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| June 6, 2023 Brookfield Reinsurance to Acquire Argo in $1.1 Billion Transaction 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,Argos Executive Chairman and Chief Executive Officer, said, 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. Brookfield Reinsurance (BNRE) to Acquire Argo (ARGO) in $1.1 Billion Brookfield Reinsurance has offered $55 for each share of AEL it does not already own. Information regarding Argo’s directors and executive officers, including a description of their direct interests, by security holdings or otherwise, is contained in Argo’s annual proxy statement filed with the SEC on October 31, 2022 and in other filings with the SEC. Tel: (210) 321-2104 More information on Argo and its subsidiaries is available at www.argogroup.com. Looking for Brookfield Properties Retail Tenant Insurance. Brookfield Reinsurance acquires Argo Group in US$1.1 billion mega deal Each of Brookfield Reinsurance’s and Argo’s boards of directors unanimously approved the merger agreement. 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 billion. . Brookfield Reinsurance to Acquire Argo in $1.1 Billion 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. We send a copy of your certificate right to BPR. Ardea Partners and J.P. Morgan . Login or create a forever free account to read this news. To learn more about Life Settlements,Click Here. CEO and co-founder of AMPHTRITE after twenty years of research at CNRS and fifteen years as an associate professor at Ecole Polytechnique. We deliver services through a sophisticated network of advanced planning consultants. Brookfield Reinsurance Ltd. (NYSE, TSX: BNRE) operates a leading financial services business providing capital-based solutions to the insurance industry. Information regarding Brookfield Reinsurances directors and executive officers is contained in Brookfield Reinsurances Form 20-F filed on March 23, 2022. Copyright 2023 KM Business Information US, Inc, Brookfield Reinsurance completes $5.1 billion purchase of American National Group. Brookfield Insurance Partners is committed to the personal attention to your insurance cases need with the resources, support, and technology that the modern financial advisor requires. We also use them to share usage information with our partners. 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, 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 acquireArgoin an all-cash transaction valued at approximately$1.1 billion. 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. We help provide sophisticated case design, point-of-sale assistance in the areas of Estate, Business, and Pension Planning. We have 220,000+ readers every month & 25,000+ email subscribers. Brookfield Reinsurance to Acquire Argo in $1.1 Billion Transaction by Globe Newswire February 8, 2023 8:29 AM | 8 min read BROOKFIELD, NEWS, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Brookfield. By continuing to use our service, you agree to our use of cookies. ARGO Alert: Monsey Law Firm of Wohl & Fruchter LLP Andrew Hersom Live too long, Die too Soon, or Get Sick in Between we can help you and your clients with these three unique financial risks they may encounter. For further information regarding the definitive merger agreement, please see Argo’s current report on Form 8-K, which will be filed with the U.S. Securities and Exchange Commission (the SEC”) and will contain a summary of the material terms and conditions of the merger agreement, as well as a copy of the merger agreement. BROOKFIELD, NEWS, Feb. 08, 2023 -- Brookfield Reinsurance and Argo Group International Holdings, Ltd. today announced they have entered into a definitive merger agreement whereby. Brookfield values American Equity at $4.3 bln in takeover offer | Business 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. INVESTORS IN AND SECURITY HOLDERS OF ARGO ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR FURNISHED OR WILL BE FILED OR WILL BE FURNISHED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Brookfield, MA 01506. MA 01506. 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Seine-Saint-Denis - Val-de-Marne, Yvelines - Essonne - Val-d'Oise - Seine-et-Marne, langues d'ol: orlanais - champenois - picard - normand, forum Babel: tudes & recherches sur les langues d'ici & d'ailleurs, et rgions limitrophes entre Seine et Loire, grammaire, syntaxe et dictionnaire du franais tel qu'on le parle dans le peuple de Paris, avec tous les termes d'argot usuel, locutions populaires, locutions d'argot que tout Franais et tranger doit connatre, et autres locutions non encore ou plus ou moins imparfaitement expliques des XVII, et d'autres locutions non encore ou mal expliques, alphabetisch geordnete Sammlung der eigenartigen Ausdrucksweisen des pariser Argot, French and English dictionary of the cant words, quaint expressions, slang terms and flash phrases used in the high and low life of old and new Paris, tude sur l'introduction du patois parisien dans la littrature franaise du XVII, le tmoignage des manuels d'enseignement du franais crits en Angleterre entre le XIII, prcde d'un coup d'il sur le commerce de la France au Moyen ge, les chemins qu'il suivait et l'influence qu'il a d avoir sur le langage, aspects phontiques et sociolinguistiques, implications didactiques, de Saint-Ouen et de Montmorency sur les affaires du temps, Le parler rural contemporain dans la rgion d'tampes, Vieilles locutions et vieux proverbes mantois, Rgionalismes du franais d'le-de-France, Lexique du parler populaire parisien d'antan, Dictionnaire historique, tymologique et anecdotique de l'argot parisien, La dcouverte du franais non-conventionnel outre-Rhin, A careful selection of modern Parisian slang, Francien et franais de Paris, Vers une histoire du dialecte urbain de Paris, L'utilisation du patois