Mergers and Acquisitions News

Gallagher Buys 65% of ARM Re, Colombian Energy & Construction Specialist

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 …

Timeline: Sweetened AXIS Bid Brings Battle for PartnerRe to Boiling Point

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 …

Re/insurance Market Conditions Will Lead to More M&A Activity: A.M. Best

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 …

Willis to Acquire PMI Health Group, UK-Based Healthcare Adviser & Broker

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, …

Xuber’s Bermuda Roundtable White Paper Summarizes Executives’ View of M&A

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 …

USI Acquires El Paso’s Alexander & Assoc. Insurance Services

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 …

Hub International Acquires Kansas-Based Group Benefit Specialists

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, …

Fairfax Offers to Buy 26% of Indian Brokerage IIFL for $255 Million

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 …

Liberty International to Expand Chilean Business with Purchase of Penta Security

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 …

PartnerRe Weighs New Deal Terms with AXIS to Fend Off EXOR’s Rival Offer

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 …