Bermuda-based Endurance Specialty Holdings Ltd. reported net income available to common shareholders of $76.0 million and $1.68 per diluted common share for the second quarter of 2015 versus net income of $75.0 million and $1.68 per diluted common share for …
Bermuda-based Montpelier Re Holdings Ltd announced that it has scheduled a special general meeting of its shareholders to “consider and vote upon a proposal to approve the previously announced Agreement and Plan of Merger,” dated March 31, 2015. Shareholders will …
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 …
AXIS Capital Holdings Ltd., seeking to complete a merger with PartnerRe, is highlighting the prospects for growth of a combined company. AXIS projects the post-merger market valuation will reach a level akin to those of other insurers targeted in recent …
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 …
Fosun International Ltd., the investment arm of China’s biggest closely held conglomerate, is planning a $1.84 billion merger with Ironshore Inc. after buying the shares it doesn’t already own in the Bermuda-based insurer. Fosun’s unit Mettlesome Investment 2 will combine …
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 …
Bermuda-based Endurance Specialty Holdings Ltd. and Montpelier Re Holdings Ltd. announced a merger today, in which Endurance will acquire Montpelier in a stock-cash deal for roughly $1.8 billion. Specifically, the deal consideration consists of 0.472 shares of Endurance and $9.89 …
Insurance deal making is heating up as companies embrace a bigger-is-better philosophy. AXIS Capital Holdings Ltd.’s plan to merge with PartnerRe Ltd., creating a firm with a combined market value of $11 billion, marks the third sizable deal for a …
Bermuda-based Montpelier Re Holdings Ltd. reported operating income for the second quarter of $36 million, or $0.76 per common share. Net income was $37 million, or $0.78 per common share, which “included $12 million of realized and unrealized investment gains …
