Property & Casualty Insurance

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Mansard Insurance PLC completes acquisition of Penman Pensions Limited

Sunday, 18 Jan 2015 07:00pm EST

Mansard Insurance PLC:Announces that it has completed its acquisition of 60pct of Penman Pensions Limited.

XL Group plc announces acquisition of Catlin Group Ltd

Friday, 9 Jan 2015 05:43am EST

XL Group plc:Says it will offer to acquire all of the capital stock of Catlin Group Ltd to form a combined business which is expected to have a presence in the global specialty insurance and reinsurance markets.Under the terms of the transaction, XL will acquire all of Catlin's common shares for consideration of 388 pence in cash and 0.130 share of XL for each Catlin common share.On the basis of the closing price of an XL share on Jan. 8, of $35.42 the offer values Catlin at 693 pence per share.This represents a transaction equity value of about $4.1 bln dollars.

XL Group plc announces acquisition of Catlin Group Ltd

Friday, 9 Jan 2015 05:43am EST

XL Group plc:Says it will offer to acquire all of the capital stock of Catlin Group Ltd to form a combined business which is expected to have a presence in the global specialty insurance and reinsurance markets.Under the terms of the transaction, XL will acquire all of Catlin's common shares for consideration of 388 pence in cash and 0.130 share of XL for each Catlin common share.On the basis of the closing price of an XL share on Jan. 8, of $35.42 the offer values Catlin at 693 pence per share.This represents a transaction equity value of about $4.1 bln dollars.

Co-operators General Insurance Company acquires Bill Hartley Insurance Services

Wednesday, 7 Jan 2015 02:00pm EST

Co-operators General Insurance Company:Says that its wholly-owned subsidiary has purchased Bill Hartley Insurance Services Ltd. in Victoria, British Columbia.Brokerage's portfolio includes home, auto, farm and commercial insurance policies.

AmTrust Financial Services expands expertise in niche workers' compensation insurance market with the acquisition of Oryx Insurance Brokerage

Tuesday, 6 Jan 2015 07:00am EST

AmTrust Financial Services Inc:Acquires privately held Oryx Insurance Brokerage, Inc. from Oryx's principals for cash.Transaction is expected to be immediately accretive and is consistent with AmTrust's expansion of its expertise in niche workers' compensation insurance markets.

Global Indemnity PLC purchases American Reliable Insurance Company

Monday, 5 Jan 2015 08:00am EST

Global Indemnity PLC:Completed previously said agreement to purchase American Reliable Insurance Company from Assurant Inc having satisfied all closing conditions.In transaction with an enterprise value of about $394,000,000, Global Indemnity's U.S. division paid about $114 mln in cash.Paid to Assurant at closing and assumed 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 network of general and independent agents.

American International Group Inc completes acquisition of Ageas Protect

Monday, 5 Jan 2015 01:45am EST

American International Group Inc:Announced the completion of its previously agreed acquisition of Ageas Protect Limited.A provider of term life, critical illness, and income protection coverage to over 350,000 consumers in the UK, Channel Islands and Isle of Man.AIG's agreement to acquire Ageas Protect was announced in Aug 2014.

Hilltop Holdings Inc completes acquisition of SWS Group, Inc

Wednesday, 31 Dec 2014 09:00am EST

Hilltop Holdings Inc:Says that it has completed its acquisition of Dallas-based SWS Group, Inc. PlainsCapital, through its operating subsidiaries PlainsCapital Bank and PrimeLending, provides banking and mortgage origination, respectively.

Fosun International Ltd to acquire Meadowbrook Insurance Group, Inc.

Tuesday, 30 Dec 2014 10:30pm EST

Fosun International Ltd:Says that together with its subsidiaries, Fosun and Meadowbrook Insurance Group, Inc. announced that they have entered into a definitive agreement under which Fosun will acquire Meadowbrook for $8.65 per share in cash, representing an aggregate transaction value of about $433 million.

Assured Guaranty's Assured Guaranty Corp to acquire Radian Asset Assurance Inc

Tuesday, 23 Dec 2014 08:00am EST

Assured Guaranty Ltd:Announced that its subsidiary Assured Guaranty Corp. (AGC) enters into an agreement to acquire Radian Asset Assurance Inc. which conducts financial guaranty business of Radian Group Inc.Immediately following acquisition, AGC will merge with Radian Asset, with AGC as surviving company.The acquisition and merger are expected to be completed in the first half of 2015.Both the acquisition and merger are subject to regulatory approval.Under the agreement, AGC will pay $810 mln in cash to acquire Radian Asset.As of Sept. 30, Radian Asset had an insured portfolio of $19.4 billion of net par, which would bring AGC's total net par outstanding to $68.3 bln.Radian Asset has about $1.3 bln of statutory capital, and Assured Guaranty currently estimates the transaction will increase AGC's statutory capital by $425 mln to $475 mln.BofA Merrill Lynch is acting as financial advisor to Assured Guaranty and Mayer Brown LLP is acting as its legal advisor.

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