Latest Transaction Notices

It’s a done deal for Premia Holdings and The Hartford, after the latter’s sale of Navigators Holdings (Europe) NV and its subsidiaries secured the required approvals from the National Bank of Belgium and the Commissariat Aux Assurances in Luxemburg. The acquired business, subsidiaries of which include Antwerp-headquartered property and casualty insurer Assurances … [Read more...] about The Hartford completes major sale

According to local reports, reinsurer Swiss Re is planning to make a Rs 920 crore (USD 123 million) investment in the Paytm Insuretech Private Limited (PIT) business of Indian financial services firm Paytm, through which it will take a 23% stake in the initiative. Paytm, which specializes in digital payment systems, e-commerce and finance, plans to leverage its customer base … [Read more...] about Swiss Re eyes stake in India’s Paytm Insuretech for $123mn

Genesis Legacy Solutions (“GLS”), part of the Maiden Holdings, Ltd. (NASDAQ: MHLD), today announced that it had issued its first Loss Portfolio Transfer Agreement through its Vermont cell to an affiliate of Cypress Property & Casualty Insurance Company. This agreement reinsures Cypress’ commercial general liability portfolio written in Florida and Texas from 2008 through … [Read more...] about Genesis Legacy Solutions announces its first Loss Portfolio Transfer

Resolution Life US Holdings has announced the signing of a $9.4 billion reinsurance transaction between its insurance subsidiary, Security Life of Denver Insurance Company (SLD) and The Lincoln National Life Insurance Company, a subsidiary of Lincoln National Corporation. The deal consists primarily of bank and corporate owned life insurance business alongside a smaller … [Read more...] about Resolution Life signs $9.4bn reinsurance deal with Lincoln Financial

HAMILTON, Bermuda, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed the purchase of the entire 27.7% interest in Enhanzed Reinsurance Ltd. (“Enhanzed Re”) previously held by an affiliate of Hillhouse Group. The purchase price of $217.1 million is based on 90% of Enhanzed Re’s total … [Read more...] about Enstar Completes Acquisition of Controlling Interest in Enhanze Re

Compre, the international specialist legacy group, and SiriusPoint have reached an agreement for Compre to acquire a $417 million portfolio of legacy liabilities. The transaction is structured as a loss portfolio transfer and will be underwritten by Compre’s class 3A Bermudian reinsurer, Pallas Reinsurance Company Ltd. (Pallas Re). The portfolio in question comprises … [Read more...] about Compre to acquire SiriusPoint legacy portfolio for $417mn

AXA announced today that it has entered into an agreement with HSBC* to sell AXA Insurance Pte Ltd (“AXA Singapore”). Under the terms of the agreement, AXA will sell AXA Singapore for a total cash consideration of USD 575 million (or Euro 487 million*). The transaction is estimated to result in a negative net income impact of ca. Euro 160 million in AXA Group’ s FY21 … [Read more...] about AXA to sell its insurance operations in Singapore for USD 0.6 billion

DARAG Group (“DARAG”), a leading legacy acquirer, today announces that following a competitive process, its German insurance carrier DARAG Deutschland AG has signed a Loss Portfolio Transfer (“LPT”) followed by a Portfolio Transfer (“PTA”) with Insr Insurance Group ASA (“Insr”), an insurance group listed on the Oslo Stock Exchange (“OSE”) All of Insr’s remaining insurance … [Read more...] about DARAG announces Loss Portfolio Agreement with Insr Norway

HAMILTON, Bermuda, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with ProSight Global, Inc. (“ProSight”) to provide reinsurance relating to 2019 and prior year business. The reinsurance comprises a ground up loss portfolio transfer of ProSight’s discontinued workers’ … [Read more...] about Enstar Completes Transaction with ProSight

HAMILTON, Bermuda, July 15, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that it has entered into an agreement to repurchase an aggregate of 3,749,400 ordinary shares of Enstar held by funds managed by Hillhouse Group (“Hillhouse”) for a price of $234.52 per share, totaling $879.3 million in aggregate, a discount to book value. The shares … [Read more...] about Enstar Announces Two Transactions with Hillhouse

