Aquiline Capital Partners has agreed to acquire a majority stake in Fort Worth, Texas-based Wellington Insurance Group, an insurance risk distribution company. No financial terms were disclosed.Continue
Genstar Capital and Aquiline Capital Partners have closed their previously announced buy of Ascensus Inc, a provider of retirement and college savings plans. The seller was J.C. Flowers & Co. No financial terms were disclosed.Continue
Worley Claims Services, which is backed by Aquiline Capital Partners, said Thursday it has agreed to buy NCA Group Inc. Financial terms weren’t announced. NCA Group provides daily and catastrophe residential and commercial property claims services throughout North America. StoneRidge Advisors LLC acted as financial advisor to NCA.Continue
Cathay has agreed to acquire Conning from Aquiline Capital Partners for up to $240 million. The deal is expected to be completed in the second half of 2015. Headquartered in Hartford, Conn., Conning is a investment firm focused on the insurance sector.Continue
Aquiline Capital Partners has agreed to buy a majority stake in Worley Claims Services. No financial terms were disclosed. Based in Hammond, Louisiana, Worley, which was backed by Seaport Capital and Advantage Capital, is a provider of insurance-adjustment management and services .Continue
First Read has private equity news: New Silk Route retools management after leadership goes to [...]Continue
It’s been a week since Hurricane Sandy devastated the East Coast and damages could reach as much as $50 billion, according to the New York Times. Losses due to Sandy are still being worked out. If they are $10 billion or less, primary insurers, like Chubb or Allstate or State Farm, will likely pay the brunt of claims, PE sources say. As damages increase, payment will “disproportionately” fall on reinsurers.Continue
Deutsche Bank said Tuesday that it is conducting a review of its global asset management business.
This, of course, means that DB is considering selling its asset management business. A DB spokeswoman says all options are being considered for the business, including a sale or retaining some of the businesses. The review excludes DWS’ franchise in Germany, Europe and Asia. But DWS Americas is part of the review, the DB spokeswoman says.
What else is included –and could be up for grabs –are RREEF Alternatives, DB Advisors and Deutsche Insurance Asset Management.Continue
Aquiline Capital Partners LLC made a $225 million investment in Stamford, Conn.-based CRT Capital Group, which is an institutional broker-dealer. The investment includes funds from CRT’s management.Continue
Aquiline Capital Partners has purchased $35 million worth of common and preferred stock in Bank of North Carolina (Nasdaq: BNCN). The deal gives Aquiline a 9.9% common shareholding, and the conversation possibility of upwards of 15% of all outstanding shares.Continue
Clear2Pay NV, a Brussels-based provider of payment solutions for financial institutions, has raised €50 million in new private equity funding. Aquiline Capital Partners led the round, and was joined by return backers like AGF Management, IRIS Capital, Big Bang Ventures, GIMV and Trust Capital.Continue
Aquiline Capital Partners completed its acquisition of Conning & Co., a Hartford, Conn.-based provider of services and solutions to the insurance market, from Swiss Reinsurance Company Ltd. No financial terms were disclosed. Conning has approximately $70 billion of general account assets under management and $100 billion of total assets under contract.Continue
TigerRisk Partners LLC, a Greenwich, Conn.-based reinsurance broker and risk/capital management advisor, has received an undisclosed amount of private equity funding from Aquiline Capital Partners. TigerRisk is was formed last year by Jim Stanard, co-founder and former CEO of Renaissance Re, and Rod Fox, former CEO of the U.S. operations of Benfield.Continue
Nexar Capital Group has launched as an investment management firm founded by former hedge fund execs at Société Générale. It is being sponsored by an undisclosed amount of funding from Aquiline Capital Partners.Continue
Even if the public markets won’t forgive you, it’s a good bet private equity will.
Take Robert Nardelli, who earned himself plenty of criticism in recent years by the egregious $210 million “golden parachute” he received upon resignation as head of Home Depot. The paycheck earned him a spot as one of the highest-paid executives with the worst-performing companies. He further solidified his public enemy creds as CEO of Chrysler—on his watch, the company’s sales fell 30% last year and 45% in the first quarter of this year, leading, as we all know, to one of the year’s largest bankruptcies.
Yet he still has a career, thanks to private equity. Today Cerberus Capital Management hired him as CEO of its operating and advisory business.Continue
Ken Thompson, former CEO of Wachovia Corp., has joined Aquiline Capital Partners as senior advisor, according to The American Banker. Thompson was ousted from Wachovia last year, and the company was later acquired by Wells Fargo.Continue
Aquiline Capital Partners has acquired Conning & Co., a Hartford, Conn.-based provider of services and solutions to the insurance market, from Swiss Reinsurance Company Ltd. No financial terms were disclosed. Conning has approximately $70 billion of general account assets under management and $100 billion of total assets under contract.Continue
Aquiline Capital Partners, the New York buyout firm which recently hired former Wachovia CEO Ken Thompson, said it now owns a 5.12% stake in BinckBank NV. The shares were acquired at no cost because of a transfer from parent firm JPMorgan Chase as part of a derivative agreement. press release: Aquiline Capital Partners LLC (“Aquiline”), […]Continue