Mayer Brown helps our insurance industry clients achieve strategic corporate and M&A objectives by utilizing our extensive and sophisticated transactional experience in an integrated approach encompassing all relevant specialty areas.
We believe our deep M&A skills and expertise, combined with market-leading practices in all specialties necessary to support M&A transactions as well as our dedicated Global Insurance Industry practice, allow us to work closely with our clients as thoughtful corporate advisors and to deliver outstanding service and value. We advise clients on a variety of strategic transactions, both public and private, across a range of insurance industry sectors and segments, including life, P&C, reinsurance, MGAs/MGUs, brokers and other intermediaries. Consistent with our global footprint, our M&A practice regularly advises clients based in the Americas, Asia and Europe and other jurisdictions around the world in connection with M&A and other strategic transactions.
Learn more about Mayer Brown’s general Mergers & Acquisitions practice.
A representative list of transactions handled by Mayer Brown’s Global Insurance Industry Group is included below.
- Nestlé S.A. in its sale of Gerber Life Insurance Company to Western & Southern Financial Group for $1.55 billion cash.
- KD Group, a Slovenia-based property and casualty insurance company in the €245 million sale of a 100 percent stake in its insurance company Adriatic Slovenica to Italian insurance group Generali.
- The Hartford on its agreement to acquire Aetna’s US group life and disability business for $1.45 billion.
- Pacific Life on its acquisition of the term life new business platform from Genworth Financial.
- A subsidiary of Berkshire Hathaway in its acquisition of Hartford Life International Limited, an Irish domiciled variable annuity writer, for approximately $285 million.
Property Casualty and Runoff
- The Hartford on its $2.1 billion acquisition of The Navigators Group.
- Ascot Group Limited in its acquisition of Greyhawk Insurance Company, a Colorado-domiciled insurance company, and Greyhawk Specialty Insurance Company, a Rhode Island-domiciled insurance company.
- Catalina Holdings (Bermuda) Ltd, a long-term consolidator in the non-life insurance/reinsurance run-off sector, on its acquisition of a $410 million portfolio of US property & casualty liabilities in run off from Arch Reinsurance Ltd.
- GreyCastle Holdings in its $570 million acquisition, backed by a consortium of investors, of the run-off Life Reinsurance operations of XL Group.
- CMIG International, a Singapore-based investment group, in its acquisition of the Latin American businesses of Old Mutual plc, an insurance group.
Mortgage Insurance and Financial Guaranty
- A US mortgage insurer in a PMIERS-compliant, collateralized reinsurance transaction with a panel of reinsurers.
- Radian Guaranty in its $840 million commutation transaction with Freddie Mac.
- A US mortgage insurer in a proposed “deep MI” transaction with Freddie Mac.
- Counsel to the U.S. mortgage insurance trade association in negotiating a new form of master policy with Freddie Mac and Fannie Mae, and related state policy form approvals.
- Assured Guaranty in its $810 million acquisition of Radian Asset Assurance Inc., a US-based provider of financial guaranty insurance and reinsurance, from Radian Group Inc.
Intermediaries, MGAs and Other Service Providers
- Nationwide on its acquisition of E-Risk Services, LLC, a privately-held, leading program manager that specializes in a distinguished portfolio of management lines products.
- Premia Holdings Ltd., a newly formed P&C insurance and reinsurance group focused on providing runoff solutions, in its first acquisition of Alan Gray LLC.
- Wells Fargo in the sale of Wells Fargo Insurance Services USA, which includes its Insurance Brokerage and Consulting, Employee Benefits and Property & Casualty national practices, along with Safehold Special Risk, Small Business Insurance, Student Insurance, Individual Health and Private Risk Management Insurance business lines, to USI Insurance Services LLC.
- Everest Reinsurance Holdings, Inc., in the sale of Heartland Crop Insurance, Inc., a managing general agent in the crop insurance industry, to CGB Diversified Services, Inc.
- Wells Fargo Insurance in the sale of 42 primarily smaller regional insurance brokerage and consulting locations to a subsidiary of USI, Inc.
- Deutsche Bank, as financial adviser to Validus in its acquisition of publicly-traded Bermuda based Flagstone Re.
- Deutsche Bank, the financial advisor to Allied World Assurance Company Holdings AG, in Allied’s $3.2 billion merger bid with Transatlantic Holdings, Inc.
- Peel Hunt, as financial advisor to Markel Corporation in its acquisition of LSE listed Abbey Protection plc for £117m
- Banc of America Securities, as financial advisor, to a leading international insurance organization in its $1.9 billion sale of its US personal auto insurance business, 21st Century Insurance Group, to Farmers Group, Inc., a subsidiary of Zurich Financial Services Group.
- Seng Heng Bank Limited, the second largest locally incorporated bank in Macau, in bidding for a 100% shareholding of Banco Commercial de Macao, S.A. and two insurance companies of the same group in Macau.