Manulife Financial Corporation has confirmed a significant $5.4 billion reinsurance agreement with Reinsurance Group of America (RGA), a transaction that includes $2.4 billion of long-term care (LTC) reserves. This deal marks another milestone in Manulife’s strategy to optimize its portfolio, enhance returns, and reduce risk exposure. Transaction highlights The reinsurance arrangement covers two distinct blocks […]
In a significant expansion move, Aviva plc has finalized the acquisition of Probitas Holdings (Bermuda) Limited for a total consideration of £249 million. This strategic purchase, first announced on March 4, 2024, not only enhances Aviva’s capabilities but also marks its entry into the prestigious Lloyd’s market. The acquisition encompasses Probitas’s fully-integrated Lloyd’s platform, including […]
Zurich Insurance Group has announced a significant expansion in the travel insurance sector with its acquisition of AIG’s global personal travel insurance and assistance business, AIG Travel, for USD 600 million. This deal also includes a potential additional earn-out payment and is set to merge AIG Travel with Zurich’s subsidiary, Cover-More Group, significantly enhancing Zurich’s […]
Specialist Risk Group (“SRG”), a prominent specialist insurance intermediary known for its focus on people and culture, has entered into a definitive agreement for acquisition by Warburg Pincus and Temasek. This partnership is anticipated to bolster SRG’s trajectory towards further growth and expansion. The closing of the acquisition is contingent upon satisfying customary conditions, including […]
In a strategic move to bolster its leadership team and reinforce its commitment to excellence in the insurance sector, The Hartford has announced the appointment of Matthew Massaro as the head of sales and underwriting for its Middle and Large Commercial Businesses’ Northeast Division. With this appointment, Massaro takes on the mantle of leading sales […]
