Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Arthur J. Gallagher Acquires NJ, DC Brokers
Nov 9 2001 // Arthur J. Gallagher has added three new brokers to its recent list of acquisitions, taking control of Cashan & Company of Hammonton, New Jersey; Hartstein Associates, Inc. of Warren, New Jersey, and Washington...
Insuremytrip.com Partners with Travelex
Nov 8 2001 // Insuremytrip.com, an online provider of travel insurance, announced a business partnership with Travelex, an industry leader offering travel insurance protection to travelers. Insuremytrip.com takes visitors through...
PartnerRe, Max Re Report 3Q Losses
Nov 7 2001 // Two Bermuda-based reinsurers, PartnerRe and Max Re, have posted third quarter net losses of $338.5 million and $8.7 million respectively, primarily due to claims related to the attacks of Sept.11. PartnerRe confirmed...
S&P Reaffirms PartnerRe Ratings, Off CreditWatch
Nov 6 2001 // Standard & Poor’s announced that it has removed Bermuda-based PartnerRe from its CreditWatch, and has affirmed the company’s single-‘A’-plus counterparty credit and single-‘A’-minus...
XL Affirms Le Mans Re Acquisition, Plans Capital Increase
Oct 31 2001 // XL Capital Ltd reaffirmed its previously announced plan to acquire a 67 percent controlling interest in France’s Le Mans Re from its partner Les Mutuelles du Mans Assurances Group (MMA), and announced that the two...
HCC Completes Acquisition of Professional Indemnity Agency
Oct 29 2001 // HCC Insurance Holdings announced that it has completed the acquisition of Marshall Rattner, Inc., the parent company of Mt. Kisco, NY-based Professional Indemnity Agency, Inc. The agency focuses on several specialty lines,...
PartnerRe See 3Q Loss, Will Raise $350 Million
Oct 29 2001 // Bermuda’s PartnerRe, which already announced estimated net losses from the Sept.11 attacks of around $400 million, announced additional losses of around $25 million, and said it would report a third quarter operating...
Four Companies Join Trusted Choice Branding Initiative as Founding Partners
Oct 29 2001 // Four leading insurance carriers have signed on as founding sponsors of Trusted Choice, the new consumer marketing brand created by the Independent Insurance Agents of America (IIAA) and independent agency insurance...
Sandy Spring Bank to Acquire Chesapeake Agency
Oct 25 2001 // Sandy Spring Bank, a subsidiary of Sandy Spring Bancorp, Inc., announced that it has reached an agreement to acquire the assets and liabilities of general agency Chesapeake Insurance Group (CIG) of Annapolis Maryland....
NAIC Withdraws Lloyd’s 60% Funding Deal
Oct 25 2001 // On Tuesday The National Association of Insurance Commissioners reversed its previous decision to permit Lloyd’s to deposit 60 percent, rather than 100 percent, of the amount normally required into its U.S....
American Modern, American Express Property Casualty Form Partnership
Oct 11 2001 // American Modern Insurance Group and the American Express Property Casualty companies announced a partnership which adds manufactured home, motor home, travel trailer, and nonstandard specialty homeowner products to...
Midland Company Announces New Partnership
Oct 10 2001 // The Midland Company, an Ohio-based employer, announced that American Modern Insurance Group, its wholly owned specialty insurance subsidiary, formed a partnership with American Express Property Casualty to add manufactured...
S&P Takes Action on PartnerRe and Subs
Oct 8 2001 // Standard & Poor’s affirmed its single-‘A’-plus counterparty credit rating on PartnerRe Ltd. and its double-‘A’ counterparty credit and FSR on Partner Reinsurance Co. Ltd. and PartnerRe...
PartnerRe, Max Re See 3Q, Full Year Losses
Oct 4 2001 // Two Bermuda-based reinsurers, PartnerRe and Max Re, have indicated that they expect to show loss results for both the third quarter and probably the full year, caused for the most part by the direct and indirect effects of...
St. Paul Fire and Marine Sells Unit to London’s
Oct 1 2001 // The St. Paul Companies announced that its wholly owned subsidiary, St. Paul Fire and Marine Insurance Company, has completed the sale of Fidelity and Guaranty Life Insurance Company (F&G Life), a life, annuity and...
Arch Capital Group Ltd. to Acquire Rock River Insurance Company
Sep 27 2001 // Arch Capital Group Ltd. announced that it has entered into a definitive agreement to acquire Rock River Insurance Company, an approved excess and surplus lines insurer in 45 states and the District of Columbia and an...
The Heffernan Group, Area West Insurance Services Inc. Announce Merger
Sep 26 2001 // The Heffernan Group, one of the largest brokerage firms in the country, announced its merger with Area West Insurance Services Inc., a San Rafael, Calif.-based brokerage firm specializing in property owners/managers and...
Process Claims, Explorer Insurance Co. Renew Partnership
Sep 26 2001 // California-based ProcessClaims, the first claims solutions provider to facilitate open architecture claims processing via the Internet, announced that Explorer Insurance Company renewed its partnership agreement with...
Zurich Sells Scudder Financial Unit to
Sep 25 2001 // The Anglo-Swiss group Zurich Financial Services (ZFS) and Germany’s Deutsche Bank (DB) announced agreement on a number of cooperation initiatives and the sale of business assets, most notably the transfer of fund...
SAFECO TO BUY ACE USA DIVISION
Sep 24 2001 // SAFECO Corp. and ACE USA announced an agreement for SAFECO Select Insurance Services Inc. to acquire ACE USA’s Financial Institution Specialists (FIS) division. The acquisition of FIS’ $80-million book of...
