Hub International, Hellman & Friedman LLC Global insurance broker Hub International Limited has agreed to be acquired by funds advised by Hellman & Friedman LLC. The transaction values Hub at approximately $4.4 billion. Under the terms of the agreement, investment …
Allied World Assurance Company Holdings, AG, which is based in Switzerland, announced that its subsidiary, Allied World Assurance Holdings (Ireland) Ltd, has entered into an agreement with Gravity Underwriting Limited for Allied World to invest and own a 21.2 percent …
Bermuda-based American Safety Insurance Holdings, Ltd. announced that Fairfax Financial Holdings Limited has increased its offer to purchase American Safety to $30.25 per share from the previously announced $29.25 per share. American Safety said its board of directors “has approved …
Liberty Mutual Insurance Group, through its wholly owned subsidiary Liberty Insurance Company Limited (LICL), was granted final approval on June 27th to commence business in Shandong by the China Insurance Regulatory Commission (CIRC). LICL’s Chongqing headquarters received CIRC approval in …
A.M. Best Europe – Rating Services Limited has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 2010, “remains unchanged” after the announcement that Bermuda-based Lancashire Holdings Limited has entered …
A.M. Best Co. has commented that the ratings of Bermuda-based Lancashire Holdings Limited, Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) Limited – collectively known as Lancashire – “remain unchanged following its announcement that it has entered into conditional …
Aviva PLC is planning to pull out of its Indian insurance joint venture, valued at more than $500 million, as the British insurer retreats from less-profitable markets where it has struggled to grow its business, sources said. Aviva is in …
Holborn, W.J. Lehrke Reinsurance brokers Holborn Corp. of New York and W.J. Lehrke Co. of Edina, Minn., have agreed to merge. Details were not disclosed. The combined firm is operating under the Holborn name, and all current Lehrke personnel will …
Bermuda-based American Safety Insurance Holdings, Ltd. announced that Fairfax Financial Holdings Limited has provided the company “with a waiver of certain provisions under the merger agreement between the companies.” Fairfax concluded an agreement to buy American Safety for $306 million …
XL Group and private equity firm Stone Point Capital LLC have announced the formation of a new Bermuda-based company to act as an investment manager in insurance-linked securities (ILS) and other reinsurance capital markets products. XL said it “has a …
