Business Moves & Mergers News

Willis to Acquire Majority Stake in Miller in Ship-Insurance Wager

Willis Group Holdings Plc, the third-largest insurance broker by market value, has agreed to take a majority stake in Miller Insurance Services LLP to add shipping clients. Willis will take an 85 percent stake, and partners of Miller will retain …

Third Point Re Picks Short Hills, N.J., as U.S. Subsidiary Location

Third Point Reinsurance Ltd., the Bermuda-based company co-founded by hedge-fund manager Dan Loeb, has picked Short Hills, New Jersey, as the location for a new U.S. subsidiary. Shane Haverstick, senior vice president of operations, said he’s moving to the new …

NFP Acquires Michelsen Benefits in North Carolina

New York-based insurance brokerage and consultant NFP has expanded its corporate benefits practice with the acquisition of Charlotte, N.C.-based Michelsen Benefits Group Inc., or The Michelsen Group (TMG). The transaction closed November 1, 2014. TMG specializes in consulting services to …

AssuredPartners Acquires Omni Risk Management, Omni Benefits in N.Y.

AssuredPartners Inc. has acquired Omni Risk Management and Omni Benefits in Smithtown, New York. The firm specializes in coverage for commercial insurance with a specialty in construction coverage, surety bonding, personal insurance, as well as life and health insurance products. …

Associated Banc-Corp to Acquire Ahmann & Martin in Minnesota

Associated Banc-Corp (Associated) announced it has entered into an agreement to acquire Ahmann & Martin Co., a risk and benefits consulting firm in Minnesota, through Associated’s subsidiary, Associated Financial Group. The transaction is expected to close in February. Associated Financial Group …

Florida’s Gardner Group Merges with Hylant

Hylant, one of the largest privately-owned insurance brokers in the nation, said that The Gardner Group, an independent employee benefits agency based in Neptune Beach, Fla., will be merging into its Jacksonville operations. The newly-merged operation will led by industry …

Aon Benfield Acquires Portfolio of Swiss Specialist Broker Sipex

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, announced that it has acquired the entire portfolio of in-force business of Sipex Insurance and Reinsurance Brokers SA, an insurance and reinsurance broker based in Switzerland, which specializes …

QBE Selling U.S. Agency Businesses to Alliant for $300M

QBE Insurance Group Ltd. of Australia is selling its U.S. agency businesses to California-based Alliant Services Inc. for about $300 million and exiting the distribution business. The agencies being bought by Alliant include Community Association Underwriters (CAU), Deep South Insurance …

U.K.’s RSA Considers Sale of Middle East Business

RSA Insurance Group plc is considering the sale of its Middle Eastern business as the U.K. insurer seeks to raise capital, people with knowledge of the matter said. RSA, whose operations span Europe, Asia, Latin America and Canada, is working …

AXA ART Announces New Global Organizational Structure

As part of its ongoing efforts to expand into new markets and bolster effective delivery of innovative product and service offerings to clients around the world, AXA ART announced it has structured its global operating presence into four regions: South-West …