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The New York-based global alternative asset manager has an office in Bermuda

Strategic move will accelerate the UK-based tax specialist’s product development and geographical expansion plans

Maiden General and Maiden Life were the principal operating subsidiaries of the company’s International Insurance Services platform

Provided the necessary approvals are given, the amalgamation of the two domestic insurers is expected to close on January 6

Japan’s largest life insurer already owned a 23 per cent stake in the Bermudian company, and will buy the rest for $8.2 billion

The two domestic insurers are moving toward a merger that was first announced in June

Both companies make major share acquisitions on the Bermuda Stock Exchange

The deal, first announced in June, has received all required regulatory approvals

Expansion follows the Bermudian-based company’s acquisition by Aviva

The acquisition of Christmas Decor was completed via the Bermudian-based investment holding company’s subsidiary

Canada Pension Plan Investment Board continues to maintain the significant majority ownership position in Bermuda

The deal is expected to close in mid-2025, subject to regulatory approvals and other customary closing conditions