Business Moves and Mergers News

Verisk in Talks to Sell Health Data Unit to Carlyle Group: Reuters

Private equity firm Carlyle Group LP is in advanced talks to acquire the healthcare information technology division of U.S. data analytics company Verisk Analytics Inc., according to people familiar with the matter. Carlyle has so far prevailed in an auction …

K2 Insurance Acquires MGA, Launches Workers’ Comp, Accident Program with QBE

Program specialist K2 Insurance Services (K2) has acquired a New Jersey managing general agency specializing in workers’ compensation alternatives and also launched a nationwide workers’ compensation program with another Kentucky program manager and QBE North America. K2, which was formed …

Zurich Completes Acquisition of RCIS Crop Insurance Business from Wells Fargo

Zurich American Insurance Co. said it has completed its acquisition of Rural Community Insurance Agency (RCIA) and its subsidiary Rural Community Insurance Co. (RCIC) from Wells Fargo Insurance for $700 million. The two crop businesses, which are collectively known as …

The Hartford’s Grab of Maxum Specialty ‘Smart Move’: Analyst

The Hartford’s plan to pay $170 million in cash for excess and surplus lines insurer Maxum Specialty is a “smart move” that should help it grow its small commercial lines unit by getting more into new industry classes, says an …

The Hartford Expands E&S Capabilities with Acquisition of Maxum Specialty

The Hartford has agreed to purchase Northern Homelands Co., the holding company of excess and surplus lines insurer Maxum Specialty Insurance Group, for $170 million in cash. According to the announcement, Maxum will maintain its brand and wholesale distribution model …

China Insurer Anbang Offers $6.5 Billion to Buy Major U.S. Hotel Group

China’s Anbang Insurance Group has agreed to acquire Strategic Hotels & Resorts Inc. for around $6.5 billion, as the owner of New York’s iconic Waldorf Astoria expands its U.S. hotel portfolio, a person briefed on the matter said Saturday. The …

American Financial Offers to Buy Rest of Insurer National Interstate for $293M

About two years after withdrawing a similar offer, American Financial Group Inc. is proposing to acquire all of the outstanding common shares of specialty transportation insurer National Interstate Corp. that its subsidiary, Great American Insurance Co., does not already own. …

Hospitals Say Anthem-Cigna Merger Will Empower Blue Cross, Hurt Consumers

U.S. hospitals are stepping up their bid to stop Anthem Inc.’s takeover of rival health insurer Cigna Corp., saying the deal will increase the dominance of Blue Cross Blue Shield plans and potentially raise premiums for consumers. The enhanced bargaining …

MassMutual Agrees to Buy MetLife Retail Adviser Network for $300M

Massachusetts Mutual Life Insurance Co. agreed to buy MetLife Inc.’s adviser-force business and affiliated broker-dealer for about $300 million. Massachusetts Mutual Life Insurance Co. has agreed to buy MetLife Inc.’s adviser-force business and affiliated broker-dealer. According to documents filed with …

MassMutual Emerges as Potential Buyer of MetLife Retail Group

MetLife Inc., the life insurer that is reshaping its business mix to limit government oversight, is in talks with Massachusetts Mutual Life Insurance Co. about a possible sale of MetLife Premier Client Group, the company’s U.S. adviser force. The group …