Insurance Journal » Business Moves & Mergers http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Sat, 01 Aug 2015 08:17:24 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.2 Worley Claims Services to Acquire Indiana-Based NCA Group http://www.insurancejournal.com/news/midwest/2015/07/30/377017.htm Thu, 30 Jul 2015 16:46:41 +0000 http://www.insurancejournal.com/?p=377017 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 …

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Louisiana-Based Workers’ Comp Insurer Expands Into Texas http://www.insurancejournal.com/news/southcentral/2015/07/30/377013.htm Thu, 30 Jul 2015 16:43:20 +0000 http://www.insurancejournal.com/?p=377013 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 …

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Smith Brothers Insurance Acquires Carillo & Howland in Connecticut http://www.insurancejournal.com/news/east/2015/07/30/376995.htm Thu, 30 Jul 2015 15:22:46 +0000 http://www.insurancejournal.com/?p=376995 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. …

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PartnerRe ‘Now Willing’ to Open Talks with EXOR: Sources http://www.insurancejournal.com/news/international/2015/07/30/376965.htm Thu, 30 Jul 2015 10:13:44 +0000 http://www.insurancejournal.com/?p=376965 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. …

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Zurich Insurance Confirms Offer for RSA – if Made – Would Be in Cash http://www.insurancejournal.com/news/international/2015/07/29/376607.htm Wed, 29 Jul 2015 11:29:13 +0000 http://www.insurancejournal.com/?p=376607 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 …

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PartnerRe, M&A Focused, Suffers Large Investment Losses in Q2 http://www.insurancejournal.com/news/international/2015/07/28/376521.htm Tue, 28 Jul 2015 15:13:40 +0000 http://www.insurancejournal.com/?p=376521 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 …

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Zurich Insurance Considering Bid for UK’s RSA http://www.insurancejournal.com/news/international/2015/07/28/376468.htm Tue, 28 Jul 2015 09:15:17 +0000 http://www.insurancejournal.com/?p=376468 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 …

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PartnerRe Investors Should Vote Against Merger with AXIS: Glass Lewis http://www.insurancejournal.com/news/international/2015/07/28/376466.htm Tue, 28 Jul 2015 07:06:03 +0000 http://www.insurancejournal.com/?p=376466 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 …

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China Minsheng Investment to Acquire White Mountains’ Sirius for $2.2B http://www.insurancejournal.com/news/international/2015/07/27/376348.htm Mon, 27 Jul 2015 13:21:09 +0000 http://www.insurancejournal.com/?p=376348 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 …

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McGraw Hill to Pay $2.2 Billion for SNL Financial http://www.insurancejournal.com/news/national/2015/07/27/376343.htm Mon, 27 Jul 2015 10:34:26 +0000 http://www.insurancejournal.com/?p=376343 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 …

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PartnerRe Holders Should Reject Merger with AXIS, Favor EXOR Deal, ISS Says http://www.insurancejournal.com/news/international/2015/07/27/376334.htm Mon, 27 Jul 2015 08:18:46 +0000 http://www.insurancejournal.com/?p=376334 PartnerRe Ltd. investors should reject a planned merger with rival reinsurer AXIS Capital Holdings Ltd. and instead opt for a bid of more than $6.7 billion from Italy’s EXOR SpA, ISS Proxy Advisory Services said in a report. “A vote against …

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Anthem to Buy Cigna, Creating Largest U.S. Health Insurer by Membership http://www.insurancejournal.com/news/national/2015/07/24/376230.htm Fri, 24 Jul 2015 12:13:14 +0000 http://www.insurancejournal.com/?p=376230 Anthem Inc. said on Friday it would buy Cigna Corp in a deal valued at $54.2 billion, creating the largest U.S. health insurer by membership. The deal – the biggest ever in the health insurance industry – comes three weeks …

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Generali Acquires MyDrive Solutions, a UK Data Analysis Firm http://www.insurancejournal.com/news/international/2015/07/24/376221.htm Fri, 24 Jul 2015 11:05:27 +0000 http://www.insurancejournal.com/?p=376221 Trieste-based Generali Group announced that it has acquired MyDrive Solutions, a UK company that uses data analytics tools to profile driving behavior. MyDrive Solutions, which was founded in 2010, specializes in identifying innovative and tailor-made products for customers as well …

