Category: M&A

Sompo International completes acquisition of Lexon Surety Group

Bermudian property and casualty (P/C) re/insurer Sompo International Holdings (SI) has acquired Lexon Surety Group (Lexon), the second largest independent surety insurer in the United States. Lexon is comprised of Lexon Insurance Company, Bond Safeguard Insurance Company and Fortress National Group. The acquisition is expected to positively impact the...

American Family Insurance and The Main Street America Group pursue merger

MADISON, Wis. & JACKSONVILLE, Fla.–(BUSINESS WIRE)–May 4, 2018–Madison, Wisconsin-based American Family Insurance group and Florida-based The Main Street America Group will pursue a merger, the companies announced today. Approved by the companies’ boards of directors, the merger will improve diversity of risk, promote growth through geographic expansion and provide...

AXA acquires XL Group in $15.3bn deal

French insurer AXA is acquiring Bermuda-based property/casualty commercial lines re/insurer XL Group for $15.3 billion (€12.4 billion) in cash. The price represents a premium of 33 percent to XL Group closing share price on March 2, 2018. The move will shift AXA’s business profile from L&S (life & savings)...

RSA Canada agrees to transition its Canadian Surety Business to Trisura

Toronto, Oct. 30, 2017 — Trisura Group Ltd.(“Trisura”) and RSA Canada (“RSA”) are pleased to announce the transition of RSA’s contract and commercial surety business in Canada to Trisura Guarantee Insurance Company (“Trisura Guarantee”). RSA’s Canadian surety portfolio consist of approximately 450 contract and commercial surety accounts with annual...

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