Hashtag: #BusinessMergers
Somers Limited Announces Shareholder Merger
In a filing with the Bermuda Stock Exchange [BSX], Somers Limited announced that, effective November 1, 2024, Somers’ largest shareholder, Union Mutual Pension Fund Limited [UMPFL] has merged with General Provincial Life Pension Fund Limited [GPLPFL], with GPLPFL being the continuing entity. The full filing stated: “As a result, the 14,424,184... Read more of this article
BF&M & Argus Unveils New Leadership Team
BF&M and Argus announced their Executive Leadership Committee for the new combined company, pending regulatory and shareholder approval, with the announcement noting that the appointments are “effective upon closing of transaction.” A spokesperson said, “BF&M Limited and Argus Group Holdings Limited today announced the composition... Read more of this article
Arch Completes Acquisition: Allianz Businesses
Arch Insurance North America, part of Arch Capital Group Ltd. announced it has closed the acquisition of the U.S. MidCorp and Entertainment insurance businesses from Allianz originally announced on April 5. A spokesperson said, “Nearly 500 former Allianz MidCorp and Entertainment employees have joined Arch and will provide continuity to clients... Read more of this article
Enstar Group To Be Acquired By Sixth Street
Enstar Group announced that it has “entered into a definitive merger agreement under which Sixth Street will acquire Enstar, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors participating in the transaction. ” A spokesperson said, “Enstar shareholders will receive a total of $338.00 in cash... Read more of this article
Monument Re Acquires Portfolio From Contassur
Monument Re Limited announced today that its Belgian subsidiary Monument Assurance Belgium N.V. has completed the acquisition of a branch 21 closed book classical group life insurance portfolio from Contassur – Contibel Assurances Vie – Contibel Levensverzekeringen SA/NV [Contassur], following receipt of regulatory approval from the National Bank... Read more of this article
BF&M & Argus Announce Merger Agreement
BF&M and Argus Group announced today that they “have signed a definitive amalgamation agreement, pursuant to which BF&M and Argus will combine in an all-stock transaction.” A spokesperson said, “The transaction is subject to required regulatory approvals and shareholder approval with a planned completion date for the amalgamation... Read more of this article
Apex Group Acquires IP Management Company
Apex Group has acquired IP Management Company, a South African unit trust management firm. A spokesperson said, “Apex Group Ltd. [Apex Group or The Group], a global financial services provider, today announces its acquisition of IP Management Company [RF] [Pty] Ltd [IPMC], a South African unit trust management company [ManCo]. “This follows... Read more of this article
Arch To Acquire Businesses From Allianz
Arch Insurance North America, part of Arch Capital Group Ltd, has entered into a master transaction agreement to acquire the U.S. MidCorp and Entertainment insurance businesses, including select specialty insurance programs, from Allianz Global Corporate & Specialty SE [AGCS] for a $450 million cash consideration to Allianz. A spokesperson said,... Read more of this article
RiverStone International Acquires Catalina Ireland
RiverStone International has completed the acquisition of Catalina Insurance Ireland, an Irish insurance company regulated by the Central Bank of Ireland. The transaction received regulatory approval in January and closed on 2 February 2024. Catalina Insurance Ireland has total reserves of approximately US$350 million emanating mainly from a German... Read more of this article
Compre Completes Acquisition Of Two Portfolios
Compre, the Bermuda-domiciled international legacy group, today announces the acquisition of two portfolios of European casualty and motor liabilities from separate undisclosed international insurance groups. A spokesperson said, “All necessary approvals have been granted by Bermudian and European regulators, allowing Compre’s class 3B Bermudian... Read more of this article
Apex Group Acquires Retransform From Annet
Apex Group announced an “exciting” start to 2024, having completed the acquisition of Retransform from The Annet Group. A spokesperson said, “Leading international financial services business Apex Group today announces an exciting start to 2024 after closing its acquisition of Retransform from The Annet Group. “Retransform is... Read more of this article
Northlight Acquires Carrick Group Limited
Carrick Group Limited, a Bermuda-based international non-life legacy insurance business providing reinsurance and run-off solutions, announced that it has been acquired by Northlight QIAIF plc, an Irish regulated company managed by London-based investment manager Northlight Group LLP from Zimmer Financial Services Group.” “Northlight is thrilled... Read more of this article
