Aquiline Capital Partners LLC (“Aquiline”), a New York-based private equity firm investing in the financial services sector, today announced it has acquired Conning & Company (“Conning”), a leading global provider of expert solutions and services to the insurance market. The sale by Swiss Reinsurance Company Ltd. (“Swiss Re”), under undisclosed terms, will include Conning’s U.S. [...]

PMA Capital Corporation announced that it intends to release its fourth quarter and full year 2008 financial results on Thursday, February 19, 2009, after the market closes.
The Company expects to report operating income, which it defines as net income (loss) excluding net realized investment gains (losses) and results from discontinued operations, of between $0.10 and [...]

Hannover Re has again transferred a portfolio of life and annuity reinsurance to the international capital market. The transaction – designated “L7″ – encompasses a financing volume of EUR 100 million and covers unit-linked life and annuity business of several European clients.
This transfer enables Hannover Re to convert a future earnings steam into a current [...]

Surrey Bancorp announced that it has raised $2 million in capital as a result of its participation in the U.S. Treasury’s Capital Purchase Program of the Emergency Economic Stabilization Act of 2008.
The Company issued 2,000 shares of Surrey Bancorp preferred stock at a 5 percent annual dividend rate for the first five years, increasing to [...]

Milliman, Inc., a leading provider of actuarial consulting services to the life insurance industry, announced its support of efforts by the National Association of Insurance Commissioners (NAIC) and the American Council of Life Insurers (ACLI) to develop reserve & asset valuations as well as capital standards that more fairly and accurately reflect the underlying economics [...]

Susquehanna Bancshares, Inc. (Susquehanna) has received preliminary approval to participate in the U.S. Treasury Department’s voluntary Capital Purchase Program.
Under the program, Susquehanna applied for and will receive $300 million in capital and in return will issue the Treasury $300 million in shares of Susquehanna preferred stock and warrants to purchase $45 million of Susquehanna [...]

Citing its financial strength, Mutual of Omaha announced that it will not participate in the in the U.S. Treasury Department’s Troubled Asset Relief Proposal (TARP) Capital Purchase Program.
“Mutual of Omaha has a strong capital position and good liquidity. We are profitable and fully able to meet our commitments to our policyholders. Therefore we elected not [...]

Principal Financial Group, Inc. announced that it has applied to participate in the U.S. Department of the Treasury’s Capital Purchase Program (TCPP), as a savings and loan holding company subject to oversight of the Office of Thrift Supervision. If The Principal participates in TCPP, the company would issue preferred shares and warrants to the Treasury. [...]

Southern Community Financial Corporation announced that it has received preliminary approval from the U.S. Treasury for the sale of $42.75 million in preferred stock and related warrants to the U.S. Treasury under the Capital Purchase Program of the Emergency Economic Stabilization Act of 2008. The preferred stock will pay a 5% dividend for the first [...]

AEGON, the owner of Transamerica, confirms that it is currently examining the possibility of acquiring a thrift in the United States. This would potentially allow the company to qualify for the US government’s Troubled Asset Relief Program (TARP).
The company has no need for additional core capital beyond the EUR 3 billion secured from the Dutch [...]