Hashtag: #BusinessMergers
Presidential Life & Athene Complete Merger
Presidential Life Corporation, a Delaware corporation headquartered in Nyack, NY, and Athene Holding Ltd., a Bermuda-based holding company, confirmed the completion of the acquisition of Presidential Life by Athene Holding’s wholly owned subsidiary, Athene Annuity & Life Assurance Company, a Delaware-domiciled insurer focused on retail fixed... Read more of this article
Markel To Acquire Alterra For Approx. $3.13B
Bermuda-based Alterra Capital Holdings Limited will be acquired by Markel Corporation, in a deal worth approximately $3.13 billion. Alterra CEO Marston Becker is expected to leave the company following the close of the transaction. Under the terms of the agreement, the aggregate consideration for Alterra is approximately $3.13 billion, based on a... Read more of this article
Nordic American Tankers Acquires Scandic
Bermuda-incorporated Nordic American Tankers Ltd. announced today [Dec.17] the company will acquire Scandic American Shipping Ltd. Nordic American Tankers Limited [NAT] was incorporated in Bermuda in 1995 Following an agreement between Scandic and NAT, NAT has announced that it will acquire 100 per cent of the shares of Scandic, its management company... Read more of this article
Validus Completes Acquisition Of Flagstone Re
Bermuda-based Validus Holdings, Ltd. has completed its acquisition of Flagstone Reinsurance Holdings, S.A. Ed Noonan, Validus’ Chairman and Chief Executive Officer, stated, “The acquisition of Flagstone solidifies our position as one of the largest catastrophe reinsurance underwriters in the world, with a $4 billion shareholder’s equity base.... Read more of this article
Flagstone Shareholders Approve Acquisition
Validus Holdings, Ltd. today announced that, earlier today [Nov 28], at an Extraordinary General Meeting of Shareholders, the shareholders of Flagstone Reinsurance Holdings, S.A. approved all matters required to be approved by Flagstone’s shareholders in order for Validus to acquire Flagstone, with the support of more than 99% of the shares voted... Read more of this article
ACE Ltd. To Acquire Fianzas Monterrey In Mexico
Bermuda-based ACE Limited announced today [Sept 12] that it has reached a definitive agreement to acquire Fianzas Monterrey in Mexico from New York Life Insurance Company for approximately $285 million in cash. Established in 1943 and headquartered in Mexico City, Fianzas Monterrey is Mexico’s second-largest surety lines company and the third largest... Read more of this article
Validus Holdings to Acquire Flagstone Re
Bermuda-based Validus Holdings, Ltd.and Flagstone Reinsurance Holdings, S.A. confirmed today [Aug 30] that the boards of directors of both Validus and Flagstone have approved a definitive merger agreement pursuant to which Validus will acquire all of the issued and outstanding shares of Flagstone. Under the terms of the agreement, Flagstone shareholders... Read more of this article
Athene Subsidiary To Acquire Presidential Life
Presidential Life Corporation, a Delaware corporation headquartered in Nyack, NY, and Athene Holding Ltd, a Bermuda-based holding company, today [July 13] announced a definitive agreement for an Athene subsidiary to acquire Presidential Life for $14.00 per share in cash, representing an aggregate purchase price of approximately $415 million. The $14.00... Read more of this article
CNA Financial Completes Acquisition Of Hardy
CNA Financial Corporation and Hardy Underwriting Bermuda Limited announced today [July 2] the successful completion of CNA Financial’s acquisition of Hardy. CNA Financial paid approximately $230 million to purchase Hardy. As a wholly owned, indirect subsidiary of CNA Financial, Hardy will continue to operate under its own brand and its existing... Read more of this article
inVenture Acquires Majority Interest In Air Care
inVenture Limited, a wholly owned subsidiary of Ascendant Group Limited, has acquired controlling interest of Bermuda company, Air Care Limited. The acquisition of Air Care is funded by debt to be re-paid by cash flow from Air Care Limited’s operations. inVenture initially purchased a majority of Air Care shares, with an agreement for the remainder... Read more of this article
Omega Confirms New Offer From Canopius
Bermuda’s Omega Insurance Holdings Ltd. today [Apr. 3] confirmed it has received a takeover approach from privately-owned Canopius Group Ltd. for 65 pence per share in cash, which is lower than its initial offer of 83 pence per share made last September. Omega Insurance also confirmed that its issued share capital as at the close of business on... Read more of this article
BF&M Announces Acquisition of Island Heritage
BF&M Limited announced that it had reached an agreement to acquire Island Heritage Holdings Ltd. and its subsidiaries, including Island Heritage Insurance Company Ltd. This transaction is subject to the approval of Regulators. Island Heritage is a specialty property and casualty insurer, headquartered in Cayman with insurance operations in several... Read more of this article
