London-based Benfield Greig Group plc and E.W. Blanch Holdings Inc. of Dallas, have agreed on merger terms. Benfield offered to purchase the outstanding shares of EWB for $13.50 a share, valuing the transaction at around $179 million. When completed, the …
Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall, and WTC loss estimates rose slightly to £1.98 …
On April 16, London-based Benfield Greig Group plc and E.W. Blanch Holdings Inc. of Dallas announced an agreement on merger terms. Benfield offered to purchase the outstanding shares of EWB for $13.50 a share, valuing the transaction at around $179 …
No one has ever accused American International Group (AIG) CEO, Maurice “Hank” Greenberg, of thinking small or being timid. He reinforced his reputation April 3 with a letter to American General CEO Robert Devlin that began “Dear Bob,” and went …
No one has ever accused American International Group’s (AIG) legendary CEO, Maurice “Hank” Greenberg, of thinking small or being timid. He reinforced his reputation on April 3 with a letter to American General CEO Robert Devlin, which outlined a $23-billion …
After a week of intensive negotiations, Allianz AG and Dresdner Bank, Germany’s third largest, announced on April 1 that they have agreed to join forces to create Germany’s biggest financial institution. With capitalization of $87.55 billion, it would be roughly …
HIH Insurance Ltd., following in the footsteps of ReAC and GIO, became the latest Australian insurance company to be forced to the wall by mounting losses. Rumored to be in deep trouble for the last six months, the company, at …
Last January, Prudential plc Chief Executive Jonathan Bloomer indicated he was still looking for opportunities in the U.S. The search culminated March 12 in Houston, Texas, with the announcement that Britain’s venerable “Pru” (no connection to America’s Prudential Insurance Co.) …
Last January Prudential plc Chief Executive Jonathan Bloomer indicated he was still looking for opportunities in the U.S. The search culminated March 12 in Houston with the announcement that Britain’s venerable “Pru”—which has no connection with America’s Prudential Insurance Co.—would …
The long-awaited hardening of reinsurance rates may finally be occurring, as companies reassess their capacity commitments and take a more critical look at their risk exposures, particularly concerning natural catastrophes. “Where there’s loss activity, you’ll certainly see rate raises,” said …
