Swiss Re announced that it will acquire approximately 300,000 policies and £1.6 billion [$2.62 billon] in assets from American Life Insurance Company. The transaction reinforces Swiss Re’s “commitment to strengthening its Admin Re® market presence,” said the bulletin. It has …
Hub International Limited plans to acquire First Southeast Insurance Services, Inc. (FSIS), an insurance brokerage firm headquartered in Charleston, South Carolina with four operating units in North and South Carolina. FSIS will become a new regional platform doing business as …
Thomas H. Lee Partners, L.P. (THL), a private equity firm, and the French-owned Sword Group announced that they have signed a definitive agreement under which THL will acquire Sword Insurance, a leading global provider of software and services to the …
Arthur J. Gallagher & Co. (AJG), has completed the purchase of HLG Holdings Ltd (the Heath Lambert Group), for a net purchase price of £97 million ($158 million). Heath Lambert is headquartered in London and has 16 offices throughout the …
Catalina Holdings (Bermuda) Ltd. announced that, following consent from FINMA, the Swiss Financial Markets Supervisory Authority, it has completed the acquisition of Glacier Reinsurance AG, the Swiss-based reinsurance company in run-off. The bulletin noted that Glacier Re, established in 2004, …
French reinsurer SCOR is set to pay $913 million for most of Dutch insurer Aegon’s Transamerica Reinsurance operations. When concluded, the combined companies would become the second largest life reinsurer in the U.S. Aegon, which has been winding down and …
A.M. Best Europe – Rating Services Limited has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084 the ICR of “bbb” of the UK’s Chaucer Holdings PLC (CHP) are …
A.M. Best Europe – Rating Services Limited has removed from under review with negative implications and affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of UK-based Brit Insurance Limited (BIL). Best also removed …
Britain is probing investment banks over insurer Prudential Plc’s failed $35.5 billion bid for rival AIG’s Asian business, AIA, last year, two people familiar with the matter said. The probe, ordered by the Financial Services Authority (FSA), would examine the …
Lloyd’s insurer Chaucer plc has issued a statement endorsing the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Chaucer by 440 Tessera Limited (BidCo), a wholly-owned subsidiary of U.S. insurer …
