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Aspen in deal talks; Integro unit to acquire UK's Hawkes Bay Holdings


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Aspen in deal talks; Integro unit to acquire UK's Hawkes Bay Holdings

Aspen Insurance Holdings Ltd. is in takeover talks with several parties and is preparing to begin a bid process, according to sources for The Insurance Insider. At least one strategic bidder and two private equity houses have approached Aspen, and the purchase price being offered is in the range of $47.50 to $50 per share.

The Texas Department of Insurance's division of workers' compensation has set the interest and discount rate at 5.58%, the Insurance Journal reported. The new rate will be effective from April 1 through June 30.

Brown & Brown Inc. said its 2-for-1 stock split was paid March 28 to shareholders of record as of March 14.

Integro Ltd. unit Integro Insurance Brokers, an international insurance brokerage and specialty risk management firm, agreed to acquire 100% of Hawkes Bay Holdings Ltd., and to merge its U.K. wholesale and U.K. retail operations with Hawkes Bay unit Tyser & Co. Ltd. Terms of the deal were not disclosed.

Featured news

Trump replaces VA chief with personal doctor; FDA looks to boost biosimilars: President Donald Trump ousted Veterans Affairs Secretary David Shulkin; U.S. Food and Drug Administration Commissioner Scott Gottlieb said the FDA would do what it could to help boost biosimilar competition.

Financial news in other parts of the world

Asia-Pacific: Chinese bank FY'17 profit up; Japan's ORIX exits Sri Lanka; Thailand holds rate

Europe: Deutsche launches i-bank review; expected Brexit job moves down; Greek earnings

Middle East & Africa: Sanlam raises $490M in new share sale; Morocco's BMCE eyes Shanghai branch

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng was up 0.24% to 30,093.38, and the Nikkei 225 rose 0.61% to 21,159.08.

In Europe, as of midday, the FTSE 100 rose 0.40% to 7,072.99, and the Euronext 100 was up 0.39% to 1,010.74.

On the macro front

The jobless claims report, the Chicago PMI report, the consumer sentiment report, the EIA natural gas report, the fed balance sheet and the money supply report are due out today.

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