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ACP Re completes Tower Group acquisition
ACP Re, the Bermuda reinsurer owned by AmTrust Financial Services, has completed its acquisition of beleaguered insurer Tower Group International.
Tower shareholders approve ACP Re deal
A massive 98.5 percent of insurer Tower Group’s shareholders have approved its takeover by ACP Re, the Bermuda reinsurer owned by AmTrust Financial Services.
Greenhill provides debt advice to Tower
Tower Group has hired bank Greenhill & Co to provide advice on repaying debt if the takeover by ACP Re collapses.
Tower Group receives bid from European insurer
Insurer Tower Group has received a competing bid from Euroins Insurance Group (EIG), a South East European insurer which represents a 50 percent premium on the offer from AmTrust.
New reserve charge prompts downgrades for Tower
Troubled insurer Tower Group and its subsidiaries have been downgraded by AM Best following its recent disclosure of a new $63 million reserve charge in its delayed results covering the fourth quarter of 2013.
Tower Group and ACP Re amend deal
Beleaguered insurer Tower Group and ACP Re, the Bermuda reinsurer owned by AmTrust Financial Services, have amended their merger agreement to reduce the consideration by $0.50 per share to $2.50.
AmTrust restructures role in Tower takeover
AmTrust Financial Services and National General have scrapped plans to buy part of Tower Group’s US domiciled insurance companies as part of ACP Re’s proposed takeover.
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Showing 1 to 7 of 7 results
