Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Ohio Among States Weighing Tougher Seat Belt Laws to Get Funding
Feb 6 2009 // More cash-strapped states want to give law enforcement officers the authority to pull over motorists who aren’t wearing seat belts. The 15 states, including Ohio, that are considering making the switch need to do so...
G4S, National Unity Form Anti-Fraud Partnership
Feb 6 2009 // North Carolina-based G4S Compliance & Investigations has formed partnership with National Unity Insurance Company, a Texas-headquartered company specializing in providing liability insurance for Mexican private and...
Aon Hit With Q4 Benfield Merger Costs But Broker Commissions Grow Slightly
Feb 6 2009 // Aon Corp., the largest global insurance brokerage by assets, reported that net income fell 95 percent in the fourth quarter as it incurred costs related to restructuring and its merger with Benfield Group. Net income was...
Tower Group Completes Acquisition of CastlePoint Holdings
Feb 5 2009 // Tower Group Inc. has completed its acquisition of CastlePoint Holdings Ltd. in a transaction valued at $531 million based on Tower’s current market price. Tower announced a definitive agreement to acquire CastlePoint...
PartnerRe Q4 Net Drops 52% to $95.3 Million; FY Down 94% to $46.5 Million
Feb 4 2009 // PartnerRe Ltd. joined the growing list of companies, reporting sharp fourth quarter and full year net income decreases. The Bermuda-based reinsurer posted Q4 net income of $95.3 million, compared to the $180.6 million it...
Texas Governor Calls for Reform of Texas Wind Pool Funding
Feb 4 2009 // Three of the five emergency items that Texas Gov. Rick Perry has outlined for the 2009 legislative session relate to hurricane recovery, including legislation to reform the Texas Windstorm Insurance Association (TWIA) and...
North Dakotans Urged to Buy Flood Insurance Before Spring Melt
Feb 3 2009 // With record amounts of snow in North Dakota, Insurance Commissioner Adam Hamm is urging homeowners, renters and business owners to consider buying a flood insurance policy. Hamm says there’s a 30-day waiting period...
Wills/HRH Executive McCurry Joins Georgia’s Seacrest Partners
Feb 3 2009 // Seacrest Partners, Inc., a Savannah-based insurance brokerage and employee benefits consulting firm, reported that J. Cliff McCurry has joined the firm as vice chairman. McCurry will oversee business development activities...
EPIC Acquires VRT Insurance Services
Feb 2 2009 // EPIC (Edgewood Partners Insurance Center) has entered into an agreement to acquire substantially all the assets of VRT Insurance Services Inc. The transaction is expected to close in early February, 2009. VRT Insurance...
Report: AIG Eyes Federal Backstop on Assets, Recapitalization Options
Feb 2 2009 // American International Group, the insurer rescued from collapse by the government in September, is in discussions with Washington about a federal backstop for some of its assets, The Wall Street Journal reported...
S&P Takes Rating Actions on Aurora, Unipol, UGF Ahead Of Merger
Feb 2 2009 // Standard & Poor’s Ratings Services announced that it has withdrawn its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on Italy-based composite insurer Aurora Assicurazioni...
PartnerRe to Release Q4, FY Earnings Today; Conference Call Details
Feb 2 2009 // Bermuda-based PartnerRe will release its 2008 fourth quarter and full year results after the market close today, Monday, February 2, 2009. PartnerRe senior management will conduct a dial-in conference call, which will...
Eastern Insurance Acquires Rosemary Walker Agency in Massachusetts
Jan 29 2009 // Natick, Massachusetts-based Eastern Insurance Group has acquired Rosemary Walker Insurance Agency in Danvers. Terms of the deal were not disclosed. Rosemary Walker was founded in 1970. Eastern said the acquisition will...
Diablo Valley Insurance Acquires Gingrich Insurance Brokers
Jan 29 2009 // Diablo Valley Insurance Agency Inc. of Walnut Creek, Calif., acquired the assets of Gingrich Insurance Brokers of Orinda, Calif. Gingrich Insurance Brokers with annualized revenues of approximately $900,000, focuses on...
Texas Security General Acquires Business of Emerald Surplus
Jan 26 2009 // Effective Jan. 1, 2009, San Antonio-based Texas Security General Insurance Agency Inc. (TSGA) officially acquired the stock of Emerald Surplus Inc. and is transitioning all business to TSGA, the company announced. All...
Hannover Re Buys ING’s Life Portfolio from Scottish Re
Jan 23 2009 // Hannover Re is buying a life insurance portfolio of ING Groep from Scottish Re to become the fifth-biggest individual life reinsurer in the United States, the company said on Friday. While Hannover Re did not say what it...
PartnerRe Analyzes January Non-Life Renewals
Jan 23 2009 // Bermuda’s PartnerRe Ltd. announced that during the January 1 renewal season it expects to write and bind approximately $2.1 billion of Non-Life premium. The life renewals are not included, as they are distributed...
Bankers Insurance Moves into North Carolina, Acquiring HVWM Group
Jan 22 2009 // Bankers Insurance, LLC has acquired the Hutton Vincent Williamson McLean Insurance Group (HVWM) based in Asheville, N.C. HVWM is one of the oldest and largest independent agencies in western North Carolina. This purchase...
Insurance Brokerage Scanlon, Guerra, Burke Names Schneir Partner
Jan 22 2009 // Justin Schneir has been named a partner in the Woodland Hills, Calif.-based insurance brokerage firm of Scanlon, Guerra, Burke. He has been with SGB since 2003. According to the company, the promotion of Schneir continues...
Best Affirms PartnerRe’s ‘A+’ Ratings
Jan 21 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings of “aa-” of the Bermuda-based PartnerRe Group and its members. Best also affirmed the ICR...
