M&A
Investors count cost of Omega’s fall from grace
21 May 2012
Long-term investors, including some of the largest hitters in the London market, will be among the biggest losers from Canopius' recommended cash bid valuing the company at £164mn… Read more
Read more articles from this issueIAG looks to recoup after £800mn UK car crash
21 May 2012
Insurance Australia Group (IAG) has sunk around £800mn into Lloyd's insurer Equity Redstar and the rest of its UK operations since 2006 and will be looking to recoup as much of this sum as possible from the recently announced sale process… Read more
Read more articles from this issueSale of BP Marsh stake values Hyperion at £165mn
21 May 2012
The sale of 1.2 million Hyperion shares by BP Marsh & Co Ltd has valued the international broking and managing general agency group at £165mn… Read more
Read more articles from this issueOmega scales back in liability
21 May 2012
Omega Syndicate 958 scaled back the amount of third-party liability business that it wrote by almost a third in the first quarter of 2012 after a reserve strengthening exercise last year dragged the segment to a significant loss… Read more
Read more articles from this issueAM Best affirmation distracts from Flagstone M&A silence
21 May 2012
Flagstone shareholders will have to wait even longer for an official word on the long-rumoured M&A process, after the company conducted an annual general meeting (AGM) in Switzerland without making a statement on the subject… Read more
Read more articles from this issueFormer Ariel Holdings CFO takes Atrium chairman role
21 May 2012
Rick Lutenski, CFO of Ariel Holdings prior to the deal with Goldman Sachs, has been appointed chairman of Lloyd's insurer Atrium Underwriting Group, The Insurance Insider can reveal… Read more
Read more articles from this issueIAG puts 'for sale' sign on loss struck UK business
17 May 2012
Australian insurer IAG is considering selling its UK business as part of a strategic review of its underperforming unit, which has been ravaged by the challenging conditions of the UK motor market… Read more
Read more articles from this issueFour major shareholders behind irrevocable undertakings over Omega takeover bid
14 May 2012
Four major institutional shareholders, led by UK fund manager heavyweight Invesco Asset Management, have given irrevocable undertakings to Canopius regarding its recommended bid of 67p per share for fellow Lloyd's insurer Omega… Read more
Read more articles from this issueRival Transatlantic Re suitors debate takeover saga
14 May 2012
The potentially thorny subject of the 2011 tussle for Transatlantic Re surfaced at the M&A panel at the InsiderScope New York conference last week as three of the rival bidders appeared on the same platform in public… Read more
Read more articles from this issueCheap money and PE interest driving broker valuations to new highs
14 May 2012
The valuation of brokers and other (re)insurance service providers has climbed to highs not seen since the 2008-09 banking crisis, fuelled by private equity (PE) interest and a ready supply of leveraged finance in the US… Read more
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