Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Partners Continue to Come and Go, But It’s a Great Time to Jump in the Game
Dec 6 2004 // Partners Continue to Come and Go, But It’s a Great Time to Jump in the Game Program business over the past 10-15 years has been a rocky road for the insurance industry. Companies are in the game today, but gone...
OTHER STATES COULD RECONSIDER ANTHEM MERGER:
Dec 6 2004 // Georgia and West Virginia may reconsider their approval of the Anthem Inc./WellPoint merger, after learning about California’s $265 million concessions package. Seven other states, plus Puerto Rico, may decide to...
Gallagher Acquires Australian Broker FPE
Dec 3 2004 // Arthur J. Gallagher & Co. announced the acquisition of FPE Insurance Brokers Pty Ltd. of Sydney, Australia. The terms of the transaction were not disclosed. “First organized in 1993, FPE Insurance Brokers Pty...
ChoicePoint Acquires Priority Data Systems
Dec 3 2004 // ChoicePoint (NYSE: CPS), Alpharetta, Ga.-based provider of identification and credential verification services, has acquired Priority Data Systems, based of Omaha, Neb., a provider of comparative rating software solutions...
Aon Sells 9.8 Million Shares in Endurance
Dec 3 2004 // Bermuda-based Endurance Specialty Holding Ltd. announced that Aon Corporation has sold 9.8 million shares of Endurance common stock in a block sale to Goldman Sachs. The shares were sold under the Company’s Form S-3...
First Charter Corp. Adds Smith & Assoc. Insurance to N.C. Acquisitions
Dec 3 2004 // Smith and Associates Insurance Services Inc. of Charlotte, N.C., an independent property casualty agency that specializes in middle market commercial accounts has been acquired by First Charter Corp. (FCC), a large...
Allstate, Encompass Partner for Agents
Dec 2 2004 // To better serve independent insurance agencies, The Allstate Corp. is integrating its three independent agency brands under its Encompass independent agency organization, forming one combined sales organization dedicated...
Hilb Rogal & Hobbs Completes Acquisition of Vt.-based Smith, Bell & Thompson
Dec 2 2004 // Hilb Rogal & Hobbs Company announced the completion of the previously announced acquisition of the stock of Smith, Bell & Thompson Inc., a Vermont-based managing general underwriter (MGU) with 2003 revenue of...
Sandy Spring Bank to Acquire Md. Agency
Dec 2 2004 // Sandy Spring Bank, a subsidiary of Sandy Spring Bancorp, announced that Sandy Spring Insurance Corporation has reached an agreement to acquire certain assets & liabilities of Wolfe & Reichelt Insurance Agency,...
$126M Ga. Agreement Could Pave Way for Anthem-WellPoint Merger
Nov 30 2004 // Georgia Insurance Commissioner John Oxendine and Anthem Inc. have reached an agreement in which Anthem will pledge $126 million to improve rural health care for the poor in Georgia – in return, Oxendine agreed to...
W. Va. Gov. Reports Flood Funding
Nov 26 2004 // West Virginia Gov. Bob Wise recently announced that the Disaster Recovery Board approved more than $3.8 million to assist West Virginians who have experienced repetitive flooding. “The money distributed through the...
Axa Reported in Serious Talks with Credit Suisse to Acquire Winterthur
Nov 26 2004 // A report from the Financial Times indicates that France’s Axa Group is in serious discussions with Credit Suisse to acquire Winterthur, the banking group’s insurance division. Credit Suisse had dropped hints...
Wellington Completes Acquisition of AXA’s U.S. Surplus and Excess Units; Best Assigns ‘A-‘ Rating
Nov 26 2004 // The U.K.’s Wellington Underwriting plc. announced that it has completed the purchase of AXA Corporate Solutions Excess and Surplus Lines Insurance Company, first announced on June 25, 2004. The bulletin noted that...
BB&T Eyeing Langan Insurance Agency, Its Fourth Kentucky Acquisition
Nov 26 2004 // The Lousville-based Langan Insurance Agency is being acquired by BB&T Insurance Services of Raleigh, N.C. Lagan has 41 employees. According to Wade Reece, BB&T president, Bill Roby Sr., Langan president and Tom...
U.S.I. Holdings Acquires Benefit Partners
Nov 23 2004 // U.S.I. Holdings Corporation (Nasdaq: USIH) of Briarcliff Manor, N.Y. has acquired Nashville, Tenn.-based Benefit Partners of America. The acquisition is expected to contribute approximately $4 million of revenues to USI on...
Pa. Bank Acquires Md.’s Russell Agency
Nov 22 2004 // ACNB Corporation, a bank holding corporation based in Gettysburg, Pa., has agred to acquire the Russell Insurance Group, Inc., a full-service insurance agency in Maryland. Based in Westminster, Md, with a satellite office...
Industry Under Fire: Will Insurance Broker M&As Still Keep Pace’
Nov 22 2004 // Will pending investigations of insurance brokers halt the robust pace of the industry’s mergers and acquisitions (M&A) activity? In mid-October 2004, New York State Attorney General Eliot Spitzer filed a civil...
ANTHEM, WELLPOINT GET MERGER APPROVAL FROM CDI:
Nov 22 2004 // Anthem Inc. and WellPoint Health Networks Inc. announced that John Garamendi, Commissioner of the California Department of Insurance (CDI), has granted his approval for their pending merger. In July of this year, the...
CNA Surety Sells Minority Interest in DeMontfort Group
Nov 16 2004 // Chicago-based CNA Surety Corp. announced that the company tentatively has agreed to sell all of its financial interest in U.K.-based DeMontfort Group Ltd. to HCC Insurance Holdings Inc. The agreement covers CNA...
HCC to Acquire United States Surety
Nov 16 2004 // Houston-based HCC Insurance Holdings Inc. announced it has reached an agreement to acquire United States Surety Company (USSC) for an undisclosed consideration payable in HCC shares. The transaction is subject to signing a...
