Canada Pension Plan Investment Board (CPPIB) News

AIG Selling Stake in Ascot Lloyd’s Syndicate; Will Keep Bermuda, Reinsurance Ties

American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board (CPPIB) for $1.1 billion. Total consideration for the deal is …

WSJ: AIG May Sell Shares in Lloyd’s Unit Ascot to Canadian Pension Board

American International Group Inc. is in early talks to sell its minority stake in the Lloyd’s of London syndicate manager Ascot Underwriting Holdings Ltd. to Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported on Tuesday. If the …

Allianz Transfers $1.1B of Policy Obligations to Reinsurer Enstar, Limiting US Risks

Allianz SE, Europe’s biggest insurer, struck a deal to limit risks in the U.S. by transferring policy obligations to reinsurer Enstar Group Ltd. Enstar will assume net reinsurance reserves of about $1.1 billion and cover half of a book of business …

UBS Hedge Fund to Manage Money for Bermuda Reinsurer Launched by Enstar

UBS O’Connor LLC, the $6 billion hedge-fund unit within Switzerland’s biggest bank, will manage money for a new Bermuda-based reinsurance company formed by insurer Enstar Group Ltd. Aligned Re Ltd. is expected to be funded by third-party capital along with investments from …

Best Affirms Wilton Re, U.S. Subs Ratings

A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Wilton Reinsurance Bermuda Ltd., Wilton Reassurance Company, based in Minneapolis, Texas Life Insurance Company, Heritage Union Life Insurance Company, headquartered in …

Canada Pension Plan Board to Buy Wilton Re for $1.8 Billion

The Canada Pension Plan Investment Board (CPPIB) announced that it has agreed to buy U.S. life insurance and reinsurance provider Wilton Re Holdings Ltd for $1.8 billion from a group of private equity firms, the first foray by the global …