Articles by Greg Roumeliotis and Mike Stone

China’s Anbang Insurance Ups Offer for Starwood Hotels to $14B

China’s Anbang Insurance Group Co. has raised its offer for Starwood Hotels & Resorts Worldwide Inc. to almost $14 billion in its latest challenge to the U.S. hotel operator’s merger with Marriott International Inc. The bidding war for Starwood has …

China Insurer Anbang Offers $6.5 Billion to Buy Major U.S. Hotel Group

China’s Anbang Insurance Group has agreed to acquire Strategic Hotels & Resorts Inc. for around $6.5 billion, as the owner of New York’s iconic Waldorf Astoria expands its U.S. hotel portfolio, a person briefed on the matter said Saturday. The …

AIG Eyes Partial Spinoff of Mortgage Insurance Unit: Reuters

American International Group Inc. has decided to pursue a spin-off of its mortgage insurance business, according to people familiar with the matter, in a move that would come as the U.S. insurer fends off activist investor Carl Icahn. The spin-off …

Willis Weighs Increasing Offer for Towers Watson, Amid Opposition to Deal

Willis Group Holdings is considering increasing its offer for Towers Watson & Co after failing to muster enough shareholder support for its $18 billion merger with the human resources consultancy, a person with knowledge of the matter said. Earlier today, …

Wells Fargo Considers Selling Crop Insurance Unit

Wells Fargo & Co may divest its crop insurance business, one of the biggest in the United States, a spokeswoman told Reuters on Tuesday, as regulatory restrictions on U.S. banks force some to reconsider underwriting insurance policies. Wells Fargo has …

PartnerRe ‘Now Willing’ to Open Talks with EXOR: Sources

PartnerRe Ltd, the reinsurance company that has a $6.6 billion merger agreement with AXIS Capital Holdings, has indicated that it is now willing to negotiate a new deal with rival suitor EXOR, SpA, according to people familiar with the matter. …

Japanese Insurers Eye More Acquisitions in U.S.

Japanese insurers including MS&AD Insurance Group Holdings Inc. and Sompo Japan Nipponkoa Insurance Inc. are seeking mergers with peers in the United States, as a declining population at home forces them to pursue markets that are growing overseas. Prime Minister …

AXIS & PartnerRe Consider Sweetening $6.2B Merger Agreement: Sources

Reinsurers AXIS Capital Holdings Ltd and PartnerRe Ltd are considering tweaking their $6.2 billion merger agreement in a bid to fend off a $6.8 billion offer for PartnerRe by EXOR SpA, people familiar with the matter said. The move would …

AXIS Capital Not Engaged in Buyout Talks with Arch – Sources

AXIS Capital Holdings Ltd. has not communicated with any potential acquirer, including Arch Capital Ltd., since it engaged in merger talks with competitor PartnerRe Ltd last fall, people familiar with the matter said on Thursday. The Financial Times wrote on …

Italy’s EXOR to Consider Increasing $6.4B Offer for PartnerRe: Sources

Italy’s EXOR SpA will consider raising its $6.4 billion offer for reinsurer PartnerRe Ltd at a board meeting on Tuesday, two sources told Reuters. The Italian holding company, controlled by the Agnelli family, made its all-cash offer for PartnerRe in …