Specialist insurance broker BMS Group announced that its results for the year ended December 31, 2010, show a “strengthening of financial resources and a share buyback,” which will “support BMS’ expansion strategy in the US and London, as well as …
In dueling press releases both Allied World Assurance and Validus Holdings reaffirmed their respective positions in their competing efforts to acquire the outstanding shares of Transatlantic Holdings, Inc. Bermuda-based Validus noted that it had “delivered to the Board of Directors …
French reinsurer SCOR announced that it has finalized the sale of its subsidiary Investors Insurance Corporation (IIC) to Athene Holding Ltd., as initially announced on February 16, 2011. SCOR said the sale, for $55 million, “is in line with the …
Hub International, Roy Agency Chicago-based Hub International Limited (Hub) has acquired the Roy Agency Inc. (Roy), an insurance brokerage firm headquartered in Plano, Texas. The Roy team will become part of Hub International Rigg (Hub Texas). Agency principals and founders, …
The Doctors Co., FPIC Insurance Group The Doctors Co. acquired FPIC Insurance Group Inc. a Florida-based provider of medical professional liability insurance for physicians, dentists and other healthcare providers. The Doctors Co. will acquire FPIC for $42 per share in …
Esurance, Security First Esurance, the online car insurance company, said that it is partnering with Security First Insurance Co. as an underwriter to offer homeowners insurance in Florida. The move comes a little more than a month after Allstate announced …
The Hanover, Chaucer Massachusetts-based The Hanover Insurance Group has completed its acquisition of Chaucer Holdings, a specialty Lloyd’s insurance group. The $474 million deal includes $13 million to be paid in loan notes to shareholders. “The combination of our companies …
The Zurich Financial Services Group announced that it has signed definitive agreements with Banco Santander SA to enter into a long-term alliance in Latin America. Zurich said the “scope, structure and key financial terms are materially unchanged” from those outlined …
Standard & Poor’s Ratings Services has said that its “ratings on Validus Holdings Ltd. (BBB/Stable/–) remain unchanged following the insurance company’s unsolicited offer to combine with Transatlantic Holdings Inc. (BBB+/Watch Pos/–) in response to the definitive merger agreement between Transatlantic …
A.M. Best Co. has commented that the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based Validus Reinsurance Ltd., as well as the ICR of “bbb-” and the indicative ratings of “bbb-“, “bb+” and …
