Mergers and Acquisitions News

Worley Claims Services to Acquire Indiana-Based NCA Group

Hammond, La.-based insurance claims services provider, Worley Claims Services (Worley), is acquiring NCA Group Inc. (NCA), which provides daily and catastrophe residential and commercial property claims services throughout North America. NCA Group is headquartered in Indiana. Worley said the acquisition …

Zurich Insurance Confirms Offer for RSA – if Made – Would Be in Cash

Zurich Insurance Group AG said any offer for RSA Insurance Group would be in cash. Wednesday’s statement from Zurich means “there’s a very high likelihood that it will come through with an offer in the next few weeks.” said Ben Cohen, a London-based analyst …

PartnerRe Investors Should Vote Against Merger with AXIS: Glass Lewis

PartnerRe Ltd. investors should vote against a planned merger with rival reinsurer AXIS Capital Holdings Ltd., proxy adviser Glass Lewis & Co. said in a recommendation that’s a victory for hostile bidder EXOR SpA. “The liquidity, certainty and immediate premium of …

China Minsheng Investment to Acquire White Mountains’ Sirius for $2.2B

White Mountains Insurance Group Ltd. agreed to sell Sirius International Insurance Group Ltd. for about $2.2 billion to an arm of China Minsheng Investment Corp. The price for the reinsurer will be 127 percent of shareholders’ equity, plus $10 million, White Mountains said Monday in …

PartnerRe Holders Should Reject Merger with AXIS, Favor EXOR Deal, ISS Says

PartnerRe Ltd. investors should reject a planned merger with rival reinsurer AXIS Capital Holdings Ltd. and instead opt for a bid of more than $6.7 billion from Italy’s EXOR SpA, ISS Proxy Advisory Services said in a report. “A vote against …

Generali Acquires MyDrive Solutions, a UK Data Analysis Firm

Trieste-based Generali Group announced that it has acquired MyDrive Solutions, a UK company that uses data analytics tools to profile driving behavior. MyDrive Solutions, which was founded in 2010, specializes in identifying innovative and tailor-made products for customers as well …

DUAL Acquires Oliva Underwriting, UK-based MGA

DUAL, the underwriting arm of the Hyperion Insurance Group, announced it has acquired Oliva Underwriting, the UK-based MGA specializing in property & casualty, contractor trades and marine insurance. The acquisition forms a core part of DUAL’s UK commercial strategy, and will allow it …

AXIS CEO Halts Merger Activities as PartnerRe Seeks to Negotiate with EXOR

AXIS Capital Holdings Ltd. and PartnerRe Ltd. halted preparations for their planned merger after PartnerRe said it is seeking to negotiate with hostile bidder EXOR SpA. “As a result of this latest news, we have decided to suspend all integration-related work and activities,” AXIS …

Update: PartnerRe Reverses Stance, Seeks Talks with Hostile Bidder EXOR

PartnerRe Ltd., the reinsurer that agreed to merge with AXIS Capital Holdings Ltd., said it will enter negotiations with hostile bidder EXOR SpA after the Italian company’s latest cash offer for more than $6.7 billion. “The PartnerRe board has determined that the latest …

Update: EXOR Lifts PartnerRe Bid, Breaking Elkann Vow on Final Offer

EXOR SpA has raised its hostile bid for PartnerRe Ltd. months after saying it had made its final offer to break up the reinsurer’s merger with AXIS Capital Holdings Ltd. The latest proposal adds a special dividend of $3 a share, …