Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
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...
Esurance Partners With Provident Credit Union
May 21 2002 // California-based Esurance Inc., a direct-to-consumer personal auto insurance company, and Provident Credit Union recently announced a partnership to provide Provident’s members with online access to personal...
SAI, La Fondiaria Merger Moves Closer, Full Bid Not Necessary
May 20 2002 // Italian insurer SAI’s year-long battle to merge with La Fondiaria may be moving towards a successful conclusion, as Consob, the Italian stock market regulator, ruled that the 29 percent stake controlled by J.P....
Endurance to Acquire La Salle Re fromTrenwick
May 17 2002 // Endurance Specialty Insurance Ltd., the Bermuda-based p/c insurer established by Aon, Zurich Financial Services and other investors, has reached a definitive agreement to acquire the property catastrophe reinsurance...
Ohio’s Westfield Group Expands MarshBerry Partnership
May 16 2002 // Westfield Group of Westfield, Ohio, is offering its agencies a subsidized subscription to MarshBerry.com in order to help improve performance, measure agency value and develop an all-around growth plan. Westfield Group,...
PMI, PCI Announce Merger
May 10 2002 // Program Managers, Inc. (PMI) and Preferred Concepts, Inc. (PCI), managers of two high limit umbrella programs, have merged. The collective membership base of the Property Managers Risk Purchasing Group (PMRPG) and the...
Berkshire Hathaway Plans to Buy Portion of Kemper Business
May 9 2002 // Berkshire Hathaway Inc. plans to buy a portion of Kemper Insurance Companies’ business. Berkshire will buy an undisclosed equity stake in the commercial casualty and specialty insurance business of privately held...
PartnerRe Reports Premium Increases, But Q1 Net Falls 34%
May 7 2002 // Bermuda-based PartnerRe Ltd. reported record operating results for the 2002 first quarter of $66.8 million, or $1.29 per share on a fully diluted basis compared to $55.6 million, or $1.08 per share, for the first quarter...
ING Restructures U.S. Asset Management Operations; Announces Joint Venture with ANZ
May 3 2002 // Holland’s ING Group announced that it is combining parts of its U.S. asset management businesses, including the ING Aeltus Group, into ING Investment Management (IIM), its global asset management group, and is...
Royal Sun Sells U.K. Asset Management Business
May 1 2002 // The U.K.’s Royal & Sun Alliance finally achieved at least one of its goals with the announcement that it has agreed to sell its asset management business to Friends Ivory & Sime, a financial group that is...
