The Goldman Sachs Group and Ariel Holdings Ltd announced that Ariel Holdings has completed the sale of Ariel Reinsurance’s Bermuda-based insurance and reinsurance operations to Goldman Sachs, pursuant to the Acquisition Agreement announced on March 1, 2012.
The purchase price of the transaction was not disclosed.
In a related transaction Ariel Holdings also agreed to sell its credit and surety reinsurance business, which is based in Europe, to Arch Capital (See related article).
The bulletin said the “acquired business is being combined with Goldman Sachs’ existing business underwritten through Lloyd’s Syndicate 1910 and will operate as part of Goldman Sachs Reinsurance Group (GSRG), under the brand name of Ariel Reinsurance (or Ariel Re).”
Source: Goldman Sachs Group and Ariel Holdings
Was this article valuable?
Here are more articles you may enjoy.
Fire Destroys Miami Heat Coach’s $6.5M Home in Coral Gables 
Cyberattack Cripples Asahi Operations, Lifts Rival Brewers 
Former Lloyd’s CEO Neal Will Not Join AIG; Hancock to Be General Insurance CEO 
AI Is Writing Performance Reviews. What Could Go Wrong? 
