In two announcements, AmTrust Financial Services said it would acquire renewals rights for Tower Group International’s commercial lines business for $125 million, and Tower said it entered into a $172 million merger agreement with Bermuda reinsurer ACP Re Ltd. The …
Turkey holds strategic significance for insurer Mapfre in its plans to expand into East Europe and the Middle East, the chairman of the company said in remarks in Istanbul. Antonio Huertas confirmed his company’s long-term commitment to Turkey and the …
Auto lender Ally Financial, which is 74 percent-owned by the U.S. government, will sell its Mexican insurance business to insurance and reinsurance company ACE Ltd for $865 million in cash as it looks to focus on its U.S. operations. Ally, …
