Allied World and Transatlantic nix mergerPosted by RJ and Makay on Sep 16, 2011 |
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Allied World Assurance Co. Holdings and Transatlantic Holdings, Inc. called off their merger today in the face of overwhelming opposition, and Transatlantic said it might remain independent despite two higher offers currently on the table. Shareholders were to vote on the Allied deal next Tuesday, but it was anticipated that they would vote against it.
Transatlantic Holdings
The recent spotlight on Transatlantic Holdings is drawing fresh attention to the reinsurance business. The potential for lucrative fees and quick returns has long made the sector a darling of Wall Street. In a typical year, reinsurers collectively write about $100 billion in new premiums. The amount earned ultimately hinges on the number and scope of major disasters.








