Ariel process down to final two as Fidelis bows out

BTG Pactual's efforts to sell its 50 percent stake in Ariel are
in their final stages, with binding offers submitted earlier this
month and only two bidders still in contention, The
Insurance Insider can reveal.
Richard Brindle's Fidelis, considered by many as the
frontrunner to buy out BTG, is understood to have dropped out of
the process for the $225mn book value business.
Sources said that legacy-to-live player Enstar is one of the
parties that made it through to the...