Brookfield Reinsurance to acquire Argo

Brookfield Reinsurance, the Canadian group Brookfield Asset Management's reinsurance entity, and the American insurer Argo Group International Holdings have signed a definitive merger agreement.

According to the terms of the transaction, Brookfield Reinsurance is acquiring Argo for an amount of 1.1 billion USD.

This takeover will allow Brookfield Reinsurance to pursue its expansion on the North American direct market.

The deal is still pending the approval of the competent authorities and should be completed in the second half of 2023.