Business Moves & Mergers News

Aetna’s Purchase of Humana OK’d by Illinois Insurance Regulator, with Condition

The Illinois Department of Insurance has approved Aetna Inc.’s proposed $34 billion acquisition of Humana Inc. provided it is approved by the U.S. Department of Justice, according to an order dated June 23 posted on the department’s website. Aetna announced …

QBE Weighs Brexit-Effect; Marsh Considers Some Brexit Scenarios

QBE Insurance Group announced this week that it will be reviewing its UK-based operations in light of last week’s vote in the UK to leave the European Union. “The referendum outcome may require a revised approach in relation to approximately …

NFP Completes Sale of Majority Stake in Kestra Financial to Stone Point Capital

NFP, an insurance broker and consultant, has completed the sale of a majority stake in Kestra Financial (Kestra) to funds managed by Stone Point Capital LLC (Stone Point), a private equity firm focused on investing in the financial services industry. …

XL Group’s Shareholders Approve Move to Bermuda from Ireland

XL Group plc announced that its ordinary shareholders have approved a scheme of arrangement that will change the place of incorporation of the ultimate parent holding company to Bermuda from Ireland, which is expected to be completed in the third …

Cross Insurance Buys Bardwell, Bowlby & Karem Agency in Berkshires

Cross Insurance has expanded its presence in western Massachusetts, New York and southern Vermont with the purchase of Pittsfield, Massachusetts-based independent insurance agency Bardwell, Bowlby & Karam, which has been serving the Berkshire area for 100 years. Terms of the acquisition are …

Massachusetts’ Rogers & Gray Acquires Albert Brock Co. on Nantucket

Cape Cod, Massachusetts-based Rogers & Gray Insurance has acquired the independent insurance agency, Albert G. Brock Co., located on Nantucket Island. The newly formed entity will now be known as Brock Insurance, a division of Rogers & Gray. The Brock …

Global Indemnity to Redomicile from Ireland to Caymans

Global Indemnity plc announced that its board of directors unanimously approved a plan to redomicile from Ireland to the Cayman Islands. Shareholders will be asked to vote in favor of completing the reorganization proposal at a special shareholders meeting. If …

Antares Launches Casualty Treaty Division with Appointment of Jarman

London-based Antares, a member of the QIC Group, has launched a casualty treaty offering with the appointment of Neil Jarman as casualty treaty manager. Jarman takes up his new role with immediate effect, reporting to Kieran Oliver, non marine underwriting …

Integro Acquires Equine Broker Jerry Parks Insurance Group in Florida

International broker and risk management firm Integro Insurance Brokers has added to its livestock coverage capabilities with the acquisition of Ocala, Florida-based corporations Jerry Parks Equine Insurance, Inc. and Parks Insurance Corporation. Financial details of the transactions have not been …

Aetna-Humana Deal Approved in California, with Conditions

The California Department of Managed Health Care approved Aetna Inc.’s acquisition of Humana Inc. with conditions including the insurer’s commitment to keeping premium increases at a minimum in the small group HMO business and to making about $50 million in …