Mergers and Acquisitions News

Hub International Buys Toronto-Based HSBI Benefits

Hub International Ltd., the Chicago-based global insurance brokerage, announced it has acquired HSBI Benefits Inc. Terms of the acquisition were not disclosed. Based in Toronto, Ontario, Canada, HSBI Benefits specializes in employee benefits insurance solutions. Curtis McCone, president of HSBI …

Nexus Acquires Beacon, Hong Kong-Based Marine MGA

Nexus Underwriting Management Ltd. has acquired 100 percent of the shareholding in Hong Kong-domiciled Beacon Underwriters Ltd., a marine managing general agent. Beacon was established in 2009 as a Lloyd’s coverholder to write marine cargo, hull and machinery and ports …

Arthur J. Gallagher Buys Brim, Expanding Scandinavia Specialty Footprint

Arthur J. Gallagher has extended its investment in Scandinavia by acquiring an 85 percent stake in Swedish specialist insurance and reinsurance broker Brim AB. With revenues of US$11.4 million and employing 29 people, Brim is a specialty broker with approximately …

NFP Acquires Utah’s First West Brokerage Services

National insurance broker and consultant, NFP Corp., has acquired First West Brokerage Services Inc. (First West), based in Orem, Utah. Founded in 1987, First West is a full service benefits insurance broker and consultant specializing in group health plans with …

Zurich Buys MAA Takaful Berhad, Expanding in Malaysia Takaful Market

Zurich Insurance Co. Ltd., a subsidiary of Zurich Insurance Group, has completed the acquisition of MAA Takaful Berhad (MAAT), a leading provider of Takaful products in Malaysia, from MAA Group Berhad and Solidarity Group Holding BSC. The combination of MAAT’s …

Aetna’s Purchase of Humana OK’d by Illinois Insurance Regulator, with Condition

The Illinois Department of Insurance has approved Aetna Inc.’s proposed $34 billion acquisition of Humana Inc. provided it is approved by the U.S. Department of Justice, according to an order dated June 23 posted on the department’s website. Aetna announced …

Aetna-Humana Deal Approved in California, with Conditions

The California Department of Managed Health Care approved Aetna Inc.’s acquisition of Humana Inc. with conditions including the insurer’s commitment to keeping premium increases at a minimum in the small group HMO business and to making about $50 million in …

Risk Strategies Acquires Dallas-Based McLaughlin Brunson Agency

National insurance brokerage and risk management firm, Risk Strategies Company, has acquired Dallas-based McLaughlin Brunson Insurance Agency. McLaughlin Brunson provides insurance products and services to architects, engineers and certified professional accountants in Texas and Oklahoma. The firm will be known …

Houston-Based The Stevenson Group Acquired by Digital Benefit Advisors

National employee benefits firm, Digital Benefit Advisors (DBA), has acquired its second Houston-based firm, The Stevenson Group. Principals Brian and Audrey Stevenson, along with their 16-member team will continue servicing clients of the firm which has been providing professional services …

Allianz Plans to Purchase Zurich’s Moroccan Division for $275M

Allianz Group plans to pay more than $275 million for Zurich Insurance’s Moroccan subsidiary. The deal for Zurich Assurances Maroc is expected to close at the end of 2016, pending regulatory approvals. Zurich’s sale of its Moroccan division follows a …