Bermuda-based Endurance Specialty Holdings Ltd. and Montpelier Re Holdings Ltd. announced a merger today, in which Endurance will acquire Montpelier in a stock-cash deal for roughly $1.8 billion. Specifically, the deal consideration consists of 0.472 shares of Endurance and $9.89 …
Boston-headquartered Liberty Mutual said it is moving to a centralized service model for its personal insurance customers beginning in January 2016. This move involves transitioning local service activities into customer service call centers, and expanding those centralized operations, currently at …
It was almost midnight when Walter Price eased his 18-wheeler into the right lane on Interstate 75 near Atlanta. As he began to bank onto the exit ramp he’d been taking for the past 10 years, Price had no idea …
A.M. Best said the total insurance loss of Germanwings Flight 4U9525, which crashed in the French Alps on March 24, 2015 killing 150 people, may put further pressure on the beleaguered aviation war sector. The total insurance loss for the …
When it comes to finding earnings growth in 2015, the challenge facing the global insurance industry will be uneven economic conditions in many parts of the world, according to a report released by Standard & Poor’s Ratings Services. Entitled “Pursuing …
Canada’s Fairfax Financial Holdings has sold half of its 5.8 percent stake in Bank of Ireland for more than triple what it paid for it in 2011, a source with knowledge of the deal said, pushing the share price down …
In the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial results of 31 major reinsurers in 2014, Aon Benfield confirmed earlier estimâtes that global reinsurer capital rose by 6 percent to $575 billion in 2014, …
ACE Group has created a new business unit – ACE International Excess (AIE)– to provide commercial property insurance on an excess basis for large companies in the Asia Pacific region. The new business unit will be modeled after ACE Bermuda …
Germany’s Allianz has estimated insurers will pay $300 million in claims and costs stemming from the crash of a Germanwings plane in the French Alps last week, insurance industry sources said on Monday. The figure gives a preliminary orientation to …
American International Group Inc. Chief Executive Officer Peter Hancock, who took over the top job in September, said he plans to sell more businesses that don’t align with the insurer’s biggest moneymakers. “Floating or selling businesses that lack current or …
