Hashtag: #BusinessMergers

Monument Re Acquires Interest In ABN AMRO

Monument Re Acquires Interest In ABN AMRO

Monument Re Limited has acquired full ownership over Benelux Life Run-Off SCS, including its acquisition of ABN AMRO Life Capital Belgium N.V., the Belgian life insurance subsidiary of ABN AMRO [AALCB], subject to regulatory approvals. “Benelux Life Run-Off SCS was recently established by Acathia Capital as the first run-off platform for life... Read more of this article

BAS Group: ITS To Amalgamate With CCS

BAS Group: ITS To Amalgamate With CCS

The BAS Group [BAS] announces that it intends to amalgamate its subsidiary Integrated Technology Solutions Ltd. [ITS] into its fellow subsidiary the CCS Group Limited [CCS]. “Amalgamating the two companies will allow ITS customers to take advantage of CCS breadth and depth of expertise and will allow CCS to expand its offerings to include the... Read more of this article

Monument Re Acquires Irish Life Assurance

Monument Re Acquires Irish Life Assurance

Monument Re Limited has acquired Laguna Life DAC, the Irish life assurance operations of Enstar Group Limited [Enstar]. Completion follows receipt of regulatory approval and satisfaction of closing conditions. Laguna conducts Class I life assurance business, and was placed into run-off in November 2009. It became part of Enstar, a leading global insurance... Read more of this article

AGER Bermuda To Acquire Aegon Ireland

AGER Bermuda To Acquire Aegon Ireland

AGER Bermuda Holding Ltd. [AGER], the holding company of Athene Holding Ltd.’s [Athene] European group companies, will acquire Aegon Ireland plc [Aegon Ireland], a Dublin-based insurer. Consideration for the transaction will be approximately 81% of the own funds of Aegon Ireland as of closing. Solvency II own funds of Aegon Ireland were approximately... Read more of this article

Estera Announces Acquisition Of Headstart

Estera Announces Acquisition Of Headstart

Leading global fiduciary and administration services provider, Estera, has announced the acquisition of Headstart S.à.r.l, a specialist corporate and trust services business in Luxembourg. The transaction paves the way for Estera’s expansion into Luxembourg, one of world’s most important jurisdictions for funds and corporate services, whilst also... Read more of this article

AXIS Capital Announces Acquisition Of Novae

AXIS Capital Announces Acquisition Of Novae

Bermuda-based AXIS Capital Holdings Limited is acquiring Novae Group plc, a diversified specialty [re]insurer that operates through Lloyd’s of London. The $604 million USD transaction adds scale and breadth to the international specialty insurance business of AXIS, creating a $2 billion USD insurer in the London specialty market anchored as a top... Read more of this article

OneBeacon To Be Acquired By IFC For $1.7B

OneBeacon To Be Acquired By IFC For $1.7B

OneBeacon Insurance Group, Ltd. has entered into a definitive merger agreement under which Intact Financial Corporation [IFC] will acquire all outstanding OneBeacon shares for $18.10 in cash per share. The $18.10 per share acquisition price is 1.65 times OneBeacon’s book value per share as of March 31, 2017, and represents a 14% premium to the... Read more of this article

Validus Completes ADM CRS Acquisition

Validus Completes ADM CRS Acquisition

Bermuda-based Validus Holdings Ltd. has completed its acquisition of Archer Daniels Midland Company’s [ADM] Crop Risk Services business [CRS]. CRS is a primary crop insurance managing general agent based in Decatur, Illinois with $555.0 million gross premiums written in 2016 and 1,170 agents across 36 states. Validus’ Chairman and Chief Executive... Read more of this article

WISeKey Completes Acquisition Of QuoVadis

WISeKey Completes Acquisition Of QuoVadis

WISeKey International Holding Ltd, a leading Swiss cybersecurity and IoT company, has completed the previously announced acquisition of QuoVadis Holdings Ltd, a leading cybersecurity company with operating activities in Switzerland, Germany, the Netherlands, Belgium, the United Kingdom and Bermuda. The company said, “The consideration paid to... Read more of this article

PartnerRe Completes Acquisition Of Aurigen

PartnerRe Completes Acquisition Of Aurigen

Bermuda-based PartnerRe Ltd. announced the successful completion of its previously announced acquisition of North American life reinsurance company, Aurigen Capital Limited. Since its formation in 2007, Aurigen has provided risk and capital management solutions tailored to specific customer needs, with its core business being the reinsurance of life... Read more of this article

Sompo Completes Acquisition Of Endurance

Sompo Completes Acquisition Of Endurance

Sompo Holdings has completed its acquisition of Endurance Specialty Holdings Ltd, with Endurance to be integrated into Sompo Holdings through the creation of Sompo International, which will be based in Bermuda. The total consideration for the acquisition is US$ 6.3 bn, and Endurance’s ordinary shares will cease trading following the market close on... Read more of this article

Allied Shareholders Approved Two Proposals

Allied Shareholders Approved Two Proposals

Allied World Assurance Company Holdings, AG shareholders have approved both of the proposals that were voted on at the company’s special shareholder meeting held in connection with the previously announced merger transaction with Fairfax Financial Holdings Limited. The approved matters include: [i] amending the company’s Articles of Association... Read more of this article

R&Q Completes Acquisition Of Linco Limited

R&Q Completes Acquisition Of Linco Limited

Randall & Quilter American Holdings Inc. [R&Q] announced the signing of the sale and purchase agreement to acquire Linco Limited; a wholly owned captive insurer of Ameripride Services Inc. and Alsco Inc. The transaction is subject to regulatory approvals, anticipated within 30 days. The Company is domiciled in Bermuda and provided reinsurance... Read more of this article