Industry News
Germany Pushes Back Against UK Govt. Demands for Financial Firms’ Post-Brexit Access
The European Union won't rush to enhance market access for financial firms outside the bloc, a senior German official said, pushing back against key U.K. government demands in the Brexit ...
French Reinsurer SCOR Turns Back Investor’s $9.6B Takeover Bid, Tickling Shareholders
French reinsurer Scor SE spurned an 8.3-billion-euro ($9.6 billion) unsolicited takeover offer from its biggest shareholder, Covea, which said it's still interested in pursuing a deal. Scor shares ...
Munich Re Will Buy an IoT Startup Focused on Business Clients’ Digital Needs
Munich Re said it will acquire relayr, an Internet of Things-focused software company the reinsurer claimed is valued at $300 million. The acquisition is taking place through Munich Re subsidiary ...
Specialist Broker Verlingue Boosts UK Presence With ICB Group Acquisition
Specialist corporate insurance broker Verlingue said it has acquired independent U.K. broker ICB Group. Financial details of the deal were not released. With the acquisition of Egham, England-based ...
Canopius Partners With MGA Focused on Credit and Political Risk
Canopius announced it has signed a partnership with Anvil Underwriting Ltd., a credit and political risk managing general agent (MGA). The agreement is effective from Sept. 3 and will allow Anvil to ...
PURE Wins A.M. Best Ratings Upgrade
The PURE Group of Insurance Companies won an A.M. Best ratings upgrade, thanks to its strong overall performance. Specifically, A.M. Best upgraded the financial strength rating to "A (Excellent)" ...
Markel’s Plans to Snatch Up Nephila Holdings Will Give It a Dominant ILS Market Stake
Specialty insurer Markel Corp. will acquire Nephila Holdings, a standalone insurance-linked securities manager. Plans call for closing the deal, pending regulatory approvals, in the 2018 fourth ...
Buffett Says Berkshire Bought Back Its Own Shares Along With Boosting Apple Stake
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc , on Thursday said the conglomerate bought back its own stock for the first time since 2012 and added to its already huge stake in ...