Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Hub International Sells Over-Allotment Shares To Underwriters
Jul 2 2002 // Chicago and Toronto-based insurance brokerage, Hub International Limited, announced that J.P. Morgan Securities Inc., on behalf of the underwriters of the previously announced public offering of 6,000,000 common shares in...
Yasuda/Nissan Merger Creates Japan’s 2nd Largest P/C Insurer
Jul 1 2002 // Yasuda Fire & Marine Insurance Co. and Nissan Fire & Marine Insurance Co. have completed their merger, creating Sompo Japan Insurance Inc.the country’s second largest p/c insurer after Millea Holdings Inc.,...
First Federal Buys Exchange Underwriters
Jun 28 2002 // First Federal Savings Bank, in Monessen, PA, recently purchased a majority ownership in Exchange Underwriters, Inc., an insurance agency in Canonsburg, a suburb of Pittsburgh. The financial terms of the acquisition were...
CRC to Acquire American Marketing Center
Jun 20 2002 // Alabama-based CRC Insurance Services Inc. announced plans to buy New York City-based American Marketing Center (AMC). AMC will operate as a division of CRC. BB&T acquired CRC on Jan. 1. “This is about expanding...
Deutsche Bank Sells Remaining Stake in Munich Re
Jun 19 2002 // Germany’s Deutsche Bank (DB) placed its remaining 7.6 million shares in Munich Re for sale on the Frankfurt Stock Exchange Tuesday at € 213-215 ($201 -$203) slightly higher than anticipated. The sale is expected...
Ind. Farm Bureau Insurance Cos. Acquires Agway Insurance Co.
Jun 17 2002 // Indiana Farm Bureau Insurance Companies has reached a definitive agreement with Agway Inc. to acquire 100 percent of the stock of New York-based Agway Insurance Company, in a deal valued at $21 million. The transaction is...
U.S. Risk Insurance Group Acquires Business Assets of Ore. Company
Jun 12 2002 // U.S. Risk Insurance Group has acquired the business assets of J.G. Newman Co. in Portland, Ore. The agency will continue doing business as J.G. Newman Co. with an additional emphasis on expanding its underwriting and...
ACE, Freisenbruch-Meyer in Partnership to Serve Bermuda Market
Jun 11 2002 // Bermuda’s ACE Group is usually thought of as the personification of an international company, but it isn’t neglecting its local market either. ACE recently announced the establishment of a new local insurance...
AXA To Acquire BNP’s Banque Directe
Jun 7 2002 // French insurer AXA and BNP Paribas, the country’s second largest bank, announced that they have concluded an “an agreement in principle” for the sale of BNP’s on-line banking subsidiary Banque...
ING Sells Remaining 2.7% Stake in Fortis for $760 Million
Jun 6 2002 // Holland’s ING Group announced that it has sold 35.5 million shares, its remaining 2.7 percent stake, in the Dutch-Belgian Fortis financial group at € 2.75 ($21.385) per share generating gross proceeds of €...
PartnerRe to Open Office in Chile
Jun 6 2002 // Bermuda-based PartnerRe has announced that it plans to “strengthen its market position in Latin America” with the opening of a new office, to be located in Santiago, Chile. “The new office will manage the...
Americana Financial Services Announces Mergers
Jun 4 2002 // Americana Financial Services Inc., a wholesale insurance distribution holding company, announced mergers with California-based companies MTS Insurance Services and Specialty Programs & Facilities Managers, and New...
SAFECO, Answer Financial to Partner
May 30 2002 // Seattle-based SAFECO will provide automobile, home and other property and casualty policies through the Internet and call center platforms of Answer Financial Inc. and its subsidiary, Insurance Answer Center Inc. SAFECO...
La Fondiaria Shareholders Set to Approve Merger with SAI
May 30 2002 // The general annual meeting of the shareholders of Italian insurer La Fondiaria, postponed from May 9, is scheduled to take place today and Italian regulators appear to have cleared the way for the approval of Italian...
Securian Financial, Esurance to Partner
May 29 2002 // St. Paul, Minn.-based Securian Financial Network Inc., a subsidiary of the Minnesota Mutual Companies Inc., announced a partnership with Esurance Inc. to provide Securian’s financial clients with online access to...
ACE to Buy 22% Stake in Chinese P/C Insurer for $150 Million
May 29 2002 // Bermuda’s ACE Ltd. announced that it has entered into a strategic business partnership with Huatai Insurance Company, China’s fourth largest property/casualty insurer, and “will acquire 22% of...
A New Partner
May 27 2002 // Those rope-burned hands on this week’s cover graphically depict the dire straits of the workers’ compensation market in California. Safe to say, it’s now in full-blown crisis, as overused and overblown as...
Arrowhead Financial Group Acquires Top Inland Empire Agency
May 24 2002 // California-based Arrowhead Financial Group has acquired Sawyer, Cook & Co., one of the largest insurance agencies in the Inland Empire with a history stretching back nearly 80 years. The acquisition of the...
Arthur J. Gallagher Acquires Cornwall and Stevens
May 23 2002 // Illinois-based Arthur J. Gallagher & Co. has acquired Cornwall & Stevens Co. Inc., a property/casualty company with hub operations in Memphis, Tenn.; Atlanta, Ga.; and New York, N. Y. Established in 1898,...
Hartford Partners with IVANS, HNC, and Access CoverageCorp
May 22 2002 // The Hartford Financial Services Group announced a series of new initiatives that enable agents to do business with the insurer using processes that meet their agency’s specific needs. The initiatives involve...
