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Stock Market & Financial Investment News

News Breaks
April 14, 2014
10:24 EDTVR, AHL, ENH, MRH, PTPAspen Insurance jumps after receiving buyout proposal
Shares of Aspen Insurance (AHL) are rising after a peer in the insurance and reinsurance industry, Endurance Specialty (ENH), offered to buy the company. WHAT'S NEW: Endurance Specialty announced that it had sent a takeover proposal to Aspen, offering to buy the company for $3.2B, or $47.50 per share. Endurance offered Aspen shareholders the right to receive, at their election, all cash, all Endurance common shares, or a combination of cash and Endurance common shares in exchange for their stake in Aspen. Endurance, which said the cash consideration to be offered will be funded from cash resources and $1.05B of newly issued common shares to investors, argues that the combined company would be a global leader in specialty insurance and reinsurance with increased scale, market presence, diversification and profit potential and over $5 billion of combined annual gross premiums written. PRICE ACTION: In early trading, Aspen climbed $6.01, or 15.27%, to $45.38 and Endurance Specialty fell 2.95% to $52.23 before shares of both companies were halted for trading around 10 am ET. Other reinsurers rose, with Montpelier Re (MRH) advancing 2.2% to $29.94, Platinum Underwriters (PTP) gaining 1% to $60, and Validus (VR) adding 0.8% to $37.59.
News For AHL;ENH;MRH;PTP;VR From The Last 14 Days
Check below for free stories on AHL;ENH;MRH;PTP;VR the last two weeks.
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July 28, 2014
16:13 EDTMRHMontpelier Re reports Q2 EPS 76c, consensus 99c
Reports fully converted book value per share of $31.74, a 2.8% increase from March 31. Net premiums written in the second quarter were flat year-over-year, when adjusting for reinstatements, with increased writings within the company’s Montpelier at Lloyd’s and Collateralized Reinsurance segments, offsetting a decrease in writings at Montpelier Bermuda. The loss ratio for the quarter was 41%, which includes $24M of net losses from known catastrophe events in the quarter, offset by $38M of favorable prior year loss reserve movements. The combined ratio was 77% for the quarter. Net investment income was $12M for the quarter, and the total return on the investment portfolio was 0.9%.
13:47 EDTAHL, ENHEndurance seen dropping Aspen bid by 'most' observers, Insurance Insider says
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July 25, 2014
18:56 EDTENH, AHLAspen Insurance holders overwhelmingly reject Endurance authorization proposals
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July 24, 2014
16:39 EDTVRValidus reports Q2 EPS $1.61, consensus $1.48
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July 23, 2014
16:50 EDTAHLAspen Insurance sees 11% operating return on equity in FY15
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16:50 EDTAHLAspen still expects to achieve or exceed 10% operating return on equity in FY14
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16:46 EDTAHLAspen Insurance reports Q2 EPS $1.40, consensus $1.34
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July 21, 2014
07:01 EDTAHL, ENHAspen issues letter urging investors to reject Endurance proposals
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July 18, 2014
10:03 EDTPTPOn The Fly: Analyst Downgrade Summary
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06:07 EDTPTPPlatinum Underwriters downgraded to Market Perform at Keefe Bruyette
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July 17, 2014
10:00 EDTENHOn The Fly: Analyst Upgrade Summary
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07:36 EDTENH, AHLEndurance Specialty upgraded to Buy from Neutral at Janney Capital
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06:28 EDTENHEndurance Specialty upgraded to Buy from Neutral at Janney Capital
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06:27 EDTPTPPlatinum Q2 may turn reinsurance sentiment negative, says Citigroup
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July 16, 2014
16:03 EDTPTPPlatinum Underwriters reports Q2 EPS $1.34, consensus $1.52
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08:33 EDTENH, AHLGlass Lewis recommends Aspen Insurance shareholders reject Endurance proposals
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