Randall & Quilter Investment Holdings Ltd, (AIM-RQIH) (“R&Q”), the leading non-life global speciality insurance company focusing on Program Management and Legacy Insurance businesses, is pleased to announce the completion of the novation of four loss portfolio transfer agreements managed by Armour Risk Management Ltd previously in place between ILS P&C Re and … [Read more...] about Completion of Four Portfolio Transfers

HAMILTON, Bermuda, June 03, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announces today that one of its wholly owned subsidiaries has completed a Loss Portfolio Transfer with Hiscox Ltd (“Hiscox”), pursuant to which Enstar’s Syndicate 2008 has reinsured a diversified portfolio of legacy insurance business underwritten by Hiscox Syndicate 3624, including the … [Read more...] about Enstar Reinsures Hiscox Legacy Portfolio

Randall & Quilter II Holdings has completed the acquisition of Electric Insurance Ireland DAC (EIIDAC), a wholly-owned captive insurer of Electric Insurance Company (EIC). The wholly-owned UK subsidiary of Randall & Quilter Investment Holdings (R&Q) received regulatory approval from the Central Bank of Ireland for the acquisition. EIIDAC was incorporated in … [Read more...] about R&Q acquires second Irish captive

Aon plc and Willis Towers Watson have agreed to sell Willis Re and a set of Willis Towers Watson corporate risk and broking and health and benefits services to Arthur J. Gallagher & Co. These businesses will be divested for a total consideration of $3.57 billion. The agreement helps resolve questions raised by the European Commission and is intended to address certain … [Read more...] about Aon, Willis Towers Watson to Sell WTW Assets to Gallagher for $3.57 Billion

HAMILTON, Bermuda, May 03, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with AXA XL, a division of AXA, to provide adverse development cover. In the transaction, Enstar’s subsidiary assumed reinsurance losses incurred on or prior to December 31, 2019 on a diversified mix of … [Read more...] about Enstar Completes Transaction with AXA LX

Release Date: 05 May 2021 DARAG Group Limited (“DARAG”), a leading legacy acquirer, today announces it has executed a reinsurance transaction (‘LPT’) with Pacific Valley Insurance Company (“PVIC”), Lyft Inc’s (“Lyft”) captive insurance company. The LPT, written through DARAG Bermuda Ltd, covers PVIC’s commercial auto liabilities (predominantly from an excess layer for … [Read more...] about DARAG announces reinsurance agreement with Lyft Captive

CHARLOTTE, N.C.--(BUSINESS WIRE)--HG Holdings, Inc. (OTCQB: STLY) announced that it has entered into an agreement to acquire 100% of the equity of National Consumer Title Insurance Company (“NCTIC”) and 100% of the interest in National Consumer Title Group, LLC, which indirectly owns 50% of the membership interest in Omega National Title Agency (“Omega”). As a closing … [Read more...] about HG Holdings, Inc. Announces Agreement to Acquire National Consumer Title Insurance Company From Southern Fidelity Insurance Company and Affiliates

RiverStone has completed its deal to reinsure-to-close (RITC) the open years of Syndicate 376. The syndicate has been under the control of Whittington Capital Management, and is one of the largest in run-off in the Lloyd’s market. Syndicate 376 has gross liabilities of approximately $250mn, down from around $1bn. Alleghany’s Syndicate 376 collapsed on the Central Fund at the … [Read more...] about RiverStone Completes Deal to RITC Syndicate 376

DARAG today announced the acquisition of SunPoint Holdings Limited (“SunPoint”) in Bermuda. SunPoint will be integrated into DARAG Bermuda Ltd and will provide DARAG Bermuda with a platform for further expansion. This is DARAG’s first company acquisition in Bermuda since the launch of its Bermuda operation in 2019 and provides the seller with complete economic and legal … [Read more...] about DARAG Announces Acquisition of SunPoint in Bermuda

CR-2020-004278 CR-2020-004271 We refer to the scheme documents issued by Stronghold Insurance Company Limited (In Administration) (the "Company") on 16 December 2020 in relation to the Direct Scheme (the "Direct Scheme Document") and the General Scheme (the “General Scheme Document”). Terms used but not defined in this notice shall have the meaning given to them in the scheme … [Read more...] about Stronghold Notice of Effective Dates and Direct Final Claims Time