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Axis Capital Holdings, ‍novae Group reach agreement on recommended cash offer

Wednesday, 5 Jul 2017 05:30pm EDT

July 5 (Reuters) - Axis Capital Holdings Ltd -:Axis Capital Holdings-co, ‍novae group reached agreement on recommended all cash acquisition of entire issued and to be issued share capital of Novae by Axis.Axis Capital Holdings Ltd - cash consideration payable under acquisition will be funded from Axis's existing cash resources or from new borrowings.Axis Capital Holdings Ltd - ‍under terms of acquisition, each novae shareholder will be entitled to receive 700 pence in cash for each novae share ​.Axis Capital Holdings - Novae directors confirm they intend unanimously to recommend that novae shareholders vote to approve scheme at court meeting.Axis Capital Holdings Ltd - anticipated that Novae will be merged into international division of Axis's insurance segment.Axis Capital Holdings Ltd - co's intention to consider employees of both axis and novae to fill roles within enlarged group.

Vienna Insurance Group: change at the managing board

Tuesday, 30 May 2017 10:59am EDT

May 30 (Reuters) - VIENNA INSURANCE GROUP ::CHANGE AT THE MANAGING BOARD OF VIENNA INSURANCE GROUP.ON 1 JULY 2017, ROLAND GRÖLL WILL MOVE FROM HIS POSITION AT VIENNA INSURANCE GROUP (VIG) TO BECOME A MEMBER OF MANAGING BOARDS OF WIENER STÄDTISCHE VERSICHERUNG AND DONAU VERSICHERUNG.GERHARD LAHNER WILL BECOME CFO OF KOOPERATIVA POJISTOVNA, A.S., AND A MEMBER OF MANAGING BOARD OF CESKÁ PODNIKATELSKÁ POJISTOVNA, A.S. (CPP) IN PRAGUE.

Patriot National announces review of strategic alternatives

Tuesday, 30 May 2017 06:45am EDT

May 30 (Reuters) - Patriot National Inc :Patriot national announces review of strategic alternatives.Patriot national - board formed a new special committee of independent directors to explore and review a range of strategic alternatives for company.Patriot national - does not intend to discuss or disclose further developments unless and until board has approved a specific action.

Zurich Insurance reinsures $2.3 bln book with Reinsurance Group of America

Thursday, 18 May 2017 12:05pm EDT

May 18 (Reuters) - Zurich Insurance Group Ag :says subsidiary Farmers New World Life signed an agreement with Reinsurance Group of America <<>> to reinsure a portion of its closed U.S. annuity book, representing reserves of roughly $2.3 billion."The transaction with Reinsurance Group of America is another example of how the Group actively manages its capital and sharpens its business profile. This transaction reduces risk and continues the process of simplifying the group and releasing capital from non core activities as communicated at the time of our investor day in 2016," CFO George Quinn said in a statement.

Unipol Gruppo Finanziario Q1 net profit up at EUR 157 million

Thursday, 11 May 2017 12:41am EDT

May 11 (Reuters) - Unipol Gruppo Finanziario SpA ::Q1 NET PROFIT EUR 157 MILLION VERSUS EUR 151 MILLION YEAR AGO.COMBINED RATIO OF DIRECT BUSINESS IN Q1 STOOD AT 95 PCT (96.5 PCT NET OF REINSURANCE), COMPARED TO 94.3 PCT IN THE SAME PERIOD 2016.UNIPOL GRUPPO FINANZIARIO SPA SAYS HOLDS 9.9 PERCENT OF BPER BANCA.

Novae says written premiums up 13.8 pct in Q1 at constant currency

Wednesday, 10 May 2017 02:00am EDT

May 10 (Reuters) - Novae Group Plc ::Trading update for period ended 31 march 2017.GWP of 354.9 mln stg (Q1 2016: 282.8 mln stg); 13.8 pct growth at constant rates of exchange during period.Q1 rates on renewal business down 2 pct across whole account.Q1 claims performance across core lines was broadly in line with expectations.Unlikely that group will achieve a combined ratio below 100 pct for financial year.Q1 investment return: 0.7 pct (Q1 2016: 1.2 pct), ahead of target return.Investment return for first three months of 2017 was 10.3 mln stg on average assets of 1,472.5 million stg.

After Brexit, Lancashire says in no hurry to set up EU base

Thursday, 4 May 2017 04:04am EDT

May 4 (Reuters) - Lancashire Holdings Ltd ::Official says co in no hurry to set up EU base, sees staying in the UK for the foreseeable future.Official says co says will wait for outcome of Brexit talks before deciding on EU base.Official says co says European income accounts for under 8 percent of group's overall income.Official says co says has options to write EU business out of Bermuda HQ or via Lloyd's Of London's <<>> Brussels base.

Insurance broker JLT says makes good start in Q1

Thursday, 27 Apr 2017 02:00am EDT

April 27 (Reuters) - Jardine Lloyd Thompson Group Plc :Q1 trading statement 2017.Jlt has made a good start to year.Challenging trading conditions of 2016 in many markets around world have continued in 2017.Momentum in specialty seen in prior periods was maintained.Integration of construction risk partners acquisition is on track.Overall us specialty losses due to investment are anticipated to taper during year.Employee benefits -anticipation remains that this business will deliver organic revenue growth in year and make steady progress towards delivering a 15% trading profit margin for 2018.Too early to determine full-year impact of foreign exchange movements on group's results.Remains confident that organic revenue growth, more in line with historical rates, will be delivered.

Third offering of ASR shares by NLFI

Tuesday, 4 Apr 2017 12:28pm EDT

ASR Nederland NV : NLFI (stichting administratiekantoor beheer financiële instellingen), which is acting on behalf of the Dutch State, has announced its intention to sell up to 20,000,000 ordinary shares of its equity interest in co . Ordinary shares in this third offering represent 13.3 pct of the outstanding share capital of co .Once the transaction has been successfully completed, NLFI’s interest will decrease from 50.1 pct to 36.8 pct of the total outstanding share capital.

eHealth announces completion of strategic alternatives review

Friday, 24 Mar 2017 04:05pm EDT

eHealth Inc : eHealth, Inc. Announces completion of strategic alternatives review . eHealth Inc - eHealth received indications of interest to both acquire and invest in company during process .eHealth - Board has determined that "interests of company's stockholders are best served by focusing on execution of company's strategic business plan".

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