M&A

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.

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

Heritage Insurance Holdings is to buy Rhode Island-based insurer Narragansett Bay Insurance for $250mn to create a leading "super-regional" personal lines carrier.

Novae reported continued growth in its property division in the first half of 2017 due to its fronting arrangement with Securis Investment Partners

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

Markel executives said the firm's acquisition of fronting carrier State National will help it develop more products for managing third party capital

State National, one of Nephila Capital's insurance fronting partners, has agreed a $919mn sale to Markel, the companies announced today.

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

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.

Bermuda-based Axis Capital has bought Lloyd's insurer Novae for $604mn

Homeowners' carrier United Insurance Holdings (UIH) and American Coastal have joined forces to create the third largest player in the Florida residential property market

Canada's largest P&C carrier Intact Financial is set to acquire OneBeacon from White Mountains in a $1.7bn deal