Hashtag: #BusinessMergers

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

Bluefin Payment Systems Partner With FAC

Bluefin Payment Systems Partner With FAC

Bluefin Payment Systems, a provider of PCI-validated Point-to-Point Encryption [P2PE] solutions, has formed a new partnership with First Atlantic Commerce [FAC], an online payments and fraud and data management solutions provider. The partnership will further enhance data security for companies using FAC’s payment gateway with the addition of Bluefin’s... Read more of this article

Fairfax Financial & Allied World Merger Update

Fairfax Financial & Allied World Merger Update

Fairfax Financial Holdings and Allied World Assurance Company Holdings, AG have agreed to extend to March 10, 2017 the deadline by which Fairfax has the option to increase the cash consideration, and correspondingly reduce the “Fixed Value Stock Consideration” under the terms of the previously announced definitive merger agreement entered... Read more of this article

WISeKey Signs Agreement To Acquire QuoVadis

WISeKey Signs Agreement To Acquire QuoVadis

Swiss cybersecurity and IoT company WISeKey International Holding Ltd announced that it has signed a binding agreement to acquire 85% of QV Holdings [QuoVadis] a leading managed Public Key Infrastructure [mPKI], Certification Authority [CA] and electronic signature services [eID] company domiciled in Bermuda with operating activities in Switzerland,... Read more of this article

Assured Guaranty Complete Acquisition Of MBIA

Assured Guaranty Complete Acquisition Of MBIA

Bermuda-based Assured Guaranty Ltd. [together with its subsidiaries, Assured Guaranty] announced that its subsidiary Assured Guaranty Corp. [AGC] completed its acquisition of MBIA UK Insurance Limited [MBIA UK], the European operating subsidiary of MBIA Insurance Corporation, in accordance with the agreement announced on September 29, 2016. “Assured... Read more of this article

Elliott Acquires A Controlling Interest In Aeolus

Elliott Acquires A Controlling Interest In Aeolus

Aeolus Capital Management Ltd. announced the closing of the previously announced proposed transaction between Aeolus and Elliott Management Corporation [Elliott] pursuant to which Elliott Associates, L.P. and Elliott International, L.P., two funds managed by Elliott, have acquired a controlling interest in Aeolus and its affiliated entities. Elliott... Read more of this article