brookfield reinsurance, argo

Arch Insurance Announces Closing of Acquisition of McNeil & Co. Willis Towers Watson Launches Unique Approach for Mid-Market Clients. Brookfield Reinsurance said on Wednesday that after the merger is completed in the second half of 2023, it will offer Argo shareholders a $30 cash payment, representing a premium of about 7% to the stock's last close. About Brookfield ReinsuranceBrookfield Reinsurance Ltd. (NYSE, TSX: BNRE) operates a leading financial services business providing capital-based solutions to the insurance industry. Brookfield Reinsurance and Argo Group International Holdings announced they have entered into a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in an all-cash transaction valued at approximately $1.1 billion.. As part of the agreement, each issued and outstanding Argo common share will be . The proposed transaction is subject to risks and uncertainties and factors that could cause Argos and Brookfield Reinsurances actual results to differ, possibly materially, from those in the specific projections, goals, assumptions and statements herein including, but not limited to: (i) that Argo and Brookfield Reinsurance may be unable to complete the proposed transaction because, among other reasons, conditions to the closing of the proposed transaction may not be satisfied or waived, including the failure to obtain Argo shareholder approval for the proposed transaction or that a governmental authority may prohibit, delay or refuse to grant approval for the consummation of the transaction; (ii) uncertainty as to the timing of completion of the proposed transaction; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; (iv) risks related to disruption of managements attention from Argos or Brookfield Reinsurances ongoing business operations due to the proposed transaction; (v) the effect of the announcement of the proposed transaction on Argos or Brookfield Reinsurances relationships with its clients, employees, operating results and business generally; and (vi) the outcome of any legal proceedings to the extent initiated against Argo or Brookfield Reinsurance or others following the announcement of the proposed transaction, as well as Argo or Brookfield Reinsurance managements response to any of the aforementioned factors. Argo intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the Private Securities Litigation Reform Act of 1995. (NYSE/TSX: BN). The merger is expected to close in the second half of 2023, subject to approval by Argo shareholders and other closing conditions customary for a transaction of this type, including receipt of insurance regulatory approvals in relevant jurisdictions and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Email: andrew.hersom@argogroupus.com, Gregory Charpentier Asset managers and private equity firms have also served as a conduit for publicly traded companies to exit the stock market when few others are willing to do deals, as companies prioritize cost cuts over mergers and acquisitions. You may obtain free copies of these documents as described in the preceding paragraph filed with, or furnished to, the SEC. We also use them to share usage information with our partners. Any forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by Argo will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Argo or its business or operations. Information regarding Brookfield Reinsurances directors and executive officers is contained in Brookfield Reinsurances Form 20-F filed on March 23, 2022. Brookfield Reinsurance announces US$1.1 billion mega deal to acquire The first step to growing your wealth is protecting the wealth you have. This website uses cookies to improve your experience. We help provide sophisticated case design, point-of-sale assistance in the areas of Estate, Business, and Pension Planning. Please go to the link in the email message to retrieve your password. Paris le-de-France destination - official website | VisitParisRegion Argo will file the final vote results, as certified by the independent Inspector of Election, on a. Brookfield Asset Management's reinsurance unit agreed to buy out insurer Argo Group International for $1.1 billion. In February, Brookfield Reinsurance also signed a $1.1 billion deal to take Argo Group International private. multi-user price options, or to check if your company has an existing subscription, Argo shareholders greenlight $1.1bn merger Brookfield Re, Brookfield Reinsurance to buy Argo in $1.1bn deal, Argo will face new shareholder rebellion at pending AGM, Wake-up call: higher cat losses a warning, say reinsurance execs in 2016 look back, ArgoGlobal, a Lloyds insurer and Argo Group member, hires Helen Donegan, ESG a make or break factor in M&A in 2023, Coalition rolls out new AI model for US brokers and businesses, Top set: post-M&A RSA hails new outperformance mindset, Market hangover: the impact of 2022 on trends this year, SiriusPoint appoints ex-QBE/Berkshire/Liberty executive to leadership, Aon beefs up reinsurance unit in strategic move for large insurers, Vantage beefs up board with ex-PwC/AIG/Goldman Sachs leaders, Allianz powers up renewable, green tech push with new global role, Fidelis trims price, sells more shares to reach IPO goal. Brookfield Asset Managements reinsurance unit agreed to buy out insurer Argo Group International for $1.1 billion, as the Canadian firm seeks to expand its presence in the US property and casualty insurance market. Tel: (978) 387-4150 References to additional information about Argo and Brookfield Reinsurance have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Search by coverage or keyword and region and start getting quotes immediately. Brookfield Properties Retail Tenant Insurance Program Its affordable. No paperwork to track down. Stay up-to-date on all things insurance. BROOKFIELD, NEWS, Feb. 08, 2023 -- Brookfield Reinsurance and Argo Group International Holdings, Ltd. today