Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
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...
Trade Center Attack, Acquisitions, Economy to Test AIG
Sep 24 2001 // The events of Sept. 11 shook the foundations of the entire American financial community, and American International Group was no exception. Ironically, AIG had already had a very busy month. In Korea, it looked set to...
The Heffernan Group and MBO Insurance Brokers Announce Merger
Sep 18 2001 // The Heffernan Group, one of the largest full-service brokerages firms in California, and MBO Insurance Brokers Inc., an independent brokerage firm specializing in commercial insurance on a worldwide basis, announced the...
Fiserv Finalizes Agreement to Acquire Pittsburgh Bank’s IP Operations
Sep 7 2001 // Wisconsin-based Fiserv Inc. completed its previously announced agreement to acquire the item processing business of the Federal Home Loan Bank of Pittsburgh, according to Leslie M. Muma, president and CEO of Fiserv....
Liberty Mutual to Acquire OneBeacon P/C Operations in Partnership Deal
Sep 6 2001 // Boston-based Liberty Mutual Group announced that it was in the final stages of concluding an agreement with OneBeacon to set up a partnership arrangement “to transfer OneBeacon’s property and casualty business...
Arch Capital to Acquire Tri-City Brokerage
Sep 6 2001 // Arch Capital Group Ltd., a diversified Bermuda-based financial services company, announced plans to acquire Tri-City Brokerage, Inc. from Ullico Inc. for an undisclosed amount. Tri-City, which has offices in Chicago, Long...
Hilb, Rogal Acquires Baltimore’s Thaler Enterprises
Sep 5 2001 // Hilb, Rogal and Hamilton strengthened its presence in the Mid-Atlantic region with the announcement that it was acquiring substantially all of the operating assets of Thaler Enterprises, Inc.,”a diversified financial...
Barney and Barney, Salu Inc. Partner to Provide Medical Malpractice Coverage
Aug 31 2001 // San Diego-based brokerage firm Barney & Barney LLC and Salu Inc. entered into an agreement to provide Salu’s physician-specialist members with medical malpractice insurance coverage at competitive prices...
AIG Announces Closing of American General Acquisition
Aug 30 2001 // American International Group, Inc. (AIG) announced today the closing of its acquisition of American General Corporation (American General). Based on the closing date of Aug. 29, American General shareholders will receive...
Argonaut Terminates Pact to Buy Some Queensway Assets
Aug 30 2001 // Argonaut Group Inc. announced it has terminated the purchase and sale agreement with Queensway Financial Holdings Ltd. previously announced on April 18, 2001. Under the agreement, Argonaut Group was to have acquired...
