Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Liberty Mutual to Acquire Safeco Insurance in $6.2 Billion Deal
May 5 2008 // Liberty Mutual Group has agreed to acquire all outstanding shares of common stock of Safeco Corp. for $68.25 per share in cash in a deal that will make Liberty Mutual the fifth largest U.S. property/casualty insurer and...
ING to Buy CitiStreet for $890 Million
May 2 2008 // Dutch financial services group ING Groep NV announced it would buy CitiStreet, a retirement plan administrator, grabbing third place in the defined contribution business in the United States. ING said in a statement it...
Arthur J. Gallagher Acquires N.J. Employee Benefit Broker RSI
May 2 2008 // Insurance broker Arthur J. Gallagher & Co. reports it has acquired RSI of Mount Laurel, New Jersey. Terms of the transaction were not disclosed. Founded in 1980, RSI offers employee benefit consulting and brokerage...
ISG’s Pacific Wholesale to Acquire E.L.M. Insurance Brokers
May 2 2008 // Insurance Specialty Group LLC, parent of Atlanta, Ga.-based Pacific Wholesale Insurance Brokers (Pacific Wholesale) entered into definitive agreements to acquire and merge with El Segundo, Calif.-based E.L.M. Insurance...
Wells Fargo Acquires Insurance Premium Finance Firm Flatiron
May 1 2008 // Wells Fargo Bank reports it has acquired the business of Colorado-based Flatiron Credit Co., Inc. and its operating subsidiaries. Flatiron was a subsidiary of TD Banknorth, N.A. and is one of the nation’s largest...
PartnerRe Q1 Net Drops 24%
Apr 29 2008 // Bermuda-based PartnerRe Ltd. reported net income of $129.0 million, or $2.16 per share, for the first quarter of 2008, compared to $169.3 million for Q1 2007, a 24 percent decrease. The income figure includes net realized...
BB&T Insurance Services To Acquire Union Bank of California Brokerage
Apr 24 2008 // Raleigh, N.C.-based BB&T Insurance Services has reached an agreement with Union Bank of California North America to purchase its San Diego-based insurance subsidiary, UnionBanc Insurance Services Inc. The acquisition...
Zurich Acquires 50% of Spain’s Caixa Sabadell Life & P/C Insurance Units
Apr 24 2008 // Zurich Financial Services Group announced that it has signed agreements to acquire a 50 percent stake in Spain’s Caixa d’Estalvis de Sabadell’s life and general insurance companies, CaixaSabadell Vida,...
Liberty Mutual to Acquire Safeco Insurance in $6.2B Deal
Apr 23 2008 // Liberty Mutual Group has agreed to acquire all outstanding shares of common stock of Safeco Corp. for $68.25 per share in cash in a deal that will make Liberty Mutual the fifth largest U.S. property/casualty insurer and...
NSM Insurance Group Acquires Insurex Workers’ Comp Brokerage
Apr 23 2008 // NSM Insurance Group has acquired Insurex, a California-based workers’ compensation brokerage. The acquisition “immediately expands our ability to provide new national workers’ compensation markets to our...
Zurich Expands with London M&A Unit
Apr 23 2008 // The Zurich Financial Services Group announced that its Global Corporate Mergers & Acquisitions (M&A) unit has expanded its operation through the opening of an office in London. The operation continues the...
Arkansas Gov. Says State is Losing $4.3M in Workforce Funding
Apr 22 2008 // Arkansas is losing $4.3 million in federal money already allocated for workforce training programs, Gov. Mike Beebe said. Beebe provided details of the cut in his pre-recorded radio address, released April 18. The move by...
Public Brokers’ Stocks Trading Down While M&As Fall in February, March
Apr 21 2008 // Stock Prices: Brokerage stocks have started 2008 in a downward spiral. Year-to-date the sector is trading down 13 percent. M&A Activity: With 29 acquisitions announced in February and March, the year-to-date total is...
PartnerRe Opens Brazil Rep Office; Applies for Reinsurance License
Apr 17 2008 // Bermuda-based PartnerRe Ltd. has established a representative office in Sao Paulo, and has applied for a license to become an admitted reinsurer in Brazil. “The move follows the opening of the Brazilian reinsurance...
S&P: QBE, IAG Ratings Unchanged After Rejected Merger Proposal
Apr 16 2008 // Standard & Poor’s Ratings Services said that its ‘A+’ ratings on the core operating entities of QBE Insurance Group Ltd. (currently ‘A-‘ with a stable outlook) are unchanged after...
Update: Alabama-based Alfa Corp. Completes Merger
Apr 16 2008 // Montgomery, Ala.-based Alfa Corp. is now a wholly owned subsidiary of the Mutual Group, comprised of Alfa Mutual Insurance Co. and Alfa Mutual Fire Insurance Co., according to a company announcement released Tuesday. Alfa...
RenRe to Buy Agro National’s Assets; No Rating Effect Says S&P
Apr 14 2008 // Bermuda-based property reinsurer RenaissanceRe Holdings Ltd. has agreed to acquire the assets of Agro National, a managing general underwriter of crop insurance. The terms of the transaction were not disclosed. The...
Analysts See Increase in P/C Mergers Ahead; Rate Climate Change Top Issue
Apr 14 2008 // Insurance equity analysts expect a significant increase in property/ casualty mergers and acquisitions this year, according to findings of a global survey by Accenture. More than two-thirds (71 percent) of all P/C analysts...
Willis Launches M&A Practice Covering Central and Eastern Europe
Apr 11 2008 // Willis Group Holdings, in what it described as part of its “increased focus on delivering in-depth capabilities to high growth markets,” has expanded its International Mergers and Acquisition Practice into...
South Carolina-based First Financial Unit Buys Somers-Pardue
Apr 11 2008 // Banker and insurance broker First Financial Holdings Inc. of Charleston, S.C., said Thursday its subsidiary First Southeast Insurance Services Inc. bought The Somers-Pardue Agency Inc. for $18.8 million Under the...
