Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
JP Morgan Chase To Buy 22% Stake in Italy’s Fondiaria
Feb 4 2002 // U.S. investment bank JP Morgan Chase will enter the convoluted world of Italian finance with its agreement to acquire a 22 percent interest in Italian insurer Fondiaria along with two other investors for € 812 million...
S&P Equalizes Ratings on EULER Group, Hermes, as Merger Nears Completion
Feb 1 2002 // Standard & Poor’s took steps to equalize the ratings of French-based credit insurance group EULER and Germany’s Hermes Kreditversicherungs-AG (Hermes) following their announcement that they were close to...
Tokio Marine Cancels Asahi Merger Plan
Feb 1 2002 // Japan’s largest insurer, Tokio Marine & Fire Insurance Co. Ltd., has dropped plans to to merge its life insurance units with the country’s 6th largest life insurer, Asahi Mutual Life Insurance. Asahi, like...
Sky Financial Group to Acquire Celaris Group
Jan 31 2002 // Sky Financial Group Inc. of Bowling Green, Ohio, has announced it will acquire the Celaris Group, Inc., a full-service insurance agency specializing in commercial and personal insurance services, financial services and...
Direct Line to Acquire RSA’s Italian Auto Business
Jan 30 2002 // U.K. auto insurer Direct Line, a subsidiary of the Royal Bank of Scotland, has agreed to acquire the Italian auto insurance operations of Royal & Sun Alliance for £12 million ($17 million). Direct Line, which takes...
GMAC Completes Acquisition of Mexico’s ABA Seguros
Jan 23 2002 // GMAC Insurance Holdings, Inc., the Insurance division of General Motors Acceptance Corp., announced that it has completed the acquisition of ABA Seguros, S.A., one of Mexico’s largest property/casualty and auto...
AEGON Sells Banamex Stakes to Citigroup
Jan 21 2002 // The Netherlands AEGON N.V. has agreed to sell its minority partnership interests in two Mexican companies to Citigroup’s Mexican subsidiary Grupo Financiero Banamex for $1.24 billion. The sale of its stakes in life...
Ianet, Scene Genesis Form Partnership
Jan 21 2002 // IAnet, the nationwide network of independent adjusters, appraisers, and insurance claims professionals, is bringing property & casualty (P&C) insurance companies electronic access to its 1,500-member network as...
XL Completes Le Mans Re Deal; Buys Stake in Stanfield Capital
Jan 15 2002 // Bermuda’s XL Capital Ltd announced that it has completed the acquisition of a 67% majority shareholding in Le Mans Re from Mutuelles du Mans Assurances (MMA), and, in an unrelated transaction, has acquired a minority...
NetStudy Partners with PTS Professional Training Services
Jan 10 2002 // Online insurance certification provider, NetStudy, based in Northbrook, Ill., announced a partnership with Professional Training Services Inc. (PTS), a local company with a specialty in professional designations for the...
Capitol Transamerica Acquired by Alleghany
Jan 9 2002 // Alleghany Corporation acquired insurance holding company Capitol Transamerica Corporation of Madison, Wis., in a transaction that gives holders of Capitol Transamerica common stock $16.50 in cash for each outstanding share...
Cal-Surance Acquires Gail H. Murrell Insurance Agency
Jan 9 2002 // Cal-Surance Associates Inc. a national insurance sales, service and support organization comprising many diverse and specialized programs, has acquired the Gail H. Murrell Insurance Agency. Cal-Surance focuses on...
SCSI, Vitria Partner to Deliver Enterprise Automation Solution for P/C Industry
Jan 8 2002 // SCSI, a producer of real-time information systems for data access and management, and Vitria, a collaboration platform and collaborative applications provider, announced a partnership to serve the property and casualty...
Vista Insurance Partners Rolls out National Transportation Division
Jan 7 2002 // Wholesale insurance broker Vista Insurance Partners has launched a new division designed to meet the needs of the transportation and commercial automobile industries. With a special expertise in long haul and intermediate...
Brown and Brown Acquires NY’s Sestito Agency
Jan 4 2002 // The New York subsidiary of national insurance intermediary Brown & Brown announced that it has acquired the business of Virgil N. Sestito, a sole proprietor doing business as Sestito Insurance Agency, of Rome, New...
The St. Paul Cos to Acquire Renewal Rights for Fireman’s Fund Surety Bond Business
Dec 28 2001 // The St. Paul Companies, a Saint Paul, Minn.-based commercial insurer, announced and agreement to acquire the renewal rights for Fireman’s Fund Insurance Company’s surety bond business. Fireman’s Fund...
Sales and Acquisitions in French Insurance Market
Dec 27 2001 // A flurry of year end transactions is changing the face of the French insurance market. The MMA-MAAF Group has reportedly agreed to acquire the French units of Swiss based Winterthur Group. CGU Courtage, the commercial...
Nekema, InsurePoint.com Finalize Merger
Dec 24 2001 // New Jersey-based Nekema Inc. and Ohio-based Insure-Point.com Inc. finished up plans to merge before the end of the year. Company officials recently announced that the newly combined company will operate under the Nekema...
Arthur J. Gallagher and Co. Makes Acquisitions
Dec 21 2001 // Illinois-based Arthur J. Gallagher & Co. announced the acquisition of Equity Insurance Managers, Inc., Equity Insurance Administrators, Inc. and 21st Century Claims Service, Inc. all of Lexington, Kentucky. Founded in...
Greater Bay Bancorp, ABD Announce Merger Agreement
Dec 20 2001 // Greater Bay Bancorp, a $7.5 billion in assets financial services holding company, and ABD Insurance and Financial Services Inc., announced today the signing of a definitive agreement for the acquisition of ABD by Greater...
