HSBC has agreed to sell its general insurance businesses to French insurer AXA Group and Australia’s QBE Insurance Group for $914 million in cash, as Europe’s biggest bank moves ahead with its plan to divest non-core assets. The deal, the …
Markel International announced from its London headquarters that it has acquired the portfolio of business of Quay Underwriting (QU), a managing agent based in Dorset. Markel said QU “provides a wide range of insurance products for fine art and collectables, …
Standard & Poor’s Ratings Services has followed up on its analysis of its ratings for Bermuda-based Ariel Reinsurance Co. Ltd. following the announcement that it is selling its Bermuda-based business to Arrow, a unit of Goldman Sachs, and its credit …
The selloff of various parts of Ariel Re continues, as Arch Capital announced that it will acquire Ariel Re’s Credit & Surety reinsurance operations based in Zurich. The news follows an earlier announcement that Goldman Sachs is acquiring Ariel Re’s …
Both A.M. Best and Standard & Poor’s issued bulletins following the announcement that Ariel Re was selling off its Bermuda-based reinsurance business to Arrow, a unit of investment Bank Goldman Sachs, and its trade credit and surety (C&S) operations, which …
American International Group is selling part of its stake in AIA Group to raise about $6 billion to help the U.S. insurer repay a huge federal government bail-out. AIG is looking to place some 1.7 billion AIA shares in a …
OneBeacon, Interboro OneBeacon Insurance Group completed the sale of its AutoOne business to Interboro Holdings of New York. The transaction, which was announced on Aug. 31, 2011, included AutoOne Insurance Co. and AutoOne Select Insurance Co., along with the assets, …
Veracity, Stratus Pleasant Grove, Utah-based Veracity Insurance Solutions LLC has acquired Stratus Insurance Services Inc. Of particular interest to Veracity was Stratus’s collective experience in program management. The Stratus team brings decades of expertise to Veracity. Stratus members joining Veracity …
AutoOne, Interboro OneBeacon Insurance Group completed the sale of its AutoOne business to Interboro Holdings Inc. of New York. The transaction, which was announced on Aug. 31, 2011, included AutoOne Insurance Co. and AutoOne Select Insurance Co., along with the …
Town & Country, Whittington Insurance Houston-based Town & Country Insurance Agency Inc., a subsidiary of Encore Bancshares Inc. and an affiliate of Encore Bank N.A., has completed its acquisition of Whittington Insurance Agency. Whittington Insurance Agency is an independent insurance …
