BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
Hanover, New Hampshire-based White Mountains Insurance Group Ltd. on Monday said it has sold its property/casualty reinsurance and insurance unit Sirius International Insurance Group Ltd. to CM International Holding Pte. Ltd. for about $2.24 billion.
CM International Holding is the Singapore-based investment arm of Beijing-based China Minsheng Investment Corp. Ltd.
The deal, which is subject to regulatory approval, is expected to close within the next six months.
Sirius writes property/casualty reinsurance and insurance via several channels, including Lloyd's of London syndicate 1945, Sirius International Insurance Corp., Sirius America Insurance Co. and Sirius Bermuda Insurance Co. Ltd.
Sirius also provides exit solutions for runoff business via a subsidiary, White Mountains Solutions Inc.
Sirius will become the reinsurance arm of CMI, White Mountains said a statement.
“The Sirius management team is excited to be joining the CMI family. CMI is strongly capitalized and intends to further grow Sirius' already substantial capital base,” Allan Waters, CEO of Sirius, said in the statement. “China is one of Sirius' most important markets, and CMI is the perfect partner for Sirius to continue its Asian growth strategy.”
Anthem Inc.'s purchase of Cigna Corp.—the biggest deal, by far, in the health insurance industry — poses rewards and risks for employers, health care benefits experts say.