Business Moves & Mergers News

AJ Gallagher Acquires Assets of Caribbean Broker Minvielle & Chastanet

Arthur J. Gallagher & Co. announced that it has acquired certain assets of Minvielle & Chastanet Insurance Brokers located in the eastern Caribbean. Terms of the transaction were not disclosed. The bulletin described Minvielle & Chastanet Insurance Brokers (MCIB) as …

XL Group’s Trade Receivables Insurance Team Grows in US and UK

XL Group announced that it is addressing “businesses’ growing interest in Trade Receivables Insurance (TRI),” with the addition of “underwriting resources with the appointments of Jennifer Papadimitriou in London; Paul C. Haigley III and Aaron Rutstein in Baltimore and Agatha …

Coverys to Acquire ELM Exchange in Maryland

Coverys, a Boston-based medical professional liability insurer, announced it has finalized an agreement to acquire ELM Exchange Inc. in Rockville, Maryland. ELM provides customized online educational programs that are designed to help healthcare providers minimize clinical risk and maximize patient …

Arthur J. Gallagher Acquires Missouri-Based Travel Insurance Agency

Arthur J. Gallagher & Co. has acquired Trip Mate Inc., based in Kansas City, Mo. Established in 1989, Trip Mate is a full service travel insurance agency that provides a wide variety of travel protection plans and services for their travel …

Integro’s Entertainment Practice Acquires London Based Stonehouse Conseillers

International insurance brokerage and risk management firm Integro has announced its acquisition of Stonehouse Conseillers Ltd., “a London based specialist insurance broker servicing the needs of commercial film production companies and international advertising agencies.” Financial details of the transaction were …

Aon Acquires Peru-based Graña y Asociados to Bolster Latin American Presence

Aon Risk Solutions, the global risk management business of Aon plc, announced the acquisition of Graña y Asociados, a Lima, Peru-based leader in risk and insurance solutions for individuals and businesses. Financial terms were not disclosed. Aon said: “Graña y …

‘Robust’ Activity Ahead for Agency M&As, Says OPTIS

There were 165 announced merger and acquisition transactions of insurance agencies in the U.S. and Canada in the first six months of 2014, a jump of nearly 40 percent over the same period in 2013. Also, according to an OPTIS …

Norman-Spencer Acquires Northern Star Management in N.J.

Norman-Spencer Agency Inc., a Dayton, Ohio-based national insurance provider and program administrator, has completed the acquisition of Northern Star Management Inc. Based out of New Jersey since 1997, Northern Star has been an underwriting management company and wholesale producer working …

Florida’s Federated National Raises $40M in IPO

Federated National Holding Co., a Florida-based property/casualty insurer, announced the closing of its public offering of 2,358,975 shares of its common stock, which includes 307,692 shares sold pursuant to the exercise of the 30-day option granted to the underwriters to …

Confie Seguros Acquires Brokerages in New York, Texas, South Carolina

Confie Seguros, a Huntington Beach, California-based national provider of personal lines insurance, has acquired three insurance brokerages. Among these additions is Bower Insurance, an agency in Lockport, New York, providing auto, homeowners and small commercial insurance to the western New …