Business Moves & Mergers News

Humana to Exit Workers’ Compensation with Sale of Concentra

Humana Inc. has agreed to sell the stock of its subsidiary Concentra Inc., one of the largest occupational health services providers. The buyer will be MJ Acquisition Corp., a joint venture between Select Medical Holdings Corp., an operator of specialty …

IRB Brasil RE Seeks to More Aggressive Growth in Latam, Africa; Weighs IPO

IRB Brasil RE plans to grow more aggressively in Latin America and Africa as part of an expansion that may require Brazil’s largest reinsurer to seek an initial public offering or tap an outside partner before 2018, Chief Executive Officer …

Brown & Brown Acquires Assets of Spain Agency in New York

Brown & Brown Inc. announced today that its subsidiary Brown & Brown of New York Inc. has acquired certain assets of Spain Agency Inc., an independent agency based in Mahopac, New York. Terms of the transaction were not disclosed. Founded …

Cross Insurance Acquires Corcoran & Havlin Insurance in Massachusetts

Cross Insurance, an independent insurance agency headquartered in Bangor, Maine, announced today it has purchased Corcoran & Havlin Insurance Group, an independent agency in Wellesley, Massachusetts. Terms of the transaction were not disclosed. Corcoran & Havlin’s owners, Jack Keefe and …

Wall Street Journal: Collapse of Southport Lane’s Insurance Empire

An insurance empire that included two insurance carriers, two offshore reinsurers, several buildings and other insurers’ investments was built by a private equity firm in part on questionable assets and is now being dismantled, according to the Wall Street Journal. …

ACE, Blackrock Seek Up to $1.3 Billion for Bermuda Reinsurance Venture

BlackRock Inc., the world’s largest money manager, and Evan Greenberg’s ACE Ltd. are forming a reinsurance venture that is seeking to raise $800 million to $1.3 billion. The business is named ABR Reinsurance Capital Holdings Ltd. and is based in …

Domenick & Co. Acquires Human Services Co. in Baltimore

Domenick & Company, a Philadelphia-based independent agency specializing in providing property/casualty insurance and risk management services to the nonprofit sector, announced it has acquired the assets of Human Services Company, an independent agency in Baltimore that also caters to the …

Beacon Pointe Acquires Albert Heeg in California

Newport Beach, Calif.-based Beacon Pointe Advisors has acquired Albert Heeg Investment Management Co. Alameda, Calif.-based Albert Heeg joins Beacon Pointe’s institutional consulting services group, which specializes in consulting institutional clients, including foundations and endowments, healthcare organizations, educational and religious institutions, …

Chicago-Based Alper Services Partners with Germany’s unisonBrokers

Alper Services LLC, an independent insurance brokerage in Chicago, Ill., announced it recently signed an agreement with unisonBrokers, a global broker network with multinational insurance and risk management services, who partners with select growth-oriented regional brokers. The agreement allows Alper …

MetLife Circles Back to Landmark NYC Tower It Mostly Left

It took almost a decade and a half for MetLife Inc. to determine that Manhattan’s MetLife Building was where it belonged. The biggest U.S. life insurer said Wednesday it will consolidate its New York operations into 200 Park Ave., which …