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DUAL Acquires Oliva Underwriting, UK-based MGA http://www.insurancejournal.com/news/international/2015/07/24/376216.htm Fri, 24 Jul 2015 09:28:12 +0000 http://www.insurancejournal.com/?p=376216 DUAL, the underwriting arm of the Hyperion Insurance Group, announced it has acquired Oliva Underwriting, the UK-based MGA specializing in property & casualty, contractor trades and marine insurance. The acquisition forms a core part of DUAL’s UK commercial strategy, and will allow it …

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Anthem Reported Close to $48B Deal for Cigna http://www.insurancejournal.com/news/national/2015/07/23/376137.htm Thu, 23 Jul 2015 12:39:19 +0000 http://www.insurancejournal.com/?p=376137 Anthem Inc. is near an agreement to buy rival Cigna Corp. for about $48 billion, two people with knowledge of the matter said. A deal would create the largest health insurer in the U.S. after almost a year of talks. …

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AssuredPartners Acquires Founders Insurance Group in Connecticut http://www.insurancejournal.com/news/east/2015/07/22/375996.htm Wed, 22 Jul 2015 16:12:40 +0000 http://www.insurancejournal.com/?p=375996 AssuredPartners Inc. announced today its acquisition of Founders Insurance Group, an independent agency with locations in Torrington and Lakeville, Connecticut. Terms of the transaction were not disclosed. Founders Insurance Group has been providing commercial property and casualty, group health and …

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Teague Acquires C. Lee Williams in Southern California http://www.insurancejournal.com/news/west/2015/07/22/376037.htm Wed, 22 Jul 2015 16:11:39 +0000 http://www.insurancejournal.com/?p=376037 Teague Insurance has acquired C. Lee Williams Insurance, a pair agencies that have been located in the San Diego, Calif. area for more than 50 years. Terms of the deal were not disclosed. C. Lee Williams was founded in 1962 …

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Alliant Acquires Garibaldi in Central California http://www.insurancejournal.com/news/west/2015/07/22/376022.htm Wed, 22 Jul 2015 15:43:51 +0000 http://www.insurancejournal.com/?p=376022 Alliant Insurance Services has acquired Todd Garibaldi Insurance Agency Inc. in Lodi, Calif. Terms of the deal were not disclosed. Garibaldi will join Alliant as senior vice president in agribusiness and food services. Todd Garibaldi Insurance Agency will become Todd …

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Travelers Decided to Pass on Buying Chubb: Fishman http://www.insurancejournal.com/news/national/2015/07/22/375981.htm Wed, 22 Jul 2015 10:41:30 +0000 http://www.insurancejournal.com/?p=375981 For Travelers Cos.’ dealmaking Chief Executive Officer Jay Fishman, sometimes it’s OK to let one get away. Fishman said Tuesday that he opted against buying Chubb Corp., which agreed to be purchased by Ace Ltd. for more than $28 billion. …

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AXIS CEO Halts Merger Activities as PartnerRe Seeks to Negotiate with EXOR http://www.insurancejournal.com/news/international/2015/07/22/375977.htm Wed, 22 Jul 2015 10:24:04 +0000 http://www.insurancejournal.com/?p=375977 AXIS Capital Holdings Ltd. and PartnerRe Ltd. halted preparations for their planned merger after PartnerRe said it is seeking to negotiate with hostile bidder EXOR SpA. “As a result of this latest news, we have decided to suspend all integration-related work and activities,” AXIS …

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Update: PartnerRe Reverses Stance, Seeks Talks with Hostile Bidder EXOR http://www.insurancejournal.com/news/international/2015/07/21/375884.htm Tue, 21 Jul 2015 13:05:16 +0000 http://www.insurancejournal.com/?p=375884 PartnerRe Ltd., the reinsurer that agreed to merge with AXIS Capital Holdings Ltd., said it will enter negotiations with hostile bidder EXOR SpA after the Italian company’s latest cash offer for more than $6.7 billion. “The PartnerRe board has determined that the latest …

