FWD Group Withdraws U.S. IPO Plan, Pivoting Instead to Hong Kong December 21, 2021 By Crystal Tse FWD Group Ltd., the Hong Kong-based insurer backed by billionaire Richard Li, withdrew its U.S. initial public offering as China...
Fairfax Completes Sale of Stake in Subsidiary Odyssey Group for US$900M December 16, 2021 Fairfax Financial Holdings Ltd. announced the completion of the previously announced sale of a minority stake in Fairfax’s subsidiary, Odyssey...
Swiss Re-Backed FWD Raises $1.4 Billion, Weighs Hong Kong IPO December 14, 2021 By Manuel Baigorri Billionaire Richard Li’s FWD Group Ltd. raised more than $1.4 billion in private placements with investors including an insurer backed...
Canada’s CPP Investments to Sell Ascot Group, Wilton Re in Strategy U-turn: Sources December 9, 2021 By David French and Chibuike Oguh Canada Pension Plan Investment Board (CPP Investments) is seeking to sell its Wilton Re and Ascot Group insurance platforms, marking...
Ascot Group Launches Bermuda Reinsurer; Berger Appointed CEO November 27, 2017 Ascot Group Ltd. has launched Ascot Reinsurance Co. Ltd., after receiving approval from the Bermuda Monetary Authority (BMA). Ascot Re...
AIG Selling Stake in Ascot Lloyd’s Syndicate; Will Keep Bermuda, Reinsurance Ties September 16, 2016 American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary...
WSJ: AIG May Sell Shares in Lloyd’s Unit Ascot to Canadian Pension Board August 23, 2016 American International Group Inc. is in early talks to sell its minority stake in the Lloyd’s of London syndicate manager...
Allianz Transfers $1.1B of Policy Obligations to Reinsurer Enstar, Limiting US Risks February 18, 2016 By Oliver Suess and Sonali Basak Allianz SE, Europe’s biggest insurer, struck a deal to limit risks in the U.S. by transferring policy obligations to reinsurer...
UBS Hedge Fund to Manage Money for Bermuda Reinsurer Launched by Enstar December 4, 2015 By Sonali Basak UBS O’Connor LLC, the $6 billion hedge-fund unit within Switzerland’s biggest bank, will manage money for a new Bermuda-based reinsurance...
Best Affirms Wilton Re, U.S. Subs Ratings April 25, 2014 A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Wilton...