Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
InsureZone Acquires Nevada Based CMS Agency
Mar 4 2010 // InsureZone Inc. announced that it has purchased 100 percent of the assets of CMS Agency Inc. a wholesaler based in Las Vegas. The transaction gives InsureZone, through its wholesale subsidiary AgentSecure, the opportunity...
S&P Puts ‘the Pru’ on CreditWatch / Negative on AIA Acquisition
Mar 2 2010 // Standard & Poor’s Ratings Services has placed its ratings on Prudential PLC and its operating subsidiaries, including the ‘A+’ long-term counterparty credit rating on Prudential, on CreditWatch with...
Brown & Brown Acquires Certain Assets of DiMartino Associates
Mar 1 2010 // J. Scott Penny, regional executive vice president of Florida-based Brown & Brown Inc., and Gregory P. DiMartino, president of DiMartino Associates Inc. of Seattle, announced the acquisition of the insurance agency and...
Evergreen Insurance Managers Acquires Certain Intercontinental Insurance Accounts
Feb 25 2010 // Evergreen Insurance Managers Inc. of Beaverton, Ore., announced the purchase of a Penn-America Insurance Co., Penn-Star Insurance Co., United National Insurance Co. book of business, and certain brokerage accounts from...
Meyenhofer to Retire from Chairmanship of PartnerRe Global
Feb 22 2010 // Bermuda-based PartnerRe Ltd. announced that Bruno Meyenhofer, Chairman of PartnerRe Global (the Company’s non-U.S. operations], has advised the Company of his decision to retire, effective March 31, 2010. He joined...
Private Crop Insurers Oppose Funding Cuts
Feb 21 2010 // The private crop insurance industry is blasting a proposed restructuring in the crop insurance program it says would cut $4 billion — or $800 million a year — over the next five years. The proposal by the U.S....
How Program Partners Can Help You Sell Value
Feb 21 2010 // “Price is what you pay. Value is what you get.”—Warren Buffet Agents, brokers and underwriters should heed Mr. Buffet’s advice and consider how they’re doing business. I’ll bet if I asked...
M&A Activity at Decade Lows
Feb 21 2010 // Leading into 2009, agencies were at a crossroads; uncertain of whether to sell, buy, or implement new or improved organic growth strategies. The path was uncertain, but it was widely believed that market, economic and...
Zenith Merger Will Make Fairfax 7th Largest Workers’ Comp Writer in Calif.
Feb 19 2010 // Following Zenith National Insurance Corp.’s sell the company to Fairfax Financial Holdings Ltd., Toronto-based Fairfax will be the seventh-largest workers’ compensation insurer in the state, on a pro forma...
Fairfax to Buy all Remaining Shares of Zenith in $1.4 Billion Deal
Feb 18 2010 // Fairfax Financial Holdings Ltd said Thursday it will buy all the shares of U.S. insurer Zenith National Insurance Corp that it does not already own in a deal worth about $1.4 billion.[Figures are in U.S. $, unless...
AJ Gallagher Buys Brazil Facultative Reinsurance Broker
Feb 17 2010 // Arthur J. Gallagher & Co. has acquired Securitas Re of Sao Paulo, Brazil from Estater Gestao de Investimentos Ltda. Terms of the transaction were not disclosed. It will trade internationally as Gallagher Brazil, as a...
AXA Asia-Pacific Returns to Profit; No Comments on Takeover Bids
Feb 17 2010 // Takeover target AXA Asia-Pacific’s promise of strong growth in 2010 prompted analysts to suggest suitors may consider raising their bids for the firm but top officials declined comment on the $12 billion...
PartnerRe Repurchases App. 1.7% of Common Shares Outstanding
Feb 17 2010 // Bermuda,-based PartnerRe Ltd announced the repurchase of 1,438,394 common shares in privately negotiated transactions. “The shares, totaling approximately 1.7 percent of total common shares outstanding, were...
North Carolina’s First Bank Insurance Acquires Montgomery County Agency
Feb 16 2010 // North Carolina’s First Bank Insurance Services, Inc. has acquired The Insurance Center, Inc., a Montgomery County property/ casualty insurance agency with 500 customers. Kim Birckhead, president of The Insurance...
PartnerRe Changes Organizational Structure after PARIS RE Acquisition
Feb 12 2010 // Bermuda-based PartnerRe Ltd. Has announced organizational changes, following the acquisition of PARIS RE. The Company said it would “maintain its existing business unit-based operating structure, consisting of three...
RSA Acquires Oman’s Al Ahlia
Feb 12 2010 // The UK-based RSA Insurance Group plc has agreed to acquire Oman-based Al Ahlia Insurance Company SAOC for OMR 19 million (£31 million – $48.36 million) from ONIC. RSA said “Al Ahlia is the third largest...
PartnerRe Full Year Net Income Soars to $1.53 Billion; Q4 $354 Million
Feb 11 2010 // PartnerRe Ltd. shook off a rather dismal 2008 with a strong performance in 2009. The Bermuda-based reinsurer posted net income of $354.4 million, or $4.25 per share on a fully diluted basis for the fourth quarter of 2009,...
Hales Reports Brokerage M&As Down 40% in 2009; Expects Better 2010
Feb 7 2010 // A prolonged soft market coupled with the worst economic period since the Great Depression as well as uncertainty related to national health care reform, caused insurance brokerage buyers and sellers to struggle with how to...
iPeople to Offer Merger, Acquisition Services
Feb 5 2010 // iPeople LLC will launch a new merger and acquisition service for insurance agencies, brokerage firms and managing general agents throughout the United States. iPeople, a Washington, D.C.-based insurance consulting firm,...
K&K Insurance Acquires Leisure Sports Specialists
Feb 4 2010 // K&K Insurance Group Inc. has acquired Fort Wayne, Ind.-based Leisure Sports Specialists LLC. Terms of the transaction were not disclosed. The Leisure Sports Specialists acquisition expands K&K’s footprint as...
