Announced
Financials
Tags
reinsurance business
Cross Border
Disposal
Single Bidder
Pending
Private Equity
Bermuda
Private
Friendly
Reinsurance
Majority
Acquisition
Synopsis
Private equity firms Pelican Ventures and J.C. Flowers agreed to acquire Ariel Re, a reinsurance business, from Argo, an underwriter of specialty insurance and reinsurance products. Financial terms were not disclosed. "Ariel Re is well known in the reinsurance market, and we are confident the business will thrive as part of Pelican Ventures," Kevin J. Rehnberg, Argo CEO.
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