Canadian Underwriter

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Allied World Assurance Company Holdings AG

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Fairfax ‘not oriented’ towards more acquisitions: Watsa

August 10, 2017 by Canadian Underwriter

Officials with Fairfax Financial Holdings Ltd., which recently bought a majority interest in Allied World Assurance Company Holdings AG, “want to look at how” they can “organically expand” the firm’s existing business, chairman Prem Watsa told financial analysts recently. Toronto-based

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Fairfax completes acquisition of Allied World

July 6, 2017 by Canadian Underwriter

Toronto-based Fairfax Financial Holdings Ltd. has completed its acquisition of Allied World Assurance Company Holdings AG, the firms announced Thursday. The deal was valued at nearly $5 billion when it was announced Dec. 18, 2016. All figures are in U.S.

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‘Significantly more’ than 90% of Allied World Assurance shareholders expected to tender stock for Fairfax merger

July 5, 2017 by Canadian Underwriter

Officials with Allied World Assurance Company Holdings AG “fully expect” that all closing conditions for the merger with Toronto-based Fairfax Financial Holdings Limited will be met by Thursday, Allied World suggested in Wednesday in a press release. A deadline, for

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‘All regulatory approvals’ received for Fairfax-Allied World merger but deal still not complete

June 29, 2017 by Canadian Underwriter

Toronto’s Fairfax Financial Holdings Ltd. announced Thursday it now has “all regulatory approvals that are necessary” for it to merge with Swiss insurer and reinsurer Allied World Assurance Company Holdings AG but suggested fewer than 90% of Allied World shareholders

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Fairfax-Allied merger offer expires Friday night

June 28, 2017 by Canadian Underwriter

Shareholders of commercial insurer and reinsurer Allied World Assurance Company Holdings AG are being urged to accept the offer from Toronto-based Fairfax Financial Holdings Limited to buy Allied World shares because the merger agreement initially announced a week before Christmas

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Allied World board members concerned in 2016 with ‘protracted negotiations’ with un-named prospective buyer: SEC filing

May 23, 2017 by Canadian Underwriter

Six months before announcing its proposed acquisition by Toronto-based Fairfax Financial Holdings Ltd., commercial insurer Allied World Assurance Company Holdings AG received an offer letter from an un-named prospective buyer for $48 a share, recently-released documents indicate. Fairfax and Zug,

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PERILS estimates property market loss for Cyclone Debbie at AU$1,116 million

May 9, 2017 by Canadian Underwriter

Tropical Cyclone Debbie – the initial loss estimate for which PERILS AG puts at AU$1,116 million – “underpins the need for reliable natural catastrophe insurance data for Australia,” suggests Darryl Pidcock, head of PERILS Asia-Pacific. Debbie affected the Australian states

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Combined ratio up 3.1 points for Allied World

May 1, 2017 by Canadian Underwriter

Allied World Assurance Company Holdings AG, which is expected to have a new Canadian corporate parent, recently reported a 3.1-point deterioration, year over year, in its first-quarter combined ratio, nearly a month after Cyclone Debbie hit the north shore of

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Fairfax reports 2016 combined ratio for insurance and reinsurance operations of 92.5%

February 17, 2017 by Canadian Underwriter

Toronto-based Fairfax Financial Holdings has released its most recent financial results for the fourth quarter and full-year 2016 ending Dec. 31, reporting a combined ratio for its insurance and reinsurance operations of 92.5% on a consolidated basis. This result produced

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Fairfax proposes to acquire New Zealand insurer Tower for nearly $200 million

February 9, 2017 by Canadian Underwriter

Fairfax Financial Holdings Ltd., the corporate owner of Northbridge Insurance, announced Wednesday it has agreed to buy Auckland-based Tower Limited, which writes property and casualty insurance in New Zealand and nearby nations. Tower’s shareholders, if they approve the deal, would

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Fairfax-Allied World deal among the ‘most noteworthy’ of recent insurance M&A announcements: Willis Re

January 3, 2017 by Canadian Underwriter

The merger agreement between Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG – announced Dec. 18 – reflects “the view that the new U.S. government may provide a more favorable corporate tax environment” and demonstrates “that scale

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Benefits of merging Fairfax and Allied World ‘far outweigh’ overlap in reinsurance: Fairfax Insurance COO

December 19, 2016 by Canadian Underwriter

The merger agreement announced Sunday by Toronto-based Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG will give Fairfax a “rather different profile” of insurance business than it currently owns, but it is not clear what percentage of