August 1, 2011
Reinsurer Validus Holdings Ltd . Sunday urged target Transatlantic Holdings Inc to enter into discussions over its proposed takeover and said its offer is superior to one from Allied World Assurance Co. Validus offered to buy Transatlantic earlier in July …
July 29, 2011
There seems to be a slight divergence of views between Validus Holdings and Allied World over the current status of their respective efforts to acquire Transatlantic Holdings, Inc. Following Transatlantic’s decision to reject its latest offer, and to file a …
July 28, 2011
Reinsurer Validus Holdings Ltd missed second-quarter expectations, as underwriting income fell sharply and the company posted losses from the record-setting U.S. tornadoes of April and May. Validus is in the middle of a bidding war for competitor Transatlantic Holdings, having …
July 25, 2011
Bermuda-based reinsurer Validus Holdings took its $3.2 billion offer to buy Transatlantic Holdings, Inc. directly to shareholders on Monday, after rejecting its rival’s conditions for merger talks. It was the second time in two years that Validus launched a hostile …
July 20, 2011
In dueling press releases both Allied World Assurance and Validus Holdings reaffirmed their respective positions in their competing efforts to acquire the outstanding shares of Transatlantic Holdings, Inc. Bermuda-based Validus noted that it had “delivered to the Board of Directors …
July 15, 2011
Standard & Poor’s Ratings Services has said that its “ratings on Validus Holdings Ltd. (BBB/Stable/–) remain unchanged following the insurance company’s unsolicited offer to combine with Transatlantic Holdings Inc. (BBB+/Watch Pos/–) in response to the definitive merger agreement between Transatlantic …
July 12, 2011
Validus Holdings Ltd offered to buy reinsurer Transatlantic Holdings Inc for about $3.5 billion in cash and stock, trumping Allied World Assurance Co Holdings’ all-stock offer. Validus offered 1.5564 in shares and a special dividend of $8 in cash for …
June 14, 2011
A.M. Best Co. has commented that the ratings of the subsidiaries of Swiss-based Allied World Assurance Company Holdings, AG and New York-based Transatlantic Holdings, Inc. and its subsidiaries, are unchanged following the announcement of a definitive agreement to merge. Best …
April 7, 2011
Transatlantic Holdings (TRH) announced that it expects to incur total net catastrophe costs (net of reinstatement premiums and reinsurance) in the first quarter of 2011 of approximately $355 million, net of tax, based on its preliminary assessment of the impact …