Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Fairfax to Buy Rest of Northbridge for $550 Million
Dec 2 2008 // Fairfax Financial Holdings said Monday it plans to spend C$686 million (US$550 million) to buy the remaining shares of Canadian property and casualty insurer Northbridge Financial that it does not already own. Fairfax,...
Partner Re Raises Ike Loss Estimates
Dec 2 2008 // Bermuda-based PartnerRe Ltd. has increased its estimate of claims from Hurricane Ike by $115 million to a total estimate of approximately $305 million, pre-tax and after reinstatement premiums. PartnerRe said its...
Donegal Group Acquires Sheboygan Falls Insurance Company
Dec 2 2008 // Donegal Group Inc. recently reported that it had completed the acquisition of all of the outstanding capital stock of Sheboygan Falls Insurance Co. The acquisition was approximately $12 million, which includes a surplus...
Jimcor Agencies Acquires Zaloom Associates
Dec 2 2008 // Montvale, New Jersey-based Managing General Agency Jimcor Agencies has acquired wholesale brokerage Zaloom Associates Inc. Zaloom Associates will be a division of Jimcor Agencies and will be located in the Montvale office,...
Zurich Closes Brazil Acquisitions
Dec 2 2008 // Zurich Financial Services announced that its Brazilian subsidiary Zurich Participações e Representações Ltda. (Zurich Participações) has completed the acquisition of common shares representing 87.35 percent in...
Unibanco, AIG in Joint Repurchase Plan of Brazilian Joint Venture Shares
Dec 1 2008 // Unibanco – União de Bancos Brasileiros S.A. – and American International Group, Inc. announced that they have entered into an agreement to repurchase their crossholdings in Unibanco AIG Seguros S.A. (UASEG)...
Hanover Insurance Completes Acquisition of Specialty Program Writer AIX
Dec 1 2008 // Super regional insurance carrier The Hanover Insurance Group, Inc. has completed the previously announced acquisition of AIX Holdings, Inc. Windsor, Conn.-based AIX Holdings is a specialty property and casualty insurer...
Aon Completes Acquisition of Benfield; Restructuring Includes Layoffs
Dec 1 2008 // Aon Corp. has completed its $1.43 billion acquisition of Benfield Group Limited, creating Aon Benfield, reinsurance intermediary and capital advisor, which will launch on Dec. 1. “The completion of this transaction...
RenRe’s WeatherPredict Acquires Assets of Commodity Hedgers
Dec 1 2008 // Bermuda-based RenaissanceRe Holdings announced that its U.S. affiliate, WeatherPredict Consulting Inc., has acquired the primary technology assets of Commodity Hedgers, Inc. RenRe described the company as a...
There’s No Wrong or Right Time for an M&A
Nov 30 2008 // But Finding Financing Has Gotten Tougher When it comes to acquiring an agency or selling, timing is everything. Hard market or soft market, good business environment or bad, the decision on whether to merge, acquire or...
Aon Notes M&A Activity Produces Increased Warranty Claims
Nov 25 2008 // A bulletin from Aon’s London office concerning mergers and acquisitions states that “sellers are facing a new hurdle as buyers are increasingly seeking to recover damages for financial discrepancies on the cusp...
Texas Mutual, NFIB Partnership Pays Dividends for Small Businesses
Nov 25 2008 // Texas Mutual Insurance Company announced a $446,998 dividend to the National Federation of Independent Business (NFIB) purchasing group for manufacturers. The group has earned more than $542,000 in dividends since 2007,...
Arthur J. Gallagher Buys Georgia’s Continental Special Risks
Nov 25 2008 // Insurance broker Arthur J. Gallagher & Co.’s subsidiary, Risk Placement Services, Inc., reported that it has acquired Continental Special Risks, Inc., in Roswell, Georgia. Terms of the transaction were not...
FTC Blocks Merger of Insurance Loss Vendors CCC Information, Mitchell
Nov 25 2008 // The Federal Trade Commission has filed suit to block the merger of CCC Information Services Inc. and Mitchell International Inc., charging that the merger would hinder competition in the market for electronic systems used...
Wholesale Broker Advanced E & S Group Acquires Florida’s Symons
Nov 24 2008 // Hollywood, Florida-based insurance wholesale broker Advanced E & S Group has acquired Symons International Group of Boca Raton and merged it into its Florida operation. Symons is a wholesale broker and underwriting...
IAG, State Bank of India Agree to Form General Insurance Joint Venture
Nov 24 2008 // Insurance Australia Group Limited (IAG) and State Bank of India (SBI) announced that they have signed a joint venture agreement to establish a general insurance company in India, which is expected to commence trading in...
Wells Fargo Acquires Assets of Michigan’s Doeren Mayhew Risk Management
Nov 24 2008 // San Francisco-based Wells Fargo Insurance Services Inc. a bank-owned insurance brokerage and a subsidiary of Wells Fargo & Co., has acquired the assets of Troy, Michi.’s Doeren Mayhew Risk Management LLC. Doeren...
Zurich Completes Russian Acquisition
Nov 21 2008 // Zurich Financial Services Group has announced the completion of the acquisition of a remaining 34 percent minority stake in Russia’s OOO NASTA Insurance Company, which was renamed Zurich Retail Insurance Ltd. at the...
Japan Approves Tokio Marine Acquisition of Philadelphia Insurance
Nov 21 2008 // Philadelphia Consolidated Holding Corp. reported that the Financial Services Agency of Japan has approved its acquisition by Tokio Marine Holdings, Inc. Tokio Marine is acquirinsg all outstanding shares of the insurer for...
Arthur J. Gallagher Buys The HR Group of Tennessee
Nov 20 2008 // International insurance broker Arthur J. Gallagher & Co. reported it has acquired The HR Group, LLC in Brentwood, Tennessee. Terms of the transaction were not disclosed. Established in 1996, The HR Group offers...
