Hashtag: #BusinessMergers

Fortitude Re Acquires PALAC From Prudential

Fortitude Re Acquires PALAC From Prudential

Prudential Financial, Inc. and Fortitude Group Holdings, LLC have announced that they have entered into a “definitive agreement under which Prudential will sell a portion of its in-force legacy variable annuity block to Fortitude Re for a total transaction value of $2.2 billion.” A spokesperson said, “Prudential Financial, Inc. [Prudential]... Read more of this article

Coralisle Group Ltd To Acquire Massy United

Coralisle Group Ltd To Acquire Massy United

Coralisle Group Ltd. announced today [Sept 7] that it has signed an agreement to acquire 100% interest in Massy United Insurance Ltd. [United] of Barbados. The transaction, which is subject to regulatory approval in relevant jurisdictions, is expected to close as soon as requisite approvals are obtained. “The acquisition of United will significantly... Read more of this article

Arch Capital Closes Acquisition Of Westpac

Arch Capital Closes Acquisition Of Westpac

Arch Capital Group Ltd. announced the completion of the previously disclosed acquisition of Westpac Lenders Mortgage Insurance Limited [WLMI]. A spokesperson said, “Arch Capital Group Ltd. announced the completion of the previously disclosed acquisition of Westpac Lenders Mortgage Insurance Limited [WLMI], an Australian Prudential Regulation Authority... Read more of this article

Arch Closes Acquisition Of Somerset Bridge

Arch Closes Acquisition Of Somerset Bridge

Arch Reinsurance Ltd., a subsidiary of Arch Capital Group Ltd., announced the completion of the previously disclosed acquisition of Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates. Arch Re originally announced its plan to acquire Somerset on June 23, 2021. “We are pleased to complete this transaction,” said William Soares,... Read more of this article

Athene To Acquire Foundation Home Loans

Athene To Acquire Foundation Home Loans

Athene Holding Ltd has entered into a definitive agreement to acquire Foundation Home Loans, a specialist UK mortgage lender from funds managed by affiliates of Fortress Investment Group LLC. A spokesperson said, “Athene Holding Ltd. [Athene], an industry-leading financial services company focused on retirement savings solutions, today announced... Read more of this article

Arch Capital Closes Acquisition Of Watford

Arch Capital Closes Acquisition Of Watford

Arch Capital Group Ltd. along with investment partners Kelso & Company and Warburg Pincus, announced the completion of the previously disclosed acquisition of Watford Holdings Ltd. The company said, “Watford and Arch originally announced the signing of a definitive merger agreement on Nov. 2, 2020, through an affiliated entity of which Arch... Read more of this article

Monument Assurance To Acquire AMELL

Monument Assurance To Acquire AMELL

Monument Re announced today subject to necessary regulatory approval, Monument Assurance Luxembourg will acquire AME Life Luxembourg [AMELL] from French Mutual Insurance Group Covéa. A spokesperson said, “AMELL is a well-established Luxembourg-based life insurance company with market presence in Luxembourg, Belgium and Italy. Financial terms... Read more of this article

Video: SiriusPoint Rings Opening Bell Of NYSE

Video: SiriusPoint Rings Opening Bell Of NYSE

Sid Sankaran, Chief Executive Officer and Chairman of SiriusPoint, rang the Opening Bell of the New York Stock Exchange on Tuesday March 16, to celebrate the formation of the company and its listing under the NYSE ticker symbol SPNT. The Bermuda-headquartered company was formed from the merger between Third Point Reinsurance Ltd. and Sirius International... Read more of this article

Arch Capital Enters Agreement With Westpac

Arch Capital Enters Agreement With Westpac

Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group to acquire Westpac Lenders Mortgage Insurance Limited [WLMI]. A spokesperson said, “The Global Mortgage Group of Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group [Westpac] to acquire Westpac Lenders Mortgage Insurance... Read more of this article

Apollo, Athene To Merge In All-Stock Transaction

Apollo, Athene To Merge In All-Stock Transaction

Apollo and Athene have entered into an agreement to merge in an all-stock transaction that “implies a total equity value of approximately $11 billion for Athene,” it has been announced. A statement from Apollo said, “Under the terms of the transaction, each outstanding Class A common share of Athene will be exchanged for a fixed ratio... Read more of this article

DARAG Announces Acquisition Of SunPoint

DARAG Announces Acquisition Of SunPoint

DARAG announced the acquisition of SunPoint Holdings Limited in Bermuda and said that “SunPoint will be integrated into DARAG Bermuda Ltd and will provide DARAG Bermuda with a platform for further expansion.” “This is DARAG’s first company acquisition in Bermuda since the launch of its Bermuda operation in 2019 and provides the seller... Read more of this article

Monument Re & Athora Ireland Transaction

Monument Re & Athora Ireland Transaction

Monument Re announced today that, subject to necessary Irish High Court and regulatory approvals, it has agreed to acquire the closed-block portfolio of variable annuities from Athora Ireland plc, a wholly-owned subsidiary of Athora Holding Ltd. Financial terms of the transaction were not disclosed. “We are pleased to have reached agreement with Athora... Read more of this article

Apex Group Closes Acquisition Of GFin

Apex Group Closes Acquisition Of GFin

Apex Group Ltd. announced the final close of the acquisition of GFin Corporate Services Ltd. following regulatory approval from the Financial Services Commission. “GFin is a Mauritius based and licensed Management Company, providing fund administration services to institutional clients. Its integration into the Group enhances Apex’s long-established... Read more of this article