January 2016 (Yahoo Finance)Beechwood Acquires Old Mutual Bermuda Beechwood Bermuda Ltd. acquires offshore writer of investment and annuity products with over $1 billion in assets. The transaction, which closed on December 31, 2015, provides for the continuation of service support by Old Mutual for the OMB products over the next three years, supplemented by additional support from Beechwood's growing wealth management business.
June 2015 (Barrons)Aflac's New CFO is Very Shareholder FriendlyCredit Suisse recognizes Fred Crawford's involvement in the CNO Financial/Beechwood Re transaction as having a positive impact on CNO's stock price. Credit Suisse analyst Thomas Gallagher and team explain why Aflac's (AFL) hiring of Fred Crawford away from CNO Financial (CNO) is good news for Afla...
March 2015 (Royal Gazette)Beechwood Opens Headquarters in Hamilton, BermudaBeechwood Re announces the opening of its affiliate Beechwood Bermuda International Limited's new headquarters office. The new company will be based in Cumberland House, 1 Victoria Street, Hamilton, will support both Beechwood's reinsurance business that provides capacity to life, health, and annuity insurance companies and Beechwood's wealth management business that offers direct-written investment products to non-US investors.
August 2014 (PR Newswire)Beechwood Bermuda Launches Two Innovative Investment Plans for Non-US InvestorsBeechwood announces the sales of two new fixed and variable investment plans with attractive rates and innovative features. Beechwood Bermuda today announced that it was beginning sales of two new fixed and variable investment plans with guaranteed returns significantly higher than those offered by other firms. Beechwood Bermuda, an affiliate of reinsurer Beechwood Re, which has closed over $1B in transactions this year, will initially offer its Accumulator Plus and Escalator Plus plans in the Americas (ex-U.S.)
February 2014 (PR Newswire)Beechwood Re to Close $590 Million Reinsurance Transaction Beechwood Re, Ltd. enters into an agreement with CNO Financial Group subsidiaries to reinsure its in-force long-term care liabilities. The deal will have CNO's subsidiaries cede $550 million of statutory reserves and approximately $40 million of other capital associated with closed blocks of long-term care insurance underwritten by Bankers Conseco Life Insurance Company and Washington National Insurance Company.
February 2014 (Bloomberg News)CNO Rallies After Reinsurance Deal to Cut Long-Term Care Risk CNO's stock reacts after the Beechwood deal is cut and its transfer of risk is seen as a catalyst to propelling the stock even further. Beechwood Re Ltd. agreed to take on obligations tied to the policies with CNO ceding $590 million, mostly in reserves, the reinsurer said in a statement today. CNO is among insurers burned by higher-than-expected costs on the coverage, which helps pay for home-health aides or residence in nursing homes. Low interest rates also pressured returns.
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