Non-life insurance run-off deals Q1 2022

The strong deal momentum observed in the non life run-off sector in 2021 continued in Q1 2022 with 11 deals being announced.

While the number of deals announced was slightly lower than Q1 2021, the total estimated value of executed deals during Q1 2022 exceeded that of the same period in 2021 ($4.2bn vs $3.3bn respectively), driven by the significant Enstar and Aspen deal.

The majority of activity in the quarter was in North America where transaction values accounted for over half of the total deals announced in the quarter. There was also strong activity in the UK & Ireland where four deals were announced and a further two deals were announced in Continental Europe.

Eight different consolidators have transacted during Q1 2022 with a variety of transaction structures being utilised including ADCs, LPTs, RITCs and share sales.

How we can support our clients

The non-life insurance run-off deals team has access to more than 200 specialists who can provide expert support throughout the deal lifecycle, including:

Commercial, financial, regulatory and operational due diligence
Deal feasibility studies and strategic options analyses
Transaction structuring advice
Preparation of marketing materials and running of disposal process
Bidder identification and deal negotiation support
Actuarial support including deal pricing, reserving and capital optimisation
Post-transaction separation and migration advice

About the data

The data used in this publication has been sourced from company announcements and other publicly available information from date of publication rather than from completion date.

A further breakdown of the deals in the period split by acquirer and the quarter transacted can be found in the linked download below.