Neil Woodford cashed in his entire 107.5 million-pound ($166 million) stake in Amlin Plc after Tuesday’s takeover offer by a Japanese competitor sent the Lloyd’s of London insurer’s shares to a record high. The fund manager sold 16.4 million Amlin …
Amlin Plc’s $5.3 billion takeover by a Japanese competitor has put the remaining four publicly traded Lloyd’s of London insurers in the spotlight for a possible takeover. Beazley Plc, Hiscox Ltd., Lancashire Holdings Ltd. and Novae Group Plc all rallied …
Lancashire Holdings Ltd. Chief Executive Officer Alex Maloney dismissed suggestions the insurer would be better off combining with a larger competitor. “I don’t really buy the bigger is better thing,” Maloney said on a conference call with analysts Wednesday. “I …
Lancashire Holdings Ltd. reported a 10 percent fall in first-half profit amid “pricing pressure” in the Lloyd’s of London insurance market. The company said pretax profit decreased to $88.6 million in the six months through June, while gross written premiums …
Oaktree Capital Group LLC is among investors backing a Bermuda insurance venture that’s seeking to raise $2 billion with plans for an initial public offering within five years. Fidelis Insurance Holdings Ltd. is led by Richard Brindle, the former chief …
Brit plc Chief Executive Officer Mark Cloutier said an excess of insurance industry capital will force more executives to sell or merge their companies. Cloutier said Brit’s planned $1.88 billion sale to Prem Watsa’s Fairfax Financial Holdings Ltd., which was …
Lloyd’s of London insurers Lancashire Holdings plc and Novae Group plc may be the next in line for takeover offers after Brit plc became the second U.K. firm within weeks to be acquired. Lancashire, which gained access to the world’s …
Fairfax Financial Holdings, the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit plc for some $1.88 billion to become one of the top five underwriters on the Lloyd’s of London market. Watsa, …
Bermuda and London-based insurer Lancashire Holdings Limited has estimated that the “net impact on its fourth quarter financial results from Sandy is likely to be in a range of between $40 million and $60 million.” As other companies have indicated, …
