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AmTrust: The Winners and Losers

2018-06-22T15:25:00+01:00

After weeks of wrangling and looming uncertainty about whether or not it would get over the line, AmTrust’s CEO and his wife’s family have finally won out in their bid to take the firm private in a $2.95bn deal with Stone Point which has faced substantial opposition from activist and ...

Canada wildfires 2016

PG&E pegs California wildfire insurance recoveries at $375mn

2018-06-22T08:59:00+01:00

California public utility company PG&E has said it hopes to recover around $375mn from its insurers over damage caused during a spate of wildfires in the state in the second half of last year.

Miami from the bridge

BMS tells its LatAm brokers to keep client savings as a ‘professional fee’

2018-06-21T13:48:00+01:00

The CEO of broker BMS has told his staff in Latin America to hold on to savings they achieve for their clients and book the revenue as a “professional fee”, an internal memo obtained by re-Insurance.com reveals.

Am trust financial home hero photo rev

AmTrust shareholders approve Stone Point go-private deal

2018-06-21T15:34:00+01:00

AmTrust investors have given their assent to the company’s $14.75 per share go-private deal with Stone Point, putting an end to long-running shareholder opposition to the proposed deal tabled by the firm’s CEO, his wife’s family and their backers.

Harvey

Allstate suffers $224mn of cat losses in May

2018-06-21T13:24:00+01:00

US carrier Allstate was hit with $224mn of catastrophe losses in May mainly stemming from a serious of severe wind and hail events.

Freeway

Californian commercial auto specialist Topa weighs potential sale

2018-06-20T17:52:00+01:00

Topa Insurance Group, a commercial-auto heavy California-based specialty insurer, has appointed boutique investment bank Dowling Hales as it eyes a potential sale, re-Insurance.com understands.

Snip20180622_2

AmTrust: The Winners and Losers

2018-06-22T15:25:00+01:00By

After weeks of wrangling and looming uncertainty about whether or not it would get over the line, AmTrust’s CEO and his wife’s family have finally won out in their bid to take the firm private in a $2.95bn deal with Stone Point which has faced substantial opposition from activist and ...

Am trust financial home hero photo rev

AmTrust shareholders approve Stone Point go-private deal

2018-06-21T15:34:00+01:00By

AmTrust investors have given their assent to the company’s $14.75 per share go-private deal with Stone Point, putting an end to long-running shareholder opposition to the proposed deal tabled by the firm’s CEO, his wife’s family and their backers.

Munich, skyline

Munich Re mulling asset management arm sale: report

2018-06-21T08:17:00+01:00By

Munich Re is considering selling off its asset management unit to US industry giant Guggenheim, according to reports. 

Freeway

Californian commercial auto specialist Topa weighs potential sale

2018-06-20T17:52:00+01:00By

Topa Insurance Group, a commercial-auto heavy California-based specialty insurer, has appointed boutique investment bank Dowling Hales as it eyes a potential sale, re-Insurance.com understands.

Okane-Aspen

Aspen CEO O’Kane relocates to Bermuda

2018-05-23T13:06:00+01:00By

Chris O’Kane, the CEO of (re)insurance group Aspen, is relocating to Bermuda ahead of the potential sale of the company which could accrue him millions of dollars as part of an exit package.