Tag: Business mergers and takeovers
Regulatory Authority Issues ICOL To Logic
The Regulatory Authority [RA] has revoked the Emergency Order it issued when it learned of the merger of internet service providers North Rock and Logic Communications. This order was preventing the companies from receiving the ICOLs [Integrated Communications Operating Licences] they would otherwise have received on 29 April with the rest of Bermuda’s... Read more of this article
Athene To Sell Aviva Life Insurance Unit
In a transaction contingent upon its pending acquisition of the US annuity and life insurance operations of Aviva plc, Bermuda-based Athene Holding Ltd. has entered into a definitive agreement to sell, through a reinsurance arrangement, Aviva USA’s life insurance business to Commonwealth Annuity and Life Insurance Co., a wholly owned subsidiary... Read more of this article
Banker Larry Slaughter Joins Lazard Ltd.
Lazard Ltd., the largest independent merger-advisory firm, hired Larry Slaughter as a managing director and vice chairman in its investment-banking business. Mr. Slaughter, 49, was previously co-head of North American investment banking at JPMorgan Chase & Co., the biggest US lender, and also served as head of European investment banking corporates... Read more of this article
Video: KeyTech & North Rock Expand On Merger
North Rock CEO Vicki Coelho and KeyTech CEO Lloyd Fray held a press conference this morning [Apr 29] to expand on the amalgamation of the two internet providers, which has now taken place. Last week Logic and North Rock announced they agreed to amalgamate, and said the new entity will be a wholly owned subsidiary of KeyTech. KeyTech is the parent company... Read more of this article
Markel Corp. Postpones Closing Of Alterra Deal
Markel Corporation said it is postponing the closing of its acquisition of Bermuda reinsurance firm Alterra Capital Holdings until May 1. The deal had been set to close this week. It was announced in December that Alterra Capital Holdings Limited would be acquired by Virginia-based insurance holding company Markel Corporation in a deal worth approximately... Read more of this article
Canopius Merger With Tower Completed
Tower Group, Inc. today [Mar. 13] announced the closing of its merger with Canopius Holdings Bermuda Limited which will become effective this evening following the close of trading on The NASDAQ Global Select Market. Upon closing of the merger, Tower will become an indirect wholly-owned subsidiary of Canopius Bermuda, which will change its name effective... Read more of this article
Markel & Alterra Shareholders Approve Merger
Markel Corporation and Alterra Capital Holdings Limited confirmed that their respective shareholders have voted in favor of all proposals necessary for the acquisition of Alterra by Markel. Completion of the transaction remains subject to receipt of regulatory approvals and other customary closing conditions and is expected to occur in the second quarter... Read more of this article
PartnerRe Ltd. Completes Acquisition Of Presidio
PartnerRe Ltd. today [Jan 2] confirmed the successful completion of its previously announced acquisition of California-based Presidio Reinsurance Group, a U.S. specialty accident and health reinsurance and insurance writer. All required regulatory approvals have been obtained. The Presidio Reinsurance Group currently underwrites approximately $250 million... Read more of this article
Presidential Life & Athene Complete Merger
Presidential Life Corporation, a Delaware corporation headquartered in Nyack, NY, and Athene Holding Ltd., a Bermuda-based holding company, confirmed the completion of the acquisition of Presidential Life by Athene Holding’s wholly owned subsidiary, Athene Annuity & Life Assurance Company, a Delaware-domiciled insurer focused on retail fixed... Read more of this article
Markel To Acquire Alterra For Approx. $3.13B
Bermuda-based Alterra Capital Holdings Limited will be acquired by Markel Corporation, in a deal worth approximately $3.13 billion. Alterra CEO Marston Becker is expected to leave the company following the close of the transaction. Under the terms of the agreement, the aggregate consideration for Alterra is approximately $3.13 billion, based on a... Read more of this article
