Business Moves & Mergers News

AssuredPartners Acquires CBS Coverage Group in N.Y.

AssuredPartners Inc., through its subsidiary Assured SKCG Inc., has recently acquired CBS Coverage Group Inc. in Plainview, N.Y. CBS Coverage Group specializes in commercial insurance, employee benefits and financial planning services, and personal insurance. The firm reports revenues of approximately …

Poland’s PZU to Pay $498 Million for RSA’s Eastern European Units

PZU SA, central Europe’s largest insurer by market value, agreed to buy RSA Insurance Group Plc’s four units in the biggest foreign acquisition by a Polish financial company. PZU will pay a combined €360 million ($498 million) for Lietuvos Draudimas …

BancorpSouth Insurance to Acquire Louisiana’s Knox Insurance Group

BancorpSouth Insurance Services Inc., a subsidiary of BancorpSouth Bank, headquartered in Tupelo, Miss., is acquiring Lafayette, La.-based Knox Insurance Group LLC (Knox) in a transaction that is expected to close immediately, BancorpSouth announced. Financial terms of the pending transaction were …

Travelers CEO Fishman Eyes Potential Foreign Acquisitions

Travelers Companies, which acquired Dominion of Canada General Insurance in 2013 and increased its ownership stake in its joint venture in Brazil in 2012, is likely to continue expanding internationally. In his annual letter to shareholders, Travelers CEO Jay Fishman …

Aspen Rejects Endurance’s $3.2B Hostile Acquisition Bid As ‘Ill-Conceived’

Bermuda-based Endurance Specialty Holdings Ltd. today offered to buy Aspen Insurance Holdings Limited, also based in Bermuda, for $3.2 billion, or $47.50 per Aspen share, in a hostile takeover. The combined company would have more than $5 billion of combined …

N.J.’s Consolidated Insurance Agents Changes Name to ANE, Eyes Expansion

Consolidated Insurance Agents, a network of independent insurance agencies in New Jersey, is changing its name to ANE, Agency Network Exchange. It also unveiled a plan to add resources and staff to expand its network of more than 40 independent …

Cross Insurance Acquires Troy, Pires & Allen Insurance in Rhode Island

Cross Insurance, a subsidiary of Cross Financial Corp. in Bangor, Maine, announced its acquisition of Troy, Pires & Allen Insurance, a 78-year-old insurance agency based in East Providence, R.I. Terms of the transaction were not disclosed. Troy, Pires & Allen …

AssuredPartners Acquires MHB Insurance in New York

Lake Mary, Fla.-based AssuredPartners Inc., through its subsidiary Assured SKCG, recently acquired MHB Insurance, located in Peekskill, N.Y. Terms of the transaction were not disclosed. Founded in 1919, MHB Insurance specializes in insurance for businesses, municipalities and individuals, and provides …

Arthur J. Gallagher to Buy Australian Wesfarmers’ Insurance Brokerage

Perth, Australia-based conglomerate Wesfarmers has agreed to sell the insurance brokerage and premium funding operations of its Insurance division to subsidiaries of U.S.-based broker Arthur J. Gallagher & Co. for A$1,010 million (about U.S. $933 million). In addition to the …

Confie Head Eyes Commercial Acquisitions for Rest of 2014

Confie Seguros’ president wants it known that the agency made good on its promise a year-and-a-half ago to up its buying spree and expand into standard personal and small commercial lines, all while broadening its demographic from being primarily a …