Business Moves & Mergers News

Worley Claims Services to Acquire Indiana-Based NCA Group

Hammond, La.-based insurance claims services provider, Worley Claims Services (Worley), is acquiring NCA Group Inc. (NCA), which provides daily and catastrophe residential and commercial property claims services throughout North America. NCA Group is headquartered in Indiana. Worley said the acquisition …

Louisiana-Based Workers’ Comp Insurer Expands Into Texas

LUBA Workers’ Comp, based in Baton Rouge, La., is now offering workers’ compensation insurance coverage to businesses in Texas. LUBA Workers’ Comp covers businesses in Arkansas, Louisiana and Mississippi through select, independent insurance agencies. Similar to how the company was …

Smith Brothers Insurance Acquires Carillo & Howland in Connecticut

Smith Brothers Insurance LLC, an independent agency based in Glastonbury, Connecticut, announced that it has acquired the assets of Carillo & Howland Inc., an agency with locations in Windsor Locks and Somers, Connecticut. Terms of the transaction were not disclosed. …

PartnerRe ‘Now Willing’ to Open Talks with EXOR: Sources

PartnerRe Ltd, the reinsurance company that has a $6.6 billion merger agreement with AXIS Capital Holdings, has indicated that it is now willing to negotiate a new deal with rival suitor EXOR, SpA, according to people familiar with the matter. …

Zurich Insurance Confirms Offer for RSA – if Made – Would Be in Cash

Zurich Insurance Group AG said any offer for RSA Insurance Group would be in cash. Wednesday’s statement from Zurich means “there’s a very high likelihood that it will come through with an offer in the next few weeks.” said Ben Cohen, a London-based analyst …

PartnerRe, M&A Focused, Suffers Large Investment Losses in Q2

PartnerRe has enough on its plate juggling a proposed merger with AXIS Capital Holdings Ltd. and an unsolicited bid from the Italian investment firm EXOR SpA. Now there is a sizable second-quarter loss with which to contend, due to a …

Zurich Insurance Considering Bid for UK’s RSA

Cash-rich Zurich Insurance is weighing a bid for British rival RSA Insurance Group which could top $8 billion and be the latest industry tie-up amid toughening regulations. The impending launch of new European rules governing how much money insurers must …

PartnerRe Investors Should Vote Against Merger with AXIS: Glass Lewis

PartnerRe Ltd. investors should vote against a planned merger with rival reinsurer AXIS Capital Holdings Ltd., proxy adviser Glass Lewis & Co. said in a recommendation that’s a victory for hostile bidder EXOR SpA. “The liquidity, certainty and immediate premium of …

China Minsheng Investment to Acquire White Mountains’ Sirius for $2.2B

White Mountains Insurance Group Ltd. agreed to sell Sirius International Insurance Group Ltd. for about $2.2 billion to an arm of China Minsheng Investment Corp. The price for the reinsurer will be 127 percent of shareholders’ equity, plus $10 million, White Mountains said Monday in …

McGraw Hill to Pay $2.2 Billion for SNL Financial

McGraw Hill Financial Inc. agreed to buy SNL Financial, the financial news and data services provider owned by buyout firm New Mountain Capital, for about $2.23 billion to add content on the banking and insurance industries. SNL joins a roster …