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The firm has been in run-off since late 2020, and another former Credit Suisse affiliate was recently sold to legacy writer Marco. -
Nephila will maintain a minority holding in the MGA, which is looking for paper from more reinsurers and ILS firms.
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The deal follows a similar transaction on northeast business in January.
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The reincarnated $9bn deal is moving a step closer to completion.
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The target firm deals in engineering, energy, P&C and specie.
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The investor agreed to buy Ascot in 2016 and Wilton in 2014.
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The deal was struck in the wake of the collapse of Aon and Willis Towers Watson’s merger.
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As part of the deal, Heritage will transfer ownership of carrier Pawtucket and MGA First Access, as well as claims and underwriting data.
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As a result of the deal, EY, through its wholly owned subsidiary Shackleton, becomes a minority shareholder in IncubEx.
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The Bermudian fund bought £280,000 of shares in the Lloyd’s investment platform.
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The watchdog had been due to announce a decision on a further inquiry by 29 November.
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Fairfax has entered into an agreement with the Canada Pension Plan Investment Board (CPPIB) and the Ontario Municipal Employees Retirement System (Omers), where each of them will acquire a 4.995% stake in Odyssey Group for an aggregate cash consideration of $900mn.
