Tag: Business mergers

RenaissanceRe Completes Platinum Acquisition

RenaissanceRe Completes Platinum Acquisition

[Updated] Bermuda-based RenaissanceRe Holdings Ltd. today [March 2] announced that it has completed its acquisition of Platinum Underwriters Holdings Ltd. Kevin J. O’Donnell, President and Chief Executive Officer of RenaissanceRe, commented: “The combination of RenaissanceRe and Platinum marks an important milestone for our company, benefiting... Read more of this article

Platinum Shareholders Approve RenRe Deal

Platinum Shareholders Approve RenRe Deal

Platinum Underwriters Holdings, Ltd. announced that at a special general meeting of shareholders held earlier today [Feb 27], all proposals related to the Company’s pending acquisition by RenaissanceRe Holdings Ltd. were overwhelmingly approved by the Company’s shareholders. “I’d like to thank our shareholders for their support... Read more of this article

Mergers “Likely To Give Rise To Redundancies”

Mergers “Likely To Give Rise To Redundancies”

The “merger mania” we have witnessed in Bermuda’s re/insurance business in the past year is “likely to give rise to redundancies,” Finance Minister Bob Richards said as he delivered the 2015/16 Budget in the House of Assembly on Friday [Feb 20]. In recent months, XL Group confirmed it will acquire Catlin Group, RenaissanceRe... Read more of this article

RenaissanceRe’s Definitive Election Deadline

RenaissanceRe’s Definitive Election Deadline

Bermuda-based RenaissanceRe Holdings Ltd. announced the definitive election deadline of 5:00 p.m. Eastern Time on February 26, 2015 for shareholders of Platinum Underwriters Holdings, Ltd. to make an election to receive [i] 0.2960 RenaissanceRe common shares and $35.96, [ii] $66.00, subject to proration, or [iii] 0.6504 RenaissanceRe common shares,... Read more of this article

Fitch Ratings: Alt-Capital Influx Fuels M&A

Fitch Ratings: Alt-Capital Influx Fuels M&A

The expansion of alternative capital sources within the reinsurance market is likely to contribute to lower returns on equity across the reinsurance sector and sustain the market’s M&A wave, particularly among Bermudian firms, Fitch Ratings said. “Alternative sources of capital push the sector’s capitalization levels higher and... Read more of this article

RenRe Receives Regulatory Approvals For Deal

RenRe Receives Regulatory Approvals For Deal

RenaissanceRe Holdings Ltd. announced that it has received all regulatory approvals required in connection with its previously announced acquisition of Platinum Underwriters Holdings, Ltd. “The transaction remains subject to approval by the shareholders of Platinum at Platinum’s previously announced shareholder meeting scheduled to be held... Read more of this article

Knightsbridge Plan To Hold Meeting On Merger

Knightsbridge Plan To Hold Meeting On Merger

Bermuda based Knightsbridge Shipping Limited announced on Tuesday [Feb 10] that its Special General Meeting of Shareholders to approve its previously announced merger with Golden Ocean Group Limited is scheduled to be held at Knightsbridge’s offices located at Par-la-Ville Place in Hamilton on Thursday, March 26, 2015, at 9:30am. Knightsbridge... Read more of this article

Platinum Underwriters Declares Special Dividend

Platinum Underwriters Declares Special Dividend

Platinum Underwriters Holdings, announced today [Feb 10] that its Board of Directors has, subject to certain conditions, declared a quarterly dividend of $0.08 per common share. The quarterly dividend would be payable on March 31, 2015 to shareholders of record on March 2, 2015. The quarterly dividend is conditioned on Platinum’s previously announced... Read more of this article

Enstar To Acquire Belgian Insurance Company

Enstar To Acquire Belgian Insurance Company

Bermuda-based Enstar Group Limited announced that today it has entered into a definitive agreement with Nationale Suisse to acquire its subsidiary, Nationale Suisse Assurance S.A. [NAB]. NAB is a Belgium-based insurance company writing non-life specialty insurance and life insurance. As part of the transaction, Enstar subsidiary Torus Insurance Holdings... Read more of this article

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


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