Insurance Journal » Mergers and Acquisitions http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 24 Apr 2015 17:14:00 +0000 en-US hourly 1 http://wordpress.org/?v=4.1.2 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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AmTrust Financial Services Completes CorePointe Insurance Acquisition http://www.insurancejournal.com/news/midwest/2015/03/03/359139.htm Tue, 03 Mar 2015 17:10:06 +0000 http://www.insurancejournal.com/?p=359139 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 …

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Amlin, Hiscox Say They Plan to Remain Independent Amid Flurry of M&As http://www.insurancejournal.com/news/international/2015/03/02/358973.htm Mon, 02 Mar 2015 15:26:33 +0000 http://www.insurancejournal.com/?p=358973 Lloyd’s of London insurers Amlin plc and Hiscox Ltd. both said they have enough scale to stay independent and see no need to find a buyer amid a flurry of deals in the industry. Both insurers reported lower full-year pretax …

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Associated Banc-Corp Completes Purchase of Ahmann & Martin Co. http://www.insurancejournal.com/news/midwest/2015/02/19/358105.htm Thu, 19 Feb 2015 17:59:16 +0000 http://www.insurancejournal.com/?p=358105 Green Bay, Wis.-based Associated Banc-Corp reported it has closed the previously announced acquisition of Ahmann & Martin Co., a risk and benefits consulting firm in Minnesota, through a merger with and into Associated’s subsidiary, Associated Financial Group LLC. Associated Financial Group …

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Confie Seguros Acquires Texas-Based Baja Auto Insurance http://www.insurancejournal.com/news/southcentral/2015/02/10/357057.htm Tue, 10 Feb 2015 17:07:30 +0000 http://www.insurancejournal.com/?p=357057 Confie Seguros, a national provider of personal lines insurance based in Huntington Beach, Calif., announced it has acquired Baja Auto Insurance, which provides auto insurance throughout Texas. Founded in 2006 with one store in Dallas, Baja has since grown organically …

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A.M. Best: Drivers Behind London Market M&A Activity to Continue http://www.insurancejournal.com/news/international/2015/02/10/357014.htm Tue, 10 Feb 2015 09:34:08 +0000 http://www.insurancejournal.com/?p=357014 The changing dynamics in the specialist property/casualty sector continue to encourage merger and acquisition activity in the London market. A new briefing from A.M. Best notes that the need for insurers to leverage analytical capabilities and increase line size is becoming increasingly …

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Houston-Based Broker, J.H. Blades, Acquires Energy Rival Burke-Daniels http://www.insurancejournal.com/news/southcentral/2015/02/09/356925.htm Mon, 09 Feb 2015 17:07:15 +0000 http://www.insurancejournal.com/?p=356925 J.H. Blades & Co. Inc., an energy-focused managing general agent based in Houston, announced it has purchased wholesale broker Burke-Daniels Co. Inc., which also specializes in the oil and gas energy sector. Terms of the deal were not disclosed. With …

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Hub International Acquires San Antonio-Based Alexander Insurance Agency http://www.insurancejournal.com/news/southcentral/2015/02/04/356445.htm Wed, 04 Feb 2015 17:42:03 +0000 http://www.insurancejournal.com/?p=356445 Chicago-based Hub International Limited (Hub), has acquired Alexander Insurance Agency (Alexander), headquartered in San Antonio, Texas. Alexander is an independent brokerage with a focus on commercial lines insurance for the commercial towing and transportation industries. Terms of the acquisition were not disclosed. Alexander …

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United Insurance Holdings Completes Family Security Acquisition http://www.insurancejournal.com/news/southcentral/2015/02/04/356442.htm Wed, 04 Feb 2015 17:31:00 +0000 http://www.insurancejournal.com/?p=356442 United Insurance Holdings Corp., a Florida-based property and casualty insurance holding company, has closed its acquisition of Family Security Holdings LLC (FSH) and its subsidiaries, which have operations in Hawaii and Louisiana. FSH has two wholly-owned subsidiaries: Family Security Insurance …

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4 CAA Agencies Expand Through M&As http://www.insurancejournal.com/news/southcentral/2015/01/30/355985.htm Fri, 30 Jan 2015 17:24:56 +0000 http://www.insurancejournal.com/?p=355985 Austin, Texas-based Combined Agents of America LLC (CAA) announced that member agencies have expanded their books of business and locations through mergers and acquisitions (M&A) over the last nine months. Together, four CAA members have grown their agencies by an …

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Associated Banc-Corp to Acquire Ahmann & Martin in Minnesota http://www.insurancejournal.com/news/midwest/2015/01/20/354556.htm Wed, 21 Jan 2015 00:21:07 +0000 http://www.insurancejournal.com/?p=354556 Associated Banc-Corp (Associated) announced it has entered into an agreement to acquire Ahmann & Martin Co., a risk and benefits consulting firm in Minnesota, through Associated’s subsidiary, Associated Financial Group. The transaction is expected to close in February. Associated Financial Group …

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Ohio’s Smith Insurance Services Partners with the Leavitt Group http://www.insurancejournal.com/news/midwest/2015/01/15/354244.htm Fri, 16 Jan 2015 02:56:24 +0000 http://www.insurancejournal.com/?p=354244 Ohio-based Smith Insurance Services Inc., along with Franchise Insurance Agency Inc., has entered into a partnership with the Leavitt Group. The agency will now be doing business as Smith & Leavitt Insurance Services and will continue to exclusively offer personal …

