Brit plc Chief Executive Officer Mark Cloutier said an excess of insurance industry capital will force more executives to sell or merge their companies. Cloutier said Brit’s planned $1.88 billion sale to Prem Watsa’s Fairfax Financial Holdings Ltd., which was …
Lloyd’s of London insurers Lancashire Holdings plc and Novae Group plc may be the next in line for takeover offers after Brit plc became the second U.K. firm within weeks to be acquired. Lancashire, which gained access to the world’s …
Stephen Catlin, who is selling his Lloyd’s of London insurer to XL Group plc for $4.2 billion, expects the pace of mergers among smaller insurers to gather pace. “Anyone who has got a market value of less than $5 billion …
Catlin Group Ltd., the Lloyd’s of London insurer being bought by XL Group plc, reported a 13 percent rise in full-year pretax profit as it increased its payout to shareholders. Pretax profit was $488 million in the 12 months to …
Beazley plc is targeting 5 percent growth for 2015 as the insurer looks to its U.S. unit to help offset falling prices for coverage at its Lloyd’s of London business. Beazley, the first of its peers to report results, forecasts …
RSA Insurance Group Plc said it will fight a constructive dismissal case filed by the former head of its Irish unit, who stepped down more than a year ago amid an accounting scandal. Philip Smith, who was paid €34,000 ($39,400) …
Aviva Plc said it may eliminate about 1,500 jobs with its £5.6 billion ($8.48 billion) takeover of Friends Life Group Ltd. The job losses form part of an estimated £225 million [$340.76 million] in annual savings from the deal by …
During Mark Wilson’s first week at Aviva Plc in London he stormed out of a meeting with top executives after growing frustrated with the lack of boardroom debate. In the two years since, the chief executive officer sold units from …
Catlin Group Ltd. said it received a takeover approach from Ireland’s XL Group plc valued at about 2.5 billion pounds ($3.9 billion). The shares surged the most on record. Under the terms, XL would buy Catlin for 410 pence in …
Aviva plc, Britain’s second-largest insurer by market value, agreed to buy Friends Life Group Ltd. for about 5.6 billion pounds ($8.8 billion) in stock in the U.K. insurance industry’s biggest takeover in 15 years. Aviva, which last month disclosed it …
