Latest Transaction Notices

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

Randall & Quilter Investment Holdings Ltd. (‘R&Q’ or ‘the Group’) is pleased to announce that its wholly owned subsidiary, Randall & Quilter II Holdings Limited, has signed an agreement to acquire, subject to regulatory approval, the entire issued share capital of Vibe Services Management Limited (‘Vibe Services’), Vibe Corporate Member Limited (‘VCML’) and Vibe … [Read more...] about Acquisition of Vibe Lloyd’s interest

HAMILTON, Bermuda, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has entered into an agreement with subsidiaries of ProSight Global, Inc. (“ProSight”) to provide reinsurance relating to 2019 and prior year business. The reinsurance will comprise a ground up loss portfolio transfer of ProSight’s … [Read more...] about Enstar Announces Reinsurance Transaction With ProSight

NEW YORK, December 11, 2020 MetLife, Inc. (NYSE: MET) today announced that it has signed a definitive agreement to sell Metropolitan Property and Casualty Insurance Company and certain wholly owned subsidiaries to Farmers Group, Inc. (FGI), a subsidiary of Zurich Insurance Group, for $3.94 billion in cash, subject to the terms therein. FGI has informed MetLife that it will … [Read more...] about MetLife to Sell Auto & Home Business to Zurich Insurance Group Subsidiary Farmers Group, Inc. for $3.94 Billion

Release Date: 06 January 2021 DARAG Group (“DARAG”), a leading legacy acquirer, today announces the conclusion of a transaction with a major US retailer to provide finality to its legacy workers compensation liabilities. The transaction was conducted through one of DARAG North America’s insurance entities. READ MORE... … [Read more...] about DARAG Announces Reinsurance Agreement with US Retailer

Hamilton, Bermuda – Nov. 2, 2020 – Argo Group International Holdings, Ltd. (NYSE: ARGO), an underwriter of specialty insurance and reinsurance products, today announced an agreement to sell its reinsurance business, Ariel Re, to Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise. Closing of the transaction is subject … [Read more...] about Argo Group Announces Agreement to Sell Ariel Re to Pelican Ventures and J.C. Flowers