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California Surplus Lines up Considerably in 2014, Report Shows http://www.insurancejournal.com/news/west/2015/01/14/354104.htm Wed, 14 Jan 2015 23:49:01 +0000 http://www.insurancejournal.com/?p=354104 Premiums for California wholesalers rose considerably in 2014 from a year earlier, showing that segment of the industry outperformed the rest of the state’s economy, according to a report from the Surplus Lines Association of California. For 2014 there was …

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J. Mace Meeks Insurance Team Joins Insgroup in Houston http://www.insurancejournal.com/news/southcentral/2015/01/12/353787.htm Mon, 12 Jan 2015 17:46:25 +0000 http://www.insurancejournal.com/?p=353787 J. Mace Meeks has moved his insurance practice to Houston-based privately held insurance agency, Insgroup Inc., effective Jan.1, 2015. With 25 years of experience, Meeks and his team of nine professional associates bring to Insgroup their commitment to the highest …

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Western National Insurance, Michigan Millers Mutual Join Forces http://www.insurancejournal.com/news/midwest/2015/01/07/353212.htm Wed, 07 Jan 2015 17:50:11 +0000 http://www.insurancejournal.com/?p=353212 Minnesota-based Western National Insurance Group announced an affiliation between Michigan Millers Mutual Insurance Co. and Western National Mutual Insurance Co. This affiliation will be final after the necessary regulatory approvals are completed, which are expected to be done by the …

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DSP Insurance Services Acquires Willis of Illinois’ Schaumburg Office http://www.insurancejournal.com/news/midwest/2015/01/06/351819.htm Tue, 06 Jan 2015 17:43:28 +0000 http://www.insurancejournal.com/?p=351819 DSP Insurance Services, based in the Chicago area, announced the purchase of certain assets of Willis of Illinois’ Schaumburg office. The acquisition was finalized Dec. 31, 2014. John Adams, Bob Mielke, Jerry Olson and key staff personnel lead the team …

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Brown & Brown Subsidiary Acquires Hall-Wright General Agency http://www.insurancejournal.com/news/southcentral/2015/01/05/351696.htm Mon, 05 Jan 2015 17:04:15 +0000 http://www.insurancejournal.com/?p=351696 Brown & Brown Inc., through its subsidiary, Texas Security General Insurance Agency Inc., has acquired Hall-Wright General Agency Inc. (Hall-Wright) and related affiliate companies. With origins dating back to 1971, Hall-Wright is a managing general agency with annual revenues of …

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Hub International Acquires Iowa-Based Brokerage, Ruhl & Ruhl http://www.insurancejournal.com/news/midwest/2014/12/23/351027.htm Tue, 23 Dec 2014 17:34:41 +0000 http://www.insurancejournal.com/?p=351027 Global insurance broker, Hub International Limited (Hub), announced that its Chicago-area region Hub International Midwest (Hub Midwest) has acquired the assets of Ruhl & Ruhl Insurance, based in Davenport, Iowa. Terms of the acquisition were not disclosed. Founded in 1862, Ruhl …

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Donald Gaddis Co. Acquires Chicago-Based Kelly and Elliott http://www.insurancejournal.com/news/midwest/2014/12/19/350718.htm Fri, 19 Dec 2014 17:51:29 +0000 http://www.insurancejournal.com/?p=350718 Wholesale insurance broker and general agency, Donald Gaddis Co. Inc., has purchased rights to all the renewals of Kelly and Elliott Ltd. Both companies are headquartered in Chicago. Gaddis also hired all of Kelly and Elliott’s employees. The transaction was effective …

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Iowa’s Farmers Mutual Hail Insurance to Acquire John Deere Crop Insurance http://www.insurancejournal.com/news/midwest/2014/12/18/350573.htm Thu, 18 Dec 2014 17:43:32 +0000 http://www.insurancejournal.com/?p=350573 Farmers Mutual Hail Insurance Co. of Iowa (FMH) announced it is acquiring Moline, Ill.-based John Deere Insurance Co. and John Deere Risk Protection Inc. The action is a result of Deere’s previously announced review of strategic options for the crop insurance business. …

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INSURICA Acquired Oklahoma, California Agencies in Q3 2014 http://www.insurancejournal.com/news/southcentral/2014/12/09/349355.htm Tue, 09 Dec 2014 17:27:19 +0000 http://www.insurancejournal.com/?p=349355 Oklahoma City-based INSURICA Insurance Management Network announced it acquired an agency in Oklahoma and one in California during the third quarter of 2014. In Oklahoma, INSURICA added James & Associates, located in Tulsa. James & Associates has been in business for …

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A.M. Best: Asia-Pacific M&As Driven by Top-Line Growth Prospects http://www.insurancejournal.com/news/international/2014/12/03/348759.htm Wed, 03 Dec 2014 08:18:19 +0000 http://www.insurancejournal.com/?p=348759 The Asia-Pacific region has been a popular destination for mergers and acquisitions, driven by top-line growth prospects for many still-developing markets with low insurance penetration, according to a Best’s Special Report titled, “Asia-Pacific Mergers and Acquisitions Seen as More Balanced, Driven by …

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