parisien comme niveau de langue, Le patois de Paris et l'histoire du franais, Le dbut du rayonnement parisien et l'unit du franais au Moyen ge, Grammaire compare des varits coloniales du franais populaire de Paris, Le franais populaire de Paris dans le franais des Amriques, Les origines de la prononciation moderne tudies, tude sur le langage populaire ou patois de Paris et de sa banlieue, Observations sur la prononciation et le langage rustiques, Aspects phontiques de l'accent parisien multiculturel, L'intonation des jeunes en rgion parisienne, Les trois agrables confrences de deux paisans. Do you have some health concerns? Unlike other insurance brokerage general agencies we assist advisors in growing and marketing their business. PO Box 410679 Financial services firm Brookfield Reinsurance announced it has entered a definitive agreement to acquire Argo Group International Holdings in an all-cash transaction valued at approximately $1.1 billion. Each class A exchangeable limited voting share of Brookfield Reinsurance is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation. This website uses cookies to improve your experience. 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. Advisors Additional Information about the Proposed Transaction and Where to Find ItIn connection with the proposed transaction, Argo will file with the SEC a proxy statement on Schedule 14A and Argo or Brookfield Reinsurance may file or furnish other documents with the SEC regarding the proposed transaction. Financial services firm Brookfield Reinsurance announced it has entered a definitive agreement to acquire Argo Group International Holdings in an all-cash transaction valued at approximately. This press release is not a substitute for the proxy statement or any other document that Argo or Brookfield Reinsurance may file with the SEC. Brookfield Insurance Partners, was established to provide customized outsourced advanced wealth advisory support to life insurance professionals and financial advisors. In February, Brookfield Reinsurance signed a $1.1 billion deal to take Argo Group International private. Live too long, Die too Soon, or Get . Argo provides casualty insurance in the United States to the manufacturing and service sectors. NEW YORK, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Argo Group International Holdings, Ltd. (NYSE: ARGO) ("Argo") acted. Stockhouse.com is owned by Stockhouse Publishing Ltd. 2019 Stockhouse Publishing Ltd. All rights reserved. The merger consideration perArgo common sharerepresents a6.7% premium toArgosclosingshare price on February 7, 2023, and a48.7% premium overArgosclosingshare price on September 7, 2022, the last full trading day prior to Argo announcing the sale of Argo Underwriting Agency Limited and its Lloyds Syndicate 1200 and the continuation of its strategic alternatives review process. Sign up for our free newsletter. RTTNews Feb. 8, 2023, 09:03 AM (RTTNews) - Brookfield Reinsurance (BNRE) and Argo Group International Holdings, Ltd. (ARGO) Wednesday announced a definitive merger agreement whereby. Brookfield Reinsurance BNRE has offered $55 for each share of AEL it does not already own. 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. Aon Reinsurance Solutions; Guy Carpenter; Gallagher Re; TigerRisk Partners; BMS Re; Sachin Shah, CEO of Brookfield Reinsurance, said the acquisition of Argo represents another milestone in the firms continued expansion. By default, joining or signing in using your Facebook account will work and the email address will be shared by Facebook automatically. (RTTNews) - Brookfield Reinsurance (BNRE) and Argo Group International Holdings, Ltd. (ARGO) Wednesday announced a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in . This field is for validation purposes and should be left unchanged. 'Insurance is in my blood' UIP CEO on taking the reins of the family business, "My risk awareness skills are perfectly suited for racing" - INSTANDA CEO, Big "I" apologizes for remarks during CEO's talk with Fox News host, Canopius launches cyber incident response team, Brookfield Reinsurance swoops for Argo Group in $1.1 billion mega deal. Argo Group To Be Acquired by Brookfield Reinsurance Discover the best of Paris and its region: museums, monuments, shows, exhibitions and sport events, gastronomy and art of living, parks and gardens, shopping spots, and our selection of themed tours to discover Paris Region as you wish. The merger is expected to close in the second half of 2023, subject to approval by Argo shareholders and other closing conditions customary for a transaction of this type, including receipt of insurance regulatory approvals in relevant jurisdictions and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The proposed transaction is subject to risks and uncertainties and factors that could cause Argo’s and Brookfield Reinsurance’s actual results to differ, possibly materially, from those in the specific projections, goals, assumptions and statements herein including, but not limited to: (i) that Argo and Brookfield Reinsurance may be unable to complete the proposed transaction because, among other reasons, conditions to the closing of the proposed transaction may not be satisfied or waived, including the failure to obtain Argo shareholder approval for the proposed transaction or that a governmental authority may prohibit, delay or refuse to grant approval for the consummation of the transaction; (ii) uncertainty as to the timing of completion of the proposed transaction; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; (iv) risks related to disruption of management’s attention from Argo’s or Brookfield Reinsurance’s ongoing business operations due to the proposed transaction; (v) the effect of the announcement of the proposed transaction on Argo’s or Brookfield Reinsurance’s relationships with its