Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Brown & Brown Inc. Acquires Assets of Preferred Insurance Services
Jan 5 2009 // A subsidiary of Florida-based Brown & Brown Inc. has acquired the assets of Phoenix, Ariz.,-based Preferred Insurance Services LLC. Preferred Insurance Services, with annualized revenues of approximately $1.3 million,...
Brown & Brown Inc. Acquires Baker, Thomsen Associates Insurance Services
Dec 31 2008 // A subsidiary of Florida-based Brown & Brown Inc. has acquired the assets of Thomsen Associates Insurance Services of Newport Beach, Calif. Baker, Thomsen Associates Insurance Services, with annualized revenues of...
Best Sees No Rating Change for Munich Re from HSB Acquisition
Dec 29 2008 // A.M. Best Co. has commented that the financial strength rating (FSR) and issuer credit ratings (ICR) of Munich Reinsurance Company and its subsidiaries are unchanged following its agreement to acquire specialty insurer HSB...
AIG Buys $16 Billion of Collateralized Debt Obligations It Insured for Default
Dec 29 2008 // American International Group says it purchased $16 billion of complex financial instruments in an effort to reduce its exposure to insurance guarantees written against the instruments. The insurer bought investments known...
Report Japan Insurers Mitsui, Aioi and Nissay in Merger Talks
Dec 29 2008 // Japan’s Mitsui Sumitomo Insurance Group Holdings Inc, Aioi Insurance Co and Nissay Dowa General Insurance Co are in talks to merge, a company source said, in a move that would create the country’s largest...
Bollinger Acquires BK International Insurance Brokers
Dec 29 2008 // Short Hills, New Jersey-based insurance agency Bollinger Inc. has acquired BK International Insurance Brokers of Greenwich, Connecticut. The acquisition is the second this month and the fourth this quarter for Bollinger,...
Bollinger Acquires Allied Insurance Services
Dec 23 2008 // Short Hills, New Jersey-based Bollinger Inc., one of the largest insurance agencies in the country, has acquired Allied Insurance Services (AIS). As part of the acquisition, Michael M. Rossi III, principal owner of...
Zurich Insurance Says It’s Actively Looking for Acquisitions
Dec 23 2008 // Swiss insurer Zurich Financial Services Group, a serial acquirer in recent years, is not letting tighter credit markets hamper its pursuit of acquisitions, a company executive said on Monday. “Zurich is definitely in...
Scottsdale Launches Canada Partnership with Co-operators
Dec 23 2008 // Scottsdale Insurance Company has announced the launch of a partnership with “The Co-operators, the leading Canadian-owned, mutli-product insurer, to assist them in expanding their commercial lines portfolio and to...
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...
