The UK’s Amlin plc announced that it has entered into an agreement to acquire Fortis Corporate Insurance N.V. (FCI), an important provider of corporate P/C insurance in the Netherlands and Belgium, from the Dutch government for €350 million ($497 million). …
The Bermuda-based Argo Group International Holdings announced that its Lloyd’s operation, Heritage Managing Agency Ltd., has been renamed Argo Managing Agency Ltd. and will conduct business under the brand name of “Argo International.” The rebranding continues the integration of the …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa” of Allianz S.p.A. (Italy), both with stable outlooks. The ratings reflect the enhancement received from the implicit support of Allianz S.p.A.’s …
Bermuda-based IPC Holdings, the prize sought by both Max Capital and Validus Holdings, registered satisfaction at the action of the Supreme Court of Bermuda in dismissing Validus’ proposed scheme of arrangement application. In a press bulletin IPC Chairman Kenneth L. …
TD Insurance Inc. has hired Linda Bogardus as an account manager in the Core Division of Commercial Lines. Bogardus, who is based in Burlington, Vermont, will oversee marketing and servicing large commercial insurance accounts throughout the region. She has more …
As the June 12 shareholders meeting approaches, the three-way tussle between Bermuda-based Validus Holdings and the Max Capital Group over the acquisition of IPC Re shows no signs of letting up. In the latest round Validus lost its bid to …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of the United Arab Emirates-based Gulf Reinsurance Limited with stable outlooks. “The ratings reflect the company’s excellent projected risk-adjusted capitalization, good projected …
The Board of Bermuda-based IPC Holdings Ltd. Has rejected a sweetened takeover bid by Validus Holdings Ltd. The Board backed its Max Capital Group deal, once again turning down overtures by the hostile suitor. Validus had slightly sweetened its hostile …
ACE Limited announced that Brian Dowd, currently CEO, Insurance – North America, has been named to the additional position of Vice Chairman, ACE Limited and ACE Group Holdings. “In addition to his current responsibilities, which encompass ACE’s property and casualty …
Standard & Poor’s Ratings Services said that its ratings on Hong Kong-based American International Assurance Co. Ltd. (AIA; A+/Developing/–) and American International Assurance Co. (Bermuda) Ltd. (AIAB; local currency A+/Developing/–) “were not affected by the announcement of an accelerated separation …
