CatX and Cactus merge to form Bermuda’s biggest insurance software firm
CatX and Cactus join forces, creating Bermuda’s largest insurance software firm and launching Cactus Risk Studio, an AI-driven platform for risk analysis and transactions
M&A Insurance News
Bain Capital to buy insurance platform Jensten Group, plans tech and M&A push
Bain Capital moves to acquire U.K.-based Jensten Group, expanding its insurance distribution play with fresh capital and growth strategy
Insurance Australia Group seals A$855 mn deal for RACQ Insurance
IAG buys 90% of RACQ Insurance for A$855 mn, adding 840 staff and securing a 25-year underwriting partnership in Queensland
Gallagher Re to acquire Steadfast Re, expanding in Australia & Asia Pacific
Gallagher Re, the reinsurance broking arm of Arthur J. Gallagher, has agreed to acquire Steadfast Re, the Sydney-based reinsurance broker launched a decade ago
Skyward Specialty to acquire Lloyd’s platform Apollo in $555 mn deal
Skyward Specialty Insurance Group has agreed to acquire 100% of Apollo Group Holdings Limited for $555 mn, marking a significant expansion
Marsh McLennan Agency expands in Tennessee with Robins Insurance deal
Marsh McLennan Agency (MMA), the middle-market subsidiary of Marsh, has acquired Robins Insurance, a Nashville-based independent brokerage
Vienna Insurance Group will acquire 80% of Moldasig
Vienna Insurance Group (VIG) will acquire 80% of Moldasig S.A. after securing the stake in a public auction, a move that will make it the largest insurer in Moldova with an estimated 30% market
Sompo Holdings buys Aspen Insurance in $3.5 bn cash deal
Sompo Holdings will acquire Aspen Insurance Holdings for $3.5 bn in an all-cash transaction, marking one of the largest recent cross-border insurance deals
Steadfast expands into U.S. with majority stake in Novum Underwriting
Cleveland-based Novum Underwriting Partners, a managing general agent and wholesale brokerage, has become part of Steadfast Group’s network after the Australian insurance giant
Berkshire Hathaway invests $1.57 bn in UnitedHealth Group
Berkshire Hathaway disclosed a $1.57bn investment in UnitedHealth Group after acquiring 5.03mn shares, according to filings with the SEC
CarTrawler acquires insurtech Koala to expand into travel insurance
Irish travel technology firm CarTrawler has acquired French insurtech startup Koala, marking its first major move into the insurance technology space
Advent to acquire Sapiens in $2.5 bn all-cash deal, taking InsurTech provider private
Sapiens International Corporation, a SaaS software vendor for the insurance sector, will be acquired by private equity firm Advent in a $2.5bn all-cash deal
Manulife Financial acquires 75% stake in Comvest Credit Partners for $937.5 mn
Manulife Financial Corp. will acquire a 75% stake in Comvest Credit Partners for $937.5 mn, a move aimed at expanding its private credit platform
Software Circle acquires 95% stake in Irish Fintech AIF for up to €9 mn
Software Circle, a London-listed software investment firm, has acquired a 95% stake in Dublin-based fintech Artificial Intelligence Finance (AIF) in a deal valued at up to €9mn
Insurtech Datos Insights acquired of InsTech, the insurance innovation community
Datos Insights, a global provider of data and advisory solutions to the financial services and insurance industries, has announced the acquisition of InsTech
Resolution Life expands in Asia with reinsurance deal and Nippon Life acquisition
Resolution Life signed a flow reinsurance agreement with Taiju Life Insurance Co., part of the Nippon Life group, to support an Australian dollar-denominated
Chubb completed acquisition of LMG Insurance in Thailand for $321 mn
Chubb has completed its acquisition of LMG Insurance in Thailand for $321 mn, marking a strategic expansion of its operations in Southeast Asia
Insurtech COVU acquires Mitchell in push to scale AI-driven insurance in California
Insurtech COVU, an AI-native insurance servicing platform, has acquired Mitchell Insurance Agency, a long-standing, family-owned firm based in Roseville, California
Startup Hourly is merging with business insurance provider WeSure Digital
Hourly, a startup providing workers’ compensation, time tracking, and payroll solutions, is merging with small business insurance provider WeSure Digital
Herald acquired Babbix, an email-native AI agent developed for brokers
Herald, a provider of digital infrastructure for commercial insurance, has acquired Babbix, an email-native AI agent developed for brokers
Insurtech Verisk acquired SuranceBay for $162.5mn
