Arthur J. Gallagher & Co. announced the acquisition of BenefitLink Resource Group, Inc., in Calgary, Canada. Terms of the transaction were not disclosed. The bulletin said BenefitLink was established in 2001, as an employee benefits insurance broker and consultant, providing …
Golden Bear Stockton, Caif.-based Golden Bear Insurance Co. has opened its first office in the Pacific Northwest. The new office is in Edmonds, Wash. It was opened by Golden Bear Vice President Carl Heckman and his team, and Sarah Cress …
Alleghany, Transatlantic Global specialty insurer Alleghany Corporation completed its previously announced acquisition of reinsurer Transatlantic Holdings. Both companies are headquartered in New York. With the deal’s closing, Transatlantic is now a stand-alone subsidiary of Alleghany. The cash-and-stock deal, which was …
Thailand’s Thanachart Bank Pcl, backed by Canada’s Bank of Nova Scotia, is preparing to sell its insurance operations in a deal could fetch about $500 million, sources familiar with the matter said on Friday. The sale would likely include a …
The Supervisory Board of Hannover Rückversicherung AG (Hannover Re) has approved a resolution of the Executive Board to transform the company into a European public limited company (Societas Europaea, or SE). The proposed change in legal form will be presented …
Talbot Underwriting, Ltd., a wholly owned subsidiary of Validus Holdings, and Abu Dhabi National Insurance Company (ADNIC), a prominent insurance company in the UAE, announced today that they are ceasing their Joint Venture business “Underwriting Risk Services (Middle East) Ltd.”, …
The Bermuda-based Armour Group announced the formation of a new ILS [Insurance Linked Strategies- more commonly ‘securities’] focused asset manager to “target unique opportunities for uncorrelated returns in a low-yield environment.” Armour said its new unit, ILS Investment Management Limited, …
Independent global broker BMS Group announced that it has launched a new global construction initiative, to be headed by Gavin Madell, who has over twenty years’ experience in the field. BMS said the new team “will provide an enhanced service …
The QBE Insurance Group announced that it is combining its worldwide reinsurance operations under a single management team and unified brand, QBE Re. The new reinsurer will “comprise the current statutory businesses of Syndicate 566, QBE Re (Europe), Secura NV …
Willis China, a part of Willis Group Holdings, announced that the Chinese Insurance Regulatory Commission (CIRC) has granted it approval to open a new office in the megalopolis of Chongqing, which Willis said is a “first for a foreign-owned broker …
