Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Canada Pension Plan Investment Board buys Ascot Underwriting for US$1.1B
TORONTO – The Canada Pension Plan Investment Board has signed a deal with American International Group to buy Ascot Underwriting Holdings Ltd. for US$1.1 billion.
Ascot is a Lloyd’s of London syndicate and a global specialty insurance underwriter.
CPPIB says the deal is part of its strategy to grow in specific sub-sectors in financial services.
Once the deal is complete, Ascot will operate as a stand-alone, business run by its current senior management team including chief executive Andrew Brooks.
CPPIB invests the money not needed by the Canada Pension Plan to pay current benefits.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
