Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Hub International Acquires Fredricksen Insurance Services
Sep 10 2008 // Chicago-based Hub International Ltd. has acquired Fredricksen Insurance Services, a Hemet, Calif., agency, as well as acquired PMT, Fredricksen’s retail brokerage subsidiary. Fredricksen’s operations will...
Florida-based Comegys Insurance Acquires Jakhotia Insurance Group
Sep 9 2008 // St. Petersburg, Florida-based Comegys Insurance recently acquired Tampa-based Jakhotia Insurance Group. The employees of both firms will combine all operations in Comegys’ offices in St. Petersburg effective...
PartnerRe to Repurchase Shares
Sep 9 2008 // Bermuda-based PartnerRe Ltd. announced that its Board of Directors has approved an increase in the Company’s share repurchase authorization for a total of up to 5 million common shares. “This reflects an...
Hub International Acquires Arnold & Associates
Sep 8 2008 // Chicago-based Hub International Ltd. has acquired the assets of Arnold and Associates Inc., a Phoenix-based agency specializing in employee benefits. Arnold will become part of Hub International of Arizona, a division of...
Wells Fargo Acquires Char Clark Associates
Sep 4 2008 // Wells Fargo Insurance Services, a subsidiary of Wells Fargo & Co., has acquired the assets of Spokane, Wash.’s Char Clark Associates Inc. The acquisition adds to Wells Fargo’s presence in Washington...
Hilb Rogal & Hobbs Acquires G.A. Pearson and Associates Insurance Brokers
Sep 4 2008 // Hilb Rogal & Hobbs Co. announced that, effective as of September 1, 2008, it has acquired all the stock of G.A. Pearson and Associates Insurance Brokers Inc. Terms of the transaction were not disclosed. With...
Wholesaler CRC Insurance Acquires Competitor Southern Risk of S.C.
Sep 3 2008 // CRC Insurance Services Inc., the wholesale insurance subsidiary of BB&T Corp., reports it has completed a purchase of Southern Risk Operations LLC. Sumter, S.C.-based Southern Risk is an excess and surplus (E&S)...
Unitrin to Acquire Auto Insurer Direct Response Corp. for $220M
Sep 3 2008 // Unitrin, Inc. reported today that its subsidiary, Trinity Universal Insurance Co. is buying Direct Response Corp. and its subsidiaries. Trinity will acquire Direct Response in a cash transaction valued at approximately...
Hallmark Financial Services Acquires Heath Group
Sep 3 2008 // Hallmark Financial Services Inc. acquired 80 percent of the outstanding membership interests in Heath XS LLC and Hardscrabble Data Solutions LLC (collectively referred to as “Heath Group”) for cash...
Florida Approves AmCOMP Merger, Wants $8.4 Million Refund
Sep 2 2008 // Florida Insurance Commissioner Kevin McCarty approved the merger of AmCOMP with Employers Holdings Inc. and required AmCOMP to repay $8.4 million in excessive profits to its Florida policyholders. AmCOMP ‘s insurance...
Hilb Rogal & Hobbs Acquires San Diego’s G.A. Pearson Insurance
Sep 2 2008 // Virginia-based insurance brokerage Hilb Rogal & Hobbs Co. (HRH) reports it has has G.A. Pearson and Associates Insurance Brokers, Inc. of San Diego, Calif. Terms of the transaction were not disclosed Pearson had...
Allianz Sells Dresdner to Commerzbank for $14.23 Billion
Sep 2 2008 // After weeks of speculation, Germany’s Allianz SE has announced the sale of its Dresdner Bank unit, the country’s third largest, to Commerzbank for €9.8 billion ($14.2289 billion). Allianz also said it has...
Brokers’ Stocks Up Slightly for the Year; Banks Active in Brokerage M&As
Sep 1 2008 // Stock Prices: The brokerage sector as a whole is up 2 percent for the year. Arthur J. Gallagher’s (NYSE:AJG) stock has faired well compared to peer Brown & Brown (NYSE:BRO). Gallagher’s stock is up 6.5...
Commerzbank Poised to Buy Allianz’s Dresdner Bank Subsidiary
Aug 29 2008 // Allianz SE is set to sell control of Dresdner Bank to Commerzbank AG, a source with direct knowledge of the matter said on Friday. The deal would fuse Germany’s second and third largest banks. Taking over Dresdner,...
Employers Holdings Amends Merger Deal with AmCOMP over Florida Refunds
Aug 29 2008 // Reno, Nev.-based Employers Holdings Inc. has agreed to an amendment to the terms of its pending acquisition of AmCOMP Inc. that accounts for a regulatory ruling requiring policyholder refunds in Florida. In connection with...
AIG Buys 18% Stake in China’s MicroCred Nanchong
Aug 28 2008 // American International Group has acquired 18 percent of MicroCred Nanchong, China (MNC). The deal also gives AIG the exclusive right to sell micro insurance to MNC clients for two years. “MNC is the first wholly...
Willis Launches So. Africa M&A Practice
Aug 27 2008 // Willis Group Holdings has launched a new Mergers & Acquisitions (M&A) Practice in South Africa “to serve the insurance brokerage and risk management needs of the burgeoning private equity sector and local...
Tower and CastlePoint to Acquire Hermitage Insurance for $135M
Aug 27 2008 // Tower Group, Inc. and CastlePoint Holdings, Ltd. announced today that CastlePoint Reinsurance Co., Ltd., a Bermuda-based subsidiary of CastlePoint, has agreed to acquire HIG, Inc. Bermuda-based CastlePoint said it will pay...
Darwin to Buy Great American’s Lawyers Professional Liability Business
Aug 26 2008 // Farmington, Connecticut-based Darwin Professional Underwriters, Inc. reports it will acquire renewal rights to Great American’ Insurance Co.’s roughly $20 million of small, standard market lawyers professional...
Cherry Creek Insurance Agency Acquires Montana’s Hanes Hathaway
Aug 25 2008 // Denver-based Cherry Creek Insurance has acquired Montana-based Hanes Hathaway Inc., a specialty agency that focuses on coverage and risk exposures for technology related firms.As part of the acquisition, Cherry Creek will...
