Reinsurers Allied World Assurance Co. Holdings Ltd and Transatlantic Holdings Inc. called off their merger Friday in the face of overwhelming opposition, leaving Transatlantic to decide between two larger, unsolicited offers. Allied World said in a statement it would receive …
Global insurance loss adjuster McLarens Young International is merging with aviation loss adjuster Airclaims of the United Kingdom. While both companies will continue to operate under their own brands, Airclaims will become a fully owned entity operating within the McLarens …
Allied World Assurance Company Holdings, AG has announced “significant new merger-related synergies that can be achieved through the combination with Transatlantic Holdings, Inc.” The company said it “now estimates an annual run rate of over $160 million in synergies, an …
Two independent insurance brokers announced today they are joining forces to become one of the largest insurance brokerages in Los Angeles and Ventura counties. The August 1st agreement combines Northridge Insurance Agency (NIA) in the San Fernando Valley with the …
There seems to be a slight divergence of views between Validus Holdings and Allied World over the current status of their respective efforts to acquire Transatlantic Holdings, Inc. Following Transatlantic’s decision to reject its latest offer, and to file a …
Standard & Poor’s Ratings Services has said that its “ratings on Validus Holdings Ltd. (BBB/Stable/–) remain unchanged following the insurance company’s unsolicited offer to combine with Transatlantic Holdings Inc. (BBB+/Watch Pos/–) in response to the definitive merger agreement between Transatlantic …
A.M. Best Co. has commented that the ratings of the subsidiaries of Swiss-based Allied World Assurance Company Holdings, AG and New York-based Transatlantic Holdings, Inc. and its subsidiaries, are unchanged following the announcement of a definitive agreement to merge. Best …
The Cooper Gay Swett & Crawford Group (CGSC) has released its first combined results since the two brokers completed their merger agreement last July. The Group reported Fees and commissions of $340 million, underlying *EBITDA of $68 million, and net …
Ohio-based Hylant Group, one of the largest privately owned insurance brokerage firms in the nation, recently acquired a substantial portion of Creative Benefits Systems (CBS), an employee benefits provider in Grand Rapids, Michigan. The acquisition will expand Hylant’s employee benefits …
The Bermuda-based Catlin Group Limited has purchased Blue Ridge Insurance Co. (BRIC) from the QBE Insurance Group. Catlin will rename BRIC as Catlin Indemnity Co. and expects to begin writing business through this company in the second quarter of 2011. …
