Insurance Journal » Mergers and Acquisitions http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 31 Jul 2015 18:32:22 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.2 Worley Claims Services to Acquire Indiana-Based NCA Group http://www.insurancejournal.com/news/midwest/2015/07/30/377017.htm Thu, 30 Jul 2015 16:46:41 +0000 http://www.insurancejournal.com/?p=377017 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 …

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Zurich Insurance Confirms Offer for RSA – if Made – Would Be in Cash http://www.insurancejournal.com/news/international/2015/07/29/376607.htm Wed, 29 Jul 2015 11:29:13 +0000 http://www.insurancejournal.com/?p=376607 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 …

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PartnerRe Investors Should Vote Against Merger with AXIS: Glass Lewis http://www.insurancejournal.com/news/international/2015/07/28/376466.htm Tue, 28 Jul 2015 07:06:03 +0000 http://www.insurancejournal.com/?p=376466 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 …

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China Minsheng Investment to Acquire White Mountains’ Sirius for $2.2B http://www.insurancejournal.com/news/international/2015/07/27/376348.htm Mon, 27 Jul 2015 13:21:09 +0000 http://www.insurancejournal.com/?p=376348 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 …

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PartnerRe Holders Should Reject Merger with AXIS, Favor EXOR Deal, ISS Says http://www.insurancejournal.com/news/international/2015/07/27/376334.htm Mon, 27 Jul 2015 08:18:46 +0000 http://www.insurancejournal.com/?p=376334 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 …

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Generali Acquires MyDrive Solutions, a UK Data Analysis Firm http://www.insurancejournal.com/news/international/2015/07/24/376221.htm Fri, 24 Jul 2015 11:05:27 +0000 http://www.insurancejournal.com/?p=376221 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 …

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DUAL Acquires Oliva Underwriting, UK-based MGA http://www.insurancejournal.com/news/international/2015/07/24/376216.htm Fri, 24 Jul 2015 09:28:12 +0000 http://www.insurancejournal.com/?p=376216 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 …

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AXIS CEO Halts Merger Activities as PartnerRe Seeks to Negotiate with EXOR http://www.insurancejournal.com/news/international/2015/07/22/375977.htm Wed, 22 Jul 2015 10:24:04 +0000 http://www.insurancejournal.com/?p=375977 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 …

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Update: PartnerRe Reverses Stance, Seeks Talks with Hostile Bidder EXOR http://www.insurancejournal.com/news/international/2015/07/21/375884.htm Tue, 21 Jul 2015 13:05:16 +0000 http://www.insurancejournal.com/?p=375884 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 …

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Update: EXOR Lifts PartnerRe Bid, Breaking Elkann Vow on Final Offer http://www.insurancejournal.com/news/international/2015/07/20/375762.htm Mon, 20 Jul 2015 14:53:29 +0000 http://www.insurancejournal.com/?p=375762 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, …

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Gallagher Buys 65% of ARM Re, Colombian Energy & Construction Specialist http://www.insurancejournal.com/news/international/2015/07/20/375696.htm Mon, 20 Jul 2015 09:56:22 +0000 http://www.insurancejournal.com/?p=375696 Arthur J. Gallagher – the international division of Arthur J. Gallagher & Co. – has extended its investment in Latin America with a 65 percent shareholding in independent Colombian energy and construction specialist ARM Re Ltda (ARM). Other terms of …

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Timeline: Sweetened AXIS Bid Brings Battle for PartnerRe to Boiling Point http://www.insurancejournal.com/news/international/2015/07/20/375694.htm Mon, 20 Jul 2015 09:08:42 +0000 http://www.insurancejournal.com/?p=375694 The tussle between AXIS Capital Holdings Ltd. and EXOR SpA for control of Bermuda-based reinsurer PartnerRe Ltd. could be drawing to a close after a bidding war that began four months ago. AXIS and PartnerRe improved the terms of their deal yet again …

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Re/insurance Market Conditions Will Lead to More M&A Activity: A.M. Best http://www.insurancejournal.com/news/international/2015/07/20/375692.htm Mon, 20 Jul 2015 08:53:41 +0000 http://www.insurancejournal.com/?p=375692 Merger and takeover activity is likely to continue in the coming months as re/insurers increasingly seek ways to deploy capital and create scale against a backdrop of ongoing soft market conditions and weak investment returns, according to a special report …

