Mergers and Acquisitions News

Digital Benefit Advisors Acquires Minnesota’s Corporate Health Systems

Digital Benefit Advisors (DBA) a national employee benefits firm, has acquired Corporate Health Systems of Eden Prairie, Minn., expanding its footprint in the Minneapolis/St. Paul area. Corporate Health Systems’ executives, Mick Hawton and Al Hofstede, along with their 42-member benefits …

Update: Skuld to Acquire SMA/Gerling Norway and Its Hull & Machinery Book

Skuld, the Oslo, Norway-based marine insurance provider, announced it has signed a letter of intent to purchase SMA/Gerling Norway. The transaction includes the acquisition of the renewal rights of the hull & machinery book of business written by Gerling Norway, owned …

Economical to Buy Largest Canada Pet Insurer, Western Financial Insurance Co.

Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced plans to acquire Desjardins Group’s pet insurance business, Western Financial Insurance Co. (WFIC) and its flagship brand Petsecure. WFIC is Canada’s largest pet insurance company with net …

Beazley Expands Marine Business by Buying Subsea Specialist Leviathan Facility

Beazley, a provider of specialist marine insurance, is expanding its marine offerings with the acquisition of London-based subsea specialist The Leviathan Facility. Beazley will acquire the majority of their existing book and renewal rights. In addition, principal Leviathan underwriters, Simon …

Gallagher Acquires Canadian Personal & Commericial Lines Broker, B.R. Rhymer

Arthur J. Gallagher has acquired B.R. Rhymer Insurance Agencies Ltd., a Canadian personal and commercial lines broker located in Winnipeg, Manitoba. The agreement will see the business, which has been operating under a franchise agreement since 1995, become wholly owned …

Chubb Offers 3 Transactional Risk Products in UK; Britain Named Team Leader

Chubb announced the launch of a suite of three transactional risk liability insurance products for clients in the UK, across Europe and other international markets outside North America. In addition, Richard Britain has been appointed head of Transactional Risk Insurance Solutions …

Great American Insurance Acquires Service Lloyds Texas Nonsubscription Business

Great American Insurance Group and Service Lloyds Insurance Co. announced the acquisition of Service Lloyds’ Texas nonsubscription book of business by Great American. The acquisition was effective April 29, 2016. The subject business represents approximately $5 to $7 million in …

Gallagher’s Artex Acquires Quest Holdings (Gibraltar), Expanding Europe Foothold

Bermuda-based Artex Risk Solutions* announced that it has acquired Quest Holdings (Gibraltar) Ltd., the largest insurance manager in Gibraltar. Founded in 2004, Quest specializes in providing services to insurance companies in Gibraltar, which provided the ability to operate throughout the …

CSC Completes Acquisition of UK’s Xchanging

CSC, the TYSONS, Va.-based technology solutions and services provider, announced it has completed the acquisition of Xchanging plc. “CSC and Xchanging together will create a leader in technology and business process services for the global insurance industry, significantly expanding CSC’s …

Japanese Insurers Expected to Continue U.S. Spending Spree: Investment Bankers

Japanese insurers made more than $18 billion worth of acquisitions in the U.S. last year, and their spending spree isn’t over yet, industry dealmakers said on Tuesday. Japan has a number of large, healthy insurers facing dim growth prospects at …