Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Matrix Absence Management INC. announces strategic partnership with TechHealth, Inc.
Nov 14 2005 // San Jose, CA – Matrix Absence Management Inc., one of the nation’s leading integrated claims services firms, today announced a strategic alliance with TechHealth, a nationwide specialty network for ancillary...
PXRE Acquires $300 Million Cat Bond Backup Reinsurance
Nov 10 2005 // It may be a case of locking the barn door after the horse has gone (see following article), but Bermuda-based PXRE has taken a significant step to protect itself “from extreme catastrophe losses arising from...
HCC to Acquire Perico
Nov 10 2005 // HCC Insurance Holdings Inc., headquartered in Houston, Texas, announced it has reached an agreement to acquire Missouri-based Perico Ltd. for an undisclosed consideration consisting of cash and HCC shares. The transaction...
Talanx in Talks to Acquire Gerling’s Primary Operations; S&P, Best Place Ratings Under Review
Nov 9 2005 // Germany’s Talanx AG, which among other interests holds a 51 percent stake in Hannover Re (and consequently Clarendon in the U.S.), is currently in “advanced talks” to acquire the Gerling Group’s...
N.Y.’s Adirondack Bank Buys Clients First Agency of Ballston Lake
Nov 9 2005 // Adirondack Trust Co. in Saratoga Springs, N.Y. has acquired Clients First Insurance Agency Inc. of Ballston Lake. This bank has now owns three agencies, having previously acquired Wise Financial Services of Saratoga...
Hendricks Holding Buys Gateway Insurance of St. Louis
Nov 8 2005 // Hendricks Holding Company, Inc., has entered into an agreement to buy the stock of the holding company which owns Gateway Insurance Company in St. Louis, Mo. Gateway Insurance Company, which provides non-standard private...
Mercury Insurance Group Partners with Employees, Helps Hurricane Victims
Nov 3 2005 // California-based Mercury Insurance Group has donated $110,000 to the Red Cross Hurricane Relief Fund, it was announced by the company’s President and Chief Operating Officer, Gabriel Tirador. Matching its...
Brown & Brown Acquires Timothy R. Downey Insurance
Nov 1 2005 // The acquisition of Timothy R. Downey Insurance Inc., dba. Downey Insurance of Kokomo, Ind. has been jointly announced by Jim W. Henderson, Brown & Brown Inc. president and CEO and Timothy R. Downey, Downey Insurance...
Best Affirms PartnerRe S.A. Ratings
Oct 28 2005 // Along with affirming the parent company’s ratings (See previous article), A.M. Best Co. announced that it has affirmed the financial strength rating of “A+†(Superior) and the issuer credit rating of...
Best Affirms PartnerRe Ratings; Removes From Under Review
Oct 28 2005 // A.M. Best Co. joined S&P and Fitch (See IJ Website Oct. 26 and 27) in affirming the financial strength rating (FSR) of “A+†(Superior) and issuer credit rating (ICR) of “aa-” of the reinsurance...
S&P Affirms PartnerRe ‘A’ Ratings
Oct 27 2005 // Standard & Poor’s Ratings Services announced that it has affirmed its “A” counterparty credit rating on Bermuda-based reinsurer PartnerRe Ltd. (PRE). S&P also affirmed its “AA-”...
Berkshire Bank Acquires 2 Western Mass. Agencies
Oct 27 2005 // Berkshire Insurance Group, Inc., a wholly-owned subsidiary of Berkshire Hills Bancorp, Inc. in Pittsfield, Mass., has acquired the business and assets of each of MacDonald & Johnson, Inc., a full-service property and...
PartnerRe Estimates Wilma Claims
Oct 26 2005 // Bermuda’s PartnerRe Ltd. has given the first estimations of its expected claims relating to Hurricane Wilma, following the hurricane’s passage through Mexico and south Florida over the last week. The estimates...
Fitch Affirms PartnerRe’s Ratings
Oct 26 2005 // Fitch Ratings announced that it has affirmed the “AA” Insurer Financial Strength rating of Partner Reinsurance Company. Fitch also affirmed the various ratings of Partner Reinsurance’s parent company...
HCC Holdings Buys Lloyd’s Syndicate Manager Illium
Oct 24 2005 // Houston-based HCC Insurance Holdings, Inc. is purchasing the remaining 80 percent that it does not already own in U.K.- based holding company, Illium Insurance Group Ltd. Illium, which commenced operations in 2004, is the...
NSM Insurance of Pa. Acquires Reich Coastal Condo/Hotel Program
Oct 19 2005 // NSM Insurance Group of Conshohocken, Pa. is buying the coastal condominium, hotel and motel insurance program of Reich Insurance Associates, announced Geof McKernan, chief executive officer of NSM. CHAMP, as the program is...
Markel American Partners with BMW MOA on Endorsed Insurance Program
Oct 17 2005 // Markel American Insurance Company (rated “A (Excellent), XII” by A.M. Best) has teamed up with BMW Motorcycle Owner’s of America to create The BMW MOA Endorsed Insurance Program. This program provides BMW...
OSHA, HOME BUILDERS ASSOCIATION SIGN HOME SAFE PARTNERSHIP
Oct 17 2005 // A partnership between the Occupational Safety and Health Administration (OSHA) and the Home Builders Association (HBA) of Metro Denver will reportedly identify and abate home construction site hazards and prevent hazards...
R&SA Acquires Chile’s Cruz del Sur
Oct 14 2005 // Royal & Sun Alliance Insurance Group PLC announced the acquisition of Chile’s leading general insurance business Compañia de Seguros Generales Cruz del Sur S.A. and its Argentinean sister company La...
Aon (U.K.) Launches M&A Warranty Replacement Coverage
Oct 13 2005 // Aon Limited, the international broker’s U.K.-based subsidiary, has unveiled an innovative insurance product called Warranty Replacement and Acquisition Protection (WRAP). Aon said the new coverage is designed to...
