Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Banknorth to Buy Drake, Swan & Crocker in Mass.
Jun 21 2004 // Portland, Me.-based Banknorth Group has signed a letter of intent to acquire Drake, Swan & Crocker Insurance Agency, Inc. of Orleans, Mass. The company expects to finalize the acquisition by July 1. Drake, Swan &...
PA. SELLS RELIANCE PROPERTIES:
Jun 21 2004 // Three years after taking over Reliance Insurance Co., the Pennsylvania Insurance Department is attempting to raise cash by selling properties of the failed company. Reliance Insurance faces a $3 billion shortfall between...
S&P Conference Survey Predicts More Mergers; Confidence in Pres. Bush; Increased Price Competition
Jun 17 2004 // A Standard & Poor’s survey found that two-thirds of insurance executives and analysts believe the recent mergers of St. Pauls/ Travelers and John Hancock/ Manulife indicate heightened industry consolidation...
nuServe Partners with ACORD
Jun 17 2004 // nuServe, a privately-held risk-management tools provider, has joined ACORD, the insurance industry’s global standards association, announced nuServe CEO Kai Tamara Hare. nuServe’s risk management products are...
Acordia Inc. Acquires Speare & Company
Jun 14 2004 // Acordia Inc., America’s fifth largest insurance brokerage and a subsidiary of Wells Fargo & Company, acquired Speare & Company, one of the largest privately held insurance brokerages in the western United...
Wellington to Acquire AXA’s U.S. Specialty Lines
Jun 9 2004 // London-based Wellington Underwriting plc, a major Lloyd’s underwriter, has announced plans for expansion into U.S. Specialty business through the proposed acquisition of AXA Corporate Solutions Excess and Surplus...
Coface Acquires SCOR’s Stake in Unistrat Insurance; To Start Russian Rating Service
Jun 9 2004 // Coface, the French export finance insurer, announced that it has purchased the 50 percent interest of French reinsurer SCOR in Unistrat Insurance, making it the sole owner of the company, which will be renamed Unistrat...
PIA, GE AWS Marketing Partnership Pact for Agents
Jun 3 2004 // The National Association of Professional Insurance Agents announced a new marketing partnership, effective immediately, with GE Auto Warranty Services (GE AWS). The exclusive, long-term national agreement, will enable...
Hartville Signs Agreement to Acquire Insurance Company
Jun 1 2004 // North Canton, Ohio-based pet insurer Hartville Group Inc. announced that the company has finalized the definitive purchase agreement to acquire a property/casualty insurance company. The purchase of the insurance company...
Akzo’s Nobilas to Acquire Aon’s UK Auto Repair Unit
Jun 1 2004 // The Netherlands’ Akzo Nobel announced that its Nobilas Claims & Fleet solutions business has agreed to acquire the UK-based Aon Motor Accident Management company (AMAM), which it described as “the number...
Berkshire to Acquire 16% Stake in White Mountains
May 27 2004 // Berkshire Hathaway Inc., the investment holding company headed by Warren Buffett, has agreed to exercise all of its warrants to purchase common shares of Bermuda-based White Mountains Insurance Group Ltd., giving it a 16...
MJM Investigations Notes Partnership in Australia
May 25 2004 // North Carolina-based MJM Investigations, an international private investigation firm providing innovative investigative solutions to the insurance industry, announced a new strategic partnership with Milne and Associates,...
Insurance Center of New England Acquires DeMarey
May 21 2004 // The principals of Insurance Center of New England, Inc., West Springfield, Mass. has announced the merging of operations of the DeMarey Insurance Agency of Wilbraham with Insurance Center of New England, Inc. This...
Fallout from MMC’s Kroll Acquisition
May 20 2004 // Major acquisition announcements inevitably trigger a lot of fallout – very like the effect of throwing a large rock into a still pond. The ripples spread out over the pond’s surface. MMC’s announcement...
MONY Shareholders Approve $1.5 Billion AXA Merger
May 19 2004 // Shareholders of the MONY Group have voted to approve the sale to France’s AXA Group for $1.5 billion. Under the terms of the deal, AXA Financial, AXA’s U.S. financial services unit, will acquire 100 percent of...
MMC to Buy Kroll for $1.9 Billion
May 19 2004 // Marsh & McLennan Companies, Inc. (MMC) and Kroll Inc. have announced that MMC will acquire Kroll, the world’s leading risk mitigation services firm, in a move that will “broaden significantly the range of...
U.S.I. Holdings Corp. Teams with Boston Celtics as Official Risk Management Partner
May 18 2004 // U.S.I. Holdings Corp. announced a multi-year partnership naming USI the official risk management partner of the Boston Celtics. Under this agreement, USI will exclusively provide the Celtics with all risk management...
Alliant Resources Group Acquires Gaddy Ward
May 17 2004 // Alliant Resources Group Inc., one of the largest U.S. insurance brokerage and financial services distribution companies, announced the acquisition of California-based Gaddy Ward & Company Insurance Brokers. Gaddy Ward...
Gallagher Acquires Specialty Advisory Services
May 14 2004 // Itasca, Ill.-based Arthur J. Gallagher & Co. announced the acquisition of Specialty Advisory Services, Inc. of Morristown, N.J. Terms of the transaction were not disclosed. Incorporated in January 2000, Specialty...
Wachovia Open to More Insurance Acquisitions
May 13 2004 // Wachovia Corp. is looking to make more acquisitions in the insurance brokerage business, but don’t expect any immediate mergers, chairman and chief executive officer Ken Thompson said. Speaking at the UBS Global...
