M&A

Private equity firm Stone Point Capital is backing the bid by the founding family of AmTrust to buy out the company's other shareholders and take the beleaguered company private in a $1.37bn transaction.

Legacy manager Armour has confirmed that an investor group led by Aquiline Capital Partners has raised $500mn to finance a takeover of the firm, following earlier reports of the deal.

Run-off specialist Armour has been bought by private equity house Aquiline, sister publication The Insurance Insider has reported

Leadenhall-backed Gryphon Group Holdings is to take on the Guardian brand name for its start-up which plans to take a technology-focused approach to providing life insurance products

Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ) will invest $400mn in Hyperion to take a significant minority stake in the firm, in its second major insurance broking investment of the year.

Florida insurer Federated National has agreed to buy out joint venture partner Crosswinds' stake in Monarch Delaware, the parent of Monarch Insurance.

Chandler CEO Steven Butler and senior administrator Beverly Hodkin are to join Artex Risk Solutions' existing captive and insurance management team in the Cayman Islands following Artex's acquisition of the company

Hurricane Maria is expected to cost Lloyd's insurers $900mn, the corporation said today as it revised down its combined loss estimate for hurricanes Harvey and Irma.

The Hartford has agreed to acquire Aetna's US group life and disability business in a $1.45bn deal that it said would make it the second largest group life and disability insurer in the US market with approximately $5bn in expected earned premium.

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.

Sompo Canopius is to change ownership through a $952mn management buyout (MBO), the company has confirmed

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.