Insurtech Verisk entered a definitive agreement to acquire SuranceBay, a provider of producer licensin, and compliance software for the life and annuity sector, for $162.5mn
Athora acquires the UK’s Pension Insurance Corp. Group for £5.7 bn
Athora Holding, a European savings and retirement business, agreed to acquire the United Kingdom’s Pension Insurance Corp. Group (PICG) for about £5.7 bn
Chesnara acquired the U.K. life insurance business of HSBC Bank for £260 mn
Chesnara and its subsidiaries announced they have entered an agreement to acquire the U.K. life insurance business of HSBC Bank for £260 mn in cash
Nationwide completed $1.25 bn acquisition of Allstate’s group health segment
Nationwide completed its $1.25 bn acquisition of Allstate’s group health segment, positioning itself as a leading provider of employer stop-loss business
Atrium Underwriting acquired by CRC Insurance Group
Atrium Underwriting Group announced it has entered into an agreement to be acquired by independent brokerage and underwriting specialty insurance distributor CRC Insurance Group
Howden acquired a 68.3% majority stake in Holos insurance broker
Howden, the global insurance and reinsurance broking group, acquired a 68.3% majority stake in Holos Holdings, a Kyoto-based retail insurance broker founded in 2001 by Kei Horii
Zurich acquired cyber insurtech BOXX Insurance
Zurich Insurance Group announced its acquisition of BOXX Insurance Inc., a Toronto-based cyber insurance and risk management insurtech
Ergo completed $2.6 bn acquisition of the NEXT Insurance remaining share
Munich Re’s Ergo primary insurance group completed its $2.6 bn acquisition of the remaining share capital of insurtech NEXT Insurance
Enstar closed $5.1 bn acquisition by affiliates of Sixth Street
Enstar Group announced the closing of its $5.1 bn acquisition by investment vehicles managed by affiliates of Sixth Street
Ryan Specialty acquired J.M. Wilson , a Michigan-based MGA offering personal lines
Ryan Specialty Holdings has completed its acquisition of J.M. Wilson Corp., a Michigan-based specialist managing general agent offering personal lines
Mergers and acquisitions insurance claims reached record levels in 2024-2025
Mergers and acquisitions (M&A) insurance claims reached record levels in 2024, with the highest total payouts ever recorded
LHL Strategies acquired software company ClearLife
LHL Strategies, operating as Lighthouse Life, has acquired ClearLife, a UK-based firm with software and consulting operations in both the UK and the US
Regulators approve Aviva’s £3.7 bn acquisition of Direct Line
Aviva plc has received regulatory approval from the Financial Conduct Authority and the Prudential Regulation Authority for its £3.7bn acquisition of Direct Line Insurance Group
Ohio Farmers to sell Westfield Bancorp to First Financial for $325 mn
Ohio Farmers Insurance Co., parent of Westfield Insurance, has agreed to sell Westfield Bancorp to First Financial Bancorp in a cash and stock deal valued at $325mn
Marco Capital acquires R&Q Gamma in continued expansion of run-off portfolio
Marco Capital Holdings, a European property and casualty run-off group, has acquired R&Q Gamma, a subsidiary of R&Q Insurance Holdings
United Risk Global finalized its acquisition of Pinnacle Underwriting
United Risk Global has finalized its acquisition of Pinnacle Underwriting, an Australian managing general agent specializing in facultative reinsurance
ACCC clears Allianz’s acquisition of RAAI personal insurance business in South Australia
Australia’s competition regulator, the Australian Competition and Consumer Commission (ACCC), announced it will not oppose the proposed acquisition
Dai-ichi Life acquires 15% stake in M&G to expand in the U.K. and Europe
Dai-ichi Life Holdings Inc. plans to acquire a 15% stake in M&G plc to expand its operations in the U.K. and European life insurance
Ryan Specialty acquired Irish MGU 360 Degree Underwriting
Ryan Specialty Holdings Inc. said it has acquired 360 Degree Underwriting, an Irish managing general underwriter
Helvetia board approves Caser merger to strengthen position in Spain
Helvetia Group announced that its board of directors has approved a merger involving Caser, Helvetia Seguros, and Helvetia Holding Suizo
Insurance Australia Group acquires RAC’s insurance business valued at A$1.35 bn
Insurance Australia Group reached an agreement with the Royal Automobile Club of Western Australia to acquire RAC’s insurance business in a deal valued at A$1.35 bn
CMA launches inquiry into Aviva’s £3.7 bn acquisition of Direct Line
