Mergers and Acquisitions
While benefiting from limited rate increases in 2018 and 2019, global reinsurance earnings remain under pressure amid continued challenging business conditions, according to S&P, which expects reinsurer mergers and acquisitions to continue during the next few years.
The Malta-based legacy acquirer, DARAG Group Limited (DARAG), has announced a number of transactions so far in July 2019, including US, UK, and Scandinavian deals.
American International Group, Inc. (AIG), has formed AIG Re to consolidate its reinsurance operations into one global business. AIG has appointed Christopher Schaper as CEO of AIG Re.
Bermuda-based Hamilton Insurance Group, Ltd. (Hamilton), is set to acquire Liberty Mutual Group's Pembroke Managing Agency Limited at Lloyd's and its Dublin-based Ironshore Europe DAC business.
Clyde & Co reported that completed insurance industry mergers and acquisitions (M&A) worldwide remained robust in 2018 with a slowdown in dealmaking during the fourth quarter.