Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Hiscox Takes 49% Stake in UK Broker Allison & Partners
Aug 15 2007 // The Bermuda-based Hiscox Group has purchased 49 percent of UK Professional Indemnity broker and underwriting agency, Allison and Partners Insurance Services for an undisclosed price. The deal includes an option to buy the...
Allianz Sells Property Portfolio to IVG
Aug 14 2007 // Germany’s Allianz announced that it has “sold a portfolio of German property to IVG Immobilien AG for around €1.3 billion [$1.765 billion]. The portfolio comprises several buildings currently occupied by...
GAINSCO Sells E&S Writer General Agents Insurance Co. to Montpelier Re
Aug 14 2007 // Dallas-based GAINSCO, Inc. and its insurance subsidiary MGA Insurance Co. Inc. have agreed to sell their affiliate General Agents Insurance Co. of America, Inc. to Montpelier Re U.S. Holdings Ltd. for $4.75 million. The...
Texas’ Combined Group and Affiliates Acquired by Brown & Brown
Aug 13 2007 // Fla.-based Brown & Brown Inc. and the Combined Group Companies, of Carrollton, Texas, announced the asset acquisition of the Combined Group by a Brown & Brown subsidiary. The acquisition includes Combined Group...
AIG to Acquire German Insurer, Wuba
Aug 10 2007 // American International Group, Inc. (AIG) reports it is stepping up its presence in the German insurance market by acquiring a German insurer that offers coverage for small and medium firms. A subsidiary of AIG is acquiring...
SCOR/Converium Merger Pact Final Settlement; Share Issue
Aug 9 2007 // France’s SCOR Group announced that it has effectively concluded its share purchase/merger deal with Swiss-based Converium Holding AG. As of the close of its tender offer on July 26, 2007, SCOR had received 15,032,037...
Commerce Insurance, Commerce Banc Pursue Partnership Over Lawsuit
Aug 9 2007 // The Commerce Group, Inc., a property/casualty insurer based in Webster, Mass., and Commerce Banc Insurance Services of Cherry Hill, New Jersey, report they have reached an agreement to explore partnership opportunities in...
Argonaut, PXRE Complete Merger; Officers Named; Financial Statement
Aug 8 2007 // The newly-formed Argo Group International Holdings, Ltd. announced the completion of its merger between Argonaut Group, Inc. and a wholly owned subsidiary of PXRE Group, Ltd. concluding the deal made earlier this year (See...
Start-Up Specialty Insurer in Conn. Completes $279 Million in Funding
Aug 8 2007 // SPARTA Insurance Holdings, Inc. reports that it has closed its contractual arrangements for funding in the amount of $279.1 million of private equity capital from a consortium of investors led by Corsair Capital, and...
Texas-based Brokerage Acquired by HUB Transportation Unit
Aug 7 2007 // Hub International Transportation Insurance Services Inc. (HUB Transportation) acquired Templeton Southwest Insurance Agency Inc. and Templeton Southwest of Houston Insurance Agency Inc. (Templeton), according to an...
Bollinger Acquires Redmond & Associates of N.J.
Aug 7 2007 // Insurance broker Bollinger, Inc. reports it has acquired William J. Redmond & Associates of Freehold, N.J. The agency will relocate to Bollinger’s headquarters in Short Hills, N.J. Agency owner William Redmond...
Hub Acquires N.Y.’s Jacobs & Jacobs
Aug 6 2007 // Hub International Limited reports it has acquired the New York risk management firm, Jacobs & Jacobs, Inc. (J&J). J&J’s operations became part of Hub International Northeast (HUB Northeast), expanding...
Subsidiary of Fla.’s Brown & Brown Acquires Kentucky Firm
Aug 2 2007 // A subsidiary of Florida-based Brown & Brown Inc., acquired the assets of Weilage Benefit Specialists Inc., of Louisville, Ky., according to Brown & Brown Regional Executive Vice President J. Scott Penny. Weilage...
Citi Completes Acquisition of BISYS; Resells Retirement Unit to J.C. Flowers
Aug 2 2007 // Citi reports it has completed its previously announced acquisition of The BISYS Group, Inc. for approximately $1.44 billion in an all-cash transaction. In the transaction BISYS shareholders will receive merger...
Hilb Rogal & Hobbs Completes Acquisition of Kan. Benefits Firm
Aug 2 2007 // Hilb Rogal & Hobbs Company announced that it has completed the previously announced acquisition of substantially all the assets of The Resource Group L.C. (TRG) of Overland Park, Kan. Terms of the transaction,...
UPS Agrees to Offer Benefits to Gay Partners in N.J.
Aug 1 2007 // After persuasion from New Jersey’s governor and attorney general, UPS Inc. said Monday that it would extend health insurance benefits to the civil union partners of gay employees in New Jersey covered by a union...
Shand Morahan Buys Investment E&O Specialist Cambridge Alliance
Aug 1 2007 // Shand Morahan & Co. Inc., a Markel Corp., reports it has acquired Cambridge Alliance, a Burlington, Vermont managing general agency that specializes in errors and omissions insurance for registered investment advisors...
Hub Buys Texas-Based Rigg Group’s Retail, Wholesale Operations
Aug 1 2007 // Hub International Ltd. reports it has agreed to acquire all of the stock of The Rigg Group, Inc., one of the largest Texas-based insurance brokers. The acquisition includes The Rigg Group’s subsidiaries Wm. Rigg Co.,...
Hilb Rogal & Hobbs Acquires Colorado’s Brown/Raynor Agency
Aug 1 2007 // Hilb Rogal & Hobbs Co. of Richmond, Virginia, has acquired the property/casualty insurance agency Brown/Raynor Corp. of Colorado. Terms of the transaction, which closed on July 31, 2007, were not disclosed. Founded in...
NSM Acquires Fla. Hotel Program Administrator Target Insurance Group
Aug 1 2007 // National insurance broker NSM Insurance Group of Conshohocken, Pa. reports it has acquired Brandon, Fla.-based Target Insurance Group, program administrator of the Express Hotel Motel Program. “The Express Hotel...
