Loading...
Loading...
  • Bloomberglast year

    Tax-Dodge Scrutiny in U.S. Repels Bidders From Bermuda Takeovers

    The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory filings that potential suitors backed away last year because of risks tied to taxes. Senator Ron Wyden pressed in June to crack down on the use of reinsurers as tax shelters for hedge-fund investors and managers.

  • Zackslast year

    Citigroup to Divest Prime Re Unit: Exits Reinsurance Market? - Analyst Blog

    Citigroup Inc. (C), in a bid to restructure and simplify its business, is reportedly focusing on divesting its reinsurance unit. According to a Bloomberg report, the banking giant is considering the sale of its Burlington-based subsidiary, Prime Reinsurance Co. ('Prime Re').

  • Zackslast year

    Montpelier Up After Agreeing to Endurance Buyout for $1.83B - Analyst Blog

    Montpelier Re Holdings Ltd. (MRH) will be acquired by Endurance Specialty Holdings Ltd. (ENH) in a cash-stock consideration of $1.83 billion.