Hints and tips:
...Tata is suing for £7.9m, which includes the remainder plus interest and £1.3m for insurance liabilities....
...This is not Onex’s first foray into insurance — it has also backed Ryan Specialty and York Risk Services....
...Japan’s Sompo, which bought Bermuda-based Endurance for $6.3bn in 2016, has just reshuffled the management of its international business....
...Although it can alleviate the symptoms somewhat, my recent experiences of private health insurance, travelling abroad and trying to work have been a test of endurance....
...The company submitted its claim to a group of insurers led by Zurich and Liberty Specialty Markets....
...Richard Dudley, chief executive of Aon’s wholesale and specialty insurance broking business, said: “We are very supportive of what [Mr Neal] is doing....
...Aspen rejected a bid from rival Endurance in 2014, which valued the company at $3.2bn. Apollo has a record in the property & casualty insurance industry....
...Rival non-life insurer Sompo Holdings also paid $6.3bn for Bermuda-based Endurance in 2016....
...Nomura, the country’s largest brokerage, sold its insurance unit Asahi Fire & Marine Insurance to ecommerce group Rakuten in January as it focuses on expanding its investment banking business in the US....
...Canopius was created through a management buyout in 2003 and has grown to become one of the top 10 syndicates in the Lloyds insurance market....
...Hiscox, the specialty insurer, said on Monday that it forecasts claims of about $150m resulting from Hurricane Harvey that devastated Houston, Texas last month....
...Andreas van Embden, an analyst at Peel Hunt, says: “For Axis it makes sense to diversify from reinsurance to specialty insurance, and it makes sense to do that at Lloyd’s, where it is small....
...The acquisition is fully aligned with Axis’s international specialty insurance growth strategy and will combine two highly complementary businesses, substantially enhancing our depth and breadth of product...
...Insurance buyers are also wary of the market. “There is sometimes a view that cyber insurance doesn’t work,” said Sarah Stephens, head of cyber at insurance broker JLT Specialty....
...Sompo Holdings, one of Japan’s biggest insurers, is to acquire Bermuda-based rival Endurance Specialty Holdings for $6.3bn, the latest in a string of overseas acquisitions by Japanese companies bolstered...
...On Wednesday Sompo Holdings, the Japanese insurer, said it will buy Endurance Specialty Holdings for $6.3bn in cash....
...Liberty Mutual Insurance said on Monday that it plans to buy Ironshore, a specialty insurer, from Chinese conglomerate Fosun International for about $3bn....
...While Mr Karasawa’s company was absorbing Amiln, Tokio Marine paid $7.5bn for HCC in the US last year while Sompo Holdings agreed to acquire Bermuda-based rival Endurance Specialty Holdings for $6.3bn last...
...It will be the second largest insurance deal of 2016 after Sompo’s $6.3bn acquisition of Bermuda-based Endurance in October....
...Duncan Fraser, senior partner at insurance broker JLT Specialty, says the number of companies buying disgrace insurance has risen by at least 30 per cent in the past three years....
...But the market would appear to agree with him regarding prominent “roll-ups” such as Platform Specialty Products and Nomad Foods....
...The takeover battle comes as insurance dealmaking heats up....
...Examples include XL’s purchase of UK-listed Catlin for £2.8bn, Endurance’s acquisition of Montpelier Re for $1.8bn and RenaissanceRe’s deal to buy Platinum Underwriters for $2bn....
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