On June 12 of this year, New York-based Transatlantic Holdings Inc. and Swiss-based Allied World Assurance Co. Holdings announce a $3.2 billion merger deal that executives say will create a global specialty insurer and reinsurer operating in 18 countries on six continents.
The new company, to be called “TransAllied,” would manage $8.5 billion in total capital, according to Robert Orlich, president and CEO of Transatlantic.
The transaction is structured as a merger of equals, with shareholders of Transatlantic receiving 0.88 Allied World common shares for each Transatlantic common share held. Following the merger, Transatlantic shareholders would own approximately 58 percent of the combined company, with Allied World shareholders owning roughly 42 percent.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
