FWD Group Ltd., the Hong Kong-based insurer backed by billionaire Richard Li, withdrew its U.S. initial public offering as China tightens its grip on overseas listings. The company said in a filing Monday with the U.S. Securities and Exchange Commission …
Fairfax Financial Holdings Ltd. announced the completion of the previously announced sale of a minority stake in Fairfax’s subsidiary, Odyssey Group Holdings for an aggregate cash price of US$900 million. An affiliate of CPPIB Credit Investments Inc., a wholly-owned subsidiary …
Billionaire Richard Li’s FWD Group Ltd. raised more than $1.4 billion in private placements with investors including an insurer backed by Apollo Global Management Inc. The investors include Apollo’s Athene Holding Ltd., Canada Pension Plan Investment Board, Siam Commercial Bank …
Canada Pension Plan Investment Board (CPP Investments) is seeking to sell its Wilton Re and Ascot Group insurance platforms, marking a strategic U-turn for the fund in the face of intense competition, people familiar with the matter said on Wednesday. …
Ascot Group Ltd. has launched Ascot Reinsurance Co. Ltd., after receiving approval from the Bermuda Monetary Authority (BMA). Ascot Re has received an additional injection of $1 billion of funds and has been given an “A” rating by A.M. Best, …
American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board (CPPIB) for $1.1 billion. Total consideration for the deal is …
American International Group Inc. is in early talks to sell its minority stake in the Lloyd’s of London syndicate manager Ascot Underwriting Holdings Ltd. to Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported on Tuesday. If the …
Allianz SE, Europe’s biggest insurer, struck a deal to limit risks in the U.S. by transferring policy obligations to reinsurer Enstar Group Ltd. Enstar will assume net reinsurance reserves of about $1.1 billion and cover half of a book of …
UBS O’Connor LLC, the $6 billion hedge-fund unit within Switzerland’s biggest bank, will manage money for a new Bermuda-based reinsurance company formed by insurer Enstar Group Ltd. Aligned Re Ltd. is expected to be funded by third-party capital along with …
A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Wilton Reinsurance Bermuda Ltd., Wilton Reassurance Company, based in Minneapolis, Texas Life Insurance Company, Heritage Union Life Insurance Company, headquartered in …
