Gjensidige Forsikring ASA, Norway’s largest insurer, sold its remaining 20.1 percent stake in life insurance and pension provider Storebrand ASA for 3.3 billion kroner ($546 million) as it focuses on general insurance. Gjensidige, based in Lysaker near Oslo, sold about …
Kemper Corp. Kemper Corp. is realigning its property/casualty business. This realignment will result in one property/casualty segment for financial reporting purposes, beginning with the first quarter 2014. The new Kemper property/casualty segment will consist of the following: Kemper Personal and …
Liberty Mutual Insurance Group has announced the company’s entry into Malaysia’s $4.6 billion non-life insurance market with its planned acquisition of Uni.Asia Capital Sdn Bhd’s 68.09 percent stake in Uni.Asia General Insurance Berhad (Uni.Asia General) for approximately $113 million. The …
Pine River Capital Management LP, the $14.3 billion hedge-fund firm founded by Brian Taylor, is raising capital for a reinsurance company in the latest push by a money manager into the industry. The firm is seeking to raise $500 million …
Qatar Insurance Company SAQ (QIC) announced that it has reached agreement to acquire the entire share capital of Antares Holdings Limited, together with its subsidiaries, a specialist insurer and reinsurer operating in the Lloyd’s market. QIC said the acquisition of …
Berkshire Hathaway, MyAssist, Insure America Berkshire Hathaway Specialty Insurance has agreed to purchase from Noel Group the assets of MyAssist Inc., a live-agent personal concierge and telematics service-provider, and Insure America LLC, a niche program administrator that provides insurance products …
Bermuda-based Ironshore Inc. announced that its Australian subsidiary has entered into an agreement to purchase all of the shares of Assetinsure Holdings Pty Ltd, the parent company of Assetinsure Pty Ltd (collectively Assetinsure). Ironshore described the company as a “specialist …
Starr Companies announced that it has received a Federal Order from the Office of the Superintendent of Financial Institutions in Canada (OSFI) approving Starr Insurance & Reinsurance Limited, and that it has “established a branch office in Toronto and will …
The Bermuda-based Arch Capital Group Ltd. (ACGL) announced that its “U.S.-based subsidiaries (Arch U.S. MI) have completed the acquisition of CMG Mortgage Insurance Company (CMG MI) and the mortgage insurance operating platform of PMI Mortgage Insurance Co. (PMI). As part …
UK-based P&I Club Sunderland Marine (SMMI) announced that its members “voted strongly in favor” of the proposed merger with North of England P&I Club at an Extraordinary General Meeting held on January 28, 2014. The bulletin noted that North of …
