Business Moves & Mergers News

Integro Acquires E&O Specialist Firm in California

Integro Ltd. has acquired E&O Professional Risk Management and Insurance Services Inc. of Mission Viejo, Calif. Terms of the deal were not disclosed. E&O Pros founder and CEO Sheri Pontolillo will lead the E&O Pros group within Integro and report …

AssuredPartners Acquires Amtech Insurance Brokers in New York

AssuredPartners Inc. has acquired Amtech Insurance Brokers in Latham, New York. Terms of the transaction were not disclosed. Amtech has been providing commercial insurance and risk management services for businesses for the past 22 years. Its industry specialties include construction, …

Navigators Launches Lloyd’s-Based International Casualty Unit

The Navigators Group, Inc. announced that Navigators Underwriting Agency Ltd., its wholly owned Lloyd’s managing agency subsidiary, has created an International Casualty unit, which will “offer a range of liability solutions across three main product lines: General Liability, Environmental Impairment …

ACE Launches Luxury Goods Practice for Continental Europe

ACE Group announced the launch of a new luxury goods practice across Continental Europe. The launch of the practice follows research by ACE where almost six in ten European luxury goods companies taking part reported that globalization has increased the …

Hilton Closes $1.95B Waldorf Astoria Sale to Anbang Insurance

Hilton Worldwide Holdings Inc. announced last week that it has closed its previously-announced sale of the Waldorf Astoria New York hotel to Beijing-based Anbang Insurance Group Co. Ltd. for $1.95 billion. As part of its long-term relationship with Anbang, Hilton …

RSA Sells 26% Holding in India’s Royal Sundaram Alliance Insurance

RSA Insurance Group plc announced that it agreed the sale of its 26 percent holding in Indian insurer Royal Sundaram Alliance Insurance Company Limited to Sundaram Finance Limited, its joint venture partner. RSA expects to receive cash consideration of approximately …

Arthur J. Gallagher Acquires Cohn Financial in Arizona

Arthur J. Gallagher & Co. has acquired Cohn Financial Group LLC located in Phoenix, Ariz. Terms of the deal were not disclosed. Michael Cohn and his associates will continue to operate in their current location under the direction of Norbert Chung, head of …

Lancashire Seen as Target as Lloyd’s Consolidation Trend Continues

Lloyd’s of London insurers Lancashire Holdings plc and Novae Group plc may be the next in line for takeover offers after Brit plc became the second U.K. firm within weeks to be acquired. Lancashire, which gained access to the world’s …

China’s Anbang Insurance to Recapitalize Vivat, Former SNS Reaal Unit

Anbang Insurance Group Co., which bought New York’s Waldorf Astoria Hotel, will increase the capital of Dutch insurer Vivat by as much as 1 billion euros ($1.14 billion) after agreeing to buy the company. Anbang, based in Beijing, won Dutch …

Canada’s Fairfax to Acquire London-Based Brit for $1.88 Billion

Fairfax Financial Holdings, the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit plc for some $1.88 billion to become one of the top five underwriters on the Lloyd’s of London market. Watsa, …