clients, employees, operating results and business generally; and (vi) the outcome of any legal proceedings to the extent initiated against Argo or Brookfield Reinsurance or others following the announcement of the proposed transaction, as well as Argo or Brookfield Reinsurance management’s response to any of the aforementioned factors. Brookfield Reinsurance said on Wednesday that after the merger is completed in the second half of 2023, it will offer Argo shareholders a $30 cash payment, representing a premium of about 7% to the stock's last close. Brookfield Reinsurance (TSX:BNRE) to acquire Argo - Market News Today Brookfield Insurance Partners 2020/ All Rights Reserved. Connecting People with Insurance Problems to People with Insurance Solutions. Sachin Shah, Chief Executive Officer of Brookfield Reinsurance, said, The acquisition ofArgorepresents another milestone in the continued expansion of our insurance solutions business. Goldman Sachs & Co. LLC is serving as financial advisor andSkadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor toArgoon this transaction. Argo and its insurance subsidiaries are rated A- by Standard and Poors. Argo has also agreed to suspend the payment of dividends on its common shares through the closing of the transaction. Brookfield Reinsurance and Argo Group International have 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. Brookfield Insurance Partners - Insurance Brokerage General Agency 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. No paperwork to track down. You can change your cookie settings at any time using your browser. Argo Group Shareholders Approve Proposed Merger with Brookfield Reinsurance Brookfield has bet aggressively on its reinsurance business. Email: rachel.powell@brookfield.com, Communications & Media Argo: Argo and Brookfield Reinsurance expect to complete the Merger in the second half of 2023. I had a Master in Theoretical Physics (1993), a PhD in geophysical fluid dynamics (1997) at the Ecole Normale (France) and was post-doc at Cambridge University. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Aons recent mid-year Reinsurance Market Dynamicsreport shows that global reinsurer , Insurer Suncorp Group has announced that it has joined the , Life insurer and asset manager Aegon has announced it is . Brookfield Insurance Partners also offers Fee-Only Insurance Consulting through our team of Insurance Consultants. Following the original announced, Argos Executive Chairman and CEO Thomas Bradley noted that the agreement with Brookfield Reinsurance 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.. Information regarding Brookfield Reinsurance’s directors and executive officers is contained in Brookfield Reinsurance’s Form 20-F filed on March 23, 2022. Email: andrew.hersom@argogroupus.com, Gregory Charpentier Receive twice daily emails from Intelligent Insurer with all the latest industry news. Meanwhile, in October, Blackstone Inc invested $500 million in Resolution Life through a partnership. Rachel Powell 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 Hersom Brookfield has bet aggressively on its reinsurance business. Its quick. Argo’s leading U.S. specialty platform adds a foundational piece to our expanding U.S. P&C operations. Ardea Partners and J . The transaction is not subject to any financing condition or contingency. Arch Insurance Announces Closing of Acquisition of McNeil & Co. Willis Towers Watson Launches Unique Approach for Mid-Market Clients. . Brookfield Reinsurance delivers proposal to acquire AEL for $4.3bn The offer price marks a 35% premium to AEL's closing price on Friday, before media reports on a possible takeover proposal from Brookfield. 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 Policy benefits are the sole responsibility of the issuing insurance company. Post Office Box 417, Brookfield, 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. New Remote Job jobs added daily. Our insurance brokerage firm was created with the mindset that we would help professional advisors solve their clients insurance problems. More information on Argo and its subsidiaries is available at www.argogroup.com. A customer slips and falls on spilled liquid at your kiosk. The transaction is not subject to any financing condition or contingency. By joining BrookfieldReinsurance, Argo will continue to serveour brokerswith greater financial strength and opportunities to grow as a U.S.-focused specialty insurer.. Cookies are used to offer you a better browsing experience and to analyze our traffic. Our friendly reps are happy to help with any questions. All content copyright Steve Evans Ltd. 2021 All rights reserved. By joining Brookfield Reinsurance, Argo will continue to serve our brokers with greater financial strength and opportunities to grow as a U.S.-focused specialty insurer, he added. Heck, its almost fun! 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. This press release is not a substitute for the proxy statement or any other document that Argo or Brookfield Reinsurance may file with the SEC. Our cookie policy, By Brookfield Reinsurance to Acquire Insurer Argo Group in $1.1B Deal 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. (NYSE/TSX: BN). 15 West Brookfield Road, What's driving M&A transaction trends in the P&C sector? Argo offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses. As part of the agreement, each issued and outstanding Argo common share will be converted into the right to receive $30 in cash at the closing of the merger, funded by existing cash on hand and liquidity available to Brookfield Reinsurance. Tel: (860) 970-5845 Brookfield Reinsurance said on Wednesday that after the merger is completed in the second half of 2023, it will offer Argo shareholders a $30 cash payment, representing a premium of about 7% to the stocks last close.