Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Fairfax Increases Offer to Buy American Safety to $30.25 Per Share
Aug 9 2013 // Bermuda-based American Safety Insurance Holdings, Ltd. announced that Fairfax Financial Holdings Limited has increased its offer to purchase American Safety to $30.25 per share from the previously announced $29.25 per...
No Ratings Change for Syndicate 2010 from Lancashire Acquisition Says Best
Aug 9 2013 // A.M. Best Europe – Rating Services Limited has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 2010,...
Best Sees No Change in Lancashire’s Ratings from Cathedral Acquisition
Aug 9 2013 // A.M. Best Co. has commented that the ratings of Bermuda-based Lancashire Holdings Limited, Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) Limited – collectively known as Lancashire –...
IRMI Acquires Agribusiness and Farm Certification from IIABCal
Aug 8 2013 // International Risk Management Institute Inc. has entered into an agreement with the Independent Insurance Agents & Brokers of California to acquire the Agribusiness and Farm Insurance Specialist certification...
EPIC Acquires SafeHarbor Risk Management, Expands in East Coast
Aug 7 2013 // EPIC, a San Mateo, Calif.-based retail property/casualty insurance brokerage and employee benefits consultant, acquired SafeHarbor Risk Management. Founded in 2009, privately-held SafeHarbor is a property/casualty...
Rail Crossing Deaths Up in Georgia But Safety Gate Funding Lags
Aug 6 2013 // Cost is one of the many issues preventing gate and bell systems from being installed at Georgia’s roughly 5,000 public rail crossings, state and local officials say. Georgia recorded 47 highway-rail crossing deaths...
Meadowbrook Insurance Looking for ‘A-Rated’ Partner After Downgrade
Aug 5 2013 // Following a downgrade of its financial strength ratings (FSR) to “B++” from “A-” by A.M. Best Co. on Friday, Meadowbrook Insurance Group announced that it will seek to make arrangements with an...
Insurance Broker Hub Intl. Acquired by Funds Manager in Deal Valued at $4.4 Billion
Aug 5 2013 // Global insurance broker Hub International Limited (Hub), said it has agreed to be acquired by funds advised by Hellman & Friedman LLC. The transaction values Hub at approximately $4.4 billion. Under the terms of the...
Confie Seguros Acquires Florida’s Economy Insurance Mart
Aug 5 2013 // Growing personal lines agency Confie Seguros has acquired Economy Insurance Mart of Spring Hill, Fla., which sells auto, home and small commercial insurance. Economy Insurance Agency was founded in 1993 and is a privately...
Relationships, Expertise Drive Successful Partnerships in E&S Marketplace
Aug 5 2013 // During the past 20 to 30 years typical business dealings between wholesale insurance brokers and retail agents have evolved from being purely transactional experiences to those that are highly dependent upon relationships...
Fairfax Provides American Safety with Waiver under Merger Agreement
Aug 1 2013 // Bermuda-based American Safety Insurance Holdings, Ltd. announced that Fairfax Financial Holdings Limited has provided the company “with a waiver of certain provisions under the merger agreement between the...
PartnerRe Posts $175.6 Million Q2 Net Loss; Operating Earnings $51.5 Million
Jul 30 2013 // Bermuda-based PartnerRe Ltd. reported a net loss of $175.6 million, or $3.37 per share for the second quarter of 2013. The earnings announcement said the figure “includes net after-tax realized and unrealized losses...
M&A Activity Inches Along
Jul 22 2013 // Merger and acquisition (M&A) activity in the second quarter of 2013 mirrored the first, continuing at a leisurely pace. Thirty-six transactions were announced from April to June, compared to 66 during the same time...
Va.-Based Andrew Agency Acquires Samuel D. Baughman Insurance Agency
Jul 19 2013 // The Andrew Agency, an independent insurance agency based in Richmond, Va., announced its acquisition of Samuel D. Baughman Insurance Services, an agency also based in Richmond. The Andrew Agency serves clients in Virginia,...
USI Insurance Services Acquires Cohen-Seltzer Agency in Pennsylvania
Jul 17 2013 // USI Insurance Services said it completed its acquisition of Cohen-Seltzer Inc., in Fort Washington, Penn. Terms of the transaction were not disclosed. A third generation family-owned insurance agency formed in 1926,...
Georgia’s Ink Underwriting Acquires California’s Pioneer Programs
Jul 16 2013 // Newly-formed Ink Underwriting in Kennesaw, Georgia, said it has acquired Pioneer Programs Insurance Solutions, a Pasadena, California-based niche insurance program administrator for the construction and long term care...
Leavitt Group to Buy United Valley; a Collective 150 Agencies in West
Jul 12 2013 // United Valley Insurance Services and Leavitt Group Enterprises have agreed to a merger, giving the two firms a collective 150 insurance agencies and counting under one owner. The deal was announced late Friday. Under the...
Swiss Re in Talks with Phoenix on Admin Re Merger
Jul 12 2013 // Swiss Re Ltd., the world’s second- biggest reinsurer, said it’s in preliminary talks about combining its Admin Re business with Phoenix Group Holdings. “There is no certainty that these discussions will...
New China Life Falls as Zurich Insurance Sells Shares
Jul 12 2013 // New China Life Insurance Co. fell by the most in almost a year in Hong Kong after Zurich Insurance Co. sold 97.5 million shares in the third-biggest Chinese life insurer by premium income last year. The stock dropped 6.4...
Pennsylvania Insurance Department Gets Dedicated Funding Structure
Jul 9 2013 // The Pennsylvania Insurance Department announced this week that it now has access to a dedicated funding source, thanks to Gov. Tom Corbett’s recently signed 2013-14 budget and newly enacted legislation, Act 46. This...
