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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. -
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.
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Markel Catco announced that its proposed buyout of investors will be delayed until the first quarter, as a Bermuda court adjourned hearings on the scheme into early December.
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However, the deal is low-to-mid ranking in terms of book multiple.
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The two parties had previously negotiated a $9bn deal for the reinsurer last year, which was later scrapped.
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The speciality insurer is also providing multi-year capacity and paper to the climate risk shop.
