logo
Share SHARE
FONT-SIZE Plus   Neg

Tower Group Terminates Deal To Buy American Safety Reinsurance - Quick Facts

Tower Group International, Ltd. (TWGP) reported the termination of its prior announced deal to acquire American Safety Reinsurance, Ltd., the Bermuda-based reinsurance unit of American Safety Insurance Holdings, Ltd., from Fairfax Financial Holdings Ltd. Tower said it would receive $5 million in exchange for the termination of such agreement.

Tower Group International is a Bermuda-based global diversified insurance holding company and is listed on the NASDAQ Global Select Market under the symbol TWGP.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
German business software maker SAP AG on Tuesday reported lower profit in its first-quarter mainly due to higher expenses, despite higher revenues. Further, the company reiterated its outlook for fiscal year 2017. Luka Mucic, CFO, said, "We're off to a good start to reach our full year targets and we are confident that we will grow our profitability in 2018 and beyond." Fresenius Kabi announced it has agreed to acquire Akorn (AKRX), a U.S.-based manufacturer and marketer of prescription and over-the-counter pharmaceutical products, for approximately $4.3 billion, or $34.00 a share, plus the assumption of approximately $450 million of debt. Akorn's largest shareholder,... Uber has been reportedly tracking user's phones, even after deleting the app. However, the company now assured that it would not continue with such tracking anymore.
comments powered by Disqus
Follow RTT