Group announced it has purchased 100 percent of the shares of Bright Box HK Ltd. and its subsidiaries – an acquisition designed to increase its capabilities in connected car technologies and telematics-enabled data analytics. Financial details of the …
Allianz X, the digital investment unit of the Allianz Group, announced a $96.6 million investment in BIMA, the digital microinsurer. Stockholm-based BIMA uses mobile technology to serve low-income customers in Africa, Asia and Latin America. With its investment, Allianz becomes …
Hamilton Insurance Group has found a buyer for the legacy book the insurer inherited from its purchase of Sportscover Underwriting Ltd. in April 2015. Syndicate 3330 will buy the business from Hamilton Underwriting Limited, the managing agency of Syndicate 3334 …
