Hashtag: #ArielHoldings
Arch Buys Ariel’s Credit & Surety Business
Bermuda’s Arch Capital Group Ltd. today [Mar.3] announced that it will acquire Ariel Re’s Credit & Surety reinsurance operations based in Zurich. Upon the closing of the transaction, Ariel Re’s Zurich based team will transfer to the Zurich office of Arch Reinsurance Europe Underwriting Limited and will be fully operational with... Read more of this article
A.M. Best Affirms Ariel’s Ratings
A.M. Best Co. yesterday [Mar.1] affirmed the financial strength rating of A- [Excellent] and issuer credit rating [ICR] of “a-” of Bermuda’s Ariel Reinsurance Company Ltd. Additionally, A.M. Best has affirmed the ICR of “bbb-” of the parent company, Bermuda-domiciled Ariel Holdings, Ltd. The outlook for all ratings is stable. The ratings... Read more of this article
Goldman Sachs Buys Ariel Re
Ariel Holdings Ltd. today [Mar.1] confirmed reports that investment bank Goldman Sachs is acquiring its Bermuda-based insurance and reinsurance operations, which it will combine with its existing business underwritten through Lloyd’s Syndicate 1910. The acquired business will operate as part of Goldman Sachs Reinsurance Group [GSRG], under the... Read more of this article
Ariel To ‘Sell Reinsurance Operations’
Global investment banking and securities firm Goldman Sachs is poised to acquire the Bermuda-based re/insurance operations of Ariel Holdings through its insurance subsidiary Arrow, industry journal “The Insurance Insider” reports today [Feb.29]. The imminent deal will leave Ariel Holdings with its Lloyd’s operation Atrium and its Zurich-based... Read more of this article
BFIS Hosts Intern Programme Reception
The Bermuda Foundation for Insurance Studies [BFIS] in conjunction with Associate Director of the Katie School of Insurance and Financial Services at Illinois State University [ISU] Debbie Babcock last night [Nov. 29] held a cocktail reception to thank all the people and companies who hosted the BFIS/ISU Intro-To-Insurance Summer Interns Programme.... Read more of this article
Ariel: $35-$50 Million in Q1 Catastrophes
Bermuda based Ariel Reinsurance Company, the reinsurance subsidiary of Ariel Holdings Ltd,. today [Mar.31] announced its initial estimate of losses incurred from catastrophe events in the first quarter of 2011, including the Christchurch earthquake, Cyclone Yasi, Australian flooding, Gryphon Alpha and the Tohoku Earthquake in Japan. A spokesperson... Read more of this article
Report: Validus and Ariel End Merger Talks
Bermuda based re/insurers Validus Holdings Ltd. and Ariel Reinsurance Co. ended merger talks this month after disasters in Japan roiled insurance markets, Bloomberg reported today [Mar.29] The report said, “Validus had been close to an almost $1 billion stock-and- cash deal for Ariel, owned by private-equity firms including Blackstone Group LP... Read more of this article
Ariel Re To Open Office in Brazil
Bermuda-based Ariel Reinsurance Company Ltd. will be opening of a representative office in Rio de Janeiro, Brazil following its approval as an admitted reinsurer by the Brazilian insurance regulator, Superintendência de Seguros Privados (SUSEP). Ariel Re said its initial focus in Brazil will be on Surety and Trade Credit reinsurance, underwritten... Read more of this article
Ariel To Sell Valiant For $55 Million
Bermuda reinsurer Ariel Holdings Ltd. plans to sell Valiant Insurance Group Inc to First Mercury Financial Corp. for about $55 million. First Mercury will purchase Valiant for an amount equal to Valiant’s tangible book value, which is anticipated to be approximately $55 million at closing. The Company will use cash from its insurance subsidiaries... Read more of this article
New Ariel Reinsurance CEO: Tom Hulst
Bermuda-based insurance and reinsurance company Ariel Reinsurance Company Ltd [a subsidiary of Ariel Holdings] announced yesterday [Apr 22] the appointment of Tom Hulst as Chief Executive Officer. Mr. Hulst has been with the Company since shortly after its formation in December 2005, serving initially as Senior Vice President and, since mid 2008, as... Read more of this article
