BlackRock Inc., the world’s largest money manager, and Evan Greenberg’s ACE Ltd. raised $800 million for a reinsurance venture, at the low end of the announced range. ABR Reinsurance Capital Holdings Ltd. raised the funds through a private placement, the …
Bermuda-based Endurance Specialty Holdings Ltd. and Montpelier Re Holdings Ltd. announced a merger today, in which Endurance will acquire Montpelier in a stock-cash deal for roughly $1.8 billion. Specifically, the deal consideration consists of 0.472 shares of Endurance and $9.89 …
A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Third Point Reinsurance Company Ltd. (TPRCL) (Bermuda) and Third Point Reinsurance (USA) Ltd. (TPRUSA) (Bermuda). A.M. Best also has …
Third Point Reinsurance Ltd., which counts Dan Loeb as a founder, said it’s more than just a hedge fund investing vehicle as the Internal Revenue Service weighs tightening regulation for offshore companies. “Anyone that spent a day in our office …
RenaissanceRe Holdings Ltd. announced that it has completed its acquisition of Platinum Underwriters Holdings Ltd. The acquisition was originally announced on November 24, 2014. “The combination of RenaissanceRe and Platinum marks an important milestone for our company, benefiting our expanded …
Jardine Lloyd Thompson Group plc announced that JLT PARK will be rebranded as JLT Specialty Bermuda. This change became effective on March 1, 2015, subject to regulatory approval. JLT also is announcing a number of senior management changes for its …
XL Group plc, the insurer that agreed to buy Catlin Group Ltd. for about $4 billion, said it faces a risk label after the deal that could lead to increased oversight from global regulators. “Following the completion of the proposed …
RenaissanceRe Holdings Ltd. announced it has received all regulatory approvals required in connection with its previously announced acquisition of Platinum Underwriters Holdings, Ltd. The transaction remains subject to approval by the shareholders of Platinum at Platinum’s previously announced shareholder meeting …
Third Point Reinsurance Ltd., the Bermuda-based company co-founded by hedge-fund manager Dan Loeb, said buying a competitor in the U.S. or Europe could clash with its business model. “One of our strengths is we can tell people that our money …
Arch Capital Group Ltd., a Bermuda-based insurance and reinsurance company, reports that net income available to Arch common shareholders for the 2014 fourth quarter was $209.7 million, or $1.60 per share, compared to $156.0 million, or $1.14 per share, for …
