For Brookfield Reinsurance, which launched in 2020,the agreement comes less than a year after it completed its acquisition of American Nationalin an all-cash transaction, valued at approximately $5.1 billion. An email was sent with password retrieval instructions. Its easy. Home; . Connecting People with Insurance Problems to People with Insurance Solutions. 86% of retail CFD accounts lose money, Argo Group to join hands with Trisura Group, Argo Group International earnings preview: what Wall Street is expecting, SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CSII, ARGO, SUMO, NUVA, SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ARGO, IAA, MLVF, SHBI, Benzinga's Top Ratings Upgrades, Downgrades For February 28, 2023, Argo Group International Non-GAAP EPS of -$2.69 misses by $1.10, revenue of $383.7M, SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates INDT, ARGO, NUVA, Registration on or use of this site constitutes acceptance of our. Use of this Website constitutes acceptance of our Terms of Use. Under the terms of the merger agreement, Argo has agreed to suspend the payment of dividends on its common shares through the closing of the transaction. Argo provides casualty insurance in the United States to the manufacturing and service sectors. All such documents, when filed or furnished are available free of charge on the SEC’s website (www.sec.gov) or by directing a request to Argo at the Investor Relations contact above. Information regarding Brookfield Reinsurances directors and executive officers is contained in Brookfield Reinsurances Form 20-F filed on March 23, 2022. About Brookfield Reinsurance BROOKFIELD, NEWS, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX:BNRE) and Argo Group International Holdings, Ltd. ("Argo") (NYSE: ARGO) today announced they have entered into a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in an all-cash transaction valued at approximately $1.1 billion. We look forward to partnering with the Argo team to support the growth of its core businesses, build on its strong franchise, and deliver value for policyholders, Shah said in a release. ARGO Alert: Monsey Law Firm of Wohl & Fruchter LLP Andrew Hersom Brookfield Reinsurance Arm Offers to Buy American Equity in $4.3 Brookfield Reinsurance to Acquire Argo in $1.1 Billion Transaction We regularly work with Financial and Benefit Advisors design and implement Corporate Executive Disability and Life Programs. Website Privacy & Cookies and Disclaimer. We help provide sophisticated case design, point-of-sale assistance in the areas of Estate, Business, and Pension Planning. Even if you did nothing wrong, the legal costs can really add up. Argo provides casualty insurance in the United States to the manufacturing and service sectors. After a challenging period for the specialty insurer and reinsurer,Argo announced in April of last year that its board had begun to explore strategic alternativesincluding a potential sale, merger, or other strategic transaction. All content copyright Steve Evans Ltd. 2021 All rights reserved. Brookfield Reinsurance (NYSE, TSX: BNRE) and Argo Group International Holdings, Ltd. ("Argo") (NYSE: ARGO) today announced they have entered into a definitive merger agreement whereby. Our robust platform enables agents to quickly contact you and begin the underwriting, quoting, and submission process. . This transaction brings a successful conclusion to Argos strategic alternatives review process and represents the best path forward for Argo, our employees and policyholders while also maximizing value for our shareholders, said Thomas A. Bradley, executive chairman and CEO of Argo. Brookfield values American Equity at $4.3 billion in takeover bid Argo undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by the federal securities laws. View the, @ the Bell: Apple stock hits historic high, @ the Bell: Markets nudge higher as Q2 2023 nears its end, @ the Bell: Despite market split, TSX joins global rally, Sandfire Resources America Announces Variation to Bridge Loan Agreement, Q2 Metals Announces Sampling Results from Its Abridged Work Program and Provides an Operational Update, Etruscus Completes Phase One Drill Program at Lewis Gold Property, Newfoundland, Lancaster Resources Advances Climate-Positive Lithium Extraction Initiatives through Engagement with Socialsuite, Royalties Inc. Argo has also agreed to suspend the payment of dividends on its common shares through the closing of the transaction. (NYSE/TSX: BN). Heck, its almost fun! Brookfield Reinsurance to Take Insurance Firm Argo Private in $1.1B Brookfield to buy Argo in $1.1 billion transaction - Global Reinsurance Lockton Affinity adheres to the following Privacy Policy rev. Permanent Forms of Life Insurance can be compared to a bond account. 