Insurance Australia Group, Australia’s top home and car insurer, reported a more than two-fold jump in annual net profit on Thursday but its outlook knocked the shares lower. IAG forecast profit margins of 10-12 percent for the year to June …
Bermuda-based Lancashire Holdings Limited has received approval from its shareholders to proceed with its previously announced plan to move its tax residence to the UK. The company, which operates subsidiaries in both Bermuda and the UK, announced the move at …
Insurance Australia Group Limited (IAG) announced it has agreed to acquire a 20 percent strategic interest in China’s Bohai Property Insurance Pty Ltd., a general insurer IAG said it would pay RMB687.5 million (approximately A$100 million [US$104.3 million]) for the …
Tokio Marine Holdings, Inc. is to become the sole shareholder of the largest Hawaii-based property and casualty insurance carrier. The Japanese insurer announced in Tokyo this week it has reached an agreement to acquire the remaining 50 percent ownership interest …
Transatlantic Holdings opened talks with a unit of Warren Buffett’s Berkshire Hathaway on Friday over a $3.2 billion takeover offer, adding a new twist in the battle for the reinsurer. The Berkshire unit, National Indemnity, entered into a confidentiality agreement …
The three-way bidding war for reinsurer Transatlantic Holdings grew more complicated Thursday as hostile suitor Validus Holdings sued the company, but also offered to open its own books for review. The dual moves were designed to raise the pressure on …
ING will not be launching a stock market flotation for its insurance operations any time soon and trade buyers are expressing interest, the Dutch bancassurer said on Thursday. European Commission regulators seeking payback for the state bailout the bank received …
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 …
Bermuda-based reinsurer Validus Holdings took its $3.2 billion offer to buy Transatlantic Holdings, Inc. directly to shareholders on Monday, after rejecting its rival’s conditions for merger talks. It was the second time in two years that Validus launched a hostile …
A.M. Best Co. has commented that the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based Validus Reinsurance Ltd., as well as the ICR of “bbb-” and the indicative ratings of “bbb-“, “bb+” and …
