Business Moves & Mergers News

Everest Re Selling Crop Insurer Heartland to CGB

Bermuda’s Everest Re Group is selling its U.S. crop insurance company, Heartland Crop Insurance Inc., to CGB Diversified Services Inc., a crop insurance, transportation and storage firm in Illinois. Upon completion of the sale, Everest Re will provide quota share …

Catalina to Buy Hartford Financial Products & Downlands Liability Management

Catalina Holdings (Bermuda) Ltd. announced its wholly owned subsidiary Catalina Holdings UK Ltd. has signed a definitive agreement to acquire Hartford Financial Products International Ltd. (HFPI) and Downlands Liability Management Ltd. (DLM) from subsidiaries of The Hartford Financial Services Group Inc. …

Great American Insurance to Acquire National Interstate Corporation

National Interstate Corp. (National Interstate), based in Richfield, Ohio, announced it has agreed to be acquired by Great American Insurance Co. (Great American), a wholly-owned subsidiary of American Financial Group Inc. (AFG). Under the terms of the agreement, Great American …

Ironshore Files for IPO in U.S. After A.M. Best Review of Parent Firm Fosun

Ironshore Inc., the insurer purchased by Chinese conglomerate Fosun International Ltd. last year, filed for an initial public offering in the U.S. after a ratings firm cited concerns about the parent firm’s financial strength. The company filed with an initial …

Health Insurers Could Go on Buying Spree If Big Mergers Blocked

The potential bust-up of two mega deals among America’s largest health insurance companies may have an unintended result – more mergers. The U.S. Department of Justice on Thursday sued to block Aetna Inc.’s $37 billion purchase of Humana Inc and …

Brit Invests in South Africa’s Camargue Underwriting Managers

Brit Ltd., the global specialty insurer and reinsurer, announced it has made a significant strategic investment in Camargue Underwriting Managers, one of South Africa’s leading providers of specialized insurance products. Financial details of the transactions were not disclosed. “The investment …

Beazley to Get EU Licenses for Irish Reinsurance Business – After Brexit Vote

Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc. Insurers are making contingency plans after …

Fintech Startup Gets German Banking License – with Plans to Offer Insurance

N26, a Berlin startup that offers financial services directly to consumers, said Thursday it’s received a German banking license that will let it offer a fuller range of products across Europe. The company, whose mobile app lets European consumers maintain …

So. Africa’s Discovery Enters Japan Market with Sumitomo & SoftBank Partnership

Discovery Ltd., South Africa’s third-largest insurer by market value, said it has set up a partnership with Japan’s Sumitomo Life Insurance Co. and SoftBank Group Corp. to develop and introduce products for the world’s third-largest economy. Discovery’s Vitality program, which …

Bassman Completes Acquisition of Ascend Insurance Brokerage

Dallas-based Ascend Insurance Brokerage President and CEO Paul Bassman has closed on the acquisition of the company, purchasing the business from James Chippendale, who founded Ascend in 2001. Ascend specializes in the entertainment business and has placed coverage for hundreds of clients, …