Allied World News

Allied World Europe Launches UK Commercial Division

Allied World Assurance Co. Holdings AG has announced the launch of its UK Commercial Division. “Our clients tell us they need simple, affordable and flexible insurance solutions and our UK Commercial Division delivers just that — one application for a …

Soft Reinsurance Prices to Continue Until Year-End – at Least: Fitch

The soft pricing in the global reinsurance market will continue, at least, for the rest of the year, Fitch Ratings says. Fitch expects premium rates to continue declining as a result of large amounts of under-deployed capital and sluggish demand …

Allied World Expands Accounts Receivable Coverage, Adds Carson to Chicago Office

Allied World Assurance Company Holdings, has expanded its Accounts Receivable Insurance coverage to make it available in 49 states and Washington, D.C. The coverage is designed for chief financial officers and other senior financial executives to help mitigate the risk …

Allied World to Offer Drone Loss Control Services to Policyholders

Allied World North America has expanded its risk management offerings to policyholders to include access to discounted unmanned aerial systems (UAS) services through DataWing, a UAS service provider led by former U.S. Air Force fighter pilots that provides end-to-end options …

Fairfax Financial to Pay More Cash, Less Stock, for Allied World

Toronto-based insurance group Fairfax Financial Holdings Ltd. said it would increase the cash component of its offer to buy Allied World Assurance Co. Holdings AG by $18 per share. The increase in the cash component of the offer would reduce …

Allied World Launches 3 Professional Liability Products in Australia

Allied World Assurance Co. Holdings AG announced it has launched three new professional liability products in Australia: Directors and Officers Liability Insurance, Architects and Engineers Professional Indemnity Insurance, and Miscellaneous Professional Indemnity Insurance. The Miscellaneous Professional Indemnity Insurance products is …

Canada Pension Fund OMERS to Invest $1B in Fairfax’s Allied World Purchase

Ontario Municipal Employees Retirement System agreed to invest $1 billion to back the $4.8 billion acquisition by Prem Watsa’s Fairfax Financial Holdings Ltd. of insurer Allied World Assurance Co. The investment will give OMERS a 21 percent stake in Allied …

Canada Pension Fund to Commit $1B to Fairfax’s Deal with Allied: Sources

Prem Watsa’s Fairfax Financial Holdings Ltd. is close to announcing a deal that would see one of Canada’s largest pension funds contribute $1 billion in financing toward its acquisition of insurer Allied World Assurance Co., according to people familiar with …

Fairfax in Talks to Sell 25% of India’s ICICI Lombard, Worth Up to $1B

Fairfax Financial Holdings is in early talks to sell 25 percent of India’s largest private general insurer ICICI Lombard in a deal that could fetch up to $1 billion, as the Canadian firm looks to cash out and start a …

Fairfax 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 World Assurance Co., according to a person familiar …