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Willis to Acquire PMI Health Group, UK-Based Healthcare Adviser & Broker http://www.insurancejournal.com/news/international/2015/07/16/375344.htm Thu, 16 Jul 2015 07:21:25 +0000 http://www.insurancejournal.com/?p=375344 Willis Group Holdings plc announced an agreement to acquire PMI Health Group (PMIHG), an independent healthcare adviser and broker in the UK. Willis said the deal will significantly raise the company’s presence in the UK employee benefits and healthcare market, …

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Xuber’s Bermuda Roundtable White Paper Summarizes Executives’ View of M&A http://www.insurancejournal.com/news/international/2015/07/15/375054.htm Wed, 15 Jul 2015 10:29:31 +0000 http://www.insurancejournal.com/?p=375054 Xuber, Xchanging’s insurance software business, has gathered a report, which reveals that “insurance executives in Bermuda are questioning the long-term benefits of the current spate of mergers and acquisitions in the reinsurance and insurance market.” Xuber recently gathered a group …

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USI Acquires El Paso’s Alexander & Assoc. Insurance Services http://www.insurancejournal.com/news/southcentral/2015/07/14/374983.htm Tue, 14 Jul 2015 16:17:33 +0000 http://www.insurancejournal.com/?p=374983 USI Insurance Services (USI) has acquired the property/casualty business of Alexander & Associates Insurance Services LLC (Alexander & Associates) in El Paso, Texas. The Alexander & Associates team, including Jay D. Alexander, Alexander & Associates’ president, will join USI’s El …

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Hub International Acquires Kansas-Based Group Benefit Specialists http://www.insurancejournal.com/news/midwest/2015/07/14/374981.htm Tue, 14 Jul 2015 16:08:46 +0000 http://www.insurancejournal.com/?p=374981 Hub International Limited (Hub) has acquired Group Benefit Specialists (GBS), a Wichita, Kan.-based employee benefits brokerage. Terms of the acquisition were not disclosed. The GBS team will continue to operate from their existing office in Wichita. Mark Isley, president of GBS, …

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Fairfax Offers to Buy 26% of Indian Brokerage IIFL for $255 Million http://www.insurancejournal.com/news/international/2015/07/14/374911.htm Tue, 14 Jul 2015 11:33:55 +0000 http://www.insurancejournal.com/?p=374911 Fairfax India Holdings Corp., the $1 billion fund created by Toronto-based investor Prem Watsa, offered to buy 26 percent more in Indian brokerage IIFL Holdings Ltd.* for $255 million. Fairfax India announced an offer to purchase about 83.1 million shares …

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Liberty International to Expand Chilean Business with Purchase of Penta Security http://www.insurancejournal.com/news/international/2015/07/13/374867.htm Mon, 13 Jul 2015 18:36:33 +0000 http://www.insurancejournal.com/?p=374867 Liberty International Holdings Inc., member of the Liberty Mutual Insurance Group, announced the expansion of its presence in Chile by agreeing to acquire an additional insurance company, Compañia de Seguros  Generales Penta Security S.A., the fourth largest non-life insurer in …

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PartnerRe Weighs New Deal Terms with AXIS to Fend Off EXOR’s Rival Offer http://www.insurancejournal.com/news/international/2015/07/13/374793.htm Mon, 13 Jul 2015 07:38:34 +0000 http://www.insurancejournal.com/?p=374793 PartnerRe Ltd., seeking to fend off a hostile $6.8 billion cash bid from EXOR SpA, is weighing whether it can arrange new terms with rival reinsurer AXIS Capital Holdings Ltd. to preserve their planned merger. The two Bermuda-based insurers postponed shareholder votes …

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Munich Re’s ERGO May Cancel Purchase of Greek Insurer on Instability http://www.insurancejournal.com/news/international/2015/07/10/374665.htm Fri, 10 Jul 2015 10:38:21 +0000 http://www.insurancejournal.com/?p=374665 Munich Re’s ERGO Insurance unit may cancel its planned 90.1 million euro ($100 million) acquisition of Greece’s ATE Insurance SA if the country doesn’t return to stability. “Depending upon how the political situation develops, it is possible that we will exercise the right …

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Hedge Fund Sandell Criticizes PartnerRe for Shunning $6.8B EXOR Offer http://www.insurancejournal.com/news/international/2015/07/10/374652.htm Fri, 10 Jul 2015 08:02:06 +0000 http://www.insurancejournal.com/?p=374652 Sandell Asset Management Corp., the activist hedge-fund firm, amplified its criticism of PartnerRe Ltd. for shunning the unsolicited $6.8 billion takeover offer from EXOR SpA that would break up the reinsurer’s planned merger with AXIS Capital Holdings Ltd. “We believe …

