Business Moves and Mergers News

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 …

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. …