Business Moves & Mergers News

LeapFrog, Lombard to Acquire Stakes in Thai Insurer SMK from RSA

LeapFrog Investments, Lombard Investments, and Syn Mun Kong Insurance Public Company Limited (SMK) [SMK:Bangkok] announced today that LeapFrog and Lombard will each acquire approximately 11 percent of SMK, from Royal & Sun Alliance Insurance Plc (RSA). The venture is the …

Donald Gaddis Co. Acquires Chicago-Based Kelly and Elliott

Wholesale insurance broker and general agency, Donald Gaddis Co. Inc., has purchased rights to all the renewals of Kelly and Elliott Ltd. Both companies are headquartered in Chicago. Gaddis also hired all of Kelly and Elliott’s employees. The transaction was effective …

Arthur J. Gallagher Acquires Affinity Marketing Group in Massachusetts

Arthur J. Gallagher & Co. announced the acquisition of Affinity Marketing Group LLC in Natick, Massachusetts. Terms of the transaction were not disclosed. Established in 2001, Affinity Marketing Group (AMG) is a national program broker that provides access to products …

Integro Acquires Ventura Insurance Brokerage in New York

Insurance brokerage and risk management firm Integro announced its acquisition of Ventura Insurance Brokerage in New York City. Financial details of the transaction were not disclosed. Ventura Insurance Brokerage is an entertainment specialist brokerage firm providing insurance services to the …

Iowa’s Farmers Mutual Hail Insurance to Acquire John Deere Crop Insurance

Farmers Mutual Hail Insurance Co. of Iowa (FMH) announced it is acquiring Moline, Ill.-based John Deere Insurance Co. and John Deere Risk Protection Inc. The action is a result of Deere’s previously announced review of strategic options for the crop insurance business. …

ACE to Buy Fireman’s Fund Personal Lines; Famous Brand Fading Away

Allianz Group has agreed to sell the U.S. personal lines business of its Fireman’s Fund unit to ACE for $365 million by means of renewal rights arrangement. The merger of the personal lines business with ACE and the planned integration …

Arthur J. Gallagher Acquires Independent Benefit Services in Maryland

Arthur J. Gallagher & Co. today announced the acquisition of Independent Benefit Services Inc. (iBEN) located in Rockville, Maryland. Terms of the transaction were not disclosed. Founded in 1989, iBEN provides employee benefits, human resources and retirement plan consultation and …

Integro Acquires UK’s Howard Global Insurance Services

International insurance broker and risk management firm Integro announced its acquisition of Howard Global Insurance Services Ltd., a Lloyd’s-registered specialty broker headquartered in London. Financial details of the transaction have not been disclosed. Howard Global was established in 2000, and …

Antitrust Concerns End Verisk Bid for Rival EagleView Technology

Verisk Analytics Inc. scrapped a planned $650 million takeover of EagleView Technology Corp. after antitrust regulators said the deal would give the company too large a share in the market for aerial images used by insurers. The data provider instead …

OneBeacon Sells Lawyers Professional Liability Business to Argo

OneBeacon Insurance Group Ltd. has sold the renewal rights to its lawyers professional liability business to Argo Group US, Inc., a member of Argo Group International Holdings Ltd. The transaction includes renewal rights to policies renewing on or after January …