Genworth Financial Inc., the life insurer and mortgage guarantor, agreed to sell its wealth- management unit to a venture of Aquiline Capital Partners LLC and Genstar Capital LLC for about $412.5 million.
Conning Holdings Corp., the asset manager controlled by Jeff Greenberg’s Aquiline Capital Partners LLC, named David Marks and Ron Joelson to its board as the company seeks to expand offerings to insurance clients.
Troy Stratos, a self-described movie producer who left a trail of debt in Europe and North America, was arrested in Los Angeles for allegedly defrauding the ex-wife of comedian Eddie Murphy of at least $7 million.
A flurry of large, cross-border international law firm mergers in the fourth quarter of 2012 brought the number of law firm mergers and acquisitions to 60 last year, the same as the previous year, according to Altman Weil, a legal consulting firm.
Woody Bradford, who will take over as chief executive officer of asset manager Conning Inc. next month, said insurers should avoid riskier credits and long- duration assets as they seek to boost portfolio yields.
Bond broker Chapdelaine & Co. is seeking buyers as an April agreement to sell itself to Hong Kong-based Primus Financial Holdings Ltd. has yet to close, according to three people with direct knowledge of the matter.