Insurance Journal » Mergers and Acquisitions http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 29 May 2015 23:41:55 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.2 Fosun’s Equity Deals to Intensify as It Seeks to Fund Acquisition Ambitions http://www.insurancejournal.com/news/international/2015/05/29/369896.htm Fri, 29 May 2015 07:27:50 +0000 http://www.insurancejournal.com/?p=369896 A $1.2 billion share sale by Fosun International Ltd. this month was likely only the start of a love affair with equity deals, bankers say, as the Chinese conglomerate seeks to cut reliance on debt to fund its huge acquisition …

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PartnerRe Board Slammed by Activist Hedge Fund for Rejecting EXOR Bid http://www.insurancejournal.com/news/international/2015/05/22/369210.htm Fri, 22 May 2015 23:07:46 +0000 http://www.insurancejournal.com/?p=369210 Sandell Asset Management Corp., the activist hedge-fund firm run by Tom Sandell, said PartnerRe Ltd. directors hurt shareholders by pushing a merger with AXIS Capital Holdings Ltd. rather than talks with a hostile bidder. “We will not hesitate to exercise the rights …

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PartnerRe Shareholders to Decide on AXIS Bid; Board Rejects EXOR Offer http://www.insurancejournal.com/news/international/2015/05/22/369096.htm Fri, 22 May 2015 11:44:49 +0000 http://www.insurancejournal.com/?p=369096 PartnerRe Ltd. said in a statement on Friday that its suitor EXOR has rejected any negotiations to raise its $6.8 billion hostile offer. As a result, the Bermuda-based PartnerRe said it will ask shareholders to vote on the planned merger with …

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EXOR Refuses to Sweeten $6.8 Billion Offer to Acquire PartnerRe http://www.insurancejournal.com/news/international/2015/05/22/369079.htm Fri, 22 May 2015 08:16:15 +0000 http://www.insurancejournal.com/?p=369079 EXOR SpA, the investment vehicle of Italy’s Agnelli family, reiterated that it won’t sweeten a $6.8 billion offer to buy PartnerRe Ltd. as the reinsurer demands a higher price to abandon a merger deal with AXIS Capital Holdings Ltd. EXOR …

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AXIS Says Termination Fee Would Soften Blow if PartnerRe Deal Collapses http://www.insurancejournal.com/news/international/2015/05/21/368937.htm Thu, 21 May 2015 05:50:10 +0000 http://www.insurancejournal.com/?p=368937 AXIS Capital Holdings Ltd. Chief Executive Officer Albert Benchimol, who’s working to complete a merger with PartnerRe Ltd., said his company can withstand a collapse of the deal and that a termination fee would soften the blow. “We intend to …

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Update: PartnerRe Says $6.8B EXOR Offer Unacceptable; Open to Negotiations http://www.insurancejournal.com/news/international/2015/05/20/368813.htm Wed, 20 May 2015 13:29:06 +0000 http://www.insurancejournal.com/?p=368813 PartnerRe Ltd. said it would engage in discussions with hostile bidder EXOR SpA to seek a better offer than the $6.8 billion proposal that the target company called “unacceptable.” “While we believe that PartnerRe is worth materially more than EXOR …

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IRS Scrutiny of Offshore Tax Avoidance Repels Bids for Bermuda Reinsurers http://www.insurancejournal.com/news/national/2015/05/19/368638.htm Tue, 19 May 2015 12:58:47 +0000 http://www.insurancejournal.com/?p=368638 The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory …

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A.M. Best: Middle Eastern Insurance Market Primed for M&As, Stakebuilding http://www.insurancejournal.com/news/international/2015/05/18/368486.htm Mon, 18 May 2015 08:04:54 +0000 http://www.insurancejournal.com/?p=368486 Merger and acquisition (M&A) activity and stakebuilding is gaining momentum in the Middle East as financially strong and profitable insurers seek to deploy surplus capital to broaden their profiles and satisfy shareholders’ expectations, according to a briefing issued by A.M. …

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Integro Acquires UK’s Kite Warren & Wilson, Marine Broker Specialist http://www.insurancejournal.com/news/international/2015/05/15/368318.htm Fri, 15 May 2015 14:06:51 +0000 http://www.insurancejournal.com/?p=368318 Integro Ltd., an insurance brokerage and risk management firm based in New York City, has acquired London-based Kite Warren & Wilson Ltd., which specializes in marine hull & liability coverage and financial lines. Financial details of the transaction have not …

