Operations/tech
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The leader of Gallagher’s wholesale arm also stressed that he is undeterred by the scale of the Big Three after recent M&A. -
The German carrier is reportedly wary of Chubb’s bidding firepower because of the lack of synergies any takeover would yield.
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The potential disposal may help to alleviate competition concerns within the French market.
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The pair will depart after around a decade with the carrier.
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The deal places a $17.5bn enterprise value on the business which had only $38mn of revenues in 2013.
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The insurer said the attack impacted certain CNA systems, including corporate email.
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The management liability platform is supported by Evanston Insurance, a Markel company.
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In a letter to shareholders, the insurance group’s special committee said the deal represents ‘compelling value’ to FBL’s unaffiliated shareholders.
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The Tiptree subsidiary aims to raise $100mn.
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The company said adjustments to a previously reported loss related to ceded losses and commissions stemming from a quota share treaty with a captive reinsurer.
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Written comments should be submitted by email by 3 May and the draft methodology is available online.
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The board says each business should be individually responsible for managing the associated risks and opportunities.
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