American International Group announced that its life and retirement business, SunAmerica Financial Group, Inc., has signed a definitive agreement with The Hartford Financial Services Group Inc. to acquire Woodbury Financial Services, Inc., an independent broker-dealer. Once the transaction is finalized, …
Chicago-based CNA Financial Corporation and Hardy Underwriting Bermuda Limited announced the successful completion of CNA’s acquisition of Hardy, which was approved by Hardy shareholders in April 2012. The bulletin also said that “regulatory approvals for the transaction, including from Lloyd’s …
A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of UK-based Brit Insurance Limited (BIL), and has kept the …
The Netherlands-based Brit Group and Canada’s Fairfax Financial Holdings Limited have announced that RiverStone, Fairfax’ runoff subsidiary, has entered into an agreement with Brit to purchase all of the outstanding shares of UK-based Brit Insurance Limited (BIL), which wrote UK …
Southport Lane, a New York-based private equity firm, has acquired Redwood Reinsurance SPC, Ltd., a Cayman Islands-based reinsurer that provides treaty reinsurance for workers compensation and general liability insurance in the U.S. Terms of the transaction were not disclosed. Redwood …
ACE Limited announced that the company and its local partner have reached a definitive agreement to acquire PT Asuransi Jaya Proteksi (JaPro) in Indonesia for approximately $130 million in cash. JaPro was established in 1963 and is headquartered in Jakarta. …
RSA announced that it has acquired L’Union Canadienne, Compagnie d’Assurances from Co-operators General Insurance Company, subject to regulatory approval. “L’Union Canadienne is the third largest intermediated Motor and Property insurer in Quebec, distributing products through a network of more than …
Arthur J. Gallagher & Co. announced that it has acquired a 78.5 percent interest in Insurance Dialogue Limited (IDL) of Bournemouth, England. Terms of the transaction were not disclosed. Gallagher explained that IDL, trading under the brand Insure4Retirement, “is a …
Insurance broker Lockton announced that it has acquired the minority stake in its operations outside the U.S. held by Trident III, L.P., an investment fund managed by Stone Point Capital LLC of Greenwich, Connecticut. The bulletin explained that Stone Point …
Tower Group announced that it has committed to invest $75 million (based on the current exchange rate) in Canopius Group, Ltd., a privately owned Lloyd’s insurance holding company domiciled in Guernsey, Channel Islands. “Canopius’ principal business is insurance and reinsurance …
