AIRROC Update

Insurance & Reinsurance News

Transaction Notices

American Financial Group, Inc. Announces Agreement to Sell Run-off Lloyd’s-based Insurer, Neon

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CINCINNATI--(BUSINESS WIRE)--Sep. 28, 2020-- American Financial Group, Inc. (NYSE: AFG) today announced that it has reached a definitive agreement to sell GAI Holding Bermuda and its subsidiaries, comprising the legal entities that own its Lloyd’s of London insurer, Neon, to RiverStone Holdings Limited (“RiverStone”). Upon closing of the sale, AFG expects release of all of its … [Read more...] about American Financial Group, Inc. Announces Agreement to Sell Run-off Lloyd’s-based Insurer, Neon

White Mountains Significantly Expand Capitalization of Ark Insurance Holdings; Will Acquire Majority Interest

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HAMILTON, Bermuda, Oct. 1, 2020 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) announced today that it has entered into a definitive agreement to invest fresh capital in and to acquire a majority interest in Ark Insurance Holdings Ltd, the ultimate parent company of Ark Syndicate Management Limited. Ark is a leading Lloyd's platform well positioned to take … [Read more...] about White Mountains Significantly Expand Capitalization of Ark Insurance Holdings; Will Acquire Majority Interest

Aon and Willis Towers Watson Announce Shareholder Approval of Proposed Combination

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DUBLIN, Aug. 26, 2020 -- Aon plc (“Aon”) (NYSE: AON) and Willis Towers Watson Public Limited Company (“Willis Towers Watson”) (NASDAQ: WLTW) today announced that their respective shareholders voted FOR all proposals at their respective extraordinary general meetings and at the special meeting of Willis Towers Watson shareholders ordered by the High Court of Ireland. Aon and … [Read more...] about Aon and Willis Towers Watson Announce Shareholder Approval of Proposed Combination

DARAG Completes Loss Portfolio Transfer Transaction with Hallmark Financial Services

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DARAG has completed the Hallmark Financial Services transaction and the acquisition of a Bermuda class 3A reinsurance company. 13 August 2020 – DARAG, a leading legacy acquirer, today announced its North American division, DARAG North America, has closed the loss portfolio transfer transaction with Hallmark Financial Services within its newly established cornerstone North … [Read more...] about DARAG Completes Loss Portfolio Transfer Transaction with Hallmark Financial Services

Randall & Quilter Announces Completion of Anglo French Ltd. Transfer

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Randall & Quilter subsidiary R&Q Gamma has completed the transfer of the U.S. liability insurance book underwritten by Anglo French Ltd. from SCOR UK Company Limited.  The transaction took place by means of an insurance business transfer scheme under Part VII of the Financial Services and Markets Act 2000. The Part VII was sanctioned at a hearing on 3 March 2020 and … [Read more...] about Randall & Quilter Announces Completion of Anglo French Ltd. Transfer

DARAG Announces Completion of Dual Acquisitions in UK Expansion

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DARAG Transaction Group Limited, a leading legacy acquirer, has announced the completion of the acquisitions of both The  Underwriter Insurance Company  Limited, a UK-based insurer in run-off, and of the previously announced Sale and Purchase Agreement with One Re Ltd, a London-based non-life reinsurance company. Read the full article here - … [Read more...] about DARAG Announces Completion of Dual Acquisitions in UK Expansion

Run-off Specialist Fleming Re Acquires AggCap II

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Fleming Re Holdings LLC (“Fleming Re”) recently completed the acquisition of AggCap Insurance, Ltd – AggCap II (“AggCap II”), a group captive in run-off providing workers compensation insurance for a large membership of California-based agribusinesses.  The acquisition provides members of AggCap II with full legal finality, elimination of operating expenses, and a release of … [Read more...] about Run-off Specialist Fleming Re Acquires AggCap II

Darag Announces Reinsurance Agreement with Lloyds Syndicate

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15 January 2020 – DARAG Group Limited (“DARAG”), a leading legacy acquirer, today announces the conclusion of a transaction with a leading Lloyd’s syndicate to provide reinsurance for a US liability book. The reinsurance will be provided via DARAG’s Maltese risk carrier, DARAG Malta Insurance and Reinsurance PCC Ltd. Read the full article here - … [Read more...] about Darag Announces Reinsurance Agreement with Lloyds Syndicate

Proposed Transfer from Ageas Insurance Limited to RiverStone Insurance (UK) Limited

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Please see the link below to view notice of a proposed insurance business transfer from Ageas Insurance Limited (“Ageas”) to RiverStone Insurance (UK) Limited. The business to be transferred comprises certain insurance and reinsurance business written or assumed by Ageas or its predecessors, including business written by or on behalf of Bishopsgate Insurance Limited and … [Read more...] about Proposed Transfer from Ageas Insurance Limited to RiverStone Insurance (UK) Limited

Proposed Transfer from Aioi Nissay Dowa Insurance Company, Ltd. to RiverStone Insurance (UK) Limited

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Please see the link below to view notice of a proposed insurance business transfer involving Aioi Nissay Dowa Insurance Company, Ltd. (“ADI”) (as regards certain reinsurance contracts which are administered in the UK by or on behalf of ADI, acting through its UK branch) and RiverStone Insurance (UK) Limited. Please click the link for further information on the … [Read more...] about Proposed Transfer from Aioi Nissay Dowa Insurance Company, Ltd. to RiverStone Insurance (UK) Limited

Notice of Proposed Transfer of Certain Legacy Insurance Business

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Please see the link and letter below to view information about the proposed transfer of insurance business from Royal & Sun Alliance Insurance plc (RSAI) and The Marine Insurance Company Limited (MIC) to Mercantile Indemnity Company Limited (Mercantile) under Part VII of the Financial Services and Markets Act 2000 (the Transfer). Further information, is available … [Read more...] about Notice of Proposed Transfer of Certain Legacy Insurance Business

AXA Insurance UK plc – RiverStone Insurance (UK) Limited

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Please see the link below to view notice of a proposed insurance business transfer involving RiverStone Insurance Limited (formerly known as Brit Insurance Limited) and RiverStone Insurance (UK) Limited.  AXA Insurance UK plc – RiverStone Insurance (UK) Limited Please see the link below to view notice of a proposed insurance business transfer involving AXA … [Read more...] about AXA Insurance UK plc – RiverStone Insurance (UK) Limited

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