Hashtag: #BusinessMergers
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 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
“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 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 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 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’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 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— 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
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. 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 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 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 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 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 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
