Mergers and Acquisitions News

Tokio Marine in Talks to Acquire RHB’s Non-Life Insurance Unit: Sources

Tokio Marine Holdings Inc, is in exclusive talks to buy RHB Bank’s general insurance unit in a deal that also includes an agreement to distribute the Japanese insurer’s products through the Malaysian lender, people familiar with the matter told Reuters. …

DSP Insurance Makes Acquisitions, Names Sulkowski President

Schaumburg, Ill.-based DSP Insurance Services has added employee benefits specialist, Nancy Vatch, along with her team of professionals, and acquired Cormac Benefits Group, led by Bill Storie. DSP also announced that Jim Sulkowski has been promoted to the position of …

Global Risk Partners Acquires UK-Based BB Insure

Global Risk Partners Ltd. (GRP) has acquired the commercial and personal insurance broker BB Insure, which has offices in the UK cities of Boston and Skegness. BB Insure’s management team will continue to lead the business and Rob Brooks, managing …

Echelon Insurance Agrees to Sell European Subsidiary

Echelon Financial Holdings Inc., an operator in the property/casualty insurance industry in Canada and Europe, primarily focused on providing non-standard automobile insurance and other niche and specialty insurance products, reported that it has entered into a definitive stock purchase agreement …

AXA to Sell Its Romanian Life & Savings Operations to Vienna Insurance Group

AXA said it has entered into an agreement with Vienna Insurance Group to sell its life & savings insurance operations in Romania and exit the Romanian market. Under the terms of the agreement, Vienna Insurance Group would acquire 100 percent of AXA Life Insurance …

Arthur J. Gallagher Acquires Texas-Based Victory Insurance Agency

Arthur J. Gallagher & Co. has acquired Victory Insurance Agency Inc., based in Pearland, Texas. Terms of the transaction were not disclosed. Founded in 1983, Victory Insurance Agency (Victory) is a retail insurance broker providing commercial property/casualty, employee benefits, risk management consulting …

Hub’s Totten Insurance Group Buys Canadian Resources Insurance Solutions

Totten Insurance Group, the Toronto-based managing general agency, announced that it has acquired the shares of Canadian Resources Insurance Solutions Inc. (CRIS), a Sudbury, Ontario-based insurance wholesaler. Terms of the acquisition were not disclosed. This strategic acquisition expands Totten’s footprint …

Cobbs Allen Opens New Orleans Office

Risk management firm Cobbs Allen has opened an office in New Orleans. The company is partnering with First Insurance in opening the office under the Cobbs Allen name. This will be the fourth office for the firm specializing in commercial …

Arthur J. Gallagher & Co. Acquires UK-Based Orb Financial Services Ltd. 

Arthur J. Gallagher & Co. announced the acquisition of Orb Financial Services Ltd. in Surrey, England. Terms of the transaction were not disclosed. Founded in 2007, Orb Financial Services is an employee benefits consultant and broker offering a full range of …

Correction: Catalina to Buy Hartford Financial Products International & Downlands Liability Management

(Editor’s Note: The original version of this article published yesterday, July 26, omitted “International” from the headline “Catalina to Buy Hartford Financial Products International & Downlands Liability Management.” Insurance Journal regrets the omission.) Catalina Holdings (Bermuda) Ltd. announced its wholly …