Property & Casualty Insurance

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Helios Underwriting plc acquisition of Nameco (No 311) Limited

Friday, 19 Dec 2014 10:38am EST

Helios Underwriting plc:Says in line with its strategy of increasing underwriting capacity through acquisition, it has agreed to acquire Nameco (No 311) Limited, a limited liability member of Lloyd's (LLV) for a total consideration of 1.0 mln pound in cash.Completion is subject to change of control consent from Lloyd's.LLV participates in a spread of Lloyd's syndicates broadly similar to HUW's own participation.

Catlin Group Ltd announces possible offer

Wednesday, 17 Dec 2014 08:20am EST

Catlin Group Ltd:Confirms that it has received an approach from XL Group on a possible combination of XL and Catlin (Possible Offer).Under the indicative terms of the Possible Offer, XL would acquire 100 pct of Catlin for consideration of 410 pence in cash and 0.130 shares of XL for each Catlin common share.On the basis of closing price of an XL share on Dec. 16 of $35.01, an exchange rate of $1.573:1 Pound and a fully diluted share count of 386 mln shares, the Possible Offer values each Catlin share at 699 pence.Under the terms of the Possible Offer, Catlin shareholders would not receive a final dividend for the year ended Dec. 31.Catlin also confirms that it is in advanced negotiations regarding the sale of its interest in Box Innovation Group Limited (trading as ITB).In the event a sale is agreed on terms which generate surplus capital, any distribution of that surplus to Catlin shareholders would be in addition to the indicative terms of the Possible Offer.Discussions are currently ongoing between both parties and the final terms of any Possible Offer are subject to the completion of mutual due diligence.There can be no certainty that the discussions will lead to any transaction or any certainty as to the final terms on which any such transaction might proceed.A further announcement will be made in due course.

Saga plc gives FY 2015 outlook in line with market expectations

Wednesday, 17 Dec 2014 02:00am EST

Saga plc:Says current trading remains in line with market expectations for the FY 2015.

Progressive Corp announces acquisition of controlling position in ARX Holding Corp

Tuesday, 16 Dec 2014 08:35am EST

Progressive Corp:Says it has agreed to acquire a controlling position in ARX Holding Corp., the parent company of American Strategic Insurance (ASI) and its affiliates, for about $875 mln in cash.Says the shares will be purchased primarily from non-management shareholders and will bring Progressive's interest in the company to about 67 pct, up from the 5 pct interest it's held since 2012.Says the transaction is expected to close by April 1, 2015.Says it expects to purchase the remaining shares of the company over the next six years.

Fairfax Financial Holdings agrees to acquire Czech, Hungarian and Slovakian Insurers

Tuesday, 16 Dec 2014 06:00am EST

Fairfax Financial Holdings Ltd:Enters into an agreement with QBE Insurance (Europe) Ltd to acquire QBE's insurance operations in the Czech Republic, Hungary and Slovakia.Scotiabank introduced Fairfax to this acquisition opportunity and provided Fairfax with advisory services for this transaction.

United Insurance Holdings Corp to acquire Family Security Holdings LLC

Monday, 15 Dec 2014 09:00am EST

United Insurance Holdings Corp:Has entered into an agreement and plan of merger with Family Security Holdings LLC (FSH).FSH is an insurance holding company with two subsidiaries, Family Security Insurance Co (FSIC), a Hawaii-domiciled property and casualty insurer authorized in Hawaii and Louisiana, and Family Security Underwriters LLC (FSU).

Mansard Insurance PLC proposes acquisition of 60 pct stake in Pension Fund Administrator

Sunday, 14 Dec 2014 07:00pm EST

Mansard Insurance PLC:Announces that the company has notified The Nigerian Stock Exchange that the company would be acquiring 60 percent of the issued and paid up share capital of a Pension Fund Administrator (PFA).The company informs that it is in the process of completing the transaction and have obtained regulatory approvals from the Pension Commission, the National Insurance Commission and the Securities and Exchange Commission.

Mansard Insurance PLC announces acquisition of Assur Africa Holding Limited

Sunday, 14 Dec 2014 07:00pm EST

Mansard Insurance PLC:Announces that the company has notified The Nigerian Stock Exchange that the process of transferring the ownership of Assur Africa Holding Limited (AAH) to AXA was completed on Dec. 8.Says in view of the acquisition of AAH, the beneficial ownership of the 77 percent of Mandard's shares (the majority shareholder) has changed to AXA while the legal ownership of the shares will not change.

Berkshire Hathaway completes investment in Restaurant Brands International Inc

Friday, 12 Dec 2014 05:30pm EST

Berkshire Hathaway:Says it acquires, through its wholly owned subsidiary National Indemnity Company (NICO), ownership and control of (a) 68,530,939 Class A 9.00 pct Cumulative Compounding Perpetual Preferred Shares in the capital of Restaurant Brands International Inc.And one warrant to purchase 8,438,225 common shares in the capital of the Corporation, at an exercise price of $0.01 per share.Acquisition of Securities was completed pursuant to the terms of a securities purchase agreement dated Aug. 26, 2014 between the Corporation and Berkshire, as amended.Berkshire assigned certain rights under Securities Purchase Agreement, including the right to acquire the Securities, to NICO.Securities were acquired in connection with the closing of the transaction that was initially announced on Aug. 26, 2014 by Tim Hortons Inc. and Burger King Worldwide, Inc.Securities were acquired for an aggregate purchase price of $3,000,000,000.

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Provider: Renaissance Capital
$92.00
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$10.00
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$10.00
Provider: GlobalData
$125.00
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$75.00

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