M&A
AXIS $611.5M Acquisition of Novae to Close by Mid-October
AXIS Capital Holdings Ltd. expects to complete its acquisition of Novae Group plc by mid-October. European Commission approval of the $611.5 million transaction is expected no later than Oct. 18, the ...
Insurance Holding Company Alleghany Is Selling PacificComp to CopperPoint Mutual for $150M
Alleghany Corp. will sell off workers compensation carrier Pacific Compensation Insurance Company (PacificComp) to a rival for $150 million in cash. Arizona-based CopperPoint Mutual Insurance Company ...
MGA Acquisitions Still Hot: GC Securities
With growth prospects becoming rarer in the continuing competitive insurance market, carriers are among three sets of buyers fueling a hot M&A environment for specialized managing general ...
Japan’s Sompo Holdings Will Sell Sompo Canopius to Centerbridge for $952M
Japan's Sompo Holdings Inc. announced it has agreed to sell Lloyd's re/insurer Sompo Canopius AG to a private equity consortium led by Centerbridge Partners for $952 million. On completion of the ...
Allianz Expands in Africa With Planned Nigeria Acquisition
Allianz has agreed to snatch up a Nigerian insurer in a move that gives it a greater foothold in Africa. The German insurance giant said it has signed a binding agreement to buy 98 percent of ...
Novae Shareholders Approve AXIS Capital’s $611.5M Bid
AXIS Capital Holdings Ltd.'s planned $611.5 million acquisition of Novae Group plc will be going through. AXIS, a Bermuda-based specialty insurer, disclosed that Novae's shareholders on Aug. 29 cast ...
Looking Back: How the Top 25 P/C Insurers Changed in the 25 Years Since Andrew
Twenty-five years ago in August, Hurricane Andrew shook up the property/casualty insurance and reinsurance markets, analysts from Assured Research noted in two recent research reports recognizing the ...
AXIS Sweetens Bid for Lloyd’s Specialty Carrier Novae, Now Offering $611.5M
AXIS Capital Holdings Ltd. has substantially sweetened its offer for Novae Group plc, a Lloyd's of London specialty insurer and reinsurer. AXIS, a Bermuda-based specialty insurer and reinsurer, said ...