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Novae is to adopt the Axis brand and will be merged into the company's international insurance business following the completion of its £477.6mn ($631.1mn) takeover deal.
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Sompo Canopius is to change ownership through a $952mn management buyout (MBO), the company has confirmed
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Axis has boosted its cash bid for Lloyd's insurer Novae by 2.1 percent to 715 pence per share, in a move that Axis CEO Albert Benchimol said the aim of the improved offer was to "bring certainty" to the transaction.
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Australian insurer Suncorp's Vero subsidiary has appealed the decision by the New Zealand regulator to prevent its NZ$236.1mn ($172.3mn) takeover of Tower.
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Heritage Insurance Holdings announced yesterday that it was seeking to raise $125mn of debt from a private offering to help finance its $250mn acquisition of Rhode Island-based insurer Narragansett Bay
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Heritage Insurance Holdings is to buy Rhode Island-based insurer Narragansett Bay Insurance for $250mn to create a leading "super-regional" personal lines carrier.
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Novae reported continued growth in its property division in the first half of 2017 due to its fronting arrangement with Securis Investment Partners
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Axis Re lifted the amount of reinsurance premium it ceded to third party capital partners in Q2 by more than a third year-on-year
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Markel executives said the firm's acquisition of fronting carrier State National will help it develop more products for managing third party capital
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State National, one of Nephila Capital's insurance fronting partners, has agreed a $919mn sale to Markel, the companies announced today.
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Axis Capital CEO Albert Benchimol said the carrier could look to share more property cat risk with third-party capital providers after its $604mn acquisition of Lloyd's insurer Novae
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Axis Capital CEO Albert Benchimol said the carrier could look to share more property cat risk with third-party capital providers after its $604mn acquisition of Lloyd's insurer Novae.