Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
ZFS Sells U.K. Fund Manager – Capital Goals Achieved
Jun 16 2003 // Zurich Financial Services took another step towards restoring its battered capital position to robust health with the announcement that it has agreed to sell Threadneedle, its U.K. find management subsidiary, to American...
Community Banks Completes Acquisition of Shultz Insurance Agency
Jun 16 2003 // Pennsylvania-based Community Banks, Inc. (CBI) announced that it has completed its acquisition of Shultz Insurance Agency, Inc. of Hanover. Terms of the acquisition were not disclosed. “The Shultz Insurance Agency,...
State Auto Shareholder Raises Takeover Bid
Jun 16 2003 // State Auto Financial Corp.’s largest individual shareholder boosted his takeover offer for the property and casualty insurer to about $316 million, but the firm’s majority owner gave the offer a frosty...
Royal Bank of Scotland Buys Churchill from CSG’s Winterthur
Jun 12 2003 // The Royal Bank of Scotland (RBS) and Winterthur, the insurance arm of the Credit Suisse Group (CSG), have concluded a deal for RBS to acquire Churchill Insurance, CSG’s principle U.K. general insurance division, for...
Royal & SunAlliance Sells RSUI to Alleghany
Jun 10 2003 // Royal & SunAlliance USA announced the sale of Royal Specialty Underwriting Inc. (RSUI), its Atlanta-based excess and surplus lines business, to Alleghany Insurance Holdings LLC, a subsidiary of Alleghany Corp., for...
Trafalgar Marine Notes Acquisition of INAMAR’s Wholesaling Business
Jun 9 2003 // Trafalgar Marine Insurance Services, Inc. recently purchased INAMAR Recreational Marine Insurance’s company-owned wholesale recreational marine insurance business, INAMAR Marine Marketing Specialists. Trafalgar...
Kevin M. Twomey Appointed to PartnerRe’s Board of Directors
Jun 9 2003 // Bermuda-based PartnerRe Ltd. announced that Kevin M. Twomey has been appointed to its Board of Directors. Twomey, 56, is the President and CEO of the St. Joe Company, a real estate operating company engaged in residential,...
BB&T to Acquire Tennessee Agency
Jun 6 2003 // North Carolina-based BB&T Insurance Services announced plans to buy STHARCO Inc., parent company of Kingsport Development Company (KDC) Insurance Inc. of Kingsport, Tenn. The acquisition would give the insurance...
Ri3k Sells Run Off Centre
Jun 5 2003 // London-based ri3k, a leading provider of secure infrastructure for the global reinsurance industry, announced the sale of its Run Off Centre to legal/actuarial consultants James, Brennan & Associates. “The deal,...
Community First Acquires Wyoming Insurance Agency
Jun 4 2003 // An affiliate of Fargo, N.D.-based Community First Bankshares Inc. has acquired Larry Levitt Insurance Inc., located in Rock Springs, Wyo. It is the 15th insurance agency purchase since 2000, according to a statement...
U.S.I. Holdings Closes Acquisition of Hastings-Tapley
Jun 3 2003 // San Francisco-based U.S.I. Holdings Corporation announced that it has consummated the previously announced acquisition of all the issued and outstanding capital stock of Woburn, Mass.-based Hastings-Tapley Insurance Agency...
Brown & Brown Acquires Bartos-Hunsicker
Jun 3 2003 // Florida-based Brown & Brown Inc. announced it has acquired commercial property and casualty insurance agency Bartos-Hunsicker Inc., of Bethlehem, Pa., in a transaction effective June 1, 2003. Bartos-Hunsicker has...
Talbot Acquires Goreham·Moore & Associates
May 29 2003 // San Diego-based Goreham·Moore & Associates insurance brokerage has been acquired by Talbot Insurance & Financial Services. Talbot Insurance & Financial Services is a subsidiary of Talbot Financial...
Fair Isaac, Software AG Partner For XML Integration
May 28 2003 // San Rafael, Calif.-based Fair Isaac Corporation and Software AG Inc. announced a marketing partnership in the area of XML data integration and processing. By working together, the companies make it easier for insurers to...
Penn National Partners with Rackley Systems to Provide Agents Web-delivered Rating; Sponsors Harrisburg Youth Program
May 23 2003 // Leading PA P/C insurer Penn National Insurance announced that it has made a partnership agreement with Rackley Systems, Inc., to bring its agents “a state-of-the-art .NET Web rating tool.” It also announced a...
Liberty Mutual to Acquire Majority of Prudential’s U.S. P/C Business
May 23 2003 // Boston-based Liberty Mutual Group has signed a definitive agreement to acquire Prudential Financial Inc.’s U.S. personal lines property/casualty operations in 47 states, excluding its New Jersey, specialty auto and...
Palisades Group Acquires Prudential’s NJ P/C Company
May 23 2003 // The Palisades Group, based in Berkeley Heights New Jersey, announced that it has agreed to acquire The Prudential Property and Casualty Insurance Company of New Jersey (PRUPAC-NJ), the New Jersey property and casualty unit...
EMC Agencies to WebLink From SIS SEMCI Partner
May 19 2003 // Strategic Insurance Software, Inc. (SIS) announced the certification of Des Moines, Iowa-based EMC Insurance Companies for WebLink with their SEMCI Partner agency management system. According to SIS, WebLink enables...
ING Sells 49% Stake in Seguros Bital to HSBC
May 19 2003 // The Netherlands ING Group announced that it is selling its 49% shareholding in Mexico’s Seguros Bital to Grupo Financiero Bital, S.A., a wholly owned subsidiary of HSBC Holdings, plc. for $148 million. The...
INVESTOR GROUP TO BUY REPUBLIC:
May 19 2003 // The Republic Group of Insurance Companies (Republic), of Dallas, announced that a private investor group has agreed to purchase Republic from Winterthur U.S. Holdings Inc. and certain other subsidiaries of Credit Suisse...
