Hashtag: #BusinessMergers

AXIS Capital Completes Acquisition Of Novae

AXIS Capital Completes Acquisition Of Novae

Bermuda-based AXIS Capital Holdings has received clearance from all applicable regulators, including the European Commission, and has finalized the completion of its acquisition of Novae Group plc. The acquisition creates a $2 billion insurer in London and a top ten [re]insurer at Lloyd’s, with total global gross written premiums of $6 billion [based... Read more of this article

Apollo Affiliates Acquire Shareholding In Catalina

Apollo Affiliates Acquire Shareholding In Catalina

Catalina Holdings [Bermuda] Ltd announced that Apollo Global Management — together with its consolidated subsidiaries — signed a definitive agreement to acquire a majority shareholding in Catalina. The agreement is subject to customary regulatory conditions, among others, and is expected to close in the first quarter of 2018. Affiliates... Read more of this article

White Mountains Announce Merger Completion

White Mountains Announce Merger Completion

White Mountains Insurance Group, Ltd. [WTM] announced the completion of the previously announced merger of OneBeacon Insurance Group, Ltd. [OB] with a subsidiary of Intact Financial Corporation [IFC]. White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange under the... Read more of this article

AXIS Capital To Acquire Shares Of Novae Group

AXIS Capital To Acquire Shares Of Novae Group

Following consultation with the European Commission, and in accordance with applicable regulations, Bermuda-based AXIS Capital Holdings will complete its acquisition of Novae Group plc in two phases, beginning with the acquisition of Novae shares, expected to occur on October 2, 2017. This is to be followed by management control and integration of... Read more of this article

Approval For Intact Acquisition Of OneBeacon

Approval For Intact Acquisition Of OneBeacon

OneBeacon Insurance Group announced that all regulatory approvals required to complete the previously announced acquisition of the company by Intact Financial Corporation under the terms of the merger agreement have been obtained. The transaction is expected to be completed on September 28, 2017. Intact will acquire OneBeacon for $18.10 per common... Read more of this article

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