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Ace has agreed to buy rival US insurance carrier Chubb in a cash-and-stock $28.3bn deal, the companies announced today (1 July).
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Consultancy Towers Watson and broker Willis Group have announced they are to combine in an all-stock merger transaction to form a new entity called Willis Towers Watson.
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Retro market leader Catco Investment Manager could secure a valuation of around $300mn when the business is sold, according to analysis from Trading Risk
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A combined Axis-PartnerRe hopes to earn an additional $60mn a year by 2017 from managing third-party capital.
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A combined Axis-PartnerRe hopes to earn an additional $60mn a year by 2017 from managing third-party capital, according to a presentation released by Axis today (1 June)
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PartnerRe is now proceeding to shareholder approval of its pending merger with Axis after rival bidder Exor confirmed yesterday (21 May) that it would not increase its $137.50-a-share takeover offer.
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The holding company for MultiStrat Re, a platform set up to help hedge funds tap into the reinsurance space, has acquired Maryland-based Annapolis Consulting Group (ACG) for an undisclosed amount.
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Exor has said it would not raise its $137.50 a share takeover offer for PartnerRe and that the board should allow shareholders to decide on the competing proposals for the reinsurer.
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The board of PartnerRe has agreed to engage with Italian investment vehicle Exor over its latest $137.50 per share takeover proposal, but remained adamant that the offer wasn't enough to secure a deal.
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Italian investment company Exor has increased its bid for PartnerRe from $130 to $137.50 per share and acquired a 9 percent stake to become the reinsurer's largest shareholder.
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Italian investment vehicle Exor has increased its bid for PartnerRe from $130 to $137.50 per share and acquired enough shares in the reinsurer to become its largest shareholder.
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PartnerRe has said that it will retrocede $36mn of agricultural premiums to its Lorenz Re sidecar in the April renewals, according to its first quarter earnings call.