Hashtag: #HardyUnderwritingBermudaLimited
CNA To Buy Hardy Underwriting For $227 Million
CNA Financial Corporation have entered into an agreement to buy Hardy Underwriting Bermuda for $227 million. Commenting on the Acquisition, Thomas F. Motamed, Chairman and Chief Executive of CNA said: “We are delighted to have reached this agreement. Hardy is a specialist insurer and reinsurer with a respected brand and a long and distinguished... Read more of this article
Hardy Underwriting Sinks To 2011 Loss
Hardy Underwriting Bermuda is dropping its final dividend after posting pre-tax losses of £42.1 million for the year to the end of December, the firm announced today [Mar. 1]. The board concluded a final payout would not be appropriate in the light of the impact of the catastrophe losses on the group’s financial resources and of the ongoing strategic... Read more of this article
Hardy ‘Could Attract Other Bidders’
Lloyd’s of London insurer Beazley PLC said its takeover interest in smaller rival Hardy Underwriting Bermuda Ltd. would likely trigger competing bids as insurers face continued pressure to merge because of weak prices and tighter capital requirements. Beazley, which abandoned a $284.7 million offer for Hardy in 2010, today [Feb.7] also reported... Read more of this article
Fitch: Hardy Could Begin M&A Wave
Analysts at ratings agency Fitch say UK insurer Beazley’s renewed interest in buying Hardy Underwriting Bermuda underlines expectation for increased mergers and acquisitions in the non-life insurance sector in 2012, driven by low valuations and the impact of the European Union’s new Solvency II regime. Fitch said those insurers that are... Read more of this article
Hardy Attracts Beazley’s Interest
Shares in specialist insurer Hardy Underwriting Bermuda were lifted in morning trade on the London Stock Exchange this morning [Dec. 21] by the announcement from British insurer Beazley that it is interested in starting exploratory talks to acquire the firm. Beazley said in a statement this does not represent a firm intention to make an offer and there... Read more of this article
Hardy Underwriting’s Strategic Review
Hardy Underwriting Bermuda is carrying out a strategic review following the size of catastrophe events this year and after receiving several preliminary expressions of interest in its business. The Bermuda-based specialist insurer and reinsurer said the review would consider whether shareholder value might best be maximised and business opportunity... Read more of this article
Hardy Reports Growth In Key Market Sectors
Bermuda-based insurer Hardy Underwriting’s gross written premiums increased by 8.5 percent in the first nine months of the year. Hardy said today [Nov. 14] this was primarily due to growth in its key market sectors, notwithstanding the decision to discontinue certain underperforming lines of business. It said the rating outlook for property lines... Read more of this article
Hardy Bermuda: ‘Hugely Challenging Times’
Hardy Underwriting Bermuda Limited, the specialist insurer and reinsurer, today [Mar. 3] announced its pre-tax profits fell to £10 million in 2010 (2009: £20.1 million), following an “unprecedented level of international natural catastrophes”. The specialist insurer and reinsurer recorded gross written premium of £279.4 million, up from £242... Read more of this article
