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Stock Market & Financial Investment News

News Breaks
April 14, 2014
10:24 EDTVR, ENH, PTP, AHL, MRHAspen 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
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February 4, 2016
16:43 EDTAHLAspen Insurance reports Q4 EPS $1.21, consensus $1.29
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February 3, 2016
16:28 EDTENHEndurance Specialty reports Q4 EPS $1.36, consensus $1.40
Reports gross premiums written of $515.6M, an increase of 22.5% compared to the same period in 2014; Net premiums written of $289.7M, an increase of 23.8% compared to the same period in 2014; Combined ratio of 76.2% compared to 83.2% for the same period in 2014.
February 2, 2016
16:24 EDTVRValidus increases dividend 9.4% to 35c
Validus Holdings announced that its Board of Directors has increased its quarterly dividend to 35c per common share from 32c, an increase of 3c or 9.4%. The dividend is payable on March 31 to shareholders of record on March 15.
January 28, 2016
16:35 EDTVRValidus reports Q4 adjusted EPS $1.24, consensus $1.22
Reports Q4 gross premiums written $309.6M, down from $336.6M. Reports tangible book value per diluted common share $38.63, up from $36.19. Reports combined ratio 78.3%, up from 75.6%. Reports no notable, non-notable loss events during quarter.

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