Tag: Business mergers

Enstar Group Completes Companion Acquisition

Enstar Group Completes Companion Acquisition

Bermuda-based Enstar Group Limited announced that one of its wholly owned subsidiaries completed the previously announced acquisition of Companion Property and Casualty Insurance Company from Blue Cross and Blue Shield of South Carolina. Companion is a South Carolina-based insurance group writing property, casualty, specialty and workers compensation... Read more of this article

Bermuda M&A To “Combat Competitive Stress”

Bermuda M&A To “Combat Competitive Stress”

According to Fitch Ratings, the Bermuda market is seeing increased consolidation activity in 2015 as “several companies have recently jumped into the merger and acquisition [M&A] forum to combat the competitive stress in the re/insurance market” and the ”trend is driven by challenging market conditions that are limiting organic... Read more of this article

BAC Group Acquires Universal Electric Limited

BAC Group Acquires Universal Electric Limited

The BAC Group of Companies [BAC] and Universal Electric Limited [UEL] said they have completed  a transaction for BAC to acquire the assets of UEL effective as of Friday, January 23rd, 2015. The company said, “The agreement is a friendly cash and stock transaction which will see the assets incorporated into a new operating entity: BAC Universal... Read more of this article

AXIS & PartnerRe To Combine In $11B Merger

AXIS & PartnerRe To Combine In $11B Merger

Two more Bermuda re/insurers are set to merge, with AXIS Capital Holdings Limited and PartnerRe Ltd. today announcing that they have signed a “definitive amalgamation agreement to create one of the world’s preeminent specialty insurance and reinsurance companies, with gross premiums written in excess of $10 billion, total capital of more than... Read more of this article

RA Invites Comments On Digicel/BTC Deal

RA Invites Comments On Digicel/BTC Deal

The Regulatory Authority said they have been notified of Digicel’s intention to purchase 100% ownership of The Bermuda Telephone Company Limited [BTC] from Barrie Holdings, and are inviting “interested third parties to submit their possible observations on the proposed transaction.” Last week Digicel confirmed they have “finalised... Read more of this article

Platinum To Hold Special Shareholder Meeting

Platinum To Hold Special Shareholder Meeting

Platinum Underwriters Holdings, Ltd. has scheduled a special meeting of its shareholders for February 27, 2015, in connection with Platinum’s pending acquisition by RenaissanceRe Holdings Ltd. RenaissanceRe previously announced it will acquire Platinum in a deal worth approximately $1.9 billion, with the transaction between the two Bermuda-based... Read more of this article

Athene Holding Ltd. To Acquire DLD AG

Athene Holding Ltd. To Acquire DLD AG

Athene Holding Ltd., a Bermuda-based insurance holding company, will acquire Delta Lloyd Deutschland AG and its subsidiaries, the German subsidiary companies of Delta Lloyd NV, an Amsterdam-based financial services provider. DLD is based in Wiesbaden, Germany, and provides retirement savings products to the German market. DLD had assets of approximately... Read more of this article

Digicel Confirms They “Intend To Acquire” BTC

Digicel Confirms They “Intend To Acquire” BTC

Digicel has confirmed they have “finalised an agreement whereby Digicel intends to acquire BTC,” saying they believe that “BTC’s fixed voice and internet services will complement Digicel’s mobile offerings allowing Digicel to bring better services and value to consumers.” A statement from Digicel said, “As a complete... Read more of this article

XL Group To Buy Catlin Group For $4.1 Billion

XL Group To Buy Catlin Group For $4.1 Billion

XL Group today [Jan 9] announced that it has entered into an agreement under which XL will offer to acquire all of the capital stock of Bermuda-based Catlin Group Limited to form a combined business to be known as XL Catlin, with the deal worth approximately $4.1 billion dollars. The transaction is structured as a scheme of arrangement and is expected... Read more of this article

P&C Insurers End 2014 With Acquisition Pick Up

P&C Insurers End 2014 With Acquisition Pick Up

“Acquisition activity in the North American property/casualty [re]insurance market picked up in fourth-quarter 2014, which may portend further deals in the coming year,” says Fitch Ratings. A statement from the ratings agency said, “Limited organic growth and profit potential amid unfavorable insurance pricing trends and intense market... Read more of this article


Latest Tweets From Bernews