Business Moves & Mergers News

Aviva in $8.76 Billion Deal to Buy Friends Life after Pensions Shake-up

British insurer Aviva said on Friday it had agreed terms on a possible deal to buy rival Friends Life for £5.6 billion [$8.76 billion], as British pension reform puts pressure on insurance companies to find new business. Pension providers are …

Minnesota’s North Risk Partners Merges with Thune Insurance Network

St. Paul, Minn.-based independent insurance brokerage, North Risk Partners, announced it has merged with Thune Insurance Network, located in Northwest Minnesota with offices in Thief River Falls, Roseau and Baudette. The merger resulted in North Risk Partners’ growth to more than …

Arthur J. Gallagher Acquires Iowa-Based Miller-Harrison Insurance Services

Arthur J. Gallagher & Co. announced it has acquired Miller-Harrison Insurance Services in Muscatine, Iowa. Terms of the transaction were not disclosed. Founded in 1919, Miller-Harrison is a retail insurance broker providing commercial property/casualty, risk management consulting and personal lines insurance …

LeapFrog Buys Majority Stake in Kenya’s Resolution Insurance

LeapFrog Investments, the private equity firm with a focus on Africa and Asia, said it will pay 1.68 billion shillings ($18.6 million) to gain control of Kenya’s Resolution Insurance and tap growth in health coverage. LeapFrog will invest through Resolution …

AIG Global Real Estate Seeks $450 Million in Sale of South Korean Hotel

AIG Global Real Estate, a unit of American International Group Inc., is seeking at least $450 million from the sale of a luxury hotel in the South Korean capital, people with knowledge of the matter said. AIG’s Korean real estate …

U.K.’s Towergate Bonds Plunge on News of Takeover Bids

Towergate Finance plc’s high-yield bonds plunged to a record after Europe’s largest insurance broker said it received takeover offers. The company’s 304.6 million pounds ($475.5 million) of 10.5 percent notes fell 16 pence on the pound to 45 pence, the …

Integro Adds Aviation Expertise With Dewald and Team in Utah

Integro announced it’s enhancing its aviation practice with the addition of sector specialist Leslie DeWald as managing principal. DeWald and her team of four will be based in Park City, Utah. They specialize in aviation and aerospace insurance. DeWald previously …

FBinsure Acquires Gramlich Insurance Agency in Massachusetts

FBinsure, an independent insurance agency based in Taunton, Massachusetts, announced its acquisition of Gramlich Insurance Agency, an independent agency in New Bedford, Massachusetts. The terms of the transaction were not disclosed. Ray Gramlich, president of Gramlich Insurance Agency, will be …

CGSC to Rebrand London Insurance Brokerage Operations for 50th Year

Cooper Gay Swett & Crawford (CGSC) has announced the renaming of its London market brokerage businesses in advance of its 50th year of trading. From January 1st, 2015, CGNMB LLP will become the single united brand, combining Lloyd’s brokers Cooper …

York Risk Services Group Acquires RMPG in New York

York Risk Services Group Inc., a Parsippany, New Jersey-based provider of claims management, managed care, risk management and specialized loss adjusting services, has acquired Risk Management Planning Group (RMPG) in Mineola, New York. The terms of the transaction were not …