Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Citigroup’s Acquisition of Mexico’s Banacci Affects Insurers
May 18 2001 // Yesterday’s announcement that Citigroup will acquire Mexico’s second largest financial group, Grupo Financiero Banamex Accival, popularly known as “Banacci,” for $12.5 billion in cash and stock,...
CNA Forms Alliance with Ambridge Partners For TFI Products
May 17 2001 // CNA Global Specialty Lines, a unit of Chicago’s CNA, based in New York, announced an alliance with London’s Ambridge Partners LLC, described as “a highly specialized managing general underwriter for...
BISYS Acquires Insurance Exchange of America
May 16 2001 // BISYS announced the acquisition of The Insurance Exchange of America Inc. (IXA), a New Jersey-based insurance brokerage firm, currently supporting more than 3,000 insurance producers with an array of sales programs and...
Prudential (U.K.), Other Europeans Seeking U.S. Acquisitions
May 16 2001 // Enriched by the $600 million it received as a break up fee from AIG-American General, Britain’s Prudential plc is still looking for opportunities to expand in the U.S. market, but it’s not alone. According to...
Allstate Acquires Sterling Collision Centers
May 15 2001 // The Allstate Corporation recently announced it has acquired Sterling Collision Centers Inc., which operates a network of 39 auto collision repair stores in seven states and nine metropolitan locations. According to George...
CFS to Acquire Lundeberg Insurance
May 11 2001 // CFS Insurance Agency, Inc. (CFS Insurance), a wholly owned subsidiary of Citizens Financial Services, FSB (Citizens), agreed to acquire Lundeberg Insurance Associates, Inc. (Lundeberg Insurance) of Highland, Indiana...
Insurance Auto Auctions Acquires Albuquerque Facility
May 11 2001 // Insurance Auto Auctions (IAA) Inc., providing insurance companies with turnkey solutions to process and sell total-loss and recovered-theft vehicles, acquired a greenfield facility in Albuquerque, N.M. The new facility...
Argonaut Acquires Front Royal
May 9 2001 // In a move to expand its expand its specialty insurance services, Argonaut Group Inc. signed a definitive agreement to acquire Morrisville, N.C.-based Front Royal Inc., for $165 million in cash. According to a Reuters...
ING In Talks to Acquire Majority Stake in Segcoam
May 8 2001 // Holland’s ING Group is in talks with Savia, Mexico’s troubled financial services and technology group, to acquire its controlling interest in Seguros Comercial America, Mexico’s largest insurance...
PartnerRe Q1 Net Income Dips as Premiums Rise
May 8 2001 // Bermuda’s PartnerRe Ltd. reported net operating earnings of $55.6 million for the first quarter, a slight decrease from the $57.1 million recorded last year. Net premiums written, however, increased to $597.8 million...
Brown Brown Buys Young Agency
May 8 2001 // Florida’s Brown & Brown Inc. acquired Syracuse, N.Y.-based The Young Agency Inc. The transaction, which became effective May 4, creates one of Brown & Brown’s larger operations. Brown & Brown,...
ARGONAUT TO BUY NORTH POINTE
May 7 2001 // Argonaut Group Inc. announced that one of its subsidiaries has signed a definitive purchase and sale agreement with Queensway Financial Holdings Ltd. to acquire the shares of North Pointe Financial Services Inc., Hermitage...
Wells Fargo Acquires ACO Brokerage Holding Corp.
May 3 2001 // Wells Fargo & Company announced the completed acquisition of ACO Brokerage Holding Corporation, parent company of Acordia Inc., one of the nation’s largest independent property/casualty insurance...
Sherwood Acquires Concise Technologies
May 1 2001 // Sherwood International, a supplier of solutions to the global insurance marketplace, has acquired Concise Technologies Inc. for an estimated $13 million in cash and equity. The acquisition is aimed at strengthening...
Esurance Partners with California Coast
May 1 2001 // Esurance Inc., a national quote-to-claims Internet-based provider of personal auto insurance, and California Coast Credit Union, one of San Diego’s largest credit unions, announced a partnership to provide its...
Swiss Re To Acquire Southwestern Life Holdings
Apr 30 2001 // Swiss Re announced it had agreed to acquire Dallas-based Southwestern Life Holdings, Inc., which specializes in life, health, annuities and long term care products, in an all cash transaction valued at $171 million. The...
CONSECO TO BUY INDIAN COMPANY
Apr 30 2001 // Following a recent decision to reduce its work force by 14 percent through outsourcing its customer service and backroom operations to India, Indianapolis-based Conseco Inc. announced that it would acquire exlService, an...
Charter Partners Create New Membership Group
Apr 28 2001 // Charter Partners USA Inc., a Hampton, N.J.-based creator of insurance purchasing groups for middle-market risks, announced that the Regional Alliance of Metalcasters has been formed as a new membership group. The Regional...
So. Africa’s Old Mutual To Acquire St. Paul’s FG
Apr 27 2001 // Old Mutual, a South African financial services company which trades on the London Stock Exchange, announced that it had agreed to purchase Fidelity and Guaranty Life Insurance Co., a Baltimore-based subsidiary of The St....
ING Sells Argentine Life Sub to AIG – Expands Polish Operations
Apr 27 2001 // Holland’s ING Group agreed to sell Aetna Vida S.A., an Argentine life subsidiary it acquired last year as part of Aetna’s international operations, to AIG’s American Life Insurance Company for an...
