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Mount Logan to acquire Ability Insurance for $20m

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United States , Mount Logan , Ability Insurance Company , Liability Insurance , Logan Capital , ஒன்றுபட்டது மாநிலங்களில் , ஏற்ற லோகன் , லோகன் மூலதனம் ,

Mount Logan Capital Inc. Announces Agreement to Acquire Ability Insurance Company


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TORONTO, May 19, 2021 (GLOBE NEWSWIRE) Mount Logan Capital Inc. (NEO: MLC) ( Mount Logan, our, we, or the Company ) announces that it has entered into a non-binding agreement (the Purchase Agreement ) for the acquisition of 100% of the equity of Ability Insurance Company ( Ability ) for a purchase price of $20 million (the Purchase Consideration ) to be satisfied through the issuance of an unsecured promissory note in the amount of $15 million and $5 million of common shares of Mount Logan (the Transaction ). Mount Logan s wholly-owned subsidiary, Mount Logan Management LLC ( ML Management ) is proposed to manage a meaningful portion of Ability s assets, significantly increasing ML Management s assets under management ( AUM ). ....

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