logo
Share SHARE
FONT-SIZE Plus   Neg

Hannover Re To Buy UK Holding Company Argenta Holdings

German re-insurer Hannover Re AG (HVRRY.PK,HVRRF.PK) said that it has reached an agreement to acquire the UK holding company Argenta Holdings plc, which owns the companies Argenta Syndicate Management and Argenta Private Capital as well as a pro rata share of the Lloyd's syndicate Argenta Syndicate 2121. The
parties have agreed to maintain confidentiality regarding the purchase
price.

The transaction is expected to close in the third quarter subject to all
necessary approvals.

In the 2016 financial year Syndicate 2121 booked gross premium of GBP 280
million. Hannover Re intends to support Argenta on its envisaged growth
trajectory.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT