Business Moves & Mergers News

Hub Acquires the Assets of Pinnacle in Massachusetts

Global insurance brokerage Hub International Limited (Hub) has acquired the assets of Pinnacle Financial Group and Pinnacle Insurance Agency, a Boston, Mass., based provider of life insurance solutions and services to family offices, affluent families and middle market and large …

Marsh & Mclennan Acquires Presidio Benefits Group in California

Marsh & McLennan Agency LLC has acquired Presidio Benefits Group, a San Francisco, Calif.-based employee benefits consulting firm. Terms of the deal were not disclosed. All of Presidio’s employees, including its founders Alan Ikeya and Matthew Coan, are joining MMA …

Hamilton Underwriting at Lloyd’s to Hike 2017 GWP to £122.5M ($152.9M)

Hamilton Underwriting Ltd., the Lloyd’s platform of Bermuda-based Hamilton Insurance Group, announced that the managing agency has received approval from Lloyd’s to increase its gross written premium for Syndicate 3334 in 2017 to £122.5 million ($152.9 million). Gross written premium …

Aon Agrees to Buy Brazil Health & Benefits Broker and Solutions Firm, Admix

Aon announced it has entered into an agreement to acquire Admix, a leading health and benefits brokerage and solutions firm in Brazil. Financial terms of the agreement, which was announced on Nov. 25, were not disclosed and the acquisition is subject to …

Vienna Insurance Group Completes Purchase of AXA’s Serbian Operations

Vienna Insurance Group announced it has completed the purchase of AXA’s Serbian companies. In July 2016 Vienna Insurance Group (VIG) signed a share purchase agreement for acquisition of the non-life company AXA Nezivotno Osiguranje a.d.o. Beograd and life company AXA …

Access Holdco Buys Massachusetts Non-Standard Auto Business From IAT

Access Holdco Management, an Atlanta, Georgia, headquartered insurance managing general agency focused on the non-standard auto market, has purchased the Massachusetts non-standard auto insurance book of business of Occidental Fire & Casualty Company of North Carolina from Occidental’s parent, IAT …

At Trial, Anthem-Cigna Merger Called Harmful to Competition

Anthem Inc.’s proposed $48 billion merger with Cigna Corp. could give the insurer the power to raise prices for employers both in the 14 states where it does business, as well as across the country, according to a witness in …

AXIS Capital Buys Belgium-Based Specialty Aviation Re/Insurer Aviabel

Bermuda-based AXIS Capital Holdings Ltd. announced it has agreed to acquire general aviation insurance and reinsurance leader Aviabel, in a move that is designed to increase the company’s scale and relevance in the global aviation market. The “Aviabel” brand, including …

Allstate to Pay $1.4 Billion for SquareTrade, Seller of Warranties for Mobile Devices, Appliances

The Allstate Corp. agreed to acquire SquareTrade, a consumer electronics and appliance protection plan provider that distributes through many of America’s major retailers. Allstate said it will acquire the privately-held company for approximately $1.4 billion from a group of shareholders, …

Verisk Acquires Analytics Firm MarketStance

Analytics firm Verisk Analytics Inc. has acquired MarketStance, a provider of market intelligence data and analytics to the property/casualty insurance market. Following the completion of the transaction, MarketStance will become part of ISO, a division of Verisk, and Dr. Fritz …