Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Edgewood Partners Makes Hires in Orange County, San Francisco
Nov 5 2007 // San Mateo, Calif.-based Edgewood Partners Insurance Center has named Abe Gottesman senior vice president for its Orange County, Calif., ofice. Gottesman will produce and manage mid-market to large national and global...
10 Calif. DOI partners with CAL FIRE
Nov 4 2007 // Groups aim to prevent fire losses during height of wildfire season 10 Hawaii approves 19.3% workers’ comp decrease NCCI recommended 16.8 percent drop 10 Calif. approves AAA’s 6.5% auto rate reduction Carrier...
Commercial insurers stock prices, M&A activity flat in third-quarter 2007
Nov 4 2007 // Stock Prices: Commercial property/casualty insurer stocks have been relatively flat through the third quarter of 2007. Chubb Corp. (NYSE:CB) had the largest gains for the year, up a modest 3 percent. M&A Activity: The...
Munich Re’s ERGO in Joint Venture with Indian Insurer HDFC Ltd.
Nov 2 2007 // In a joint statement Indian housing finance pioneer HDFC Ltd. and Germany’s ERGO (Munich Re’s primary insurance division) announced that they have agreed to form a general insurance joint venture. The...
Best Sees No Change in Mapfre Ratings from Commerce Acquisition
Nov 2 2007 // A.M. Best Co has commented that the issuer credit rating (ICR) of “a” of Mapfre S.A. (formerly Corporacion Mapfre S.A., the holding company of Spain’s Mapfre Group) “remains unchanged following the...
Mapfre Cites Hispanic Insurance Market Potential Behind Commerce Acquisition
Nov 1 2007 // The potential of the Hispanic insurance market is one of the factors attracting Spanish insurer Mapfre to its acquisition of the Massachusetts-based personal lines writer Commerce Group. Mapfre officials calculate that...
S&P Affirms Commerce, Mapfre Ratings; Few Concerns Over Merger
Oct 31 2007 // Standard & Poor’s Ratings Services said today that it affirmed its ‘BBB’ counterparty credit rating on Commerce Group Inc. and its ‘A’ counterparty credit and financial strength ratings...
Munich Re Acquires UK’s MSP Underwriting/Stake in Syndicate 318
Oct 30 2007 // Munich Re is acquiring the UK Company MSP Underwriting Ltd. for a figure it said is in the “mid double-digit million Euro range.” MSP Underwriting Ltd. owns both the Lloyd’s managing agency Beaufort...
Guy Carp Partners with WSI Corp. to Assess U.S. Hurricane Risks
Oct 30 2007 // Guy Carpenter & Company, LLC, Marsh & McLennan’s global risk and reinsurance unit, has announced a collaboration with WSI Corporation, a provider of weather-driven business solutions, to “help cedants...
Spain’s Mapfre to Buy Mass.-Based Commerce Insurance for $2.2 Billion
Oct 30 2007 // Spain’s largest insurer, Mapfre S.A., has agreed to buy the Massachusetts-based personal lines insurer The Commerce Group, Inc. for $2.21 billion in cash in a bold move to expand its presence in the U.S....
Earnings Recap: ACE, Arch, Everest Re, Montpelier Re, PartnerRe, Transatlantic Re, Willis
Oct 26 2007 // A number of international companies have recently published their earnings results for the third quarter of 2007 and the first nine months of the year. Highlights of these reports – in alphabetical order – are...
Md.-Pa.-Del. Agents Group Highlights Delaware Merger, Elects Officers
Oct 26 2007 // The Insurance Agents & Brokers Service Group held its annual meeting Oct. 17, marking a year that included the inception of the Delaware Association of Insurance Agents & Brokers Inc. into its organization. The...
Lack of Funding Halts Buyout of Homes in Okla. Superfund Site
Oct 26 2007 // The panel in charge of a federally funded buyout of homes located within the Tar Creek Superfund Site in Oklahoma has stopped making offers to homeowners because of a lack of funding, an official said. The Lead-Impacted...
Burns & Wilcox Appoint Liverance Director of Talent Acquisition
Oct 23 2007 // Farmington Hills, Mich.-based Burns & Wilcox recently announced that Steve Liverance has joined the company as director of talent acquisition. Liverance is responsible for developing and implementing a company-wide...
North Point Holdings Acquires Home Pointe Insurance for $15.3 Million
Oct 23 2007 // Mich.-based North Pointe Holdings Corp. announced Monday that it has signed an agreement for the sale of its Home Pointe Insurance Co. subsidiary, which comprises North Pointe’s Florida homeowners and dwelling fire...
PartnerRe Releases Q3 Results
Oct 22 2007 // Bermuda-based PartnerRe will release its 2007 third quarter and nine month results after the market close today, October 22, 2007. The Company’s senior management will conduct a dial-in conference call, which will...
Best Announces Rating Actions on Munich Re/Midland Acquisition
Oct 19 2007 // A.M. Best Co. has commented that the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of Germany’s Munich Re Group and the FSR of ‘A’...
Royal & SunAlliance Canada to Acquire Canadian Northern Shield Insurance
Oct 18 2007 // The Royal & SunAlliance Canada Group announced that it has entered into an agreement to purchase all of the shares of Canadian Northern Shield Insurance Company (CNS) from The CUMIS Group Limited for approximately $75...
Wholesaler AmWINS Buys Calif.’s London American General
Oct 18 2007 // AmWINS Group, Inc., a national wholesale insurance broker based in Charlotte, N.C., reports it has acquired London American General Agency, Inc. Based in San Diego, California, London American is a managing general agent...
Munich Re to Acquire Midland Co.
Oct 17 2007 // It didn’t take Munich Re very long to make good on its intentions to expand in then U.S. P/C market (See IJ web site Oct. 9). The world’s second largest reinsurer announced today that it has “concluded an...
