Mergers and Acquisitions News

Willis CEO: Gras Savoye Acquisition Part of Strategy to Expand Global Reach

Willis Group Holdings plc, the third-largest insurance broker, offered to buy the 70 percent of Gras Savoye that it doesn’t already own to expand in France, Eastern Europe and the Middle East. Willis will pay 550 million euros ($590 million), a sum …

EXOR Shuns Hedge Fund Strategy With $6.4 Billion Buyout Plan of PartnerRe

The Agnelli family’s EXOR SpA, known for investments in cars and soccer, is dismissing the prevailing reinsurance strategies as it seeks to push into the industry with a $6.4 billion takeover. EXOR is shunning the idea that it should take …

Walkiewicz and Guo Appointed Willis Capital Markets & Advisory Co-CEOs

Willis Group Holdings has confirmed Rafal Walkiewicz and Michael Guo as co-CEOs to lead Willis Capital Markets & Advisory (WCMA), the firm’s insurance investment banking business. They will succeed Tony Ursano, who has led WCMA since 2009. “WCMA advises clients …

Fairfax Financial Agrees to Sell 30% Stake in Brit to Ontario Pension Fund

Fairfax Financial Holdings Ltd. will sell as much as 30 percent of Brit plc to the Ontario Municipal Employees Retirement System two months after agreeing to buy the Lloyd’s of London insurer for $1.88 billion. Fairfax said Wednesday it reached an …

Update: Italy’s EXOR Offers $6.4 Billion for PartnerRe in Threat to AXIS Deal

Italy’s billionaire Agnelli family, with a $6.4 billion unsolicited bid for PartnerRe Ltd., is seeking to thwart its target’s planned merger with AXIS Capital Holdings Ltd. EXOR SpA, the Turin-based investment company controlled by the family, offered $130 a share in cash, …

Iowa’s Farmers Mutual Hail, John Deere Insurance Close Acquisition

Farmers Mutual Hail Insurance Company of Iowa (FMH) announced its acquisition of Illinois-based John Deere Insurance Company and John Deere Risk Protection Inc. is complete Headquartered in West Des Moines, Iowa, FMH has served America’s farmers since 1893 with a combination of …

P/C Insurance M&As: Deal Value Up, More to Come

Merger and acquisition activity in the property/casualty industry is increasing in deal value and will likely expand from reinsurers to primary carriers, according to two new industry reports. Deloitte said that the average deal size in the sector grew more …

Texas Insurance Agencies Higginbotham, Aycock & Fowler Merge

Fort Worth, Texas-based Higginbotham and Aycock & Fowler, in Lubbock, Texas, have merged. Both are independent insurance firms providing property and liability insurance, risk management and employee benefit services to businesses and individuals. Higginbotham in recent years has expanded throughout Texas by …

Arthur J. Gallagher & Co. Acquires NationAir Aviation Insurance

Arthur J. Gallagher & Co. has acquired NationAir Aviation Insurance (NationAir) based in West Chicago, Ill. Terms of the transaction were not disclosed. Founded in 1978, NationAir is a retail insurance broker offering commercial property/casualty and risk management insurance services specifically …

AmTrust Financial Services Completes CorePointe Insurance Acquisition

AmTrust Financial Services Inc. has completed the acquisition of Michigan-based CorePointe Insurance Co. Established in 1964, and located in Birmingham, Mich., CorePointe is a specialty property/casualty insurance company that markets commercial package insurance products primarily to automobile and motorcycle dealerships …