Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Wells Fargo Buys 4 Agencies
Dec 20 2007 // Wells Fargo & Co.’s Wells Fargo Insurance Services Inc. reports it has bought four insurance agencies. The insurance brokerage acquired Technology Insurance Services Inc., Redwood City, Calif; Rogers &...
Edgewood Partners Makes Two Appointments
Dec 20 2007 // San Mateo, Calif.-based Edgewood Partners Insurance Center has hired Jim Halbleib as a principal and executive vice president for the San Mateo office. Halbleib will produce and manage regional, national and global...
Arch Acquires Wexford Underwriting Managers
Dec 20 2007 // Arch Insurance Group said it has completed its acquisition of Wexford Underwriting Managers and will rename the new division Arch Wexford. The deal has been in the works since January, when the two companies signed an...
ACE Acquires Personal Lines Business of Atlantic Mutual
Dec 20 2007 // The Atlantic Companies, also known as Atlantic Mutual, has sold its high-net-worth personal lines insurance business to The ACE Group of Companies for an undisclosed price. The deal, expected to close in 30 days, gives ACE...
Midwest Insurance Education Groups Announce Merger
Dec 19 2007 // Two insurance education organizations, the Insurance Education Institute (IEI) of Indianapolis, Ind., and The Griffith Foundation for Insurance Education of Columbus, Ohio, recently signed an agreement to merge effective...
XL Insurance Buys Naming Rights to Hartford Civic Center
Dec 18 2007 // The University of Connecticut’s basketball teams have a new name for their home stadium: The XL Center. XL Insurance announced this morning it has signed a 6-year agreement for the naming rights to the 16,500-seat...
Gesick Named PartnerRe Chief Actuarial Officer
Dec 17 2007 // Bermuda-based PartnerRe Ltd. announced that Eric Gesick has been appointed as PartnerRe’s Group Chief Actuary. He will be based in Bermuda and report to the Group’s CEO, with “overall responsibility for...
Aon Sells Combined to ACE for $2.4 Billion; Sterling to Munich Re
Dec 17 2007 // Bermuda-based ACE Limited and Germany’s Munich Re have both signed deals with Aon to purchase part of the international broker’s insurance activities. ACE is buying accident and health provider Combined...
Munich Re to Acquire Aon’s Healthcare Insurer Sterling for $352 Million
Dec 17 2007 // Munich Re is also buying a slightly smaller piece of Aon (See previous article). The world’s second largest reinsurer announced that it has concluded an agreement with Aon to acquire 100 percent of Sterling Life...
S.H. Smith Acquires Firm and Opens Philadelphia Office
Dec 17 2007 // Philadelphia, PA – December 17, 2007 – S. H Smith & Co., Inc., a national, independently owned wholesale insurance broker, managing general agency and program administrator, has acquired SecureRisk...
Gallagher Acquires 38.5% Stake in Jamaica’s CGM Group
Dec 17 2007 // Arthur J. Gallagher & Co. announced that it has acquired a 38.5 percent equity interest in CGM Group Limited, headquartered in Kingston, Jamaica. Terms of the transaction were not disclosed. CGM, which started in...
Japan’s Millea Group to Buy Lloyd’s Kiln for $898 Million
Dec 14 2007 // The boards of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), the main operating companies of Japan’s Millea Group, and Bermuda-based Kiln Ltd. , a major Lloyd’s insurer, announced that they have...
N.C.-Based BB&T Insurance Services to Acquire Georgia Agency
Dec 13 2007 // BB&T Insurance Services announced plans to expand its metro Atlanta operation with the acquisition of Ott & Co. of Alpharetta, Ga. Founded in 1978, Ott & Company is a full-service employee benefits brokerage...
Maine’s Hyler Agency is Northeast Bank’s 6th Acquisition Within Year
Dec 12 2007 // Maine’s Northeast Bank Insurance Group, Inc., a wholly-owned subsidiary of Lewiston-based Northeast Bank, continues to grow its footprint in Maine, this time in Thomaston, with the purchase of Hyler Agency. The Hyler...
Allied World to Buy Converium’s U.S. Reinsurance Operations
Dec 11 2007 // Bermuda-based Allied World Assurance Company Holdings, Ltd. announced that its U.S. holding company has entered into an agreement to purchase Converium Insurance (North America), Inc., a New Jersey domiciled...
Emerson, Reid & Co. Acquires Benefitport MidAtlantic
Dec 11 2007 // New York-based Emerson, Reid & Co. said it has acquired N.J.-based general agent BenefitPort MidAtlantic for an undisclosed amount. The acquisition of BenefitPort, which distributes group products to small and large...
ERGO Acquires 65% Stake in Korea’s Daum Direct Auto
Dec 10 2007 // German insurer ERGO, Munich Re’s primary insurance subsidiary, announced that it has reached an agreement with Daum Communications and LIG Insurance to purchase a 65 percent stake in the South Korean monoline insurer...
Gates Foundation Partners with Labor Organization for Microinsurance
Dec 10 2007 // The Geneva-based International Labor Organization has announced a partnership with the Bill & Melinda Gates Foundation that aims to develop new kinds of insurance and improve existing products to promote decent work...
AmTrust Agrees to Acquire Unitrin’s Business Insurance Unit
Dec 10 2007 // Unitrin, Inc. reports it has worked out an agreement to sell its Unitrin Business Insurance unit to AmTrust Financial Services, Inc. in a cash transaction. Terms were not disclosed. Unitrin had previously announced in...
Edgewood Partners Appoints Johnson Senior VP
Dec 10 2007 // San Mateo, Calif.-based Edgewood Partners Insurance Center has hired Jim Johnson as senior vice president. He will be responsible for new business production, renewal business retention, co-managing of Carrier Relations,...
