Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Nekema, NetRate Systems Announce Partnership
Mar 13 2002 // Nekema Inc. of Jersey City, N.J. and NetRate Systems Inc. of Okemos, Mich., have announced a new partnership that combines the companies’ technology solutions to provide property and casualty insurance carriers with...
PartnerRe Posts 37% Increase in January Renewal Premiums to $1.37 Billion
Mar 12 2002 // Bermuda’s PartnerRe Ltd. announced that “the Company bound contracts expected to generate $1.37 billion in premiums during its key January 2002 renewal season — an increase of 37%.” The Company the...
OPTIS Partners Formed to Help Agencies and Insurers Optimize Performance and Financial Results
Mar 12 2002 // OPTIS Partners, LLC, a consulting firm that works with agencies, brokers and insurers to optimize performance and financial results, has been formed by four of the industry’s most experienced senior...
The Heffernan Group Acquires DeWolf Insurance Agency
Mar 12 2002 // The Heffernan Group, one of the largest brokerage firms in the country, has acquired DeWolf Insurance Agency, a San Rafael, Calif.-based brokerage firm specializing in small commercial business and personal insurance...
Preserver Group Acquires 81% of Shares as Tender Offer Expires
Mar 1 2002 // The New Jersey-based Preserver Group announced that its offer to purchase the outstanding shares of the company expired at 5:00 p.m. New York time yesterday, and that 700,200 shares had been tendered. This amount together...
ISO Acquires 100 Percent of NetMap Analytics
Feb 27 2002 // Insurance Services Office, Inc. (ISO) has acquired 100 percent of NetMap Analytics LLC, a Columbus, Ohio-based software company that produces visual-link analysis technology used to detect fraud in insurance claims. The...
Alabama Co. BUYS TX Agencies
Feb 25 2002 // Vesta Insurance Group Inc., a Birmingham, Ala.-based holding company for insurance and financial service providers, announced that its Instant Insurance Holdings Inc. subsidiary has acquired two non-standard auto insurance...
CDI Winds Down Two-Year Promotion, Ad Revival Rests on Funding
Feb 25 2002 // It is not as long as we would have liked, but our goal is to get the message out there.” That, according to Larry Boyd, senior insurance compliance officer for the California Department of Insurance (CDI), is the...
CGNU Sells Portuguese Unit to Ergo, Expands In Asia with DBS Deal
Feb 19 2002 // CGNU, the U.K.’s largest insurance company, continued its planned exit from the European p/c market and its expansion in Asia with the announcement that it would sell its Portuguese property insurance business to...
PartnerRe Posts Strong Growth, But WTC Attacks, Enron Hit Earnings
Feb 12 2002 // Bermuda’s PartnerRe Ltd. reported results for the fourth quarter and full year which reflected the tumult felt by many insurers in 2001. While net premiums written rose 30 percent to $1.825 billion, the company...
Allianz to Buy Out Minority Interests
Feb 8 2002 // Germany’s Allianz AG announced that it plans to acquire the minority interests of shareholders in its subsidiaries Dresdner Bank, Hermes and Vereinte Versicherung in a so-called “squeeze-out”. Paul...
Fondiaria Shareholder Asserts JP Morgan Must Make Full Takeover Bid
Feb 6 2002 // Liverpool Limited Partnership, a Bermuda-based mutual fund, which owns about one percent of the shares of Italy’s Fondiaria, has asserted that JP Morgan Chase, which just agreed to acquire a 22 percent stake in the...
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...
