Tag: insurance acquisition

Insurance news from Atlas includes acquisition of Gateway

H. Cutner
insurance industry report

The deal has been signed to close the agreement for the expansion into the American public auto market. Atlas Financial Holdings, Inc. has made insurance news with its announcement that it has now signed a definitive agreement to acquire Camelot Services, Inc., as well as its sole insurance subsidiary of Gateway. The acquisition was announced to have been for around $23 million. The final closure of the insurance news transaction is still subject to the typical conditions, such as the regulatory approval of Gateway Insurance Company’s change of control. It…

Read More

Japanese Tokio Marine will acquire American Delphi Financial Group

H. Cutner

The second biggest casualty insurance company in Japan, Tokio Marine is purchasing the American company Delphi Financial Services, which is based in Delaware. The acquisition will be for $2.7 billion, which places a valuation on the company which has a 73 percent premium, indicating that Asian companies may be taking their first steps into the U.S. marketplace as a diversification effort, following the disasters that have struck their own local markets. This acquisition is one of the five largest insurance purchases this year and is easily among the biggest ventures…

Read More