Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Illinois Bill Would Require Gun Owners to Buy $1M in Liability Insurance
Feb 18 2009 // An Illinois state lawmaker is proposing that gun owners be required to carry personal liability insurance of at least $1 million. Rep. Kenneth Dunkin’s bill seeks to amend the state’s Firearm Owners...
Beazley Acquiring The Hartford’s Surplus Lines Insurer, First State
Feb 17 2009 // London-based insurer and reinsurer Beazley Group is acquiring Boston-based First State Management Group, an underwriting manager specializing in excess and surplus lines commercial property insurance for $35.4 million in...
Gallagher Buys Waco Agency
Feb 13 2009 // Arthur J. Gallagher & Co. announced it has acquired Fidelity Benefits & Insurance Services in Waco, Texas. Founded in 2003, Fidelity Benefits & Insurance Services (FBIS) is an employee benefits consultant...
Marsh Sees Growth in 2009 Boosted by Acquisitions
Feb 12 2009 // Marsh & McLennan Cos Inc , the No. 2 global insurance broker, reported better-than-expected fourth-quarter earnings, helped by lower costs, and forecast higher profits in 2009, sending its shares up 16 percent. The...
PGI Commercial Acquires Assets of Michigan’s Underwriters & Brokers
Feb 11 2009 // PGI Commercial has acquired the assets of Underwriters & Brokers, Inc. of Troy, Michigan. PGIC said it will merge the platform and staff of UBI with its existing Michigan office. Underwriters & Brokers, Inc....
State Auto Mutual Completes Acquisition of Missouri’s Rockhill
Feb 10 2009 // State Automobile Mutual Insurance Co. of Columbus, Ohio, has completed its purchase of Rockhill Insurance Group of Kansas City, Mo. Rockhill writes approximately $120 million in specialty property and casualty direct...
Thai Bank Acquires AIG Bank, Card Business; S&P: ‘No Rating Change’
Feb 9 2009 // Thailand’s Bank of Ayudhya Public Company Limited (BAY) and American International Group, Inc. (AIG) announced an agreement under which BAY will acquire AIG Retail Bank Public Company Limited and AIG Card (Thailand)...
Arthur J. Gallagher & Co. Acquires Dallas-Based PartnerSource
Feb 9 2009 // Arthur J. Gallagher & Co. has acquired retail insurance broker and consultant PartnerSource Inc. in Dallas, Texas, Gallagher announced. Organized in 1994, PartnerSource specializes in the design, implementation and...
Insurers’ Stocks Down 14%; Middle Market Carriers Active in Intermediary Acquisitions
Feb 8 2009 // Stock Price: Commercial lines stocks mirrored those of major indices in 2008, trading down 14 percent. Mergers & Acquisitions: Middle market carriers continue to be major players in the acquisition market as they look...
Ohio Among States Weighing Tougher Seat Belt Laws to Get Funding
Feb 6 2009 // More cash-strapped states want to give law enforcement officers the authority to pull over motorists who aren’t wearing seat belts. The 15 states, including Ohio, that are considering making the switch need to do so...
G4S, National Unity Form Anti-Fraud Partnership
Feb 6 2009 // North Carolina-based G4S Compliance & Investigations has formed partnership with National Unity Insurance Company, a Texas-headquartered company specializing in providing liability insurance for Mexican private and...
Aon Hit With Q4 Benfield Merger Costs But Broker Commissions Grow Slightly
Feb 6 2009 // Aon Corp., the largest global insurance brokerage by assets, reported that net income fell 95 percent in the fourth quarter as it incurred costs related to restructuring and its merger with Benfield Group. Net income was...
Tower Group Completes Acquisition of CastlePoint Holdings
Feb 5 2009 // Tower Group Inc. has completed its acquisition of CastlePoint Holdings Ltd. in a transaction valued at $531 million based on Tower’s current market price. Tower announced a definitive agreement to acquire CastlePoint...
PartnerRe Q4 Net Drops 52% to $95.3 Million; FY Down 94% to $46.5 Million
Feb 4 2009 // PartnerRe Ltd. joined the growing list of companies, reporting sharp fourth quarter and full year net income decreases. The Bermuda-based reinsurer posted Q4 net income of $95.3 million, compared to the $180.6 million it...
Texas Governor Calls for Reform of Texas Wind Pool Funding
Feb 4 2009 // Three of the five emergency items that Texas Gov. Rick Perry has outlined for the 2009 legislative session relate to hurricane recovery, including legislation to reform the Texas Windstorm Insurance Association (TWIA) and...
North Dakotans Urged to Buy Flood Insurance Before Spring Melt
Feb 3 2009 // With record amounts of snow in North Dakota, Insurance Commissioner Adam Hamm is urging homeowners, renters and business owners to consider buying a flood insurance policy. Hamm says there’s a 30-day waiting period...
Wills/HRH Executive McCurry Joins Georgia’s Seacrest Partners
Feb 3 2009 // Seacrest Partners, Inc., a Savannah-based insurance brokerage and employee benefits consulting firm, reported that J. Cliff McCurry has joined the firm as vice chairman. McCurry will oversee business development activities...
EPIC Acquires VRT Insurance Services
Feb 2 2009 // EPIC (Edgewood Partners Insurance Center) has entered into an agreement to acquire substantially all the assets of VRT Insurance Services Inc. The transaction is expected to close in early February, 2009. VRT Insurance...
Report: AIG Eyes Federal Backstop on Assets, Recapitalization Options
Feb 2 2009 // American International Group, the insurer rescued from collapse by the government in September, is in discussions with Washington about a federal backstop for some of its assets, The Wall Street Journal reported...
S&P Takes Rating Actions on Aurora, Unipol, UGF Ahead Of Merger
Feb 2 2009 // Standard & Poor’s Ratings Services announced that it has withdrawn its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on Italy-based composite insurer Aurora Assicurazioni...
