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The Canadian holding company increased its ownership in the Bermudian carrier to 82.9% from 70.9%. -
Following completion of the deal, Washington and Fairfax will own a majority of the equity of Atlas.
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The activist reduced its position to 3.05% of the insurer from the ~6.6% stake it owned at the end of Q2.
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Inside P&C’s news team runs you through the key M&A deals from the past week.
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The transaction includes the MGA’s underwriting team and renewal rights to the portfolio.
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Inside P&C’s news team runs you through the key M&A deals from the past week.
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The completion of the deal comes after last week the companies received all regulatory approvals.
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Bobman said the board of directors “demonstrated poor judgment” by approving the recruitment of Jessica Snyder as president of Argo’s US insurance division.
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As the MGA market gathers today, cat property capacity looks set to dwindle further as Hurricane Ian exacerbates pre-existing challenges.
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Berkshire Hathaway and Alleghany have received regulatory approvals to close the $11.6bn deal announced earlier this year.
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Let’s get you up to speed on some of this week’s key M&A deals.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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