The largest shareholder in reinsurer Transatlantic Holdings Inc will oppose the company’s acquisition by Allied World, opening the door to two other suitors. Davis Selected Advisers, which owns 23.6 percent of Transatlantic, previously said it might oppose the deal, which …
France’s SCOR Group announced that it has finalized the acquisition of the mortality portfolio, including the operational assets and personnel, of Transamerica Re, a division of The Netherlands-based AEGON. SCOR said it “has obtained all the necessary approvals from the …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084. In addition Best affirmed the ICR of “bbb” of Chaucer Holdings PLC …
The ACE Group announced today that its ACE INA International Holdings, Ltd. subsidiary has acquired all of the outstanding shares it does not already own, or approximately 49 percent, of ACE Synergy Insurance Berhad in Malaysia from Advance Synergy Capital …
The Travelers Companies announced that the company has completed its acquisition of a 43 percent interest in JMalucelli Participações em Seguros e Resseguros S.A., the market leader in the surety insurance business in Brazil with a market share in excess …
Zurich Financial Services Group announced that its subsidiary, Zurich Insurance Company Ltd., has signed an agreement to acquire 100 percent of the share capital of Malaysian Assurance Alliance Berhad (MAAB), a Malaysian composite insurer. Zurich is acquiring the company from …
Lloyd’s insurer and syndicate leader R.J. Kiln, a member of the Tokio Marine Group, announced that it has bought a 49 percent share in California-based WNC Holdings – a provider of specialty insurance products and services to US-based financial institutions …
A.M. Best announced a number of rating actions as a result of the announcement on May 31 that that Intact Financial Corporation (IFC) has signed a definitive agreement to purchase 100 percent of the stock of AXA Canada Inc. Best …
Starr Companies announced that Starr International Company, Inc. has been approved by the China Insurance Regulatory Commission [CIRC] as a strategic equity investor of Dazhong Insurance Company Limited of China. Starr International said the approval allows it, “through its subsidiary, …
Australia’s QBE announced it has completed acquisition of Balboa’s Insurance portfolio, following the agreement with Balboa’s parent, Bank of America, to do so last February. QBE noted that the “transaction includes a long-term distribution agreement with Bank of America for …
