Warren Buffett’s Berkshire Hathaway Inc. will pay A$500 million ($388 million) for a stake in Insurance Australia Group Ltd. as part of a plan to expand in the region. The agreement will give Berkshire 20 percent of IAG’s insurance premium …
Third Point Reinsurance Ltd., co-founded by hedge-fund manager Dan Loeb, said the company is positioned to withstand competition from other investment firms because the industry isn’t as easy to enter as some people think. Fund managers “have a lot of …
PartnerRe Ltd. said it would engage in discussions with hostile bidder EXOR SpA to seek a better offer than the $6.8 billion proposal that the target company called “unacceptable.” “While we believe that PartnerRe is worth materially more than EXOR …
A Blackstone Group LP vehicle offering hedge fund strategies to mutual fund investors plans to allocate money to a firm backed by rival KKR & Co. The Blackstone Alternative Multi-Strategy Fund is hiring Nephila Capital Ltd. as a sub-adviser, according …
The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory …
PartnerRe Ltd. is betting the value of a merger with AXIS Capital Holdings Ltd. is worth more in the long run than an extra few dollars a share now. Shareholders may not agree. The Bermuda-based reinsurer on Monday chose a …
XL Group plc Chief Executive Officer Mike McGavick said the insurer is looking to illiquid securities and infrastructure investments to boost portfolio yields squeezed by interest rates that are near record lows. “We can get a little bit into the …
XL Group plc Chief Executive Officer Mike McGavick said that while he shuns casinos unless he’s with his mother-in-law, he’s felt lately like he was sitting at a “high stakes table” as he made insurance deals. McGavick announced a plan …
Investment vehicles set up by Paulson & Co. and Highbridge Capital Management in tax-friendly Bermuda may be under threat from the U.S. Internal Revenue Service. The IRS, in proposed rules published Thursday, said that the favorable treatment enjoyed by insurers …
The Agnelli family’s EXOR SpA, known for investments in cars and soccer, is dismissing the prevailing reinsurance strategies as it seeks to push into the industry with a $6.4 billion takeover. EXOR is shunning the idea that it should take …
