Mergers and Acquisitions News

NAPSLO, AAMGA Members OK Merger; New Wholesale & Specialty Association Is Born

Members of the American Association of Managing General Agents (AAMGA) and the National Association of Professional Surplus Lines Offices (NAPSLO) have approved a merger of the two associations, creating the new Wholesale & Specialty Insurance Association (WSIA). According to the …

Hannover Re Completes Purchase of Lloyd’s Business Argenta

Hannover Re has completed the acquisition of the UK holding company Argenta Holdings Ltd., which owns the companies Argenta Syndicate Management and Argenta Private Capital, as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121. The …

General Indemnity Group Acquires Kansas’ Surety Support Services

General Indemnity Group LLC (GIG), a subsidiary of Boston Omaha Corp., has acquired Surety Support Services Inc., of Overland Park, Kansas. Tracing its origins back almost 40 years, Surety Support Services (SSS) provides surety-only services to contractors, insurance agents, brokers …

Talanx Acquires Generali’s Colombian Businesses for €30M (US$34.6M)

Talanx has acquired Generali Colombia Seguros Generales S.A. and its life insurance subsidiary, Generali Colombia Vida Compañia de Seguros S.A., for approximately €30 million (US$34.6 million) Generali explained that Talanx is acquiring 91.3 percent of Generali Seguros and 93.3 percent …

JenCap Holdings Acquiring Michigan’s Special Risks Facilities

JenCap Holdings LLC has agreed to acquire privately held Special Risks Facilities Inc., an MGA/contract binding authority and wholesale insurance brokerage firm based in Sterling Heights, Michigan. Special Risks was formed in 1971 and has been led by Jack Klebba …

UK’s Aviva to Sell Asia/Middle East Life Unit to Focus on Core Markets

Aviva, Britain’s biggest life insurer, said it would sell Friends Provident International (FPIL), which provides life assurance and investment products in Asia and the Middle East, to a unit of International Financial Group for 340 million pounds ($443 million). The …

U.S. Risk Insurance Group Acquires IMS London American

Property/casualty wholesaler, U.S. Risk Insurance Group LLC, has acquired Texas-based IMS London American Brokerage and Underwriting Services. IMS President Larry Mennes has been named president of U.S. Risk’s contract binding operations in Texas, and IMS’ Stephen Vallender has been appointed …

McGowan Acquires North American Professional Liability Insurance Agency

The McGowan Companies (McGowan), headquartered in Fairview Park, Ohio, announced it acquired North American Professional Liability Insurance Agency LLC (NAPLIA), effective April 1. NAPLIA will be re-branded under the McGowan Program Administrators brand and will function as a division of …

S&P Lowers Ratings of Allied World After Acquisition by Fairfax; Outlook Stable

S&P Global Ratings lowered its long-term counterparty credit and senior debt ratings on Allied World Assurance Co. Holdings AG to ‘BBB-‘ from ‘BBB+’, following the completion of the company’s acquisition last week by Fairfax Financial Holdings. At the same time, …

Symantec to Acquire Israeli Cyber Security Startup Fireglass

Symantec Corp. is acquiring Israeli cyber security startup Fireglass, the company said on Thursday, in a small deal designed to boost its products that protect corporate email and web browsing from threats. Symantec is paying an undisclosed sum for the …