Last week, Allied World Assurance Company Holdings, AG and Transatlantic Holdings, Inc. announced a $3.2 billion merger deal that executives say will create a global specialty insurer and reinsurer operating in 18 countries on six continents.
In addition, the "new and vibrant competitor" in the global marketplace, to be known as TransAllied Group Holdings, will manage $8.5 billion in total capital, Robert Orlich, president and CEO of Transatlantic, said on a conference call describing the deal.
The capital figure puts TransAllied behind global giants ACE Limited and XL Group and ahead of PartnerRe, according to a slide that executives of the new entity presented during this morning's call.
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