Business Moves & Mergers News

PartnerRe Holders Should Reject Merger with AXIS, Favor EXOR Deal, ISS Says

PartnerRe Ltd. investors should reject a planned merger with rival reinsurer AXIS Capital Holdings Ltd. and instead opt for a bid of more than $6.7 billion from Italy’s EXOR SpA, ISS Proxy Advisory Services said in a report. “A vote against …

Anthem to Buy Cigna, Creating Largest U.S. Health Insurer by Membership

Anthem Inc. said on Friday it would buy Cigna Corp in a deal valued at $54.2 billion, creating the largest U.S. health insurer by membership. The deal – the biggest ever in the health insurance industry – comes three weeks …

Generali Acquires MyDrive Solutions, a UK Data Analysis Firm

Trieste-based Generali Group announced that it has acquired MyDrive Solutions, a UK company that uses data analytics tools to profile driving behavior. MyDrive Solutions, which was founded in 2010, specializes in identifying innovative and tailor-made products for customers as well …

DUAL Acquires Oliva Underwriting, UK-based MGA

DUAL, the underwriting arm of the Hyperion Insurance Group, announced it has acquired Oliva Underwriting, the UK-based MGA specializing in property & casualty, contractor trades and marine insurance. The acquisition forms a core part of DUAL’s UK commercial strategy, and will allow it …

Anthem Reported Close to $48B Deal for Cigna

Anthem Inc. is near an agreement to buy rival Cigna Corp. for about $48 billion, two people with knowledge of the matter said. A deal would create the largest health insurer in the U.S. after almost a year of talks. …

AssuredPartners Acquires Founders Insurance Group in Connecticut

AssuredPartners Inc. announced today its acquisition of Founders Insurance Group, an independent agency with locations in Torrington and Lakeville, Connecticut. Terms of the transaction were not disclosed. Founders Insurance Group has been providing commercial property and casualty, group health and …

Teague Acquires C. Lee Williams in Southern California

Teague Insurance has acquired C. Lee Williams Insurance, a pair agencies that have been located in the San Diego, Calif. area for more than 50 years. Terms of the deal were not disclosed. C. Lee Williams was founded in 1962 …

Alliant Acquires Garibaldi in Central California

Alliant Insurance Services has acquired Todd Garibaldi Insurance Agency Inc. in Lodi, Calif. Terms of the deal were not disclosed. Garibaldi will join Alliant as senior vice president in agribusiness and food services. Todd Garibaldi Insurance Agency will become Todd …

Travelers Decided to Pass on Buying Chubb: Fishman

For Travelers Cos.’ dealmaking Chief Executive Officer Jay Fishman, sometimes it’s OK to let one get away. Fishman said Tuesday that he opted against buying Chubb Corp., which agreed to be purchased by Ace Ltd. for more than $28 billion. …

AXIS CEO Halts Merger Activities as PartnerRe Seeks to Negotiate with EXOR

AXIS Capital Holdings Ltd. and PartnerRe Ltd. halted preparations for their planned merger after PartnerRe said it is seeking to negotiate with hostile bidder EXOR SpA. “As a result of this latest news, we have decided to suspend all integration-related work and activities,” AXIS …