Hardy Insurance
Insurer mergers & acquisitions: Is 2011 the time to strike?
After a lean period for insurer mergers and acquisitions through the economic downturn, Daniel Dunkley reports that the first rays of sunlight might begin to show in 2011.
Jubilee enters terrorism market
Jubilee Managing Agency has entered the terrorism market after employing Marcus Ripley, a former Hardy underwriter.
Beazley focuses on M&A as profit rises to $251m
Beazley has confirmed that acquiring businesses in its target markets remains a key priority despite its failed bid to acquire Lloyd’s competitor Hardy towards the end of last year.
Interview - Karen Ellis: One's formula for success
With the management buyout of motor sport specialist Ellis Clowes & Company from THB, Karen Ellis has certainly made her mark. She talks to Amy Ellis about remaining in pole position in its niche.
2011 tipped to finally see an upturn in Lloyd's M&A action
Takeover speculation among Lloyd's insurers look set to continue throughout 2011, after Canopius kicked off the year with an approach for rival Omega.
Hardy responds to Beazley withdrawal with share buy-back
Hardy has revealed that the share buy-back programme announced on 26 November 2010 will now commence under existing authority from shareholders and will be administered by Peel Hunt.
Beazley withdraws interest in Hardy
Beazley’s final proposal of 350 pence per share has been rejected by Hardy.
Hardy Underwriting opens in Asia
Hardy Underwriting Bermuda Limited has announced the commencement of underwriting operations at Hardy Underwriting Asia within the Lloyd's Asia platform.
Hardy outlines share buy-back programme and third party capital deal
Hardy today announces that it has entered into an agreement for the provision of third party capital to syndicate 382 for the 2011 year of account.
Hardy still open to Beazley negotiations
Hardy's chief executive has said the insurer would be willing to discuss an improved offer from Beazley, despite the latter's threat to withdraw its renewed offer of 330p per share in cash after it was rejected.
Hardy rejects Beazley's second bid
Hardy has rejected a renewed offer for all of its shares from Beazley.
Hardy boss accuses Beazley of undervaluing firm with offer
Hardy chief executive Barbara Merry has blamed a tough insurance cycle for the insurer trading below book value but said that is no reason for its shareholders to jump to accept Beazley's offer.
Editor's comment: Lloyd's soap rumbles on
As the clock ticked down to the Friday (15 October) deadline to complete a deal for Brit, the Dutch-domiciled insurer confirmed an extension has been granted to bidders Apollo and CVC Capital Partners.
Hardy: "opportunistic" Beazley offer undervalues business
Hardy has hit responded to Beazley's offer by commenting that the proposal "substantially undervalues the company".
Beazley still keen on Hardy despite "surprise" at £158.4m bid rejection
Beazley has confirmed that it has made a 300p per share case approach to Hardy Underwriting Bermuda valuing the latter at £158.4m that has been rejected by Hardy.
Hardy sets December 2010 start date for Singapore operation
Hardy Underwriting Bermuda has announced the opening of its new Singapore office.
Hardy extends Asian presence
Hardy Underwriting Bermuda has opened its new Singapore office, adding Hardy Underwriting Asia to the Lloyd's Asia platform in recognition of the growing significance of the Asia Pacific economies and the tendency for local markets to retain increasing…
Hardy appoints property underwriters
Hardy Underwriting Bermuda has recruited two underwriters within its non-marine property division of its Lloyd’s Syndicate 382.
Hardy profit nosedives in first half results
Hardy Underwriting Bermuda's profit before tax has fallen to £0.8m (H1 2009: £7.8m) after it was hit by a string of catastrophic events.
Lloyd's & London market: Bargain hunt
It looks like investors searching for a piece of the action in Lloyd's can pick up a bargain right now, as depressed share prices shine a light on profitable businesses trading at a discount to their net asset value. Ralph Savage investigates whether a…
Hardy CEO admits 2010 profits will be "diminished" after Q1 losses
Hardy Underwriting said it expects to increase gross written premium volume for the 2010 financial year to more than £300m (2009: £242m).
Hardy sees profits rocket before exchange
Bermuda-domiciled insurer Hardy has reported a steep increase in profit before tax and foreign exchange movements of £26.7m (2008: £4.4m), in contrast to a slight dip in profit before tax of £20.1m (2008: £23.1m). The combined ratio before foreign…
Hardy records 78.1% combined ratio
Hardy Underwriting Bermuda has reported profit before tax and foreign exchange movements of £26.7m (2008: £4.4m).
What's up in construction and engineering?
Katherine Blackler examines the effects of the recession on construction and engineering markets along with the risks and opportunities for reinsurers presented in 2010