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Italy’s Agnellis: Billionaire Family Behind PartnerRe Takeover Battle http://www.insurancejournal.com/news/international/2015/05/13/368024.htm Wed, 13 May 2015 06:43:04 +0000 http://www.insurancejournal.com/?p=368024 The billionaire Agnellis will become more interested in hurricane damage and less dependent on sales of Alfa Romeo sports cars and CNH tractors if their $6.8 billion bid for reinsurer PartnerRe Ltd. is successful. PartnerRe, which assumes risks for natural …

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PartnerRe Is Reviewing Enhanced Rival Bid From EXOR http://www.insurancejournal.com/news/international/2015/05/13/368021.htm Wed, 13 May 2015 06:19:49 +0000 http://www.insurancejournal.com/?p=368021 Bermuda-based PartnerRe Ltd. has confirmed it has received a revised offer from EXOR SpA to acquire all of the outstanding common shares of the company for $137.50 per share in cash. Consistent with its fiduciary duties and subject to the …

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EXOR Raises Bid for PartnerRe by 5.8%, Aiming to Overcome Rival AXIS Offer http://www.insurancejournal.com/news/international/2015/05/12/367710.htm Tue, 12 May 2015 11:44:39 +0000 http://www.insurancejournal.com/?p=367710 EXOR SpA upped the ante in the takeover battle for PartnerRe Ltd., raising its bid by 5.8 percent to overcome a rival offer from AXIS Capital Holdings Ltd. EXOR, the investment vehicle of Italy’s billionaire Agnelli family, now plans to pay …

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Candid Investigation Services Acquired by Patriot National http://www.insurancejournal.com/news/southcentral/2015/05/11/367552.htm Mon, 11 May 2015 16:25:01 +0000 http://www.insurancejournal.com/?p=367552 Patriot National Inc., based in Fort Lauderdale, Fla., has acquired Candid Investigation Services LLC, an insurance risk management firm that operates in New Mexico and Texas. Candid Investigation Services provides evidence that increases subrogation recovery rates. Candid will become part …

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Constellation Acquiring Medical Professional Liability Insurer Arkansas Mutual http://www.insurancejournal.com/news/southcentral/2015/05/06/367114.htm Wed, 06 May 2015 16:43:08 +0000 http://www.insurancejournal.com/?p=367114 Constellation, a mutual holding company, announced that Little Rock-based medical professional liability insurance provider, Arkansas Mutual Insurance Co., is joining its family of companies. Arkansas Mutual will be the third Constellation member company, joining MMIC and UMIA. The terms of …

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Risk Strategies Acquires Chicago-Based Northwest Comprehensive http://www.insurancejournal.com/news/midwest/2015/05/06/367112.htm Wed, 06 May 2015 16:36:34 +0000 http://www.insurancejournal.com/?p=367112 Boston-based insurance brokerage and risk management firm, Risk Strategies Co., has acquired Northwest Comprehensive Inc., a full service employee benefits insurance brokerage and consulting firm headquartered in Chicago. John Cerasani, Northwest Comprehensive president and founder, will continue to manage Northwest …

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EXOR Bid for PartnerRe Still Has Legs as Shareholders Weigh Offers: Real M&A http://www.insurancejournal.com/news/international/2015/05/05/366830.htm Tue, 05 May 2015 17:49:51 +0000 http://www.insurancejournal.com/?p=366830 PartnerRe Ltd. is betting the value of a merger with AXIS Capital Holdings Ltd. is worth more in the long run than an extra few dollars a share now. Shareholders may not agree. The Bermuda-based reinsurer on Monday chose a …

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Oklahoma-Based The Holmes Organisation Acquired by Hub http://www.insurancejournal.com/news/southcentral/2015/05/04/366759.htm Mon, 04 May 2015 16:31:31 +0000 http://www.insurancejournal.com/?p=366759 Hub International Limited (Hub) subsidiary Hub International Midwest Limited (Hub Midwest) has acquired the assets of The Holmes Organisation (Holmes), a Tulsa, Okla.-based multi-line property and casualty, employee benefits and personal lines brokerage. Terms of the acquisition were not disclosed. The …

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Updated: China’s Fosun to Buy Remaining Shares in Ironshore for $1.84B http://www.insurancejournal.com/news/international/2015/05/04/366696.htm Mon, 04 May 2015 06:57:52 +0000 http://www.insurancejournal.com/?p=366696 Fosun International Ltd., the investment arm of China’s biggest closely held conglomerate, is planning a $1.84 billion merger with Ironshore Inc. after buying the shares it doesn’t already own in the Bermuda-based insurer. Fosun’s unit Mettlesome Investment 2 will combine …

