Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Parkway Insurance Upgraded After Acquisition by Progressive
Jan 4 2007 // A.M. Best Co. has upgraded the financial strength rating (FSR) to A+ (Superior) from B++ (Good) and the issuer credit rating (ICR) to “aa” from “bbb+” of Parkway Insurance Co. of Bridgewater, N.J....
Insurer Group to Target Windstorm Funding in Texas
Jan 4 2007 // Texas Windstorm Insurance Association (TWIA) funding issues will be the Property Casualty Insurers Association of America’s (PCI) top legislative priority in its Southwestern region, the insurer group announced. The...
BW Insurance Agency Acquires Contractor’s Insurance Services
Jan 4 2007 // Bank of the West’s subsidiary BW Insurance Agency Inc. has acquired Contractor’s Insurance Services Inc., a full-service agency that specializes in providing commercial and personal lines, risk management and...
Steptoe & Johnson LLP Opens Chicago Office, Nine Partners Added
Jan 3 2007 // Steptoe & Johnson LLP has announced it will open a Chicago office in January. Nine partners whose practices focus on commercial, insurance and reinsurance litigation will join Steptoe from Gardner Carton &...
Swett & Crawford Buys N.J. Wholesaler Oxbridge
Jan 3 2007 // Wholesale insurance broker Swett & Crawford has acquired the assets of Oxbridge Insurance Associates, Inc., located in Morristown, New Jersey. The venture marks Swett & Crawford’s first acquisition since...
BB&T Completes AFCO, CAFO Acquisitions
Jan 3 2007 // BB&T Corporation (NYSE:BBT) subsidiary Branch Banking and Trust Company completed its acquisition of insurance premium finance company AFCO Credit Corporation and its Canadian affiliate, CAFO Inc., from Mellon...
Castlewood to Buy Inter-Ocean
Jan 2 2007 // Montgomery, Ala. based Enstar Group and Bermuda’s Castlewood Holdings Limited jointly announced that Castlewood and Oceania Holdings Ltd, a wholly-owned subsidiary of Castlewood, have entered into a definitive...
Pa.’s Sterling Financial Sells 3 Insurance Units
Dec 28 2006 // Sterling Financial Corp. announced the sale of three insurance-related businesses: Corporate Healthcare Strategies, LLC, an employee benefits insurance broker; Professional Services Group, a human resources consulting...
A.M. Best Positive on Commerce Acquisition of N.Y.’s State-Wide
Dec 28 2006 // A.M. Best Co. has placed the financial strength rating (FSR) of A- (Excellent) of State-Wide Insurance Co. of Hempstead, N.Y. under review with positive implications. This action has been taken due to the announced...
White Mountains Re Completes Mutual Service Casualty Acquisition
Dec 26 2006 // White Mountains Re Group, Ltd., announced from its Bermuda headquarters that its wholly-owned subsidiary, Folksamerica Reinsurance Company, has completed its acquisition of Mutual Service Casualty Insurance Company, a...
AXA Completes Winterthur Acquisition
Dec 26 2006 // France’s AXA Group announced that it has successfully completed the acquisition of Winterthur. AXA reached agreement with Credit Suisse to acquire 100 percent of Winterthur, the Swiss bank’s insurance division,...
October, November see 29 M&As; stock prices continue to vary
Dec 25 2006 // Stock Prices: Stock prices have varied year-to-date among brokers. Brown & Brown Inc.’s (NYSE:BRO) stock was down 4.4 percent through Nov. 30, 2006, while Hub International Ltd.’s (NYSE:HBG) stock was up...
October, November see 29 M&As; stock prices continue to vary
Dec 24 2006 // Stock Prices: Stock prices have varied year-to-date among brokers. Brown & Brown Inc.’s (NYSE:BRO) stock was down 4.4 percent through Nov. 30, 2006, while Hub International Ltd.’s (NYSE:HBG) stock was up...
Ill. Arthur J.Gallagher Acquires Mid America Group of Philadelphia
Dec 22 2006 // Itasca, Ill.-based Arthur J. Gallagher & Co. announced the acquisition of Mid America Group, Inc. located in Philadelphia, Penn. Terms of the transaction were not disclosed. Established in 1970 as an employee and...
G&S Acquires Discount Shipping Insurance Agency
Dec 21 2006 // G&S Insurance, Inc., which does business as Discount Shipping Insurance Agency, has acquired Harper Reed Corp. also known as PSI Insurance effective Jan. 1, 2007. Harper Reed has provided an alternate to insuring...
Chicago’s Aon to Acquire Valley Oak Systems
Dec 21 2006 // Aon has announced it has entered into a letter of intent agreement to acquire Valley Oak Systems of San Ramon, Calif. Aon expects to consummate the transaction by January 31, 2007. Valley Oak Systems (VOS) offers claims...
Zurich Buys Rest of Endsleigh Shares
Dec 19 2006 // Zurich Financial Services Group announced the signing of an agreement to purchase all of the remaining shares in the insurance intermediary Endsleigh Limited. Zurich acquired a 45 percent stake in 2002, and said it...
Hub Acquires Vermont-Based Transportation Agency Coburn
Dec 19 2006 // Hub International Limited said it plans to accelerate its penetration of the transportation insurance market by acquiring Vermont-based Coburn Insurance Agency, Inc. The $9 million revenue broker has entered into a letter...
S&P Foresees More Europe M&A’s; Teleconference Today-Details
Dec 15 2006 // A new report from Standard & Poor’s Equity Research – European Investment Outlook – Riding A Wave Of Volatility – foresees the volume of mergers and acquisition in Europe exceeding the €1.3...
Commerce, AAA in Mass. Extend Sales Partnership with 20-Year Pact
Dec 14 2006 // The Commerce Insurance Co. has entered into a long-term marketing agreement with AAA Southern New England that extends the two organizations’ business partnership in selling to auto insurance in Massachusetts to a...
