UK-based RSA announced that a subsidiary, Sun Alliance Insurance Overseas Limited, and Maduro & Curiel’s Bank N.V. “have reached a final agreement to sell Royal & Sun Alliance Insurance (Antilles) N.V. to Fatum General Insurance N.V.” The business reported £15 …
Bermuda-based PartnerRe Ltd. announced a definitive agreement to acquire California-based Presidio Reinsurance Group, a U.S. specialty accident and health reinsurance and insurance writer. PartnerRe said it would “purchase the Presidio Reinsurance Group, comprised principally of a Managing General Agency (MGA) …
American International Group may raise as much as $6.5 billion from the sale of its remaining stake in AIA Group Ltd in Asia’s second-largest block sale ever, exiting a business the U.S. insurer started nearly 100 years ago. The sale …
HCC Global Financial Products, a provider of Financial Lines Insurance since 1999, announced the launch of an international HCC branded Kidnap and Ransom (K&R) Insurance product in conjunction with HCC Specialty, which has been providing K&R insurance since 1980. HCC …
Insurance Australia Group Limited has announced the sale of all its UK operations, following the strategic review process which it undertook in May 2012. IAG said it expects to carry out the sale in two separate transactions: “The Equity Red …
American International Group has agreed to sell nearly all of ILFC , the world’s second-largest airplane leasing business, to a Chinese consortium for up to $4.8 billion, giving the fastest growing aviation market easier and cheaper access to planes. Chinese …
Commercial insurance underwriting agency, APC, announced that it has begun its expansion drive into Continental Europe by launching APC Holland, based in The Hague. APC said the “independent MGA will provide a range of covers for the Dutch SME market …
The Travelers Companies, Inc. announced that it has increased its ownership stake in J. Malucelli Participações em Seguros e Resseguros S.A., its joint venture in Brazil, by exercising a pre-existing option to purchase newly issued shares. As a result, Travelers …
Bermuda-based Montpelier Re Holdings Ltd announced the launch of Blue Capital, an asset management platform offering a range of catastrophe reinsurance-linked investment products to institutional and retail investors. Montpelier Re’s President and CEO Chris Harris pointed out that the reinsurer …
A conglomerate controlled by Thailand’s richest man, Dhanin Chearavanont, has bought a minority stake in China’s Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia’s second-largest deal this year. Dhanin’s Charoen Pokphand …
