Apollo Global Management News

Enmity Erupts Between Former Private Equity Partners Over Lucrative Insurance Units

Nearly a decade ago, Imran Siddiqui helped engineer a shrewd maneuver for buyout mogul Leon Black’s Apollo Global Management LLC, one that’s yielded many millions for the firm. Then Siddiqui and Apollo parted ways — and the sparks are still …

Run-Off Firm Catalina Raises $700M, Forms Shareholder Restructure with Apollo, RenRe

Catalina Holdings (Bermuda) Ltd., a legacy runoff property and casualty re/insurance specialist, announced it has completed a US$700 million equity capital raise and concluded its shareholder restructuring after receiving regulatory approvals. As a result of this transaction, Apollo Global Management …

Aspen Insurance CEO O’Kane Issues Statement That He Will Step Down in 2019

Chris O’Kane, group chief executive of Aspen Insurance Holdings, issued the following statement to employees that he will step down from his position when Apollo Global Management completes its purchase of Aspen in the first half of 2019. The statement …

Cloutier to Step Down as Brit’s Exec. Chairman, with Plans to Become CEO of Aspen

Brit Ltd. announced that Mark Cloutier will step down from his role as executive chairman of Brit in December 2018. Following his departure, Cloutier will take up a role with an affiliate of Apollo Global Management, LLC, working as a …

Auto Insurance Broker Confie Battles JC Flowers Over Failed Acquisition

It took just 78 days for a deal involving billionaire J. Christopher Flowers to blow up. Confie Seguros Holding II Co., an owner of auto-insurance brokerages that cater to Hispanic drivers with spotty credit, paid $100 million for another brokerage …

Private Equity Firm Apollo to Buy Aspen Insurance for $2.6 Billion

Apollo Global Management LLC, the investment firm led by Leon Black, agreed to acquire Aspen Insurance Holdings Ltd. for $2.6 billion, in the latest example of private equity investors expanding their insurance assets. Apollo will pay $42.75 a share in …

Generali Evaluates Offers for Its $49B German Life Insurance Portfolio: Sources

Athene Holding Ltd. and Viridium Group GmbH submitted binding bids for Assicurazioni Generali SpA’s 40 billion-euro ($49 billion) German life insurance portfolio, according to people with knowledge of the matter. Generali is working with Morgan Stanley to evaluate bids, the …

The Hartford Attracting Bidders for Annuity Runoff Business

Hartford Financial Services Group Inc. is working with JPMorgan Chase & Co. to see if the insurer can find a buyer for Talcott Resolution, the unit that includes U.S. variable annuities, according to people familiar with the matter. Apollo Global …

Xchanging Urges Shareholders to Accept CSC Bid; No Superior Bid Expected

Outsourcing company Xchanging Plc said it did not expect a superior cash offer from Ebix Inc and urged shareholders to accept a bid from U.S.-based Computer Sciences Corp. Insurance software company Ebix had in November made a 450 million pound …

UK’s Xchanging Receives Takeover Bid from Computer Sciences Corp. for $640M

Outsourcing company Xchanging Plc , which has already accepted a takeover offer from Capita Plc, has received a proposal from U.S.-based Computer Sciences Corp., which values the company at about 421 million pounds ($640 million). Shares in Xchanging – which …