M&A
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A non-binding term sheet was signed on October 6, whereby the buyer will acquire 100% of Interboro’s issued and outstanding securities in exchange for cash. -
BCCL will be rebranded to Nascent Advisory Services Ltd as part of the transaction.
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The private equity firm is targeting $1trn in assets under management for the combined segment.
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Frontier’s employees, including director and co-founder Peter Brodsky and CEO Derek Winch, will remain in their current roles.
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The two parametric businesses will be brought together as the UK and German governments sell out.
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The vehicle will focus on middle-market transactions in the US and Europe across the insurance value chain.
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The firm has moved to defend its plans against a rival strategy supported by a small group of investors.
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The carrier has agreed to acquire the former Credit Suisse ILS unit, following the acquisition of sister company Humboldt Re in 2021.
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Financials Acquisitions Corp is looking to extend its merger deadline and raise “substantial” extra funds.
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Removing any competitor is a positive for ILS peers in a competitive time for fundraising, but it is not clear how much of a boost this will give RenRe.
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The takeover will push it up two places to rank as the fifth-largest writer of P&C reinsurance by gross premium.
Most Recent
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30 November 2023 -
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30 November 2023