Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
ING To Acquire 35% Interest in Japanese Finance Company
Dec 21 2000 // Holland’s ING Group announced plans to acquire a 35 percent interest in the mid-sized Japanese financial services company Nice Co. for between $17.7 and $26.6 million, and will become its largest shareholder. The...
Allianz May Acquire Stake in Czech Insurer
Dec 21 2000 // Germany’s Allianz is in talks with the Czech government concerning the acquisition of its 30 percent holding in the country’s biggest insurance group, Ceska Pojistovna. The move would further strengthen...
High River Affiliate to Buy Reliance Group Bonds
Dec 19 2000 // Affiliates of High River LP plan to buy about $61 million of bonds issued by Reliance Group Holdings. The affiliates are making a tender offer in order to block any debt restructuring plan it considers unacceptable should...
Conseco Sells Some Assets to Wells Fargo
Dec 12 2000 // Conseco Inc. has signed an agreement to sell most of the assets of Conseco Finance’s Vendor Services unit to Wells Fargo Financial Leasing Inc. for roughly $160 million in cash. Vendor Services is one of...
XL To Acquire CGU’s U.S. Surety Business
Dec 11 2000 // Bermuda’s XL Capital Ltd. announced that its surety bond unit, XL Specialty Insurance Co., has agreed to purchase CGU’s U.S. surety business of for an undisclosed amount. XLSIC President Daryl LaForge stated...
HIH Sells Renewal Rights to Argonaut, Alaska National
Dec 11 2000 // In the latest action in the volatile workers’ compensation arena, Argonaut Insurance Company announced it will acquire the renewal rights and other tangible assets associated with the workers’ comp business of...
Liberty Mutual Sells Subsidiary to Mexican Group
Dec 6 2000 // Mexico’s Grupo Financiero Inbursa announced that it had purchased Liberty Mexico Seguros from Liberty Mutual, its parent company, for $11.5 million. Inbursa operates Seguros Inbursa, and plans to merge...
Arthur J. Gallagher Acquires SiliconInsurance
Dec 5 2000 // Arthur J. Gallagher & Co. has acquired SiliconInsurance of Chicago. Terms of the transaction were not disclosed. Founded by Michael Flanagan, Silicon provides a full range of property/casualty and risk consulting...
Waypoint acquires Owen Insurance Agency
Dec 5 2000 // Waypoint Financial, the parent company for Waypoint Bank has completed its acquisition of the Owen Insurance Agency, one of the area’s largest independent insurance agencies. Owen offers a full range of property and...
HIH Sells W/C Book, Ceases Writing New Business
Nov 29 2000 // San Francisco-based HIH America Compensation and Liability Insurance Company is selling the renewal rights and other tangible assets associated with its large account California workers’ compensation business to...
AGF Acquires 25 Percent Stake In Tindall Riley Marine
Nov 29 2000 // AGF, the French subsidiary of Germany’s Allianz, has acquired a 25 percent stake in U.K. based maritime insurance manager Tindall Riley Marine for an undisclosed amount. TRM, one of six major marine mutual insurance...
ING To Form Indian Life Partnership
Nov 29 2000 // Holland’s ING became the latest big global insurance group to announce the formation of a joint venture with Indian partners in order to enter India’s insurance market. ING will hold a 26 percent interest, the...
Premium Income Rises at Allianz – Eyes U.K. Acquisition
Nov 27 2000 // German insurance giant Allianz AG announced that premium income for the first 9 months of the year reached a record €50.9 billion ($42.675 billion) a 15.5 percent rise over 1999. Property and casualty operations...
Applied Systems Partners with Data Transit
Nov 27 2000 // Applied Systems Inc. has unveiled a strategic partnership with Data Transit International that was established last month. The agreement calls for Data Transit to house Applied’s Internet-based insurance agent/broker...
Amtrust Financial To Buy Struggling Credit General
Nov 27 2000 // According to Michael Camilleri, president and CEO of Amtrust Insurance Operations, Amtrust Financial Group signed a definitive agreement on Nov. 20 to purchase the insolvent Credit General Insurance Company. Credit...
Connecticut DOI Approves Acquisition of HSB by AIG
Nov 22 2000 // HSB Group Inc. announced that yesterday the Connecticut State Insurance Department approved the acquisition by American International Group Inc. of The Hartford Steam Boiler Inspection and Insurance Company and The...
Bankers to Acquire Additional Shares of Insurance Management Solutions
Nov 22 2000 // Bankers Insurance Co. announced today the intent to purchase up to 250,000 outstanding shares of common stock of Insurance Management Solutions Group Inc. Insurance Management Solutions Group is a majority owned subsidiary...
CGNU Loses Indian Life Ins. Partner
Nov 20 2000 // In an unexpected move The Hindustan Times, a unit of India’s K.K. Birla Group, is reportedly shelving plans to form an Indian life insurance subsidiary in partnership with Britain’s CGNU. A report from Reuters...
OPL Acquires Finite Risks Team
Nov 20 2000 // Continuing its specialized growth strategy, Bermuda based Overseas Partners Ltd.(OPL) announced that it has acquired “a team of finite risk professionals from Stockton Re, Bermuda, a recognized leader in the finite...
Target Capital To Acquire Southeast Underwriting Group Corporate Assets
Nov 17 2000 // Avon, Conn.-based Target Capital Partners Inc., a managing general agency and provider of specialty insurance programs, and Southeast Underwriting Group Inc., a specialty agency and underwriting manager headquartered in...
