Mergers and Acquisitions News

Arthur J. Gallagher Acquires Texas-Based Ashmore & Associates Insurance

Arthur J. Gallagher & Co. has acquired Ashmore & Associates Insurance Agency Inc. headquartered in Lubbock, Texas. Terms of the transaction were not disclosed. Founded in 1984, Ashmore & Associates Insurance Agency Inc. (Ashmore) is a retail insurance broker providing property/casualty, …

UK’s Global Risk Partners Acquires Cavendish Munro Professional Risks

Global Risk Partners Ltd. (GRP), the insurance broking and managing general agent investment vehicle, has completed its acquisition of Cavendish Munro Professional Risks Ltd., the specialist retail broker. Cavendish Munro is a London-based professional indemnity (PI) specialist, focused primarily on …

Ohio’s Farmers National Bank Acquires Bowers Insurance

The Farmers National Bank of Canfield (Farmers), based in Canfield, Ohio, has acquired the Bowers Insurance Agency Inc. (Bowers Group). The transaction closed on June 1, 2016 and is expected to be accretive to earnings immediately. The Bowers Group will continue …

NFP Acquires Minnesota’s Benefits Solutions Plus

Insurance broker and consultant, NFP Corp. announced it has acquired Benefits Solutions Plus Inc. (BSP), based in Anoka, Minn. BSP is a benefits brokerage that specializes in providing group health plans and ancillary products for small – to mid-size employers. …

Disaster Recovery Firm Interstate Restoration Acquires Canada’s FirstOnSite

Interstate Restoration LLC, the Ft. Worth, Tex.-based disaster recovery company, has completed the acquisition of FirstOnSite Restoration G.P. Inc. in Canada. As Canada’s largest independent disaster restoration services provider with 35 branches across the country, FirstOnSite Restoration will continue to …

Midwest Risk Management Groups, Bearence and AERO, Form Partnership

Bearence Management Group, based in Des Moines, Iowa, and AERO Risk Management, headquartered in Minneapolis, Minn., have formed a strategic partnership to provide clients of both firms with access to expanded risk management and insurance placement capabilities. In conjunction with the agreement, …

Indiana Department of Insurance Approves Anthem’s Cigna Acquisition

The health insurer Anthem Inc. announced it has received approval from Indiana Department of Insurance Commissioner Stephen W. Robertson for the acquisition of Cigna HealthCare of Indiana Inc., a subsidiary of Cigna Corp. On July 23, 2015 Anthem and Cigna …

Digital Benefit Advisors Acquires Minnesota’s Corporate Health Systems

Digital Benefit Advisors (DBA) a national employee benefits firm, has acquired Corporate Health Systems of Eden Prairie, Minn., expanding its footprint in the Minneapolis/St. Paul area. Corporate Health Systems’ executives, Mick Hawton and Al Hofstede, along with their 42-member benefits …

Update: Skuld to Acquire SMA/Gerling Norway and Its Hull & Machinery Book

Skuld, the Oslo, Norway-based marine insurance provider, announced it has signed a letter of intent to purchase SMA/Gerling Norway. The transaction includes the acquisition of the renewal rights of the hull & machinery book of business written by Gerling Norway, owned …

Economical to Buy Largest Canada Pet Insurer, Western Financial Insurance Co.

Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced plans to acquire Desjardins Group’s pet insurance business, Western Financial Insurance Co. (WFIC) and its flagship brand Petsecure. WFIC is Canada’s largest pet insurance company with net …