Brookfield Reinsurance to buy insurance firm Argo in $1.1 bln deal (updated)

Brookfield Wealth Solutions

08/02/2023 13:47

(Adds per-share offer price, other details)
       Feb 8 (Reuters) - Financial services firm Brookfield
Reinsurance  BNRE.N   BNRE.TO  said on Wednesday it would
acquire insurer Argo Group International Holdings  ARGO.N  in a
deal valued at $1.1 billion.
    Argo shareholders will be eligible for a $30 cash payment
when the deal closes, representing a premium of about 7% to the
stock's last close, Brookfield Reinsurance said.
    The merger is expected to complete in the second half of
2023, Brookfield said.
 (Reporting by Niket Nishant in Bengaluru; Editing by Sriraj
Kalluvila and Shinjini Ganguli)
 ((Niket.Nishant@thomsonreuters.com;))