Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Bollinger Acquires Gail Steinberg & Co. Inc.
May 7 2009 // New Jersey-based insurance brokerage Bollinger Inc. has acquired Gail Steinberg & Co. Inc. of New York, New York, the company announced. In connection with the merger, Gail Steinberg, president and chief executive...
West Virginia’s City National Bank Acquires 2 Insurance Agencies
May 5 2009 // Charleston, West Virginia-based City National Bank and its insurance division, CityInsurance Professionals, reported they have acquired two local insurance agencies: the Patton Insurance Agency in Nitro and the Dickens...
Max Capital Responds to Validus’ Plan to Acquire IPC Holdings
May 5 2009 // The Bermuda-based Max Capital Group Ltd. has released a statement indicating that it believes “that recent actions by Validus Holdings, Ltd., including its announced plan to launch a highly conditional hostile stock...
‘Red Flags’ to Watch For When Choosing an MGA Partner in a Bad — and Good — Economy or Market
May 4 2009 // In today’s tough economy and prolonged soft market, some insurance firms are likely to get into financial trouble. Smaller wholesalers and managing general agencies (MGA) may be at risk. Their ability to stay afloat...
50 Reasons Why Retail Agents Choose Managing General Agency Partners
May 4 2009 // As a large broker, this is decided based on relationships, successes, volumes, commissions levels, service. In other words we are dictated by volume. Service, service, service, markets, price, service. Personal...
Lloyd’s to Buy Back $151.7 Million of Debt Securities
May 1 2009 // Lloyd’s announced that it will repurchase the local currency equivalent of £102 million ($151.67 million) of its outstanding debt securities, following its invitation to holders to submit offers to sell their...
Validus Offers ‘Three-Part Plan’ to Expedite Acquisition of IPC Holdings
May 1 2009 // In the latest round of the fight for control of IPC Holdings, Bermuda-based Validus Holdings outlined a three-part plan to acquire IPC, which, it said, would “allow IPC shareholders to obtain the benefit of...
Hub Sells ABCO Insurance Wholesaler to Former Owner
Apr 29 2009 // Insurance broker Hub International Limited is selling some of its Florida wholesale and specialty insurance business back to a previous owner. Hub said it is selling Hub International Florida, including wholesaler ABCO...
Regulator Sees Mergers Coming in Weakened Life Insurance Sector
Apr 29 2009 // U.S. life insurers, weakened by the global financial crisis, are in for mergers and regulators will not shy away from playing matchmaker to deal with weak companies, Eric Dinallo, New York’s insurance superintendent,...
PartnerRe Posts $141 Million Q1 Net Earnings; Conf. Call Today
Apr 28 2009 // Bermuda-based PartnerRe Ltd. posted net income of $141.5 million, or $2.32 per share on a fully diluted basis for the first quarter of 2009, compared to $129 million in the same period of 2008. “Net income includes...
Wells Fargo Acquires North Coast Surety Insurance Services
Apr 23 2009 // Wells Fargo Insurance Services Inc., part of Wells Fargo & Co., has acquired the assets of North Coast Surety Insurance Services and North Coast Surety Technologies on April 1. Terms were not disclosed. Based in...
Lloyd’s Offers to Buy Back Debt at Discount
Apr 22 2009 // Citing a strong capital position and current market conditions, Lloyd’s of London has offered to buy back up to 100 million pounds ($145 million) worth of bonds at a discount. The offer applies to fixed/floating rate...
Scanlon Guerra Burke Insurance Brokers Names Schneir Partner
Apr 16 2009 // Scanlon Guerra Burke Insurance Brokers of Woodland Hills, Calif., has named Justin Schneir a partner. He specializes in metal goods manufacturing and malpractie insurance. He has been with the company for four years and...
Fortegra Completes Acquisition of Bliss & Glennon from Willis HRH
Apr 16 2009 // Jacksonville, Fla.-based Fortegra Financial Corp., an insurance services company specializing in affinity marketing, payment protection, mass marketing and administration, has completed the acquisition of Bliss &...
Farmers To Acquire AIG’s Personal Auto Group for $1.9 Billion
Apr 16 2009 // Los Angeles-based the Farmers Insurance Group of Companies has announced it will acquire American International Group’s (AIG’s) Personal Auto Group, which includes 21st Century Insurance Co. The acquisition...
Guy Carpenter Completes Acquisition of John B. Collins Associates
Apr 9 2009 // Guy Carpenter & Co. LLC completed the previously announced acquisition of John B. Collins Associates Inc. The acquisition of Collins, the fifth largest reinsurance intermediary in the United States and seventh largest...
National Insurance Partners’ New Product Covers Independent Directors
Apr 6 2009 // Austin, Texas-based National Insurance Partners Inc. (NIP) has launched a broad form of directors and officers insurance coverage for independent directors of companies. X-PROTECT is offered in partnership with the...
Auto Club Insurance Association Acquires MEEMIC Insurance Co.
Apr 3 2009 // Auto Club Insurance Association, a Dearborn, Mich.-based insurer (ACIA), has acquired MEEMIC Insurance Company (MEEMIC) and its insurance agency affiliate, MEEMIC Insurance Services Corporation. ACIA offers a full range of...
Florida Senate Postpones Vote on Catastrophe Funding Bill
Apr 2 2009 // A Senate committee searching for ways to improve Florida’s shaky property insurance situation and lower the state’s risk recommended borrowing money from the state retirement system to obtain some short-term...
Texas Independent Agents Urge Adequate Windstorm Funding
Mar 27 2009 // Since funding for the Texas Windstorm Insurance Association (TWIA) has become a top priority for the Texas Legislature, statewide lawmakers have debated several solutions that will impact policyholders in Texas, according...