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Arthur J. Gallagher Acquires Midwest Healthcare Consulting Firm http://www.insurancejournal.com/news/midwest/2015/05/01/366598.htm Fri, 01 May 2015 16:46:21 +0000 http://www.insurancejournal.com/?p=366598 Itasca, Ill.-based Arthur J. Gallagher & Co. has acquired Integrated Healthcare Strategies located in Kansas City, Mo., and Minneapolis, Minn. Terms of the transaction were not disclosed. With operations dating back to 1974, Integrated Healthcare Strategies (Integrated) provides strategic human resources consulting services specifically …

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U.K. Intermediaries Hyperion and R K Harrison Complete Merger http://www.insurancejournal.com/news/international/2015/05/01/366514.htm Fri, 01 May 2015 10:02:39 +0000 http://www.insurancejournal.com/?p=366514 London-based intermediaries Hyperion Insurance Group Limited* and R K Harrison Holdings Limited (RKH) have completed the merger of their two businesses, following receipt of applicable regulatory and legal approvals. Acquiring 100 percent of the share capital of RKH, Hyperion has …

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Meadowbrook Insurance Shareholders Approve Acquisition by Fosun http://www.insurancejournal.com/news/midwest/2015/04/28/365821.htm Tue, 28 Apr 2015 15:51:40 +0000 http://www.insurancejournal.com/?p=365821 Meadowbrook Insurance Group, Inc., headquartered in Southfield, Mich., announced that the group’s shareholders have formally approved the pending acquisition of Meadowbrook by Fosun International Limited. In late December 2014, Fosun, a Chinese investment group agreed to acquire Meadowbrook for approximately …

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Willis CEO: Gras Savoye Acquisition Part of Strategy to Expand Global Reach http://www.insurancejournal.com/news/international/2015/04/23/365385.htm Thu, 23 Apr 2015 08:06:45 +0000 http://www.insurancejournal.com/?p=365385 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 …

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EXOR Shuns Hedge Fund Strategy With $6.4 Billion Buyout Plan of PartnerRe http://www.insurancejournal.com/news/international/2015/04/17/364809.htm Fri, 17 Apr 2015 09:11:16 +0000 http://www.insurancejournal.com/?p=364809 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 …

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Walkiewicz and Guo Appointed Willis Capital Markets & Advisory Co-CEOs http://www.insurancejournal.com/news/international/2015/04/16/364647.htm Thu, 16 Apr 2015 10:31:15 +0000 http://www.insurancejournal.com/?p=364647 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 …

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Fairfax Financial Agrees to Sell 30% Stake in Brit to Ontario Pension Fund http://www.insurancejournal.com/news/international/2015/04/15/364374.htm Wed, 15 Apr 2015 11:15:01 +0000 http://www.insurancejournal.com/?p=364374 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 …

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Update: Italy’s EXOR Offers $6.4 Billion for PartnerRe in Threat to AXIS Deal http://www.insurancejournal.com/news/international/2015/04/14/364293.htm Tue, 14 Apr 2015 17:45:36 +0000 http://www.insurancejournal.com/?p=364293 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, …

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Iowa’s Farmers Mutual Hail, John Deere Insurance Close Acquisition http://www.insurancejournal.com/news/midwest/2015/04/01/362970.htm Wed, 01 Apr 2015 16:57:26 +0000 http://www.insurancejournal.com/?p=362970 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 …

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P/C Insurance M&As: Deal Value Up, More to Come http://www.insurancejournal.com/news/national/2015/03/17/360794.htm Tue, 17 Mar 2015 13:47:10 +0000 http://www.insurancejournal.com/?p=360794 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 …

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Texas Insurance Agencies Higginbotham, Aycock & Fowler Merge http://www.insurancejournal.com/news/southcentral/2015/03/04/359340.htm Wed, 04 Mar 2015 17:16:20 +0000 http://www.insurancejournal.com/?p=359340 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 …

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Arthur J. Gallagher & Co. Acquires NationAir Aviation Insurance http://www.insurancejournal.com/news/midwest/2015/03/04/359328.htm Wed, 04 Mar 2015 17:11:12 +0000 http://www.insurancejournal.com/?p=359328 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 …

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