M&A

The acquisition is the largest component of a $986mn deal struck in November.

The executive said consolidation produced “immense powerhouses of data and intellect”, but reduced options for clients.

The creation of a single Bermuda reinsurance company removes a key structural impediment to a sale.

S&P’s baseline scenario assumes AIG opts for an IPO of its life business and The Hartford stays independent.

The acquisitive broker looks to compete with PE houses through its new platform.

This week, we revealed that Aon/Willis Towers Watson are looking to separately divest a block of Willis' European businesses and Willis Re, as they work to get their mega merger approved by regulators in the face of competition concerns.

It is understood that the ~$300mn fac business will be packaged along with the treaty unit.

The largest of the businesses, Gras Savoye, has been seen as one of the jewels in the crown at Willis.

Canadian carrier Intact is to issue C$250mn ($198.5mn) of subordinated debt in order to fund its takeover, with Danish insurer Tryg, of RSA.

The one-time suitor releases a statement after a report that Allianz is contemplating an offer of its own.

The German carrier is reportedly wary of Chubb’s bidding firepower because of the lack of synergies any takeover would yield.

The potential disposal may help to alleviate competition concerns within the French market.