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Update: EXOR Lifts PartnerRe Bid, Breaking Elkann Vow on Final Offer http://www.insurancejournal.com/news/international/2015/07/20/375762.htm Mon, 20 Jul 2015 14:53:29 +0000 http://www.insurancejournal.com/?p=375762 EXOR SpA has raised its hostile bid for PartnerRe Ltd. months after saying it had made its final offer to break up the reinsurer’s merger with AXIS Capital Holdings Ltd. The latest proposal adds a special dividend of $3 a share, …

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Zywave Acquires Insurance Agency Digital Marketing Firm Intygral (Astonish) http://www.insurancejournal.com/news/national/2015/07/20/375740.htm Mon, 20 Jul 2015 13:15:37 +0000 http://www.insurancejournal.com/?p=375740 Insurance software provider Zywave said it has completed the asset purchase of Intygral, formerly Astonish, a provider of automated marketing for property/casualty personal lines brokers. Terms of the transaction were not disclosed. The Intygral system provides automated, industry-specific prospecting campaigns. …

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Gallagher Buys 65% of ARM Re, Colombian Energy & Construction Specialist http://www.insurancejournal.com/news/international/2015/07/20/375696.htm Mon, 20 Jul 2015 09:56:22 +0000 http://www.insurancejournal.com/?p=375696 Arthur J. Gallagher – the international division of Arthur J. Gallagher & Co. – has extended its investment in Latin America with a 65 percent shareholding in independent Colombian energy and construction specialist ARM Re Ltda (ARM). Other terms of …

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Timeline: Sweetened AXIS Bid Brings Battle for PartnerRe to Boiling Point http://www.insurancejournal.com/news/international/2015/07/20/375694.htm Mon, 20 Jul 2015 09:08:42 +0000 http://www.insurancejournal.com/?p=375694 The tussle between AXIS Capital Holdings Ltd. and EXOR SpA for control of Bermuda-based reinsurer PartnerRe Ltd. could be drawing to a close after a bidding war that began four months ago. AXIS and PartnerRe improved the terms of their deal yet again …

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Analysis of Chubb’s Future Position in P/C Product Lines http://www.insurancejournal.com/magazines/features/2015/07/20/375098.htm Mon, 20 Jul 2015 00:00:00 +0000 http://www.insurancejournal.com/?p=375098 Just a little over six months ago, ACE announced a deal to acquire the high-net-worth personal lines business of Fireman’s Fund from Allianz, competing against Chubb, which holds the leading position in the space. The announcement that ACE will buy …

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ACE to Acquire Chubb in $28.3 Billion Deal http://www.insurancejournal.com/magazines/features/2015/07/20/375090.htm Mon, 20 Jul 2015 00:00:00 +0000 http://www.insurancejournal.com/?p=375090 In a major transaction, ACE Limited has agreed to acquire The Chubb Corp. for $28.3 billion in cash and stock. The balance sheet’s size and strength will elevate the combined company into the elite group of global P/C insurers. As …

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Brown & Brown Acquires RF Ougheltree & Associates in New Jersey http://www.insurancejournal.com/news/east/2015/07/17/375607.htm Fri, 17 Jul 2015 16:12:38 +0000 http://www.insurancejournal.com/?p=375607 Brown & Brown Inc. announced that its wholesale brokerage division, Hull & Company, has acquired certain assets of RF Ougheltree & Associates LLC in Lyndhurst, New Jersey. Terms of the transaction were not disclosed. RF Ougheltree & Associates was founded …

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Florida’s Heritage Insurance Expanding Into Four Coastal States http://www.insurancejournal.com/news/national/2015/07/17/375539.htm Fri, 17 Jul 2015 12:59:11 +0000 http://www.insurancejournal.com/?p=375539 Clearwater, Florida-based Heritage Property & Casualty Co. said it has applied to expand into North Carolina, South Carolina, Massachusetts and Rhode Island. “The entry into complementary coastal states positions Heritage for new growth opportunities and is an important step toward …

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Japanese Insurers Eye More Acquisitions in U.S. http://www.insurancejournal.com/news/national/2015/07/17/375520.htm Fri, 17 Jul 2015 09:32:55 +0000 http://www.insurancejournal.com/?p=375520 Japanese insurers including MS&AD Insurance Group Holdings Inc. and Sompo Japan Nipponkoa Insurance Inc. are seeking mergers with peers in the United States, as a declining population at home forces them to pursue markets that are growing overseas. Prime Minister …

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