Property & Casualty Insurance

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Amlin plc Signs definitive agreement to Increase stake in Leadenhall Capital Partners

Friday, 24 Oct 2014 02:00am EDT

Amlin plc:Says that it has signed definitive legal agreements to increase its existing interest in Leadenhall Capital Partners LLP, an investment manager in (re)insurance-linked securities which Amlin established in joint venture with LCP’s individual partners in 2008.Says under the terms of the agreement, Amlin has increased its current 40 pct interest in the Business to 75 pct via a partial acquisition of each individual partner’s stake.Says the final consideration amount will be determined by the future profitability of the Business, and will be payable in three instalments over the period to May 2016.

Mercury General Corp enters into agreement to acquire Workmen's Auto Insurance Company

Thursday, 23 Oct 2014 08:30am EDT

Mercury General Corp:Has entered into definitive agreement for purchase of Workmen's Auto Insurance Company, subject to regulatory approval.Purchase price is $8 mln and transaction is expected to close during Q1 of 2015.

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.


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Provider: Renaissance Capital
Provider: Edison Investment Research
Provider: Edison Investment Research
Provider: Zacks Investment Research Inc.
Provider: GlobalData

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