Business Moves & Mergers News

Aviva Sells Spanish Venture Stake after Tribunal OK’s Deal

British insurer Aviva is selling its stake in joint venture CxG Aviva for €287 million ($369 million) to venture partner Novacaixagalicia (NCG) Banco after a Spanish tribunal ruling cleared the way for a deal. The cash deal is expected to …

Arthur J. Gallagher Acquires Hagedorn & Co. in New York

Arthur J. Gallagher & Co. announced that it has acquired Hagedorn & Company located in New York, New York. Terms of the transaction were not disclosed. Founded in 1869, Hagedorn is a retail insurance broker providing property/casualty, risk management, group …

Allianz to Assume Fireman’s Fund Commercial Lines; Future of Personal Lines Uncertain

German insurance giant Allianz said it will absorb the commercial lines business of its U.S. subsidiary Fireman’s Fund Insurance Co. into one of its own global divisions. Meanwhile, after days of declining to comment, Allianz has acknowledged it is considering …

Texas-Based CAA Welcomes New Agency Member in Kansas

Combined Agents of America LLC (CAA), based in Austin, Texas, added Strong’s Insurance Inc. in Nashville, Kan., as its 52nd member. Specializing in agriculture and oil, the agency was established in 1921 by Earl W. Strong. CAA is a privately-held …

Sedgwick to Acquire VeriClaim, Other T&H Units

Sedgwick Claims Management Services Inc. has agreed to acquire T&H Global Holdings, LLC and its subsidiaries that provide insurance claims services to insurance carriers, insurance brokers, corporations and public entities. The deal includes T&H subsidiaries VeriClaim Inc., VRS VeriClaim U.K. …

ACP Re Completes Tower Group Merger; Personal Lines Sold to National General

After months of uncertainty, the merger of ACP Re Ltd. and struggling reinsurer Tower Group International has finally closed. Bermuda-based ACP Re and Tower announced on Sept. 12 that all regulatory approvals were in place relating to ACP Re’s acquisition …

XL Launches Regional E&S Insurance Operation with Ex-Scottsdale Underwriters

XL Group has launched a regional underwriting operation in Scottsdale, Ariz. to offer brokers and clients in the Western U.S. more direct access to its excess and surplus insurance coverages The experienced underwriting team includes Scott Noffisinger, Katherine E. Schlueter, Rick M. Yale and Kim …

Wisconsin’s R&R Insurance Services, Snyder Insurance Agency Merge

R&R Insurance Services Inc. announced it the merger of  Snyder Insurance Agency, an independent insurance agency based in Oconomowoc, Wis. Both are well-established agencies in Waukesha County. R&R Insurance will be celebrating 40 years of service in southeastern Wisconsin next year …

Maine’s SurePoint Re Advisors to Be Acquired by Willis Re

Willis Group Holdings plc announced today that Willis Re Inc., its North American reinsurance business, has entered into a definitive agreement to acquire the assets of SurePoint Reinsurance Advisors, LLC, in Portland, Maine. Details of the transaction, which is expected …

Burns & Wilcox Brokerage Opens Atlanta Office, Hires 3 Brokers

Burns & Wilcox Brokerage has opened an office in Atlanta and hired three specialty property brokers for the new location. The new hires are Barry Whitton, managing director; Brent Lazenby, broker; and Thad Crane, broker. Whitton will lead the new …