Hashtag: #BusinessMergers

Monument Re Complete Acquisition From Zurich

Monument Re Complete Acquisition From Zurich

Monument Re announced today that its Isle of Man subsidiary Monument International Life Assurance Company Limited [MILAC] has completed the acquisition of the closed book portfolio of Zurich International Life Limited’s [ZILL] Singapore long term life insurance business. A spokesperson said, “The ZILL Singapore branch portfolio and employees... Read more of this article

Somers Announce Shareholders Approve Merger

Somers Announce Shareholders Approve Merger

In a filing with the Bermuda Stock Exchange [BSX], Somers Limited announced the “shareholder approval of merger with SNB Investments.” The full filing stated: “Somers Limited, a financial services investment holding company, announces that its Board of Directors has declared a dividend of $4.55 per share to be payable to shareholders of... Read more of this article

Somers Shareholder Approve Merger With SNB

Somers Shareholder Approve Merger With SNB

In a filing with the Bermuda Stock Exchange [BSX], Somers Limited announced that their shareholders “voted overwhelmingly” to approve the merger with SNB Investments Limited [SNB]. The full filing stated: “Somers Limited, a financial services investment holding company, is pleased to announce that further to the Company’s announcement... Read more of this article

Apex Announces Acquisition Of Context365

Apex Announces Acquisition Of Context365

Apex Group Ltd. announced it has acquired the technology platform and conference business of Context365, “an established global provider of technology and events that connects alternative asset class investors with high quality asset managers.” A spokesperson said, “Context365 connects LPs and GPs through its software as a service [SaaS]... Read more of this article

CG Completes Acquisition Of Massy United

CG Completes Acquisition Of Massy United

Bermuda-based Coralisle Group [CG] has acquired a 100% interest in Massy United Insurance Ltd. of Barbados [United]. A spokesperson said, “United now operates within the Coralisle Group as CG United Insurance Ltd. [CG United]. The acquisition significantly expands CG’s presence across the Caribbean, adding 14 new markets where CG United operates. “These... Read more of this article

TBi Acquires WoW’s ‘Business & Certain Assets’

TBi Acquires WoW’s ‘Business & Certain Assets’

TBi has ”acquired the business and certain assets” of WoW, with TBi saying they “have an exciting vision to take the company to new heights.” A spokesperson said, “TeleBermuda International Limited [TBi] today announced that it acquired the business and certain assets of World on Wireless Limited [WoW], acting by its Joint... Read more of this article

FoodHub Acquires Interest In Four Star

FoodHub Acquires Interest In Four Star

“An investment team behind FoodHub acquired an interest in Four Star,” the company confirmed, noting that “the operations and food production related to Four Star will remain the same. ” A spokesperson said, “Four Star has been in business since 1990 serving pizzas and more from four locations across the island. For over 30... Read more of this article

Mosaic To Acquire SiriusPoint Managing Agency

Mosaic To Acquire SiriusPoint Managing Agency

Mosaic Insurance has entered into an agreement to purchase the Lloyd’s managing agency of SiriusPoint as part of a transaction in which the global re/insurer will become a strategic investor in Mosaic. Mosaic Co-CEO Mitch Blaser said, “We’re excited about this opportunity to expand our presence at Lloyd’s and we’re proud of the phenomenal... Read more of this article

Apex Group Enters NZ With Acquisition Of MMC

Apex Group Enters NZ With Acquisition Of MMC

Apex Group Ltd. announced the proposed acquisition of MMC, New Zealand’s leading provider of investment administration services. A spokesperson said, “The transaction is subject to customary conditions [including regulatory approvals expected to be granted in early 2022]. “MMC has provided full outsourced investment administration services... Read more of this article

Fortitude Re Completes Acquisition From AIG

Fortitude Re Completes Acquisition From AIG

Fortitude Group Holdings announced the acquisition of Fortitude Life & Annuity Solutions and Fortitude P&C Solutions from AIG. A spokesperson said, “Fortitude Group Holdings, LLC, the parent company of Bermuda’s largest multi-line reinsurer [Fortitude Re], announced today the acquisition of Fortitude Life & Annuity Solutions, Inc. [FLAS],... Read more of this article

Monument Re Complete Acquisition From Athora

Monument Re Complete Acquisition From Athora

Monument Re’s Irish subsidiary Monument Life Insurance DAC has completed the acquisition of a closed-block portfolio of variable annuities from Athora Ireland plc. A spokesperson said, “Monument Re announced today that its Irish subsidiary Monument Life Insurance DAC has completed the acquisition of a closed-block portfolio of variable annuities... Read more of this article

EXOR & Covéa Sign MoU for $9bn Sale

EXOR & Covéa Sign MoU for $9bn Sale

Exor and Covéa have signed a Memorandum of Understanding under which “Covéa would, following the completion of a required consultation with works councils, enter into a definitive agreement to acquire PartnerRe.” A statement from Exor said, “Covéa, a leading French mutual insurer and Exor, the leading diversified holding company... Read more of this article

Algonquin To Acquire Kentucky Power Company

Algonquin To Acquire Kentucky Power Company

Algonquin— which owns BELCO – announced that Liberty Utilities Co, an indirect subsidiary of Algonquin, has entered into an agreement to acquire Kentucky Power Company for approximately $2.846 billion. A spokesperson said, “lgonquin Power & Utilities Corp. [AQN] today announced that Liberty Utilities Co., an indirect subsidiary of AQN,... Read more of this article