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Fosun trumps Apollo to acquire Portuguese insurer CGD
Fosun, the Chinese investment conglomerate that models itself on Berkshire Hathaway, has won the drawn-out auction to acquire the insurance business of Portuguese state-owned bank Caixa Geral de Depositós.
13 January 2014
American Financial workers’ comp deal is ‘opportunistic’ play: KBW
AFG has agreed to buy Summit Holdings Southeast from Liberty Mutual in a deal that shows the US insurer opportunistically taking advantage of dislocations in the market
13 January 2014
Aviation treaty softening intensifies at 1.1
Rate softening intensified at the 1 January aviation treaty renewals, but cedants are still seeing primary rate reductions significantly outpace the drop-off in their outwards spend, further squeezing their diminishing returns.
13 January 2014
AJ Gallagher in advanced Oval acquisition talks
AJ Gallagher's swift march to the top table of UK broking has continued, with the London-headquartered firm in exclusive talks to acquire the UK consolidator Oval for £180mn+
13 January 2014
Duperreault appeal draws Weill to Hamilton
The Brian Duperreault-led transformation of SAC Re - now Hamilton Re - has continued with the high profile addition of former Citigroup head Sandy Weill as chairman of the Bermudian's holding company.
13 January 2014
Tower shares languish well short of offer price
Tower Group's share price has drifted downwards over the past week, implying less than complete confidence in the market that the complex ACP Re takeover deal will close
13 January 2014
Endurance takes primary casualty team from Aspen
Endurance Specialty has hired Rich Aldorisio and Mark Fuderanan along with a team of US casualty insurance executives from rival Bermudian Aspen Insurance as it continues to build out its US platform
13 January 2014
Digest
Ace unveils Thai deal; White Mountains acquires; Dual appoints; Summit spends; Rates falter; Willis buys; Simple claims; Tower challenge; Lloyd's deputy; AG Doré appoints; Marsh buys; Lonmar director; Marketform hires; Crawford reshuffle; BIBA Chairman; Zurich appoints
13 January 2014
Aqua creates $2.5bn Caribbean property cat facility
Aqua, the MGA owned by RK Harrison Holdings, has created a mega-Caribbean property facility, The Insurance Insider can reveal.
13 January 2014
Regulation key challenge for London: IUA
The danger of duplicative regulation at a global and national level is a key concern for P&C (re)insurers operating in the London company market, according to trade body the International Underwriting Association of London (IUA).
13 January 2014
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