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AXIS & PartnerRe Consider Sweetening $6.2B Merger Agreement: Sources http://www.insurancejournal.com/news/international/2015/07/09/374523.htm Thu, 09 Jul 2015 07:09:54 +0000 http://www.insurancejournal.com/?p=374523 Reinsurers AXIS Capital Holdings Ltd and PartnerRe Ltd are considering tweaking their $6.2 billion merger agreement in a bid to fend off a $6.8 billion offer for PartnerRe by EXOR SpA, people familiar with the matter said. The move would be a response …

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Marsh & McLennan Agency Enters Canadian Market with Purchase of Vézina http://www.insurancejournal.com/news/international/2015/07/08/374381.htm Wed, 08 Jul 2015 08:56:56 +0000 http://www.insurancejournal.com/?p=374381 Marsh & McLennan Agency LLC*, a subsidiary of Marsh, has acquired Vézina, a Montreal, Quebec-based independent insurance brokerage firm. The acquisition includes the property/casualty brokerage division Vézina Assurances Inc. and group benefits division Vézina & Associes. Terms of the transaction were …

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Integro Acquires Lemme Insurance Group in Illinois http://www.insurancejournal.com/news/midwest/2015/07/07/374349.htm Tue, 07 Jul 2015 23:44:07 +0000 http://www.insurancejournal.com/?p=374349 International insurance broker and risk management firm Integro Ltd. has acquired Lemme Insurance Group Inc., based in Arlington Heights, Ill. Details of the transaction were not disclosed. Lemme, a boutique insurance brokerage and consulting firm, was formed in 1998 by …

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Hortica Now a Member of Wisconsin’s Sentry Insurance Group http://www.insurancejournal.com/news/midwest/2015/07/07/374057.htm Tue, 07 Jul 2015 15:27:36 +0000 http://www.insurancejournal.com/?p=374057 Sentry Insurance, headquartered in Stevens Point, Wis., and Edwardsville, Ill.-based Hortica Insurance (Florists’ Mutual Insurance Company) have joined forces. After review and approval by both the Wisconsin Office of the Commissioner of Insurance and Illinois Department of Insurance, Hortica is …

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PartnerRe’s Ex-CEO: Shareholders Should Vote Against AXIS Merger Plan http://www.insurancejournal.com/news/international/2015/07/06/374097.htm Mon, 06 Jul 2015 08:32:51 +0000 http://www.insurancejournal.com/?p=374097 PartnerRe Ltd.’s former Chief Executive Officer Patrick Thiele said the reinsurer’s shareholders should vote against a planned merger with AXIS Capital Holdings Ltd. and called the cash offer from Italy’s EXOR SpA a better option. A combination with AXIS would …

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Redpoint Insurance Acquires Texas’ Safeway County Mutual http://www.insurancejournal.com/news/southcentral/2015/07/06/374054.htm Mon, 06 Jul 2015 05:14:56 +0000 http://www.insurancejournal.com/?p=374054 Redpoint Insurance Group LLC has acquired Safeway County Mutual Insurance Co. in Dallas, Texas. Terms of the transaction were not disclosed. Safeway County Mutual Insurance will operate under the name Redpoint County Mutual Insurance Co. Redpoint County Mutual will specialize …

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Marsh & Mclennan Agency Acquires J.W. Terrill in Missouri http://www.insurancejournal.com/news/midwest/2015/07/02/373842.htm Thu, 02 Jul 2015 05:55:45 +0000 http://www.insurancejournal.com/?p=373842 Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh, has acquired St. Louis, Mo.-based J.W. Terrill, one of the largest independent agencies in the Midwest. Terms of the transaction were not disclosed. This acquisition is MMA’s first in Missouri. …

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DUAL Enters Central, East European Market with Launch of DUAL Polska http://www.insurancejournal.com/news/international/2015/07/01/373634.htm Wed, 01 Jul 2015 11:47:48 +0000 http://www.insurancejournal.com/?p=373634 DUAL Group, the underwriting arm of Hyperion Insurance Group, announced its launch into Central and Eastern Europe (CEE), following the acquisition of the majority stake of Toruń, Poland-headquartered insurance specialist, Data Connect Direct (DCD). This acquisition, which creates DUAL Polska, …

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