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Darag to join legacy bulls with capital raise
Germany-based run-off buyer Darag has confirmed its intention to raise equity capital to fund its acquisition plans.
25 June 2012
Talanx latest to defer IPO plans
German insurer Talanx was the latest insurer to defer its IPO last week as the euro crisis troubled the markets.
25 June 2012
White Mountains adds to legacy portfolio
White Mountains Insurance Group's specialist legacy acquisition unit has added to its portfolio with a deal to buy two PICO Holdings subsidiaries for $17mn, adding to its recent hot streak of legacy deal making.
25 June 2012
Capital focus to boost legacy sector
The travails of the capital markets and historically low investment returns are concentrating the wider (re)insurance industry on the value that can be unlocked by legacy solutions, a panel of senior legacy professionals has said.
25 June 2012
Legacy market continues to look to Europe for growth
Despite recent growth in legacy market M&A, the market is still expected to spin around the dual axes of Europe and Solvency II in the years ahead.
25 June 2012
Groupama UK arm stresses independence as S&P downgrades
The up-for-sale UK arm of Groupama has been at pains to stress its independence after ratings agency Standard and Poor's (S&P) downgraded the long-term insurer financial strength and issuer credit ratings of France-headquartered parent company Groupama by two notches from BBB-to BB.
25 June 2012
RSA to run off Czech subsidiary
RSA has placed a Czech motor insurance subsidiary into run-off, which will add a £10mn restructuring charge to the group's half-year result.
25 June 2012
Non-PIIGS insurers threatened by disorderly ‘Grexit’: Fitch
Insurers in non-peripheral Eurozone countries could face downgrades if a Greek exit from the euro was handled badly, Fitch has warned.
25 June 2012
Enstar has $450mn of firepower for legacy deals
Legacy giant Enstar has suggested it has $300mn of cash as well as $150mn of deal-specific debt financing readily available to fund further acquisitions.
25 June 2012
Alterra puts $75mn into New Point V
Bermudian (re)insurer Alterra Capital holds about a 35 percent stake in its latest New Point retro sidecar, according to a filing made by the company.
25 June 2012
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