There seems to be a slight divergence of views between Validus Holdings and Allied World over the current status of their respective efforts to acquire Transatlantic Holdings, Inc. Following Transatlantic’s decision to reject its latest offer, and to file a …
Reinsurance company Transatlantic Holdings Inc said Thursday it has filed suit against its unsolicited suitor, Validus Holdings Ltd., and rejected its offer as “inferior and highly conditional.” Transatlantic also established a poison-pill plan to keep anyone from taking control of …
Bermuda-based reinsurer Validus Holdings took its $3.2 billion offer to buy Transatlantic Holdings, Inc. directly to shareholders on Monday, after rejecting its rival’s conditions for merger talks. It was the second time in two years that Validus launched a hostile …
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 …
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 …
Validus Holdings Ltd offered to buy reinsurer Transatlantic Holdings Inc for about $3.5 billion in cash and stock, trumping Allied World Assurance Co Holdings’ all-stock offer. Validus offered 1.5564 in shares and a special dividend of $8 in cash for …
Allied World Assurance Company Holdings, AG has announced that it expects to record approximately $65 million to $75 million in catastrophe related losses and loss expenses in the second quarter of 2011. The company said the majority of those losses …
A.M. Best Co. has commented that the ratings of the subsidiaries of Swiss-based Allied World Assurance Company Holdings, AG and New York-based Transatlantic Holdings, Inc. and its subsidiaries, are unchanged following the announcement of a definitive agreement to merge. Best …
Standard & Poor’s Ratings Services raised its ratings on Bermuda-based Allied World Assurance Co. Holdings AG and its operating subsidiaries by one notch. The counterparty credit rating on the holding company was raised to ‘BBB+’ from ‘BBB’ and the counterparty …
