Life & Health Insurance

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mBank SA to sell BRE TUiR to Axa SA, signs insurance distribution agreement with Axa SA

Thursday, 11 Sep 2014 08:00pm EDT

mBank SA:Says that the planned sale of its insurance arm to Axa SA will increase its gross profit by 180 million Polish zlotys ($55 million).Says that Axa SA has agreed to buy mBank SA's insurance company BRE TUiR.Says that it has also signed a 10-year insurance distribution agreement with Axa SA.Says the whole deal is worth 135 million euros ($175 million).Says that the transaction is subject to regulatory approval.

Manulife Financial Corp to acquire the Canadian Operations of Standard Life plc

Wednesday, 3 Sep 2014 04:43pm EDT

Manulife Financial Corp:Announced that the Manufacturers Life Insurance Co (MLI) and Standard Life Oversea Holdings Limited, a subsidiary of Standard Life plc, have entered into an agreement.Under which MLI will acquire the Canadian-based operations of Standard Life plc for about $4 billion in cash at closing, subject to certain adjustments.Closing of the transaction is subject to regulatory approvals and the approval of the shareholders of Standard Life plc.Transaction is anticipated to close in the first quarter of 2015.Manulife intends to finance a portion of the purchase price for Standard Life's Canadian operations through a combination of a public offering, a private placement and through internal resourcesand possible future debt and/or preferred share issuances.Morgan Stanley and Scotiabank acted as financial advisors.Osler, Hoskin & Harcourt LLP and Torys LLP acted as legal advisors to Manulife.Blake, Cassels & Graydon LLP acted as legal advisors to Standard Life.

Great-West Lifeco's U.S. subsidiary completes acquisition of J.P. Morgan Retirement Plan Services

Tuesday, 2 Sep 2014 09:00am EDT

Great-West Lifeco Inc:Announces that its U.S. subsidiary Great-West Financial has completed its acquisition of the J.P. Morgan Retirement Plan Services large-market recordkeeping business.Terms of the transaction, which was originally announced in April, were not disclosed.

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

Friday, 29 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.

Baloise Holding AG completes sale of Basler Versicherungs-Aktiengesellschaft in Austria to Helvetia Group

Friday, 29 Aug 2014 01:00am EDT

Baloise Holding AG:Says has completed sale of Basler Versicherungs-Aktiengesellschaft in Austria to Helvetia Group.Says transaction is expected to generate one-off profit of around 70 million Swiss francs in H2 2014.

TrustCo Group Holdings Ltd update on fides acquisition

Thursday, 21 Aug 2014 05:41am EDT

TrustCo Group Holdings Ltd:Concluded sale of shares agreement with shareholders of FIDES Bank Namibia Ltd on May 21.Says in terms of which Trustco will acquire entire shareholding in FIDES and further that transaction requires Namibian Competition Board and Bank of Namibia approval.

Cathay Financial Holding Co Ltd sub-subsidiaries to acquire real estate in London

Tuesday, 19 Aug 2014 09:54pm EDT

Cathay Financial Holding Co Ltd:Sub-subsidiaries Cathay Woolgate Exchange Holding 1 and Cathay Woolgate Exchange Holding 2 to acquire real estate of 25 Basinghall Stree, London EC2, UK with amount of 310,782,579 pounds from 4259050 Canada Inc, 4352769 Canada Inc and TPG WOOL LLC.

MetLife Inc acquires major Retail Center in Florida

Tuesday, 12 Aug 2014 09:00am EDT

MetLife Inc:Acquires The Loop, 435,000 square foot outdoor retail center in Kissimmee, Fla.MetLife bought complex from an institutional client of AEW Capital Management, global real estate investment management services company.Loop is located on nearly 57 acres at intersection of Osceola Parkway and John Young Parkway, south of Orlando's central business district.Built in 2005, the property is 99 percent leased and has 43 tenants, including CVS Caremark Corp., Kohl's Corp., Michaels Stores, Petco, Regal Cinemas and The Sports Authority.

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