M&A
Tower Group Hires Greenhill to Advise on Debt Repayment If Merger Deal Fails
Tower Group International Ltd., the insurer that agreed to be bought by ACP Re Ltd. amid a stock plunge, hired Greenhill & Co. to provide advice on repaying debt if the takeover collapses. Tower ...
Aspen, Still in Endurance’s Sights, Touts Growth and Investor Value
Aspen Insurance Holdings continues as Endurance Specialty Holdings' hotly coveted takeover target. In the meantime, the Bermuda reinsurance and insurance player made its case to investors that it is ...
United Insurance Seeks Better Spread in Florida by Acquiring Sunshine State Insurance
United Insurance Holdings Corp. (UPC) announced Thursday that the company has entered into a non-binding letter of intent to acquire 100 percent of Sunshine State Insurance Company (SSIC), a Florida ...
Tower Group Rejects Offer From Eastern European Insurer
Tower Group International's board of directors unanimously rejected a surprise acquisition bid submitted earlier this week from an Eastern European Insurer, choosing instead to focus on an ongoing ...
Troubled Tower Ends Relationship with PwC; Fitch Announces Downgrade, Rating Withdrawal
Tower Group International has fired PricewaterhouseCoopers as its accounting firm, six months after announcing it would restate previously filed financial statements for 2011 and 2012 due to ...
Tower Group Fields Unsolicited Offer From Eastern European Insurer
An Eastern European insurer based in countries including Romania, Bulgaria and Macedonia submitted a surprise bid to snatch up Tower Group International, an unexpected wrinkle in Tower's increasingly ...
Motorists Mutual to Acquire Southeast, Midwest Insurer
Ohio-based Motorists Mutual Insurance Co. has agreed to buy the stock of Consumers Insurance USA, which is based in Murfreesboro, Tenn. Consumers Insurance will become a wholly owned subsidiary of ...
A.M. Best Slashes Tower’s Financial Strength Ratings
Bad news for Tower Group International and its subsidiaries: A.M. Best has downgraded the insurer's financial strength ratings, as the carrier works through the steps of a planned merger with ACP Re. ...