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One of the options for up-for-sale Montpelier Re may be to sell its Lloyd's business as a standalone unit and restructure the remainder as a fund manager, sources told sister title The Insurance Insider.
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Shares in Bermudian reinsurer Montpelier Re rose by over 4 percent in early trading on the New York Stock Exchange, as sister publication The Insurance Insider broke the news that the property cat specialist had been put up for sale by its board
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Cat specialist and third party capital manager RenaissanceRe has agreed to buy Bermudian peer Platinum for $1.9bn in a cash-and-stock deal, the company said.
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Reinsurance executives Joe King and Enda McDonnell are set to take on co-CEO roles at Florida and Texas insurer Cypress Insurance Holdings after they agreed a deal to buy out the firm with other investors, sister publication The Insurance Insider reported.
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Lloyd's (re)insurer Amlin has agreed on a deal to lift its stake in Leadenhall Capital Partners from 40 percent to 75 percent, six years after it helped launch the firm.
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Citrus Re sponsor Heritage Insurance Holdings is set to take on the $60mn portfolio of business previously written by failed Floridian insurer Sunshine State Insurance Company (SSIC), after 10 companies put in bids for the portfolio
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Endurance has refinanced its second bid for Aspen, replacing plans for an equity investment from private equity company CVC with a $1.0bn bridging loan facility from Morgan Stanley, as it increased its offer from $47.50 per share to $49.50 per share.
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London-headquartered private equity fund CVC Capital is backing Endurance's $3.2bn hostile bid for Aspen
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United Insurance Holdings expects to buy fellow Floridian insurer Sunshine State Insurance Company (SSIC) and will inject capital to restore the latter's Demotech rating.
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Bermudian start-up vehicle GreyCastle Holdings, whose backers include large family offices and university endowments, has agreed to buy XL Group's life reinsurance business for $570mn in cash.
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Aspen Insurance Holdings has launched a wide-ranging attack on Endurance's $3.2bn bid to acquire the Bermudian (re)insurer, arguing that the pairing would be a "strategic mismatch".
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London-headquartered private equity fund CVC Capital is backing Endurance's bid for its Bermudian peer Aspen, the (re)insurer said as it confirmed details of its $3.2bn cash-and-shares offer.
