Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
BB&T to Acquire Fla. Premium Finance Co.
Dec 5 2002 // BB&T Corporation of Winston-Salem, N.C. announced plans to buy insurance premium finance company Southeastern Fidelity Corporation (SEFCO) of Tallahassee, Fla., in a stock swap. Terms were not disclosed. BB&T...
GAINSCO Sells GAINSCO County Mutual
Dec 3 2002 // GAINSCO INC., based in Dallas, announced the completion of the previously announced sale and transfer of its management contract controlling GAINSCO County Mutual Insurance Company (GCM) to an affiliate of Liberty Mutual...
Consob to Rule on SAI-La Fondiaria Merger by End of this Month
Dec 3 2002 // Consob, the Commission charged with regulating Italy’s stock markets, has indicated that it will rule on the validity of the merger between SAI and La Fondiaria before the end of this month. Its decision may bring an...
ISO Acquires IntelliCorp
Dec 2 2002 // Insurance Services Office, Inc. (ISO) has acquired IntelliCorp, Ltd., a nationwide provider of criminal records, motor vehicle reports and other public documents. With a database of over 70 million criminal records...
AMS Services Acquires Texas-Based IRS-AIMS
Dec 2 2002 // AMS Services, Inc. has acquired Universal City, Texas based IRS-AIMS, a Texas rating and management system vendor. Users of IRS-AIMS’ rating and management systems will continue using these products and AMS will...
Liberty Mutual Group Acquires Winterthur Portuguese Units
Nov 27 2002 // Boston-based Liberty Mutual Group announced that its subsidiary, Liberty International, has signed an agreement to acquire Winterthur’s Portuguese business units and branch offices, including its subsidiary companies...
ING Sells 36 Million Shares, Raises $666 Million
Nov 27 2002 // The Netherlands ING Group has sold 36 million shares, about 1.8 percent of the total outstanding, at approximately 18.50 Euros per share, raising around $666 million in additional capital. (The dollar and the Euro are...
PartnerRe Registers to Sell $386 Million in Mixed Securities
Nov 27 2002 // Bermuda-based PartnerRe Ltd. has filed a registration statement with the Securities and Exchange Commission to sell an additional $386 million worth of mixed securities. Together with the $214 million worth of securities...
Harleysville Mutual to Acquire Penn Mutual
Nov 26 2002 // Harleysville Mutual Insurance Company, which owns 56 percent of Harleysville, Pa.-based Harleysville Group Inc., announced an agreement to acquire the operations of Penn Mutual Insurance Company. “The in-market...
Hull & Co. Acquires Gray-Stone’s Stockton, Calif. Office
Nov 26 2002 // Richard Hull, chairman and CEO of Hull & Company Inc., and Howard Stone, president of Gray-Stone & Company, recently announced the sale of Gray-Stone’s Stockton, Calif. office to Hull &...
INMG.OB Cancels Self-Tender Offer, Merger Agreement
Nov 25 2002 // Insurance Management Solutions Group Inc. of St. Petersburg, Fla. (INMG.OB), which provides business process outsourcing solutions to insurance companies and financial institutions, announced today that its Board of...
BNP Buys French Gov’t. Share of Credit Lyonnais for $2.2 Billion
Nov 25 2002 // France’s second largest bank, BNP Paribas, emerged as the winner of a surprise auction by the French government for its 10.9 percent share in Credit Lyonnais (CL), France’s fifth largest bank. Following a...
AXIS to Buy Aon’s Specialty Underwriting Unit
Nov 25 2002 // Following recently-announced plans to exit its specialty insurance underwriting operations, Aon Corporation of Chicago entered an agreement in principle to sell its specialty property and casualty insurance subsidiary,...
Sullivan & Curtis Becomes Partner/Owner of RiskProNet Intl.
Nov 21 2002 // Seattle-based Sullivan & Curtis has become a partner/owner of RiskProNet International Inc., a network of 27 insurance brokers throughout the United States and Canada. Sullivan & Curtis was formed in 1993 by...
Universal Insurance Holdings Lukewarm to Golden Apple’s Proposed Acquisition
Nov 21 2002 // Universal Insurance Holdings Inc. of Miami received correspondence regarding a proposed takeover by Golden Apple Holding Company, a subsidiary of Navigator Ventures Inc. (OTCBB:NVGV), that reportedly seeks to acquire all...
Gallagher Acquires Iowa’s Grandy Pratt Co.
Nov 19 2002 // Arthur J. Gallagher & Co. announced that it has acquired the Grandy Pratt Company, headquartered in Sioux City, Iowa, and their affiliate Grandy Pratt McCoy, Rosenberg and Associates of Des Moines, Iowa. Terms of the...
Golden Apple May Acquire Universal
Nov 19 2002 // Florida-based Golden Apple Holding Company, a wholly owned subsidiary of Navigator Ventures Inc., offered to enter into a ninety day period of exclusive discussion with the Board of Directors of Universal Insurance...
Seibels Bruce Sells Flood Business to The Hartford
Nov 19 2002 // The Seibels Bruce Group Inc. of Columbia, S.C. completed a transaction with The Hartford Financial Services Group Inc., under which The Hartford acquired the right to renew or assume all of Seibels Bruce’s in-force...
CGI to Acquire INSpire’s Key Assets
Nov 15 2002 // CGI Group Inc. (CGI) announced it will acquired certain assets of Fort Worth-based INSpire Insurance Solutions Inc. (INSpire) for US$5.4 million (CDN$8.5 million) in cash. INSpire has revenues of US$26 million (CDN $41...
Axis Specialty to Buy Aon’s P/C Underwriting Unit
Nov 15 2002 // Aon has agreed to sell its Sheffield Insurance Corporation, a specialty property and casualty insurance subsidiary, to Bermuda’s Axis Specialty Limited for an undisclosed price, subject to regulatory approval. Aon...
