A.M. Best Co. has commented that the issuer credit rating (ICR) and debt ratings of Tower Group, Inc. (TWGP), as well as the financial strength rating and ICRs of its insurance subsidiaries are unchanged. Best made the announcement following TWGP’s …
Tower Group announced that it has committed to invest $75 million (based on the current exchange rate) in Canopius Group, Ltd., a privately owned Lloyd’s insurance holding company domiciled in Guernsey, Channel Islands. “Canopius’ principal business is insurance and reinsurance …
Lloyds of London insurer Canopius said it has agreed to buy rival Lloyd’s insurer Omega after raising its offer to £164 million ($265.6 million) in a recommended cash deal. Canopius said on Wednesday it will pay 67 pence [$1.085] per …
A.M. Best Europe – Rating Services Ltd. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 958, which is managed by Omega Underwriting Agents Limited. The outlook for both …
Insurance entrepreneur Mark Byrne pulled ahead in the race to buy Lloyd’s of London insurer Omega after Omega and its top shareholder backed his offer, prompting his main rival to withdraw. Omega, at the centre of a three-way takeover battle …
A.M. Best Europe – Rating Services Ltd. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of ‘a+’ of Lloyd’s Syndicate 958, which is managed by Omega Underwriting Agents Limited. The outlook for both …
Lloyd’s Novae Group plc announced that it has informed the advisers of Omega Insurance, another Lloyd’s insurer that it “has withdrawn from merger discussions.” Novae said it has “concluded that it is unlikely a transaction can be structured at this …
A.M. Best Europe – Rating Services Limited has placed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bermuda-based Omega Specialty Insurance Company Limited (OSIL) and the ICR of “bbb” of Omega Insurance …
