Insight and Intelligence on the London & International Insurance Markets 17 Mar 2018

To view the full Insurance Insider site click here

Assurant ups cash payment to The Warranty Group owner

  • Bernard Goyder 9 January 2018
  • P&C insurer Assurant will give more cash and less stock to private equity firm TPG Capital under revised terms for its takeover of The Warranty Group (TWG) following US tax reforms.

    TPG will get $488mn more cash than before, based on the midpoint of a previously agreed range, to receive $860mn for the warranty insurer.

    The private equity firm will own less of the merged entity than previously agreed in taking a 19.8 percent stake representing 10.4 million shares, rather...

  • If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership
  • Login Free trial
  • Login