Brit Gains in London as Premiums Rose 4.5% in First Half
Brit Plc, a Lloyd’s of London insurer, posted a 4.5 percent increase in premiums and said it would pay its first dividend following its initial public offering in March. The shares gained. Premiums...
View ArticleBrit Launches Cyber Product for Critical Infrastructure, Industrial Machinery
Brit PLC, a global specialty insurer and reinsurer, has developed an insurance service to protect companies operating critical infrastructure and industrial machinery from terrorist and other malicious...
View ArticleCanada’s Fairfax to Acquire London-Based Brit for $1.88 Billion
Fairfax Financial Holdings, the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit plc for some $1.88 billion to become one of the top five...
View ArticleFairfax to Sell Shares for Brit Acquisition to Protect Credit Rating
Fairfax Financial Holdings Ltd.’s Prem Watsa, who said this week that issuing stock was one of his last options for financing the purchase of Brit plc, opted days later to sell shares and guard his...
View ArticleBrit Chief Says Excess Capital Will Spark More Mergers & Acquisitions
Brit plc Chief Executive Officer Mark Cloutier said an excess of insurance industry capital will force more executives to sell or merge their companies. Cloutier said Brit’s planned $1.88 billion sale...
View ArticleFairfax Financial to Benefit From its Acquisition of Brit plc: Moody’s Report
The proposed acquisition of Brit plc by Fairfax Financial Holdings is “credit positive” for Fairfax, according to Moody’s, which noted that the deal will significantly boost Fairfax’s underwriting...
View ArticleEXOR Shuns Hedge Fund Strategy With $6.4 Billion Buyout Plan of PartnerRe
The Agnelli family’s EXOR SpA, known for investments in cars and soccer, is dismissing the prevailing reinsurance strategies as it seeks to push into the industry with a $6.4 billion takeover. EXOR is...
View ArticleXL CEO: ‘Reinsurance Sector Littered With Roadkill’, Playing High Stakes Game
XL Group plc Chief Executive Officer Mike McGavick said that while he shuns casinos unless he’s with his mother-in-law, he’s felt lately like he was sitting at a “high stakes table” as he made...
View ArticleLancashire’s CEO Maloney Dismisses Value of Merger with Larger Rival
Lancashire Holdings Ltd. Chief Executive Officer Alex Maloney dismissed suggestions the insurer would be better off combining with a larger competitor. “I don’t really buy the bigger is better thing,”...
View ArticleBrit Reports H1 After-Tax Profit of US$6.4M, Compared to $94.5m in 2014
London-based Brit plc, which completed its merger with Fairfax Financial Holdings in the first half of this year, reported operating profit before foreign exchange and transaction related expenses of...
View ArticleS&P: Reinsurance M&A Will Be Driven by Berkshire Hathaway Model
Reinsurance M&A activity should continue well into 2016 as competitive pressures continue unabated, Standard & Poor’s said in a new report. The ratings firm said that the Berkshire Hathaways of...
View ArticleMitsui Sumitomo to Buy Amlin for $5.3B, Latest in Japanese Overseas Deals
MS&AD Insurance Group Holdings Inc. agreed to buy Lloyd’s of London insurer Amlin plc for about 3.47 billion pounds ($5.3 billion), joining an overseas deal spree by Japanese peers. Amlin shares...
View ArticleAmlin Deal Puts M&A Spotlight on 4 Remaining Publicly Traded Lloyd’s Insurers
Amlin Plc’s $5.3 billion takeover by a Japanese competitor has put the remaining four publicly traded Lloyd’s of London insurers in the spotlight for a possible takeover. Beazley Plc, Hiscox Ltd.,...
View ArticleFairfax in Talks with OMERS to Help Finance $4.9B Allied World Takeover: Source
Prem Watsa’s Fairfax Financial Holdings Ltd. is in talks with the Ontario Municipal Employees Retirement System (OMERS) to see if the pension fund will help finance his $4.9 billion takeover of Allied...
View ArticleBrit Gains in London as Premiums Rose 4.5% in First Half
Brit Plc, a Lloyd’s of London insurer, posted a 4.5 percent increase in premiums and said it would pay its first dividend following its initial public offering in March. The shares gained. Premiums...
View ArticleBrit Launches Cyber Product for Critical Infrastructure, Industrial Machinery
Brit PLC, a global specialty insurer and reinsurer, has developed an insurance service to protect companies operating critical infrastructure and industrial machinery from terrorist and other malicious...
View ArticleCanada’s Fairfax to Acquire London-Based Brit for $1.88 Billion
Fairfax Financial Holdings, the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit plc for some $1.88 billion to become one of the top five...
View ArticleFairfax to Sell Shares for Brit Acquisition to Protect Credit Rating
Fairfax Financial Holdings Ltd.’s Prem Watsa, who said this week that issuing stock was one of his last options for financing the purchase of Brit plc, opted days later to sell shares and guard his...
View ArticleBrit Chief Says Excess Capital Will Spark More Mergers & Acquisitions
Brit plc Chief Executive Officer Mark Cloutier said an excess of insurance industry capital will force more executives to sell or merge their companies. Cloutier said Brit’s planned $1.88 billion sale...
View ArticleFairfax Financial to Benefit From its Acquisition of Brit plc: Moody’s Report
The proposed acquisition of Brit plc by Fairfax Financial Holdings is “credit positive” for Fairfax, according to Moody’s, which noted that the deal will significantly boost Fairfax’s underwriting...
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