British general insurer RSA is considering acquisitions in the order of 600 million pounds ($1 billion) and may fund any deal by selling new shares, analysts at broker Keefe, Bruyette & Woods said on Tuesday. RSA executives told a KBW conference on Monday the group was mulling bigger takeovers than the ‘bolt-on’ acquisitions it has traditionally pursued, and named Latin America and Canada as areas of potential interest, KBW analysts said in a note. RSA, best known in Britain for its More Than car and home insurance business, was... Lire la suite
Warren Buffett’s Berkshire Hathaway Inc. is willing to sell more insurance for natural disasters after pulling back on catastrophe coverage earlier this year when excess capital became tight. Berkshire loosened self-imposed curbs after the Omaha, Nebraska-based company said last week it returned to profitability in the second quarter. Buffett and his insurance lieutenant, Ajit Jain, may still be constrained by falling prices for catastrophe coverage, the firm said in a filing. Buffett said in 2007 he was willing to lose as much as $6 billion in... Lire la suite
U.K. insurer Aviva PLC is in talks to sell two office buildings in Singapore for about S$100 million, two people familiar with the situation said Friday. A joint venture between developers Yi Kai Group and Fission Group is trying to buy the buildings, one of which is 60% occupied by Aviva’s Singapore operations, one person said. Negotiations are ongoing. The properties are next to each other and are located in the downtown area. One of the people said the insurer is also trying to sell two office floors in another property that it leases to... Lire la suite
Belgium-based Fortis has emerged as leader of the pack of insurers vying for the contract to manage Tesco’s motor and home insurance businesses. According to the Telegraph, Fortis is in ‘advanced’ talks to agree an insurance partnership with the UK’s largest retailer. Tesco admitted earlier this week that it is reviewing its long-standing insurance arrangement with the part-nationalised Royal Bank of Scotland. RBS partnered with Tesco in the late 1990’s to set up Tesco’s motor and travel insurance businesses. Until last year, when Tesco... Lire la suite
This part is under construction and will be available soon. Regards, The News-insurances Team Read More →
