M&A Deal Summary

Hannover Ruck Acquires Scottish Re - Reinsurance Portfolio

On April 18, 2011, Hannover Ruck acquired insurance company Scottish Re - Reinsurance Portfolio from Scottish Re

Acquisition Highlights
  • This is Hannover Ruck’s 1st transaction in the Insurance sector.
  • This is Hannover Ruck’s 1st transaction in the United States.

M&A Deal Summary

Date 2011-04-18
Target Scottish Re - Reinsurance Portfolio
Sector Insurance
Buyer(s) Hannover Ruck
Sellers(s) Scottish Re
Deal Type Divestiture

Target

Scottish Re - Reinsurance Portfolio

United States
Scottish Re Reinsurance Portfolio covers the mortality risk under term life and endowment policies that were reinsured by Scottish Re in the underwriting years 2000 to 2003.

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Buyer(S) 1

Buyer

Hannover Ruck

Hannover, Germany

Category Company
Founded 1966
Sector Insurance
Employees4,013
Revenue 2.7B EUR (2024)
DESCRIPTION

Hannover Ruck is a provider of reinsurance products and services in Germany and internationally. Company operates through two segments, Property & Casualty Reinsurance, and Life & Health Reinsurance. Hannover Ruck was founded in 1966 and is based in Hanover, Germany.


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: United States M&A 1 of 1
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-22 Clarendon Insurance Group

New York,, New York, United States

Clarendon Insurance Group, Inc. is a property and casualty insurance company. It also offers specialty insurance products.

Sell $200M

Seller(S) 1

SELLER

Scottish Re

Hamilton, Bermuda

Category Company
Founded 1998
Sector Insurance
DESCRIPTION

Scottish Re Group engages in the reinsurance of life insurance, annuities and annuity-type products.


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: United States M&A 1 of 1
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-12 Scottish Re Life

Charlotte, North Carolina, United States

Scottish Re Life Corp. is a provider of einsurance services.

Buy -