Cooper Gay Swett & Crawford Limited (CGSC) has announced the closing of its investment agreement with Lightyear Capital LLC. According to the agreement “an affiliated investment fund of the New York-based private equity firm along with institutional co-investors will take …
Canada’s Sun Life Financial and Malaysian state investor Khazanah will buy 98 percent of Aviva Plc’s Malaysian insurance joint venture with lender CIMB for C$586 million (US$593.6 million). Sun Life and Khazanah will each pay C$293 million [US$296.8 million], the …
Tower Group announced that it has received all required insurance regulatory approvals for its merger agreement with Canopius Holdings Bermuda Limited (CHBL). In addition the bulletin said that Tower Group “is restating its reports issued on Form 10-Q for the …
In preparation for rules requiring the bank to hold more capital, Goldman Sachs Group is looking to sell a majority stake in its $1.4 billion reinsurance group, the firm’s incoming chief financial officer, Harvey Schwartz, said Wednesday on the firm’s …
Markel, Alterra Specialty insurer Markel Corp. agreed to acquire Alterra Capital Holdings Ltd. for $3.1 billion in cash and stock to increase its diversification and expand into reinsurance. The transaction is expected to be completed in the first half of …
EPIC, Homeplace Edgewood Partners Insurance Center entered into an agreement to acquire Ontario, Calif.-based Homeplace Insurance Brokers Inc. The Ontario team will report to Dan Ryan, EPIC’s managing principal in Orange County. Homeplace specializes in the design and oversight of …
China’s insurance regulator is seeking more information from Ping An Insurance after reviewing HSBC’s planned sale of its $9.4 billion stake in China’s No.2 insurer to Thailand’s CP Group. The request comes amid concerns about the deal’s funding triggered by …
Peak Reinsurance Company Limited formally announced that it has opened for business. The new reinsurer, established to capture the growing demand for modernized reinsurance solutions in Asia Pacific, said it has “successfully obtained the formal authorization by the Office of …
The UK’s BMS Group, an independent global broker, has announced the opening of its Sydney office, which it said “marks another significant strategic goal for the group, with its first office in the Asia-Pacific region.” The office will be led …
Zurich Insurance reported continued progress in its strategy to exit non-core businesses with two “key milestones” aimed at concentrating its efforts on its principle business activities in the delivery of its strategy to exit its non-core businesses. Zurich announced that …
