Bermuda’s Overseas Partners Ltd. (OPL) announced that it had completed the acquisition of Reliance Re agreed upon last June. It plans to rename the company Overseas partners US reinsurance Company, and to maintain its Philadelphia headquarters, and most of Reliance’s management.
AXA subsidiary, Alliance Capital, also announced that the $3.5 billion acquisition of fund manager Sanford C. Bernstein Inc. had been completed.
The combined companies will have $470 billion of assets under management which will generate an estimated $3 billion in income. It employs 4000 people serving 2600 institutional accounts and 15,000 private clients, and has over 6.1 million “worldwide mutual fund shareholder accounts.”
Was this article valuable?
Here are more articles you may enjoy.
Camp Mystic, Where Texas Floods Killed 28, Files Bankruptcy 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
A Super Yacht Armada Came to Miami, Leaving a Marine Graveyard in Its Wake 
