Hashtag: #BusinessMergers
Starr Acquires Aspen’s Aviation Operation
Starr Insurance Companies has entered into an agreement to acquire the renewal rights of Aspen Insurance’s aviation business. “The value of the aviation book is estimated to be in excess of $50 million in gross written premiums,” the company said. “In conjunction with this agreement, Starr will also manage all underwriting and claims... Read more of this article
Bermuda Forwarders, BEST Shipping Join Forces
Bermuda Forwarders has agreed the sale of its freight business to BEST Shipping, with the company saying “both parties believe that their collective strengths will create a stronger team and provide their clients and improved all-around shipping experience. “Bermuda Forwarders Ltd. is thankful that after more than 60 years in the business... Read more of this article
Apex Successfully Closes Deutsche Acquisition
Apex Group Ltd. has completed the acquisition of Deutsche Bank Alternative Fund Services [Deutsche Bank AFS]. “Adding $170 billion in assets under administration to the Group’s portfolio, the successful final close of the deal has solidified Apex as one of the world’s largest fund administrators,” the company said. “First... Read more of this article
Apex Group Announces Acquisition Of Ipes
Apex Group and Genstar Capital jointly announced the acquisition of Ipes, a leading provider of fund administration and other services to the private equity sector. “Adding $165 billion in assets under administration to the Group’s portfolio, this acquisition will bolster Apex’s private equity capabilities and depositary services across... Read more of this article
XL Group Approve Merger Agreement With AXA
In a filing with the Bermuda Stock Exchange [BSX], XL Group Ltd announced shareholders’ approval of the Merger Agreement with AXA. The filing stated: “XL Group Ltd announced today that its common shareholders have approved an agreement for AXA to acquire 100% of XL Group. “Total consideration for the planned acquisition would amount to approximately... Read more of this article
Sompo Completes Acquisition Of Lexon Surety
Sompo International Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has completed the acquisition of the operating subsidiaries of Lexon Surety Group LLC, which was first announced on January 3, 2018. Lexon, the second largest independent surety insurer in the U.S., is comprised of Lexon Insurance Company,... Read more of this article
Bacardi Completes Acquisition Of Patrón
Bermuda-headquartered Bacardi Limited announced the completion of a transaction that makes the family-owned company the sole owner of Patrón Spirits International AG and its Patrón brand, the world’s top-selling super-premium tequila. “The transaction, which was announced in late January, closed today and follows a successful relationship... Read more of this article
Athora Holding To Acquire Generali Belgium
Athora Holding will acquire Generali Belgium S.A., the Belgium-based subsidiary of international insurance group Assicurazioni Generali S.p.A. Cash consideration for the transaction will be approximately €540 million. The company said, “”Generali Belgium is today the 11th largest insurer in Belgium providing a broad set of insurance solutions... Read more of this article
Argo Group Announces Acquisition Of Ariscom
Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products, today [March 13] announced it has acquired Italian specialty insurer Ariscom. Effective immediately, Matt Harris, head of ArgoGlobal’s European and Asian operations, will assume the role of Ariscom Managing Director. “Ariscom provides... Read more of this article