Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Brown & Brown Acquires Louisiana’s Insurance 1 Inc.
Dec 22 2008 // Brown & Brown Inc. announced it is acquiring Alexandria, La.-based Insurance 1 Inc. With annualized revenues of approximately $800,000, Insurance 1 focuses on property and casualty, as well as health and life...
Tower and CastlePoint Set Shareholder Meetings to Approve Merger
Dec 22 2008 // The New York-based insurer Tower Group, Inc. and Bermuda-based CastlePoint Holdings, Ltd. have both fixed a record date and a date for their respective special general meeting for shareholders to consider and vote on the...
Mergers Slow as New Agencies Pop Up
Dec 21 2008 // Report: Number of Agencies Unchanged Since 2006 A new study by an industry trade group has found that the decade-long contraction in the number of insurance agencies has ceased during the past two years — a move...
Gallagher Stocks Up; M&A Activity Steady
Dec 21 2008 // Stock Prices: Arthur J. Gallagher’s stock price remarkably continues to hold strong as many stocks are experiencing historical declines. Gallagher is up 6.5 percent for the year. M&A Activity: Brokerage activity...
2008: Busy Year for Mergers, Big and Small
Dec 21 2008 // A lot happened in the world of insurance agency/brokerage mergers and acquisitions in 2008. Willis made the biggest slash with its $2.1 billion acquisition of Hilb Rogal & Hobbs Co. (HRH), one of the world’s...
BB&T to Acquire Florida’s J. Rolfe Davis Insurance
Dec 19 2008 // BB&T Insurance Services, the nation’s sixth largest insurance broker, reports it plans to acquire J. Rolfe Davis Insurance of Maitland, Fla. Founded in 1942 by former Orlando mayor J. Rolfe Davis, the...
CRC Insurance to Acquire North Carolina-Based TAPCO Underwriters
Dec 19 2008 // CRC Insurance Services Inc., the wholesale insurance subsidiary of BB&T Corp. principal subsidiary Branch Banking and Trust Co., reports that it plans to acquire TAPCO Underwriters Inc. TAPCO will operate as a...
Former 49ers Kicker’s Business Partner Sentenced for Insurance Fraud
Dec 19 2008 // An ex-business partner of former San Francisco 49ers kicker Ray Wersching has been sentenced to three years and three months in prison for insurance fraud. Mary Ann Locke was sentenced last week to 39 months in prison and...
UK’s Chartered Insurance Institute Drops Australian Merger Plans
Dec 19 2008 // The UK’s Chartered Insurance Institute said in a brief statement that it has “has decided to terminate the proposed merger with the Australian professional body ANZIIF after a number of financial discrepancies...
Coleman Named Director and Limited Partner at Texas Wasatch Group
Dec 18 2008 // Texas auto and home insurance broker, Texas Wasatch Insurance/TWG Insurance, has promoted Cleveland Coleman to director. He also was named a limited partner of the firm. The promotion reflects the ongoing success of the...
Brown & Brown Acquires New Mexico’s Charter Insurance
Dec 18 2008 // Brown & Brown Inc. announced the asset acquisition of Charter Insurance Services, Inc. in Albuquerque, New Mexico. Charter Insurance Services, Inc., with annualized revenues of approximately $1.1 million, focuses on...
Brown & Brown Acquires Louisiana Agency
Dec 18 2008 // Florida-based Brown & Brown Inc. announced it has acquired Alexander & Bolton Inc., of Alexandria, La. Alexander & Bolton, founded in 1890, is one of Louisiana’s longest operating insurance agencies....
OnPoint Underwriting To Acquire Commercial Insurance Services
Dec 17 2008 // Atlanta-based OnPoint Underwriting has acquired the assets of Commercial Insurance Services, based in Greenwood Village, Colo. Terms of the transaction were not disclosed. Commercial Insurance Services is led by Bob...
American Pinnacle Partners Acquires Consolidated Special Risk Managers
Dec 16 2008 // Seal Beach, Calif.-based American Pinnacle Partners Inc. has acquired 100 percent of Consolidated Special Risk Managers Inc. a MGU founded in 1990. Focused on the A&H/Benefits sector, CSRM has a large presence in the...
AIG Sells Residential Mortgage-Backed Securities Portfolio to Government
Dec 16 2008 // American International Group’s life insurance companies have sold residential mortgage-backed securities with a face value of $39.3 billion to the Federal Reserve Bank of New York (FRBNY) as part of its efforts to...
Medical Liability Insurer Proassurance Buys Houston’s Mid-Continent Agency
Dec 16 2008 // Birmingham ,Ala.-based ProAssurance Corp. said it will acquire Mid-Continent General Agency for an undisclosed price. Mid-Continent is a managing general agent, based in Houston, producing about $25 million a year in...
Edgewood Partners Insurance Center Acquires Complete Insurance Services
Dec 12 2008 // In an expansion of its California operations, E.P.I.C (Edgewood Partners Insurance Center), a retail property, casualty and employee benefits insurance brokerage, recently acquired Complete Insurance Services in Irvine,...
HCC Insurance Holdings Acquires Arrowhead Public Risk, U.S. Risk Insurance Brokers’ Criminal Justice Division
Dec 12 2008 // Houston-based HCC Insurance Holdings Inc.has acquired Arrowhead Public Risk, a division of Arrowhead General Insurance Agency Inc., and also acquired the Criminal Justice division of U.S. Risk Insurance Brokers. The...
Zurich Concludes Partnerships with 3 Non-Profit Organizations
Dec 12 2008 // Zurich Financial Services Group announced that its Z Zurich Foundation has established 5-year partnerships with “three globally active Non-Profit Organizations (NPOs) to address global, social and environmental...
Insurance CEO Buys Actress Lange’s Minnesota Home for $1.8 Million
Dec 12 2008 // The buyers of Jessica Lange’s home in Stillwater, Minn. have been revealed. According to the Washington County Assessor’s Office, the buyers are Patrick and Jane Thiele. Patrick Thiele is a former top executive...
