Hashtag: #BusinessMergers

AXA To Acquire XL Group For $15.3 Billion

AXA To Acquire XL Group For $15.3 Billion

[Updated] AXA announced today that it has entered into an agreement to acquire 100% of XL Group Ltd, with the French company confirming that the total consideration for the acquisition amounts to $15.3 billion. Shareholders in XL will receive $57.60 a share, which represents a 33% premium to the company’s closing price on March 2, AXA said. AXA... Read more of this article

Assured Acquires Minority Interest In Rubicon

Assured Acquires Minority Interest In Rubicon

Bermuda-based Assured Guaranty Ltd., announced that its subsidiary Assured Guaranty US Holdings Inc. [AGUS] acquired a minority interest in Cadia [Malta] Limited [CML], the holding company of Rubicon Infrastructure Advisors [Rubicon]. Rubicon is a full-service investment banking firm active in the global infrastructure sector. Rubicon has advised on... Read more of this article

Butterfield To Acquire Deutsche Bank’s Business

Butterfield To Acquire Deutsche Bank’s Business

The Bank of Butterfield today announced that it has entered into an agreement to acquire Deutsche Bank’s banking and custody business in the Cayman Islands, Jersey and Guernsey. The filing stated, “The Bank of N.T. Butterfield & Son Limited today announced that it has entered into an agreement to acquire Deutsche Bank’s banking and custody... Read more of this article

Fitch: Speculation Of More Re/Insurer M&A

Fitch: Speculation Of More Re/Insurer M&A

The combination of continued competitive pressures, the effects of U.S. tax reform and catastrophe losses in 2017 is leading to speculation of more M&A among re/insurers in 2018, especially in the Bermuda market, says Fitch Ratings. According to Fitch, “Increasing scale and diversification resulting from mergers could increase the resilience... Read more of this article

Enstar To Acquire Full Ownership Of KaylaRe

Enstar To Acquire Full Ownership Of KaylaRe

Enstar Group has signed an agreement to acquire a further 52% stake in KaylaRe Holdings Ltd., the parent company of KaylaRe Ltd., a Bermuda-based, Class 4 reinsurer. Added to its existing 48% equity holding, the acquisition will give Enstar full ownership of KaylaRe. Enstar founded KaylaRe in 2016 alongside funds managed by Hillhouse Capital Management,... Read more of this article

Armour Group Announces Acquisition Of EIC

Armour Group Announces Acquisition Of EIC

Bermuda-based Armour Group announced the completion by a group of investors led by Armour of the acquisition of Elite Insurance Company Ltd [EIC] and its affiliate Elite Business Development Ltd [EBD]. “As part of the change of control of Elite, an Armour affiliate – Armour Risk Management Limited is taking operational management of Elite... Read more of this article

AIG To Acquire Validus For $5.56 Billion In Cash

AIG To Acquire Validus For $5.56 Billion In Cash

[Updated] American International Group will acquire all outstanding common shares of Validus Holdings, with the company saying that “holders of Validus common shares will receive cash consideration of $68.00 per share, for an aggregate transaction value of $5.56 billion, funded by cash on hand.” “Validus is an excellent strategic fit for... Read more of this article

East End Group & Celeritas Acquire TBi

East End Group & Celeritas Acquire TBi

The East End Group [EEG] today [Dec 29] announced that it has partnered with Celeritas Limited to acquire TeleBermuda International Limited [TBi], a Bermuda based provider of high-quality voice, internet and managed IT services. “Bermudian-owned EEG is the proprietor of East End Telecom [EET], the leading public safety and wireless communication... Read more of this article

East End Group & Decisions To Join Forces

East End Group & Decisions To Join Forces

East End Group [EEG] and Decisions Limited today announced a merger between their organizations, saying there “are great synergies between the two organizations teams and services,” with the company also noting that there will be no redundancies in either company due to the merger. EEG is the proprietor of East End Telecom [EET], the leading... Read more of this article

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