Property & Casualty Insurance

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Atlas Financial Holdings signs definitive agreement to acquire Global Liberty Insurance Company of New York and Related Companies

Friday, 17 Oct 2014 12:33pm EDT

Atlas Financial Holdings Inc:Says to acquire Global Liberty Insurance Company of New York along with its affiliated underwriting and premium finance companies for $25 mln.Upon the closing of the transaction, Atlas will continue to manage Global Liberty's public auto insurance business utilizing its best practices and intends to provide a seamless transition for existing Global Liberty customers and agents.Says purchase price will include $4 mln of AFH preferred shares with an annual dividend rate of 4.5pct, payable in cash or in kind, which are convertible to AFH common stock after the fifth anniversary of issuance at a strike price of $20 per common share.Remainder of the purchase price will be paid in cash. An earn out of up to an additional $1 million may be paid based on underwriting profitability of the New York business during the three years subsequent to the transaction effective date.

Global Indemnity PLC agrees to purchase American Reliable Insurance Company

Thursday, 16 Oct 2014 06:21pm EDT

Global Indemnity PLC:Says its U.S. affiliate agreed to purchase American Reliable Insurance Company from Assurant, Inc.In a transaction with an enterprise value of about $394,000,000, Global Indemnity's U.S. division will pay about $114,000,000 in cash to Assurant at closing and assume about $280,000,000 in customary insurance related liabilities, obligations, and mandates.American Reliable, with facilities in Scottsdale, Arizona, and Omaha, Nebraska, writes specialty personal lines and agricultural property and casualty insurance, in each case distributed through a network of general and independent agents.

Berkshire Hathaway Inc. to acquire Van Tuyl Group

Thursday, 2 Oct 2014 08:05am EDT

Berkshire Hathaway Inc:Enters into a definitive agreement pursuant to which Berkshire Hathaway will acquire the Van Tuyl Group.Says the transaction is expected to be completed in the first quarter of 2015.Says Stephens Inc. is serving as financial advisor to Van Tuyl Group. DLA Piper is providing legal advice to Van Tuyl Group, and Munger, Tolles & Olson LLP is providing legal advice to Berkshire Hathaway.

Amtrust Financial Services Inc completes acquisition of Comp Options Insurance Company Inc

Wednesday, 1 Oct 2014 08:18am EDT

Amtrust Financial Services Inc:Completes acquisition of Comp Options Insurance Company, Inc. (Comp Options), a subsidiary of Blue Cross & Blue Shield of Florida, for cash.Purchase price was about 1.2 times tangible book value.

Helios Underwriting PLC completes acquisition of Lloyd's Limited Liability Vehicle

Wednesday, 17 Sep 2014 06:52am EDT

Helios Underwriting PLC:Further to announcement on July 9 Company announces that acquisition of Dumasco Limited has completed.

AmTrust Financial Services Inc acquires renewal rights to Tower Commercial Lines Business

Monday, 15 Sep 2014 10:28am EDT

AmTrust Financial Services Inc:Says in connection with closing of ACP Re's acquisition of Tower Group International, Ltd. (Tower), AmTrust and ACP Re have entered into series of agreements by which AmTrust has acquired renewal rights to Tower's commercial lines business.

Fairfax Financial Holdings Limited to acquire Pethealth Inc. for $2.79 per share in cash

Sunday, 31 Aug 2014 06:31pm EDT

Fairfax Financial Holdings Limited and Pethealth Inc:Says that they have entered into an arrangement agreement under which Fairfax will acquire all of the outstanding common shares of Pethealth for $2.79 per share in cash.Says in addition, under the terms of the transaction, Fairfax will acquire all of the outstanding preferred shares of Pethealth for a purchase price of $2.79 per share in cash, plus any dividends accrued but unpaid up to, but excluding, the day of closing.Says total cash consideration of about $100 million will be paid for Pethealth's common and preferred shares and options.

Markel corp's Markel Ventures announces acquisition of Vanderpol & Den Boer

Friday, 29 Aug 2014 04:30pm EDT

Markel Ventures Inc:Says its subsidiary, AMF/Tromp B.V., has completed acquisition of Tromp-Pol Baking Equipment B.V. (Vanderpol) and Den Boer Baking Systems B.V. (Den Boer).Vanderpol and Den Boer design and manufacture waffle equipment, handling equipment, and ovens for bakers worldwide.Both companies are headquartered in the Netherlands.Following acquisition, Vanderpol and Den Boer will be combined with previously acquired Tromp Bakery Equipment to form Tromp Group, member of Markel Bakery Group family of companies.Markel Ventures Inc is wholly-owned subsidiary of Markel Corporation.

Steadfast Group Ltd enters into scheme implementation deed to acquire Calliden Group

Tuesday, 26 Aug 2014 11:00pm EDT

Steadfast Group Ltd:Says that it has entered into a scheme implementation deed (SID) with Calliden Group Limited to acquire all the issued shares of Calliden by scheme of arrangement.Calliden shareholders will receive a total of 46.5 cents per share if the Scheme is approved, consisting of cash consideration from Steadfast of 41.5 cents per share and a special fully franked dividend of 5.0 cents per share.Says based on 226.7 million issued shares, the Scheme values Calliden at $105.4 million and consists of $94.1 million cash consideration from Steadfast and an $11.3 million special dividend payment from Calliden.

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