Business Moves & Mergers News

ACE to Acquire Chubb in $28.3 Billion Deal

In a major transaction, ACE Limited has agreed to acquire The Chubb Corp. for $28.3 billion in cash and stock. The two firms said the combined company will have complementary businesses, skills and distribution and greater growth and earnings than …

DUAL Enters Central, East European Market with Launch of DUAL Polska

DUAL Group, the underwriting arm of Hyperion Insurance Group, announced its launch into Central and Eastern Europe (CEE), following the acquisition of the majority stake of Toruń, Poland-headquartered insurance specialist, Data Connect Direct (DCD). This acquisition, which creates DUAL Polska, …

Willis CEO, Casserley, Opts Against Taking Severance Pay in Towers Watson Deal

Willis Group Holdings plc’s chief executive officer, who is taking a lesser role under the insurance broker’s planned merger with Towers Watson & Co., has opted against taking some compensation that he was entitled to get. “Dominic Casserley will not receive a …

Founders Professional Opening Chicago Office

Founders Professional, a professional liability insurance wholesaler, announced it is opening an office in downtown Chicago. The new location will be Founders Professional second; its first location is in St. Petersburg, Fla. Marketing and business development executive Aaron Lipson has …

Hilb Group Acquires Cornerstone Group, Gencorp Insurance Group in R.I.

The Hilb Group, a Richmond, Virginia-based middle market insurance agency, today announced its acquisition of two New England insurance brokerage firms: Cornerstone Group, a benefit advisory firm in Warwick, Rhode Island; and Gencorp Insurance Group, a property/casualty and employee benefits …

Swett & Crawford Brasil Expands with Purchase of Shares in Local Broker

Wholesale insurance broker Swett & Crawford Brasil, part of Cooper Gay Swett & Crawford (CGSC), the independent global wholesale, underwriting management and reinsurance broker, announced that it has purchased 51 percent of the shares of Casa do Corretor, a wholesale …

Willis Group, Towers Watson Agree to $18 Billion Merger

Global reinsurance and insurance broker Willis Group Holdings and professional services and analytics firm Towers Watson have agreed to an all-stock merger of equals valued at $18 billion. Upon completion of the merger, Willis shareholders will own approximately 50.1 percent …

Berkshire Hathaway Specialty Expands in Australia, New Zealand

Berkshire Hathaway Specialty Insurance Co. (BHSI) said it is entering the healthcare underwriting market in Australia, and has appointed Tony Bainbridge, previously with American International Group (AIG), to lead the effort. The insurer also announced it has opened an office …

Fosun’s Acquisition of Meadowbrook’s California Subsidiaries OK’d

The California Department of Insurance has approved Fosun International Ltd.’s acquisition of control of Meadowbrook Insurance Group Inc.’s subsidiaries commercially domiciled in of California. The subsidiaries include Star Insurance Co., ProCentury Insurance Co. and Williamsburg National Insurance Co. The closing of …

Integro Acquires Atlanta-Based Clearview Group

International insurance broker and risk management firm Integro Ltd. has further expanded its benefits practice with the acquisition of Clearview Group, an Atlanta-based national health benefits consultant with a subspecialty serving the private equity industry. Financial details of the transaction …