2017 mergers and acquisitions News

Ryan Specialty Group to Acquire N-Surance Outlets of Georgia

Ryan Specialty Group, LLC, announced it has reached a definitive agreement to acquire N-Surance Outlets (NSO), a wholesale insurance brokerage and binding authority operation headquartered in Roswell, Ga. NSO will become part of R-T Specialty, LLC (RT Specialty), the wholesale …

Hannover Re Completes Purchase of Lloyd’s Business Argenta

Hannover Re has completed the acquisition of the UK holding company Argenta Holdings Ltd., which owns the companies Argenta Syndicate Management and Argenta Private Capital, as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121. The …

Talanx Acquires Generali’s Colombian Businesses for €30M (US$34.6M)

Talanx has acquired Generali Colombia Seguros Generales S.A. and its life insurance subsidiary, Generali Colombia Vida Compañia de Seguros S.A., for approximately €30 million (US$34.6 million) Generali explained that Talanx is acquiring 91.3 percent of Generali Seguros and 93.3 percent …

UK’s Aviva to Sell Asia/Middle East Life Unit to Focus on Core Markets

Aviva, Britain’s biggest life insurer, said it would sell Friends Provident International (FPIL), which provides life assurance and investment products in Asia and the Middle East, to a unit of International Financial Group for 340 million pounds ($443 million). The …

Alera Group Acquires Group Benefits of Memphis

Alera Group – an independent insurance agency and independent employee benefits – has acquired Group Benefits LLC of Memphis, Tennessee, effective July 1. Alan Levitz, CEO of Alera, said the company’s strong middle market presence in Memphis is a significant addition to …

Burand’s State of P/C Insurance Industry Part 2: How to Pick Winners as More Carriers Consolidate or Waste Away

Editor’s Note: This is the second of two articles by Burand based on his most recent 50-page whitepaper, State of the P&C Insurance Industry 2017. The whitepaper is available from Insurance Journal’s Research and Trends division here. The first article …

Symantec to Acquire Israeli Cyber Security Startup Fireglass

Symantec Corp. is acquiring Israeli cyber security startup Fireglass, the company said on Thursday, in a small deal designed to boost its products that protect corporate email and web browsing from threats. Symantec is paying an undisclosed sum for the Tel …

Fairfax Financial Completes $4.9 Billion Acquisition of Allied World

Fairfax Financial Holdings Ltd., the Toronto-based investment and insurance company, has successfully completed its acquisition of Allied World Assurance Co. Holdings, for US$4.9 billion – marking the company’s largest purchase yet. Indeed, Prem Watsa, chairman and chief executive officer, has …

AXIS Capital to Acquire Lloyd’s Specialty Re/Insurer Novae for $604 Million

AXIS Capital Holdings Ltd. announced it is acquiring Novae Group plc, a specialty re/insurer that operates through Lloyd’s of London. “The US$604 million transaction adds scale and breadth to the international specialty insurance business of AXIS, creating a $2 billion …

InsuranceHub Merges with CoverYou Insurance of Georgia

Gwinnett, Ga.-based InsuranceHub has merged with CoverYou Insurance, a tech-driven insurance agency located in nearby Lawrenceville. As a result of the merger, CoverYou’s five employees have moved to InsuranceHub’s new office in Lawrenceville, where it plans to add at least …