A.M. Best said it has placed under review with negative implications the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of ACP Re Ltd., based in Hamilton, Bermuda and 10 of its reinsured …
After months of uncertainty, the merger of ACP Re Ltd. and struggling reinsurer Tower Group International has finally closed. Bermuda-based ACP Re and Tower announced on Sept. 12 that all regulatory approvals were in place relating to ACP Re’s acquisition …
Tower Group International Ltd., which is in the process of being acquired by ACP Re Ltd., reported that it had received a letter, dated Aug. 28, 2014, from the Securities and Exchange Commission (SEC) stating that the SEC is conducting …
Tower Group International Ltd., the insurer that agreed to be bought by ACP Re Ltd., plunged to a record low amid doubts over whether the deal will be completed. Tower declined 19 percent to $1.65 at 9:52 a.m. yesterday in …
Tower Group International Ltd., the insurer that agreed to be bought by ACP Re Ltd. amid a stock plunge, hired Greenhill & Co. to provide advice on repaying debt if the takeover collapses. Tower hired the bank as the Massachusetts …
