Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Nevada Governor Signs Bill to Change Division of Insurance Funding
Jun 2 2009 // Nevada Gov. Jim Gibbons has signed a bill that will change the funding structure of the Nevada Division of Insurance and strengthen consumer protections in the area of viatical settlements. The bill, Senate Bill 426,...
China’s CNinsure Acquires Hongzhengda
Jun 1 2009 // CNinsure Inc., China’s largest independent insurance intermediary, announced the “signing of definitive agreements to acquire 100 percent equity interest in Shenzhen Hongzhengda Insurance Surveyors & Loss...
Hub International Acquires Wash.’s Rettenmier Benefits Group
May 27 2009 // Hub International Ltd.’s Northwest operating unit has acquired the assets of Rettenmier Benefits Group Inc., an Everett, Wash.-based employee benefits consulting and insurance brokerage firm serving businesses and...
Marsh Partners with Executive Search Firm to Increase Diversity
May 20 2009 // Marsh & McLennan Companies Inc. and executive search firm Heidrick & Struggles International Inc. have agreed to partner on a recruitment initiative to help attract a more diverse talent pool to MMC. Under the...
Arthur J. Gallagher & Co. Acquires Nourse Insurance Brokers
May 19 2009 // Arthur J. Gallagher & Co. has acquired Nourse Insurance Brokers Inc. in Walnut Creek, Calif. Terms of the transaction were not disclosed. Founded in 1935, Nourse Insurance Brokers Inc. is a retail insurance broker...
AIG Sells Tokyo Building for $1.2 Billion
May 12 2009 // American International Group has signed an agreement to sell its prime real estate holding in Tokyo for approximately $1.2 billion in cash (Yen115.5 billion) to Nippon Life Insurance Company. The property consists of...
Brown & Brown to Buy New York’s Irving Weber Associates
May 12 2009 // Brown & Brown, Inc. has agreed to acquire a Long Island-based insurance agency, Irving Weber and Associates. The deal is expected to close in late May. With annualized revenues of approximately $4 million, Irving...
Arthur J. Gallagher Acquires Texas-based Employee Benefit Broker
May 11 2009 // Arthur J. Gallagher & Co. has acquired the Sellers Group LLC, an employee benefit broker in The Woodlands, Texas. Terms of the transaction were not disclosed. Established in 1997, Sellers Group LLC offers a full range...
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...
