Yu Life secures $120M in series C funding; European pet insurance M&A

Life and health

London-based insurtech Yu Life Ltd. secured $120 million in a series C funding round led by Dai-ichi Life Holdings Inc. The latest round brings the insurtech's total funding to $206 million since it was founded in 2016.

Property and casualty

RSA Insurance Group Ltd. has closed the sale of its 50.00002% shareholding in RSA Middle East BSC(c) to National Life & General Insurance Co. SAOG.

Jab Holding Co. SARL's Pinnacle Pet Group will acquire Germany-based pet insurer Agila Tierversicherung AG from Wertgarantie Group for an undisclosed sum.

Also, Pinnacle Pet Group has agreed to acquire Veterfina Verzekeringsmaatschappij NV and its European subsidiaries for undisclosed financial terms.

Assicurazioni Generali SpA subsidiary Europ Assistance Holding SAS acquired a 74.6% stake in the Bahrain-based GULF Assist BSC from Mapfre Asistencia for an undisclosed sum.

Geo Underwriting Services Ltd., the managing general agent segment of The Ardonagh Group Ltd., has completed the acquisition of U.K.-based Lorega Holdings Ltd.

Dublin-based Ardonagh Europe Ltd. has agreed to acquire Amsterdam-based Léons Group, subject to regulatory approvals.

Charles Taylor Ltd. acquired Rotterdam, Netherlands-based V+B Group, comprising Verschoor & Bras BV, Marinco Survey BV and Marintec Expertise BV.

Miller Insurance Services LLP acquired Tokyo-based Lead Insurance Services Ltd. The target specializes in hull, war risks, and protection and indemnity insurance.

Reinsurance

Axa SA completed its transformation into Axa Group's internal reinsurer following its merger with captive reinsurer Axa Global Re on June 30.

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