VENTURE CAPITAL POST

The US companies are keeping their profits made overseas out of the homeland in order to avoid taxes. It's estimated that 500 large US companies are holding over $2.1 trillion accumulated profits overseas to avoid taxes. These companies have to shell out $620billion by paying US taxes to repatriate the funds.

RenaissanceRe Holdings Ltd (RNR.N) said it would buy fellow Bermuda-based reinsurer Platinum Underwriters Holdings Ltd (PTP.N) for about $1.9 billion to boost its U.S. business.

Hamilton, Bermuda-based global commercial property firm Brookfield Property Partners LP increased its offer to buy New York, US-based firm Brookfield Office Properties Inc by $1 per share after a bid evaluation.

Japanese insurance firm Sompo Japan Insurance Inc will acquire private British company Canopius in a deal valued at $970 million to expand its overseas operations, according to a report.

Bermuda-based life insurer Wilton Re Holdings is scouting for investment banks to advise it on its possible sale or initial public offering next year. Wilton Re has received a total fund of USD1.5 billion from private equity firms.

Miravast Asset Management announced the closing of a US$60 million life insurance portfolio acquisition