Mergers and Acquisitions News

Japanese Insurers Expected to Continue U.S. Spending Spree: Investment Bankers

Japanese insurers made more than $18 billion worth of acquisitions in the U.S. last year, and their spending spree isn’t over yet, industry dealmakers said on Tuesday. Japan has a number of large, healthy insurers facing dim growth prospects at …

USI Insurance Services Acquires Hanratty & Associates in Minnesota

USI Insurance Services (USI) has acquired Hanratty & Associates Inc., headquartered in Plymouth, Minn. Hanratty & Associates has been providing employee benefits and consulting for nearly 40 years. The employees will remain at the company’s current Plymouth location. Terms of …

Arthur J. Gallagher Acquires Arkansas Agency, Hagan Newkirk

Arthur J. Gallagher & Co.  has acquired Hagan Newkirk Financial Services in Little Rock, Ark.  Terms of the transaction were not disclosed. With operations dating back to the 1960s, Hagan Newkirk Financial Services (Hagan Newkirk) is a retail insurance broker offering employee benefit consultation …

Global Risk Partners Funds Acquisition of McGrady Ltd. in Northern Ireland

Global Risk Partners Ltd. (GRP), the London-based insurance broking and managing general agent investment vehicle, has completed its second transaction in Northern Ireland by funding the acquisition of broker McGrady Ltd. by Abbey Bond Lovis Ltd. (ABL), a GRP subsidiary. …

Aegon to Acquire BlackRock’s U.K. Defined-Contribution Pension Business

Aegon NV agreed to buy BlackRock Inc.’s U.K. defined-contribution pension business to bolster its position in the country’s workplace-savings market. The deal will transfer 12 billion pounds ($17.6 billion) of assets under management and 350,000 customers to the Hague-based company, …

Prime Risk Partners to Acquire Large Midwest Agency

Prime Risk Partners Inc. reported it has entered into an agreement to acquire Old National Insurance (ONI), a large independent insurance agency in the Midwest. ONI will operate under the name ONI Risk Partners and will retain all of its …

Unaddressed Cultural Clashes Cause Many M&A Failures: Willis Towers Watson

Many insurers see cultural integration as a major post-deal challenge, but few use employee engagement as an indicator of integration success, according to a survey of senior insurance executives conducted by Willis Towers Watson M&A Risk Consulting in conjunction with …

AmTrust Seeks to Boost Lloyd’s Presence with Purchase of Specialty Insurer ANV

AmTrust Financial Services said it has agreed to buy specialty insurance company ANV Holdings B.V. and its Lloyd’s affiliates for $218.7 million in cash. The seller is the Ontario Teachers’ Pension Plan. As part of the acquisition deal, AmTrust said …

White Mountains Closes $2.6B Sale of Sirius to China Minsheng Investment

White Mountains Insurance Group Ltd. completed its $2.6 billion sale of Sirius International Insurance Group to a division of China Minsheng Investment Corp. Ltd., nine months after the deal was first announced.Out of that total, White Mountains used $160 million to …

Arthur J. Gallagher Acquires Insurance Plans Agency in Illinois

Arthur J. Gallagher& Co. has acquired Insurance Plans Agency Inc. in South Barrington, Ill. Terms of the transaction were not disclosed. Established in 1983, Insurance Plans Agency Inc. (IPA) is a retail insurance broker providing group employee benefits products and consulting …