M&A Deal Summary

Applied Underwriters Acquires Catlin Specialty Insurance

On February 23, 2022, Applied Underwriters acquired insurance company Catlin Specialty Insurance from AXA XL

Acquisition Highlights
  • This is Applied Underwriters’ 7th transaction in the Insurance sector.
  • This is Applied Underwriters’ 6th transaction in the United States.
  • This is Applied Underwriters’ 1st transaction in Connecticut.

M&A Deal Summary

Date 2022-02-23
Target Catlin Specialty Insurance
Sector Insurance
Buyer(s) Applied Underwriters
Sellers(s) AXA XL
Deal Type Divestiture

Target

Catlin Specialty Insurance

Stamford, Connecticut, United States
Catlin Insurance Company operates as an insurance company that offers casualty, professional, property, construction, and specialty insurance services.

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Buyer(S) 1

Buyer

Applied Underwriters

Omaha, Nebraska, United States

Category Company
Founded 1994
Sector Insurance
DESCRIPTION

Applied Underwriters designs financial services and workers' compensation solutions to meet the real needs of small and mid-sized businesses nationwide. With insurance carriers rated 'A' by A.M. Best Company and as part of the Berkshire Hathaway family, we offer rock-solid workers' compensation coverage along with some of the hardest-working products and services available on the market today.


DEAL STATS #
Overall 7 of 7
Sector: Insurance M&A 7 of 7
Type: Divestiture M&A Deals 2 of 2
State: Connecticut M&A 1 of 1
Country: United States M&A 6 of 6
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-23 Alaska Timber Insurance Exchange

Ketchikan, Alaska, United States

Alaska Timber Insurance Exchange was formed by members of the Alaska Loggers Association, which is now the Alaska Forest Association. ATIE's membership includes a diverse group of employers located throughout Alaska. AM Best has issued a Financial Strength Rating of 'A-' (Excellent) and Issuer Credit Rating of 'a-' to Alaska Timber Insurance Exchange. Alaska Timber Insurance Exchange was formed in 1980 and is based in Ketchikan, Alaska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-18 Centauri Insurance

Sarasota, Florida, United States

Centauri Insurance is a property and casualty insurance company provides catastrophe coverage and for its ability to provide financial protection to its policyholders, through innovative solutions and personalized service. Centauri Insurance was founded in 2006 and is based in Sarasota, Florida.

Sell -

Seller(S) 1

SELLER

AXA XL

Hamilton, Bermuda

Category Company
Sector Insurance
DESCRIPTION

AXA XL, the property & casualty and specialty risk division of AXA, provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally.


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Connecticut M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 New Ocean Capital

Hamilton, Bermuda

New Ocean Capital is an asset manager focused on sourcing investment opportunities in the traditional (re)insurance market, the collateralized reinsurance market, and the reinsurance capital markets. New Ocean Capital is based in Hamilton, Bermuda.

Buy -