The global M&A market recorded its first positive performance in three years for completed deals, despite the impact of the COVID-19 pandemic on dealmaking during 2020, according to M&A data from Willis Towers Watson. Based on share price performance, the latest results from Willis Towers Watson’s Quarterly Deal Performance Monitor...
EC3 Brokers recently announced new investment from existing shareholder BP Marsh & Partners to accelerate strategic growth while strengthening its expansion plans. This will take BP Marsh’s holding in the broker to 35 percent. EC3 Brokers was recently awarded the healthcare scheme by the Dubai International Financial Centre as the...
RSA recently announced that it had received an approach from Intact and Tryg A/S (together the “Consortium”) regarding a possible cash offer by the Consortium for RSA at a price of 685 pence per RSA share. Under the Proposal RSA shareholders will receive in addition the announced interim dividend of...
Arthur J. Gallagher & Co. (AJG) disclosed that a ransomware attack forced the global enterprise to take its computer systems recently. In a market disclosure with the US Securities Exchange Commission, the insurance broker said it is in “the process of restarting most of our business systems.” “On September 26, 2020, Arthur...
Hannover Re expects to see significant price increases spanning the various lines of property and casualty reinsurance in the treaty renewals as at 1 January 2021, owing to the strains incurred by primary insurers and reinsurers in connection with the Covid-19 pandemic, a further drop in interest rate levels and...
Reinsurer Munich Re has issued a subordinated green bond, with the volume issued amounting to EUR1.25 billion, with a view to helping achieve a climate-friendly transformation of the economy. Munich Re will use the raised capital to finance or refinance sustainable projects in accordance with the company’s Green Bond Framework. Projects...
Toyota Insurance Services (TIS),, a unit of Toyota Insurance Management Europe, and Swiss Re are partnering up to further develop the Swiss Re ADAS risk score. TIS is the next partner after BMW Group to join the ADAS risk score platform and will, as part of the partnership, make Toyota...
Jubilee Holdings Limited (JHL), East Africa’s largest insurance group, and Allianz have signed an agreement to establish a strategic partnership in the five African countries where Jubilee Insurance currently operates. The partnership covers the general insurance business in Kenya, Tanzania and Uganda as well as the short-term insurance segment in...
The International Association of Insurance Supervisors (IAIS) recently published its report “Supervisory issues associated with benchmark transition from an insurance perspective” sharing findings and recommendations from a survey conducted amongst IAIS members. The report focuses primarily on LIBOR transition, given its predominant global role and the short remaining period for...
Swiss Re and Daimler Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new company called Movinx. Both shareholders of the 50/50 joint venture will leverage their complementary expertise to establish a new business model. The aim is to develop fully digital automotive...