announced they have entered into a definitive merger agreement whereby. Rachel Dalton February 08, 2023 Argo Group is to be acquired by Brookfield Reinsurance in an all cash-transaction valued at around $1.1bn, the companies have announced. Sachin Shah, CEO of Brookfield Reinsurance, said the acquisition of Argo represents another milestone in the firms continued expansion. Brookfield Reinsurance's expansion continues with $1.1bn Argo Or find and follow Reinsurance News on social media. Lockton Affinity adheres to the following Privacy Policy rev. Any forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by Argo will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Argo or its business or operations. Are you concerned about the unintentional risk of Reverse Discrimination and its effects on your clients Key Executives? For Live Access 24/7 on the status of your insurance cases Click Here referenz. Looking for Term Quotes for your client? Brookfield Reinsurance (TSXV:NRE) and Argo Group International Holdings, Ltd. have signed a definitive merger agreement of US$1.1 billion. The Brookfield Properties Retail Insurance Program was designed to meet 100% of the Brookfield Properties lease or license agreement liability insurance requirements for Brookfield Properties tenants. Our robust platform enables agents to quickly contact you and begin the underwriting, quoting, and submission process. For more information, please visit our website at bnre.brookfield.com. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein or elsewhere, including the risk factors included in Argos most recent Annual Report on Form 10-K and Form 10-K/A, and Quarterly Report on Form 10-Q, Brookfield Reinsurances Form 20-F and other documents of Argo or Brookfield Reinsurance on file with, or furnished to, the SEC. Argo and Brookfield Reinsurance expect to complete the Merger in the second half of 2023. Francien et franais de Paris par Anthony Lodge, in Linx (2012) Vers une histoire du dialecte urbain de Paris, in Revue de linguistique romane (1998) L'utilisation du patois parisien comme niveau de langue dans la littrature franaise au XVIIe sicle, par Pierre Gondret, in Cahiers de l'Association . Only email is mandatory, but the more you tell us about yourself the better we can serve you in future. Ardea Partners and J.P. Morgan . Brookfield Reinsurance has announced its pending acquisition of specialty underwriter Argo Group International Holdings (Argo) in an all-cash transaction valued at approximately US$1.1 billion (911.4 million). Brookfield Reinsurance to Acquire Argo in $1.1 Billion Transaction Goldman Sachs & Co. LLC is serving as financial advisor andSkadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor toArgoon this transaction. Receive twice daily emails from Intelligent Insurer with all the latest industry news. Today's top 397 Remote Job jobs in Paris, le-de-France, France. This field is for validation purposes and should be left unchanged. Brookfield Reinsurance Ltd. (NYSE, TSX: BNRE) operates a leading financial services business providing capital-based solutions to the insurance industry. Login or create a forever free account to read this news. Its easy. Brookfield Reinsurance Arm Offers to Buy American Equity in $4.3 Our insurance brokerage firm was created with the mindset that we would help professional advisors solve their clients insurance problems. Brookfield Reinsurance, already set for a $1.1 billion cash purchase of Argo Group, has now set its eyes on annuity provider American Equity Investment Life (AEL) and placed a $3.41 billion bid for the roughly 80% it does not own. A more complete description will be available in the proxy statement on Schedule 14A that will be filed with the SEC in connection with the proposed transaction. Source: Reuters | Published on February 8, 2023. Financial services firm Brookfield Reinsurance announced it has entered a definitive agreement to acquire Argo Group International Holdings in an all-cash transaction valued at approximately $1.1 billion. Argos leading US specialty platform adds a foundational piece to our expanding US P&C operations. The transaction is not subject to any financing condition or contingency. Bermuda-based specialty P&C insurer Argo has announced that its shareholders have voted to approve an agreement for the company to be acquired by Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry. Connecting People with Insurance Problems to People with Insurance Solutions. A potential lawsuit can come from just about anywhere when you run a retail business. Under the terms of the merger agreement, Argo has agreed to suspend the payment of dividends on its common shares through the closing of the transaction. As part of the agreement, each issued and outstanding Argo common share will be converted into the right to receive $30 in cash at the closing of the merger, funded by existing cash on hand and liquidity available to Brookfield Reinsurance. Following the original announced, Argos Executive Chairman and CEO Thomas Bradley noted that the agreement with Brookfield Reinsurance brings a successful conclusion to Argos strategic alternatives review process and represents the best path forward for Argo, our employees and policyholders while also maximizing value for our shareholders.. However, if you need life insurance, and you dont have the cash flow for the large premiums, we can show you how to purchase your life insurance by through your companies profit sharing plan. Goldman Sachs & Co. LLC is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Argo on this transaction. Meanwhile, in October, Blackstone Inc invested $500 million in Resolution Life through a partnership. In connection with the execution of the merger agreement, Voce Capital Management LLC entered into a voting and support agreement whereby Voce Capital Management LLC agreed to vote all of the common shares held by it in favor of the merger