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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

News InsuranceLegislation / RegulationMergers and AqcuisitionsReinsurance

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

News InsuranceMarkets / Coverages

Federal bill aiming to ‘promote greater shareholder democracy’ tabled in Senate

June 23, 2017 by Canadian Underwriter

A bill proposing to give shareholders the option, under the Canada Business Corporations Act, to vote against corporate directors rather than merely withholding votes – and to abolish bearer shares – was tabled Wednesday in the Senate. Bill C-25 “makes

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProductsReinsurance

Intact to acquire U.S. specialty insurer OneBeacon Insurance Group for US$1.7 billion

May 3, 2017 by Canadian Underwriter

Intact Financial Corporation has announced that it intends to acquire OneBeacon Insurance Group, Ltd., a specialty insurer in the United States, for US$1.7 billion. Intact declared on Tuesday that it has entered into a definitive agreement and plan of merger

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Court of Appeal for Ontario clears way for misrepresentation lawsuit against directors and officers arising from take-over bid circulars

August 23, 2016 by Canadian Underwriter

Shareholders alleging that an offeror made a misrepresentation in a take-over bid circular can – in Ontario – sue both the offeror and the offeror’s directors and signatories personally, rather than having to choose to sue one or the other,