The U.K. Competition and Markets Authority (CMA) has opened a merger inquiry into Aviva plc’s planned acquisition of Direct Line Insurance Group
Insurtech KatRisk acquired Gamma to strengthen location intelligence and risk capabilities
KatRisk, a provider of catastrophe risk modeling software for the insurance and financial sectors, has acquired Gamma
MGA Revau entered a strategic partnership with MGAs Brazos and Twenty Mile
Canadian P&C managing general agent Revau has entered a strategic partnership with Texas-based MGAs Brazos Specialty Risk Insurance and Twenty Mile Insurance Services
Optio Group acquired Custodian Management, a UK-based MGA
Optio Group, an independent specialty managing general agent (MGA) platform, has acquired Custodian Management, a UK-based MGA
Aspen Insurance adds 2.6 mn shares to IPO, targeting $77.6 mn
Aspen Insurance Holdings plans to add 2.6 mn ordinary shares to its initial public offering at a price of $30 per share, totaling $77.6 mn
MIB is acquiring Clareto from Munich Re Life US
MIB, a provider of data-focused services for the life insurance sector, is acquiring Clareto from Munich Re Life US, a subsidiary of Munich Re
Markel acquires Marine MGA Meco Group, expanding global marine capabilities
Markel, the insurance division of Markel Group, has agreed to acquire Meco Group, a specialist marine managing general agent
Likewize acquired Speedperform, a company specializing in AI customer support
Likewize, a global provider of device protection, repair services, and technical support, has acquired Speedperform, a company specializing in AI-based customer support
Sapiens acquires AdvantageGo for £43 mn to expand global P&C platform in the UK
Sapiens International Corporation, a global software provider for the insurance industry, has signed a definitive agreement to acquire AdvantageGo
AI-insurtech Earnix acquired Zelros, a GenAI startup for insurers
Dynamic AI platform for insurance Earnix has signed a definitive agreement to acquire Zelros, a pioneer in Generative AI for insurers and banks
Mediobanca launches €6.3 bn share offer for 100% of Banca Generali
Mediobanca Group has announced a voluntary share-based exchange offer valued at €6.3 bn to acquire 100% of Banca Generali
Admiral sells U.S. auto insurtech Elephant to refocus on UK & Europe
Admiral Group announced the sale of its U.S. automobile insurtech, Elephant Insurance Co. and Elephant Insurance Services
Vienna Insurance Group acquired a 48.8% stake in financial broker Phinance
Vienna Insurance Group (VIG), based in Austria, has acquired a 48.82% stake in Polish financial broker Phinance
UK-based insurtech Ripe completes acquisition of GJW Direct from Munich Re
UK-based insurtech Ripe has completed the acquisition of marine insurance provider GJW Direct from Munich Re Specialty
Ageas acquires esure for £1.3 bn, expanding UK insurance market position
Ageas has reached an agreement with Bain Capital to acquire esure, a UK-based digital personal lines insurer, for a cash consideration of £1.3 bn
CC Capital completed a $250mn investment in Canadian Westaim
CC Capital has completed a $250mn investment in Westaim Corp., a Canadian company that will operate as an insurance and asset management platform
MS&AD Insurance will sell 15.1% stake in Challenger to TAL Dai-ichi Life Australia
MS&AD Insurance Group Holdings will sell its 15.1% stake in Challenger Ltd. to TAL Dai-ichi Life Australia, a subsidiary of Dai-ichi Life Holdings
Equitable Holdings to acquire 17.9% additional stake in AllianceBernstein for $761 mn
Equitable Holdings announced preliminary results of its cash tender offer to acquire up to 46 mn units of AllianceBernstein Holding L.P. at $38.50 per unit
American Coastal Insurance finalized the sale of Interboro Insurance
American Coastal Insurance Corp. has finalized the sale of Interboro Insurance Co., a New York-based personal lines carrier, to Forza Insurance Holdings, LLC
Global insurance M&A stabilised, as insurers and brokers took a more strategic approach to acquisitions amid falling interest rates and a realignment of strategic priorities
Insurance brokers push debt-financed acquisitions amid slowing growth, Fitch warns credit risks rise but strong cash flow keeps leverage tolerable
Major deals have led global M&A activity in 2024, showing increasing confidence among dealmakers despite geopolitical and economic challenges
Deloitte presents new trends in insurance mergers and acquisitions for 2024-2025, focusing on how economic, regulatory, and strategic factors might shape the future.