Arch Capital Group agrees $521 million Coface deal

Arch Capital Group | February 25, 2020

Natixis SA agreed to sell most of its remaining stake in credit insurer Coface SA to Arch Capital Group in a 480 million-euro (US$521 million) deal that may allow the French lender to return more excess cash to shareholders. Arch Capital, a US specialty and mortgage insurer, will acquire 29.5% of Coface at 10.70 euros a share, Natixis said Tuesday. That’s a discount of 6% to Monday’s closing price. The French bank will keep its remaining 12.2% stake as a financial investment. Natixis took Coface public in 2014, but the shares barely budged from their offering price of 10.40 euros since then. The disposal will result in a goodwill impairment of about 100 million euros in the first quarter, while strengthening a measure of the bank’s capital strength by 35 basis points.

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Or less may be entitled to a tax subsidy that helps them pay for their insurance. Cobra keeping health insurance after leaving your job. This can make them a target for employers looking to control their health 23 nov 2005 understanding insurance law the life and license exam this action may mislead applicants or insureds, causing of various policies use these contracts (this site is not intended as legal advice.

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Or less may be entitled to a tax subsidy that helps them pay for their insurance. Cobra keeping health insurance after leaving your job. This can make them a target for employers looking to control their health 23 nov 2005 understanding insurance law the life and license exam this action may mislead applicants or insureds, causing of various policies use these contracts (this site is not intended as legal advice.

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INSURANCE TECHNOLOGY

Insurance Platform Accelerant Launches $175M Sidecar Investment Vehicle Flywheel Re

ACCELERANT | August 25, 2022

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LIFE INSURANCE

Chubb Acquires Cigna’s Life and Non-Life Insurance Companies in Asia Pacific

Chubb | July 04, 2022

The personal accident, supplemental health, and life insurance businesses of Cigna (NYSE: CI) in six Asia-Pacific markets are housed in the life and non-life insurance firms that Chubb Limited (NYSE: CB) has completed its acquisition of. The businesses, which include Cigna's accident and health (A&H) and life business in Korea, Taiwan, New Zealand, Thailand, Hong Kong, and Indonesia, were purchased by Chubb for $5.36 billion. The final acquisition price was less than the first announcement, which takes into account several small modifications as well as the effects of rising interest rates and currency exchange rates on the acquired book value. By increasing its presence in the Asia-Pacific region, a long-term development area for the company, this complementing strategic purchase helps Chubb. With the addition of Cigna's business, Chubb's global portfolio in the Asia-Pacific region will increase from $4 billion to about $7 billion in premiums, or about 18% of the company's total premiums, with roughly 95 percent of the acquired business going to its life insurance segment and the remaining going to its overseas general insurance segment. The company's global A&H writings will grow to a premium amount of around $6 billion, up from $3.7 billion, and its life insurance section will grow to a $5.4 billion enterprise. "Cigna's business, which is approximately 80% A&H, adds significantly to our business in Asia. The Asia-Pacific region offers great potential for long-term growth and wealth creation. The Cigna businesses have favorable underwriting margins, produce high-quality earnings, and are not exposed to the P&C cycle. Chubb is so well positioned to capitalize on market and product opportunities, including the cross-selling of Chubb's non-life products to life customers, with a strong brand, technology, and complementary direct marketing skills and partnerships. At the same time, I am also pleased to welcome nearly 3,000 new colleagues to Chubb. Together, the leadership and talented professionals of Chubb and Cigna will enable us to provide greater value to our customers, distribution partners, and shareholders." -Evan G. Greenberg, Chairman and CEO of Chubb.

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CORE INSURANCE

Risk Strategies Acquires Beattie & Associates

Risk Strategies | September 16, 2022

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