XL Group Plc agreed to sell about 290,000 life insurance policies at a loss to Reinsurance Group of America Inc. as Chief Executive Officer Mike McGavick narrows his company’s focus to property & casualty coverage after buying Catlin Group Ltd. …
Dublin-headquartered XL Group reported third quarter operating net income of $70.8 million, or $0.23 per share, down from $187.1 million, or $0.70 per share, in the prior year quarter. The current quarter’s results include approximately $55.2 million in integration costs …
The waiting list for an insurer to get a spot on the underwriting floor of Lloyd’s of London is the longest in its 327-year history, indicating record demand for access to the market. Lloyd’s has requests for about 160 so-called …
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., Lancashire Holdings Ltd. and Novae Group Plc all rallied …
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 surged. The Tokyo-based company’s Mitsui Sumitomo Insurance Co. unit …
Amlin plc Chief Executive Officer Charles Philipps damped speculation that the Lloyd’s of London insurer is looking for a buyer, saying the firm is strong enough to remain independent. “We are not for sale, we are not running a sale …
A rare insurance deal gave Borussia Dortmund, Germany’s only publicly traded soccer club, a financial boost even as the team had its worst performance in the Bundesliga championship in seven years. Dortmund finished seventh in the league, failing to qualify …
XL Group plc, the insurer that acquired Catlin Group Ltd., named Citigroup Inc. veteran Eugene McQuade as chairman as the company prepares for increased regulatory scrutiny. McQuade, a director since 2004, replaces Robert Glauber, who had been chairman since 2009 …
AXIS Capital Holdings Ltd., seeking to complete a merger with PartnerRe, is highlighting the prospects for growth of a combined company. AXIS projects the post-merger market valuation will reach a level akin to those of other insurers targeted in recent …
Following the completion of XL Group plc’s acquisition of Bermuda-based Catlin Group Limited on May 1, XL and Catlin have officially joined operations and launched a new brand, XL Catlin. A new global marketing campaign, reflecting the greater scale, ambition …
