Mergers and Acquisitions News

Economical Completes Purchase of Canada’s Largest Pet Insurer

Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced the completion of its previously announced acquisition of Western Financial Insurance Co. (WFIC) and its flagship brand Petsecure from Desjardins Group. Concurrent with the acquisition, WFIC changed …

Ryan Specialty Group Buys Navigators’ Agency Operations in Sweden, Denmark

Ryan Specialty Group LLC has acquired The Navigators Group Inc.’s insurance agency operations in Sweden and Denmark. The transaction represents a 100 percent acquisition of Navigators’ Sweden and Denmark corporations, NUAL AB and Navigators A/S, respectively. Navigators’ local employees have …

Marsh Completes Acquisition of Bluefin Insurance from AXA

Marsh, the wholly owned subsidiary of Marsh & McLennan Cos., said it has completed the previously announced acquisition of Bluefin Insurance Group Ltd., a subsidiary of AXA UK plc, from AXA Group. Founded in 2008, Bluefin has approximately 1,500 colleagues …

Wisconsin’s AIS Technology, Maryland-Based Kite Tech Merging

Maryland-based Kite Technology Group and Wisconsin-based AIS Technology are merging their operations effective Jan. 2, 2017. The merged company will operate under the name Kite Technology Group. Nick Oliver, owner and president of AIS Technology, will join Kite Technology Group (KiteTech) …

Canada’s Fairfax Gets Approval to Buy 51% of India’s Catholic Syrian Bank

Value investor Prem Watsa’s Fairfax Financial Holdings Ltd. won regulatory approval to buy 51 percent of Catholic Syrian Bank Ltd., marking the first time India’s central bank is allowing a foreign investor to purchase a majority stake in a domestic …

Chinese M&A to Continue Despite Regulatory, Policy Hurdles: A.M. Best

While Chinese companies have been increasing their overseas merger and acquisition (M&A) activity in recent years, there are signs that growth could slow in the coming year, as a result of uncertain economic outlook and evolving government policies in China …

Fairfax Plans to Raise $1 Billion in IPO for Fund to Make Africa Investments

Fairfax Financial Holdings Ltd., the Canadian insurer that made its largest acquisition last week, is selling shares in an initial public offering for a fund that will make investments in Africa. The company is seeking to raise as much as …

NN Group Agrees to Acquire Dutch Insurer Delta Lloyd for $2.6B

NN Group NV agreed to buy Delta Lloyd NV for about 2.5 billion euros ($2.6 billion) after its earlier offer for the Dutch insurer was rejected. NN offered 5.40 euros a share in cash for Amsterdam-based Delta Lloyd, the companies …

Arthur J. Gallagher Acquires Louisiana’s Group Insurance Associates

Arthur J. Gallagher & Co. has acquired Group Insurance Associates Inc. in Metairie, Louisiana. Terms of the transaction were not disclosed. Founded in 1983, Group Insurance Associates Inc. (GIA) is an employee benefits insurance broker that provides all lines of group …

Higginbotham Expands with Insurance Associates of the Southwest Merger

Fort Worth-based independent insurance broker, Higginbotham, and Insurance Associates of the Southwest (IAS) have merged their operations in Houston. IAS is an independent broker with 38 commercial, personal, life, health and employee benefit professionals in its Energy Corridor office neighboring Higginbotham’s …