Business Moves and Mergers News

Massachusetts-Based Landy Insurance Lands Certified Bookkeepers Group Account

ICBUSA, a Scottsdale, Ariz., based member of the Institute of Certified Bookkeepers (ICB), a London-headquartered professional membership organization for bookkeepers, and the Landy Insurance Agency of Needham, Mass., have formed a strategic partnership. Through the partnership, ICBUSA members will be offered …

WSJ: AIG May Sell Shares in Lloyd’s Unit Ascot to Canadian Pension Board

American International Group Inc. is in early talks to sell its minority stake in the Lloyd’s of London syndicate manager Ascot Underwriting Holdings Ltd. to Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported on Tuesday. If the …

New Jersey’s Holman Insurance Services Acquires Risk Partners

Holman Insurance Services LLC, a subsidiary of Maple Shade, N.J., based Holman Automotive Group Inc., has acquired Risk Partners Inc., a Medford, N.J., based commercial insurance brokerage and managing general underwriter. Following the acquisition, Risk Partners will continue to operate under …

Further Simplifying, AIG to Sell United Guaranty to Arch for $3.4 Billion

American International Group Inc. agreed to sell mortgage insurer United Guaranty Corp. to Arch Capital Group Ltd. as Chief Executive Officer Peter Hancock works to simplify his company and free up capital to return to shareholders. The deal is valued …

The Hartford Closes on $168M Acquisition of Maxum Specialty

The Hartford Insurance Group (HIG) has completed its acquisition of Maxum Specialty Insurance Group for $168 million in cash. The transaction, announced in March, closed on July 29. Maxum will maintain its brand and limited wholesale distribution model and will …

Cross Insurance Acquires Maine’s Sargent, Tyler & West

Maine’s Cross Insurance reported it has acquired another leading Maine insurance agency, Sargent, Tyler & West in Bangor, and its Bucksport branch office, Roland Grindle Insurance Agency. Sargent, Tyler & West has been in business for nearly 200 years. Michael …

Verisk Analytics Deepens Its Energy Industry Presence with Acquisition of Greentech Media

Data provider Verisk Analytics Inc. is continuing to grow beyond its insurance industry roots with the announcement it will acquire Greentech Media Inc., an information services provider for the solar electricity and clean energy sector. Greentech Media will become part …

Integro Acquires Equine Broker Jerry Parks Insurance Group in Florida

International broker and risk management firm Integro Insurance Brokers has added to its livestock coverage capabilities with the acquisition of Ocala, Florida-based corporations Jerry Parks Equine Insurance, Inc. and Parks Insurance Corporation. Financial details of the transactions have not been …

Zurich to Sell General Insurance Operations in Taiwan to Hotai Motor

Zurich Insurance will sell its general insurance operations in Taiwan to Hotai Motor Co. Ltd., with the business to become part of the Hotai Group, subject to approvals and conditions from the supervisory regulator. Hotai Motor Co. Ltd. has become …

CEO’s Departure at Mortgage Insurer Radian May be Rival’s Opportunity to Acquire: Analyst

Essent Group Ltd. may have an opportunity to buy Radian Group Inc., the rival mortgage insurer whose chief executive officer is stepping down, an analyst at BTIG LLC said. “Radian has no clear successor,” for S.A. Ibrahim, who said last …