Bermuda’s Overseas Partners Ltd. (OPL) announced that it had completed the acquisition of Reliance Re agreed upon last June. It plans to rename the company Overseas partners US reinsurance Company, and to maintain its Philadelphia headquarters, and most of Reliance’s management.
AXA subsidiary, Alliance Capital, also announced that the $3.5 billion acquisition of fund manager Sanford C. Bernstein Inc. had been completed.
The combined companies will have $470 billion of assets under management which will generate an estimated $3 billion in income. It employs 4000 people serving 2600 institutional accounts and 15,000 private clients, and has over 6.1 million “worldwide mutual fund shareholder accounts.”
Was this article valuable?
Here are more articles you may enjoy.
Progressive Insurance Helps First-Time Homebuyers With Down Payments 
Hedge Funds Make Their Move as Litigation Finance Assets Slump 
Root Inc. Opens 2026 With Best Quarterly Net Income Ever at Nearly $36M 
Ex-NFL Player Sentenced to 16 Years in Prison for $200M Medicare Fraud Scheme 
