Mergers and Acquisitions News

Investor Doubts Remain About Zurich’s $8.8B Tentative Offer for UK’s RSA

Zurich Insurance Group AG’s announcement that it’s considering a 5.6 billion-pound ($8.8 billion) offer for RSA Insurance Group plc is leaving investors in doubt that the takeover will happen at that price. RSA rose 4.6 percent to 517.5 pence at 4:17 p.m. in London …

Fitch: Downward Pricing Pressures in Reinsurance Market Begin to Slow

The reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, says Fitch Ratings in a new global sector report. Reinsurance pricing has experienced downward pressures …

Zurich Insurance Offers $8.8 Billion to Acquire UK’s RSA

Zurich Insurance Group AG, Switzerland’s largest insurer, proposed to buy the UK’s RSA Insurance Group plc for about 5.6 billion pounds ($8.8 billion). RSA is willing to recommend the possible offer of 550 pence a share to its shareholders provided satisfactory terms are met, …

Amlin’s CEO Philipps Dampens Market Rumors That Insurer Is for Sale

Amlin plc Chief Executive Officer Charles Philipps damped speculation that the Lloyd’s of London insurer is looking for a buyer, saying the firm is strong enough to remain independent. “We are not for sale, we are not running a sale …

Shareholders in UK’s RSA Bracing for Lowball Bid from Suitor Zurich Insurance

Shareholders in British insurer RSA are bracing for a lowball bid from prospective suitor Zurich Insurance, putting one of Europe’s largest ever insurance deals in doubt. After flagging its interest to the market on July 28, Zurich has until Tuesday …

Meadowbrook Insurance Acquires Mackinaw Administrators

Meadowbrook Insurance Group Inc., based in Southfield, Mich., has acquired Mackinaw Administrators LLC (Mackinaw). Founded in 1995, Mackinaw is a Michigan-based program and claims administrator that provides tailored insurance and risk management programs and other related services for both group …

Texas’ TCOR Management Forms New Agency, TIA-TCOR

TCOR Management, based in New Braunfels, Texas, announced it has formed a new insurance agency, TIA-TCOR LLC, dba Texas Insurance Agency. With Ben Reedy as principal, San Antonio-based TIA-TCOR provides insurance, risk management, surety and employee benefits to organizations across …

Illinois Agencies AAdvantage Insurance, Premier Insurance Merge

AAdvantage Insurance Group in Glen Carbon, Ill., led by founder Dave Viox, recently announced a merger with Premier Insurance Associates located in Edwardsville, Ill. Vince and Deb Valesano, former owners of Premier Insurance Associates, will also join AAdvantage Insurance Group. …

Higginbotham, Commercial Global Insurance Join Forces

Independent insurance broker Higginbotham, based in Fort Worth, and Commercial Global Insurance (CGI) are merging their operations in Friendswood, Texas. CGI is an independent broker in Deer Park, Texas. CGI will merge its five-person group into Higginbotham’s office in nearby Friendswood this month. Beginning in 2008, Higginbotham started a …

AIG, Other Insurers Avoid Offering Cover for Tax Risks in Indian M&As

Prime Minister Narendra Modi needs to offer much more than just his best intentions to clean up India’s whimsical tax regime to help convince insurers. Companies from Allianz SE to American International Group Inc. are avoiding offering tax-liability coverage in …