and take certain other actions, subject to the terms and conditions of the voting and support agreement. Additional Information about the Proposed Transaction and Where to Find It Financial Market Data powered by QuoteMedia. Argo and its insurance subsidiaries are rated A-’ by Standard and Poor’s. Argo’s insurance subsidiaries are rated A-’ by A.M. Best. This press release may include, and Argo and Brookfield Reinsurance may make related oral, forward-looking statements which reflect Argos or Brookfield Reinsurances current views with respect to future events and financial performance. Sachin Shah, Chief Executive Officer of Brookfield Reinsurance, said, The acquisition ofArgorepresents another milestone in the continued expansion of our insurance solutions business. By providing my email, I consent to receiving investment related electronic messages from Stockhouse. Gia Snape. This press release is not a substitute for the proxy statement or any other document that Argo or Brookfield Reinsurance may file with the SEC. Live too long, Die too Soon, or Get Sick in Between we can help you and your clients with these three unique financial risks they may encounter. PO Box 410679 Feb 8 (Reuters) - Brookfield Asset Management's (BAM.TO) reinsurance unit agreed to take insurer Argo Group International (ARGO.N) private in a $1.1 billion deal, as the Canadian firm. The consideration for the merger per Argo common share represents a 6.7% premium to Argo's closing share price on 7 February. Cookies are used to offer you a better browsing experience and to analyze our traffic. By joining Brookfield Reinsurance, Argo will continue to serve our brokers with greater financial strength and opportunities to grow as a US-focused specialty insurer.. For further information regarding the definitive merger agreement, please see Argo’s current report on Form 8-K, which will be filed with the U.S. Securities and Exchange Commission (the SEC”) and will contain a summary of the material terms and conditions of the merger agreement, as well as a copy of the merger agreement. Each of Brookfield Reinsurances and Argos boards of directors unanimously approved the merger agreement. Brookfield Reinsurance to Acquire Argo in $1.1 Billion Transaction by Globe Newswire February 8, 2023 8:29 AM | 8 min read BROOKFIELD, NEWS, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Brookfield. Reach the largest reinsurance audience. In February, Brookfield Reinsurance signed a $1.1 billion deal to take Argo Group International private. This General Liability Insurance protects you from those expenses. More information on Argo and its subsidiaries is available at www.argogroup.com. We use cookies to improve this site and enable full functionality. Under the terms of the merger agreement, Argo has agreed to suspend the payment of dividends on its common shares through the closing of the transaction. Argos leading US specialty platform adds a foundational piece to our expanding US P&C operations. For further information regarding the definitive merger agreement, please see Argos current report on Form 8-K, which will be filed with theU.S. Securities and Exchange Commission (the SEC)and will contain a summary of the material terms and conditions of the merger agreement, as well as a copy of the merger agreement. You're now just minutes away from getting all the liability insurance your Brookfield Properties or license agreement requires. (RTTNews) - Brookfield Reinsurance (BNRE) and Argo Group International Holdings, Ltd. (ARGO) Wednesday announced a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in an all-cash transaction valued at approximately $1.1 billion. Argo Group To Be Acquired by Brookfield Reinsurance February 9, 2023 Skadden is representing Argo Group International Holdings, Ltd. in its $1.1 billion acquisition by Brookfield Reinsurance Ltd. The merger consideration perArgo common sharerepresents a6.7% premium toArgosclosingshare price on February 7, 2023, and a48.7% premium overArgosclosingshare price on September 7, 2022, the last full trading day prior to Argo announcing the sale of Argo Underwriting Agency Limited and its Lloyds Syndicate 1200 and the continuation of its strategic alternatives review process. By default, joining or signing in using your Facebook account will work and the email address will be shared by Facebook automatically. Leverage your professional network, and get hired. Argo offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses. Argo intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the Private Securities Litigation Reform Act of 1995. Home; . Argo Group To Be Acquired by Brookfield Reinsurance We offer insurance agents and financial advisors one-stop access to a broad spectrum of wholesale insurance products and services from a large selection of insurance carriers. If you change your Facebook permissions to restrict Stockhouse from receiving your email while joining or signing in to Stockhouse then it will fail. Argo provides casualty insurance in the United States to the manufacturing and service sectors. Brookfield Reinsurance acquires Argo Group in US$1.1 billion mega deal Find the perfect market for your risk. Each class A exchangeable limited. Brookfield Reinsurance Ltd.; Argo Group International Holdings, Ltd. Sri Lanka's parliament to vote on debt restructuring plan amid economic crisis, Cambodia's Hun Sen kicks off campaign for virtually unopposed election, Chinese military delegation visited UK, France - ministry, Iowa auditor says new law will restrict his office's access to information, Japan says Russian warships spotted near Taiwan, Okinawa islands. Brookfield Reinsurance moves from Argo buy to $3.4bn AEL take-over bid Each of Brookfield Reinsurance’s and Argo’s boards of directors unanimously approved the merger agreement. Brookfield Reinsurance To Acquire Argo In $1.1 Bln Cash Deal

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