Paying for Premiums: Tokio Marine purchases Pure Group in $3.1bn deal

Tokio Marine Holdings Inc [TKOMY: TYO] – Market Cap as of 18/10/2019: $36.95bn (¥4.05tn) Introduction Tokio Marine, Japan’s largest non-life insurance company, has agreed to acquire Pure Group: a US-based insurance group majority-owned by private equity players KKR and Stone Point. The deal, valuing Pure Group at $3.1bn, is expected to be funded by a […]

The end of offshore insurers’ loopholes: Axa to acquire XL Group for $15bn in cash

XL Group Ltd (NYSE:XL) – market cap as of 09/03/2018: $14.4bn Axa SA (EPA:CS) – market cap as of 09/03/2018: €54.5bn Introduction On the March 5, 2018, the French insurer Axa announced its intention to buy 100% of Bermuda-based XL Group, which also operates in the insurance industry, for $57.6/share. The implied valuation of Bermuda’s […]