15 West Brookfield Road, Later in the year, the firm defended its strategic review process amid mounting pressure from activist investor Capital Returns and its allies, who were seeking to replace two directors on Argos Board at the annual general meeting (AGM). We also publish Artemis.bm, the leading publisher of news, data and insight for the catastrophe bond, insurance-linked securities, reinsurance convergence, longevity risk transfer and weather risk management sectors.. Weve published and operated Artemis since its launch 20 years ago and have a readership of around 60,000 every month. Argo and its insurance subsidiaries are rated A- by Standard and Poors. Do you have some health concerns? Argo intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the Private Securities Litigation Reform Act of 1995. Such statements include forward-looking statements both with respect to Argo in general, and to the insurance and reinsurance sectors in particular (both as to underwriting and investment matters). Argos insurance subsidiaries are rated A- by A.M. Best. We look forward to partnering with the Argo team to support the growth of its core businesses, build on its strong franchise, and deliver value for policyholders.” Thomas A. Bradley, Argo’s Executive Chairman and Chief Executive Officer, said, This transaction brings a successful conclusion to Argo’s strategic alternatives review process and represents the best path forward for Argo, our employees and policyholders while also maximizing value for our shareholders. Brookfield Reinsurance has announced its pending acquisition of specialty underwriter Argo Group International Holdings (Argo) in an all-cash transaction valued at approximately US$1.1 billion (911.4 million). US-focused Argo offers a full line of specialty insurance products for the property and casualty market, while Brookfield Reinsurance owns and operates a growing global insurance and reinsurance platform. The two announced Thursday that they have entered a definitive merger agreement, which is expected to close in the second half of 2023. Goldman Sachs & Co. LLC is serving as financial advisor andSkadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor toArgoon this transaction. We also use them to share usage information with our partners. 9 MIN BROOKFIELD, NEWS, FEBRUARY 8, 2023 - Brookfield Reinsurance (NYSE, TSX:BNRE) and Argo Group International Holdings, Ltd. ("Argo") (NYSE: ARGO) today announced they have entered into a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in an all-cash transaction valued at approximately $1.1 billion. In connection with the execution of the merger agreement, Voce Capital Management LLC entered into a voting and support agreement whereby Voce Capital Management LLC agreed to vote all of the common shares held by it in favor of the merger and take certain other actions, subject to the terms and conditions of the voting and support agreement. To learn more about Life Settlements,Click Here. Continue if you are OK with this orread morein our privacy policy. However, if you need life insurance, and you dont have the cash flow for the large premiums, we can show you how to purchase your life insurance by through your companies profit sharing plan. In February, Brookfield Reinsurance signed a $1.1 billion deal to take Argo Group International ARGO private. Click Here, Life Insurance is normally not a tax-deductible expense for a businessowner. Financial Market Data powered by QuoteMedia. Brookfield Reinsurance has announced its pending acquisition of specialty underwriter Argo Group International Holdings (Argo) in an all-cash transaction valued at approximately $1.1. New Remote Job jobs added daily. By continuing to use our service, you agree to our use of cookies. The merger will be funded by existing cash on hand and liquidity available to Brookfield Reinsurance. Brookfield Reinsurance to acquire Argo in $1.1 billion transaction . Brookfield Reinsurance Ltd. (NYSE, TSX: BNRE) operates a leading financial services business providing capital-based solutions to the insurance industry. Cookies are used to offer you a better browsing experience and to analyze our traffic. Email: andrew.hersom@argogroupus.com. BNRE - Brookfield Reinsurance Ltd. - Yahoo Finance Brookfield Reinsurance To Acquire Argo In $1.1 Bln Cash Deal (RTTNews) - Brookfield Reinsurance (BNRE) and Argo Group International Holdings, Ltd. (ARGO) Wednesday announced a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in an all-cash transaction valued at approximately $1.1 billion. Start the process by taking our Insurance Risk Classification Intake Form. 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Argo, Brookfield Reinsurance and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Argos shareholders in connection with the proposed transaction. References to additional information about Argo and Brookfield Reinsurance have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. By joining Brookfield Reinsurance, Argo will continue to serve our brokers with greater financial strength and opportunities to grow as a US-focused specialty insurer.. Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry, has announced the acquisition of Argo Group International Holdings, Ltd. in an all-cash transaction valued at roughly $1.1 billion. As part of the agreement, each issued and outstanding Argo common share will be converted into the right to receive US$30 in cash at the closing of the merger, funded by existing cash on hand and liquidity available to Brookfield Reinsurance. Brookfield Reinsurance moves from Argo buy to $3.4bn AEL take-over bid Insurance News Brookfield Reinsurance announces US$1.1 billion mega deal to acquire Argo Group Brookfield Reinsurance announces US$1.1 billion mega deal to acquire Argo Group Argos leading US specialty platform adds a foundational piece to our expanding US P&C operations. Investors and security holders may obtain free copies of the proxy statement (when available) and other documents filed with, or furnished to, the SEC by Argo or Brookfield Reinsurance through the website maintained by the SEC at www.sec.gov or by contacting Andrew Hersom, head of the investor relations department of Argo: Andrew HersomHead of Investor RelationsTel: (860) 970-5845Email: andrew.hersom@argogroupus.com. To learn more about Consulting Services, Click Here. Kerrie McHugh Homepage | Brookfield Reinsurance We offer quality products and services across all lines of Medicare Insurance. You may obtain free copies of these documents as described in the preceding paragraph filed with, or furnished to, the SEC. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein or elsewhere, including the risk factors included in Argo’s most recent Annual Report on Form 10-K and Form 10-K/A, and Quarterly Report on Form 10-Q, Brookfield Reinsurance’s Form 20-F and other documents of Argo or Brookfield Reinsurance on file with, or furnished to, the SEC. Brookfield Insurance Partners also offers Fee-Only Insurance Consulting through our team of Insurance Consultants. Brookfield Reinsurance to Acquire Insurer Argo Group in $1.1B Deal Argo and Brookfield Reinsurance expect to complete the Merger in the second half of 2023. Insurance News Brookfield Reinsurance acquires Argo Group in US$1.1 billion mega deal Brookfield Reinsurance acquires Argo Group in US$1.1 billion mega deal In fact, if you think about it, your earning power is the one asset that allows you to have all the others. The merger is expected to close in the second half of 2023. Its quick. Argo Group To Be Acquired by Brookfield Reinsurance Brookfield Reinsurance has offered $55 for each share of AEL it does not already own. Are you retail Agent Looking for a Quote? Brookfield Insurance Partners 2020/ All Rights Reserved. Insurers and asset managers have formed a number of alliances in recent months in order to increase the amount of money they manage. Brookfield to acquire Argo in $1.1bn deal The transaction is not subject to any financing condition or contingency. Argo will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission. Brookfield Reinsurance delivers proposal to acquire AEL for $4.3bn Argo Group International Holdings, Ltd. (NYSE: ARGO) is a U.S. focused underwriter of specialty insurance products in the property and casualty market. Aon Reinsurance Solutions; Guy Carpenter; Gallagher Re; TigerRisk Partners; BMS Re; We offer insurance agents and financial advisors one-stop access to a broad spectrum of wholesale insurance products and services from a large selection of insurance carriers. Goldman Sachs & Co. LLC is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Argo on this transaction. For more information, please visit our website at bnre.brookfield.com. We use cookies to improve this site and enable full functionality. A potential lawsuit can come from just about anywhere when you run a retail business. Information regarding Brookfield Reinsurance’s directors and executive officers is contained in Brookfield Reinsurance’s Form 20-F filed on March 23, 2022. Stockhouse membership requires an email address which must be shared by Facebook. Gia Snape. Use our super-fast quick quote tool to see just how affordable your coverage will be. Email: gregory.charpentier@argogroupus.com, Cautionary Note Regarding Forward-Looking Statements. Brookfield Reinsurance to Acquire Argo in $1.1 Billion Transaction Plus our team of Medicare Solutions Marketers are ready to offer expert advice on how to position the products in your portfolio so you can offer maximum benefits to your clients. Sachin Shah, Chief Executive Officer of Brookfield Reinsurance, said, The acquisition ofArgorepresents another milestone in the continued expansion of our insurance solutions business. 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