Advisory firms Institutional Shareholder Services (ISS) and Egan-Jones Proxy Services have bolstered Aspen’s defence by recommending shareholders reject Endurance’s proposals.
Endurance Specialty has said it is disappointed by the recommendations by a proxy advisory service made yesterday that recommended shareholders in Aspen Insurance reject Endurance’s proposals.
The Indian government has proposed to raise the limit on foreign investment in the country’s insurance sector to 49 percent from 26 percent.
Liberty Mutual’s national accounts property unit has expanded its divisional structure and added five underwriters as it seeks to support its strategy of becoming a lead market for large, complex global property risks.
CNP Assurances has entered into an exclusive long-term distribution agreement with Santander Consumer Finance (Banco Santander Group) and has agreed to acquire a 51 percent stake in Santander Consumer Finance's life and non-life insurance subsidiaries.
HgCapital has acquired Sequel Business Solutions, a software and services provider to the Lloyd’s of London and broader London insurance market, in partnership with the Sequel management team led by managing director, Mario Garcia.
Privately owned Swiss insurer Infrassure has placed itself in run-off. In an announcement, it said it will cease to underwrite any new business.
AXA Investment Managers (AXA IM) has appointed Deborah Shire as head of structured finance. Shire replaces Laurent Gueunier, who after 12 years at AXA IM, has left the company.
Brazil’s largest investment bank has unveiled plans to boost its presence in the global reinsurance industry through the acquisition of Ariel Re, Global Atlantic’s Bermuda-based property/casualty reinsurance company.
Broker Willis has appointed Keith Chapman as regional construction industry leader for the Middle East.