Business Moves & Mergers News

Health Insurers Could Go on Buying Spree If Big Mergers Blocked

The potential bust-up of two mega deals among America’s largest health insurance companies may have an unintended result – more mergers. The U.S. Department of Justice on Thursday sued to block Aetna Inc.’s $37 billion purchase of Humana Inc and …

Brit Invests in South Africa’s Camargue Underwriting Managers

Brit Ltd., the global specialty insurer and reinsurer, announced it has made a significant strategic investment in Camargue Underwriting Managers, one of South Africa’s leading providers of specialized insurance products. Financial details of the transactions were not disclosed. “The investment …

Beazley to Get EU Licenses for Irish Reinsurance Business – After Brexit Vote

Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc. Insurers are making contingency plans after …

Fintech Startup Gets German Banking License – with Plans to Offer Insurance

N26, a Berlin startup that offers financial services directly to consumers, said Thursday it’s received a German banking license that will let it offer a fuller range of products across Europe. The company, whose mobile app lets European consumers maintain …

So. Africa’s Discovery Enters Japan Market with Sumitomo & SoftBank Partnership

Discovery Ltd., South Africa’s third-largest insurer by market value, said it has set up a partnership with Japan’s Sumitomo Life Insurance Co. and SoftBank Group Corp. to develop and introduce products for the world’s third-largest economy. Discovery’s Vitality program, which …

Bassman Completes Acquisition of Ascend Insurance Brokerage

Dallas-based Ascend Insurance Brokerage President and CEO Paul Bassman has closed on the acquisition of the company, purchasing the business from James Chippendale, who founded Ascend in 2001. Ascend specializes in the entertainment business and has placed coverage for hundreds of clients, …

The Hilb Group Acquires Carrier Insurance Agency in Florida

The Hilb Group, LLC (THG) has acquired Florida-based Carrier Insurance Agency, Inc., continuing its nationwide growth through acquisitions and expanding its regional presence in central Florida. The transaction became effective July 1, 2016. Carrier Insurance has been serving central Florida …

HGGC/Integrity Partnership to Acquire Nebraska Insurance Marketing Firm

Palo Alto, Calif.-based middle market private equity firm HGGC, has completed its equity investment in Integrity Marketing Group LLC (Integrity), an independent distributor of life/ health insurance products focused on serving the senior market. Concurrently, HGGC and Integrity announced they …

XL Catlin Opens Unit in Africa to Write Facultative and Treaty Reinsurance

XL Catlin has established a new Reinsurance Unit focused on providing facultative and treaty reinsurance across Africa. Leading the team is Alex St James who has been appointed as head of Africa for XL Catlin’s Reinsurance operations. Additionally, XL Catlin …

Berkshire Hathaway Purchasing New York Medical Liability Insurer

Berkshire Hathaway subsidiary National Indemnity Co. is acquiring Medical Liability Mutual Insurance Co. of New York for an undisclosed price. The deal comes as the insurer completes its conversation from a mutual company to a stock insurer. The insurer is …