The American private equity fund Apollo Global Management is considering acquiring the Bermudan insurer Aspen Insurance Holdings. The 2.6 billion USD transaction which will be financed in cash is expected to be completed in the first half of 2019.
The amount of assets managed by Apollo as of June 30, 2018 amounted to 270 billion USD divided into private equity funds, credit funds and real estate funds. For their part, Aspen's assets are estimated at 12.9 billion USD.
Several large investment funds, such as Carlyle Group LP and Blackstone Group LP have embarked on a wave of asset buyouts in the insurance business. The Apollo group itself has recently become distinguished with its reinforcement in the capital of the reinsurer Catalina Holdings (Bermuda) Ltd in early 2018 and the support given to its reinsurance subsidiary, Athene Holding, as part of its strategy of European conquest.
The sale of AXA Life Europe by AXA [4] is another similar transaction under way. Axa Life Europe is expected to be taken over by the British private equity group Cinven for an amount of about 1.4 billion USD.