Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Aon, Inmarsat in Space Partnership
Sep 19 2008 // In the face of rising space insurance premiums (up at least 15 percent), Aon announced that it has “worked with Inmarsat to maintain pre-increase pricing for the successful launch of its I-4F3 satellite on board a...
Gallagher & Co. Acquires San Antonio’s Summit Insurance Group
Sep 18 2008 // Illinois-based Arthur J. Gallagher & Co. announced it has acquired Summit Insurance Group in San Antonio, Texas. Terms of the transaction were not disclosed. Established in 1997, Summit Insurance Group offers a wide...
Gallagher Acquires UK’s Oxygen Insurance Managers
Sep 17 2008 // Oxygen Holdings Plc, a London market insurance intermediary, and Arthur J Gallagher (UK) announced the sale of Oxygen’s underwriting subsidiary, Oxygen Insurance Managers Ltd. (OIM) to Gallagher (UK), for an...
PartnerRe Estimates Gustav Losses Between $25 to $45 Million
Sep 12 2008 // Bermuda-based PartnerRe Ltd. announced that its preliminary estimate of claims relating to its exposure to Hurricane Gustav are currently expected to be between $25 and $45 million on a pre-tax basis, net of reinstatement...
Arthur J. Gallagher & Co. Acquires California Insurance Center
Sep 12 2008 // Arthur J. Gallagher & Co. has acquired California Insurance Center, Inc. of Lafayette, Calif. Terms of the transaction were not disclosed. Founded in 1929, California Insurance Center Inc. is a retail insurance broker...
Armstrong/Robitaille/Riegle Acquires Balance Insurance Agency
Sep 11 2008 // Orange, Calif.-based Armstrong/Robitaille/Riegle Business and Insurance Solutions has acquired Balance Insurance Agency of Irvine, Calif. Balance Insurance Agency was founded in 1991 as a specialty agency. Its excellent...
Wells Fargo Insurance Acquires Herder – Tarricone in New Jersey
Sep 11 2008 // Wells Fargo Insurance Services, Inc. reported that it has acquired the assets of Three Bridges, New Jersey’s Herder – Tarricone Associates. Herder – Tarricone Associates provides insurance, employee...
Hub International Acquires Fredricksen Insurance Services
Sep 10 2008 // Chicago-based Hub International Ltd. has acquired Fredricksen Insurance Services, a Hemet, Calif., agency, as well as acquired PMT, Fredricksen’s retail brokerage subsidiary. Fredricksen’s operations will...
Florida-based Comegys Insurance Acquires Jakhotia Insurance Group
Sep 9 2008 // St. Petersburg, Florida-based Comegys Insurance recently acquired Tampa-based Jakhotia Insurance Group. The employees of both firms will combine all operations in Comegys’ offices in St. Petersburg effective...
PartnerRe to Repurchase Shares
Sep 9 2008 // Bermuda-based PartnerRe Ltd. announced that its Board of Directors has approved an increase in the Company’s share repurchase authorization for a total of up to 5 million common shares. “This reflects an...
Hub International Acquires Arnold & Associates
Sep 8 2008 // Chicago-based Hub International Ltd. has acquired the assets of Arnold and Associates Inc., a Phoenix-based agency specializing in employee benefits. Arnold will become part of Hub International of Arizona, a division of...
Wells Fargo Acquires Char Clark Associates
Sep 4 2008 // Wells Fargo Insurance Services, a subsidiary of Wells Fargo & Co., has acquired the assets of Spokane, Wash.’s Char Clark Associates Inc. The acquisition adds to Wells Fargo’s presence in Washington...
Hilb Rogal & Hobbs Acquires G.A. Pearson and Associates Insurance Brokers
Sep 4 2008 // Hilb Rogal & Hobbs Co. announced that, effective as of September 1, 2008, it has acquired all the stock of G.A. Pearson and Associates Insurance Brokers Inc. Terms of the transaction were not disclosed. With...
Wholesaler CRC Insurance Acquires Competitor Southern Risk of S.C.
Sep 3 2008 // CRC Insurance Services Inc., the wholesale insurance subsidiary of BB&T Corp., reports it has completed a purchase of Southern Risk Operations LLC. Sumter, S.C.-based Southern Risk is an excess and surplus (E&S)...
Unitrin to Acquire Auto Insurer Direct Response Corp. for $220M
Sep 3 2008 // Unitrin, Inc. reported today that its subsidiary, Trinity Universal Insurance Co. is buying Direct Response Corp. and its subsidiaries. Trinity will acquire Direct Response in a cash transaction valued at approximately...
Hallmark Financial Services Acquires Heath Group
Sep 3 2008 // Hallmark Financial Services Inc. acquired 80 percent of the outstanding membership interests in Heath XS LLC and Hardscrabble Data Solutions LLC (collectively referred to as “Heath Group”) for cash...
Florida Approves AmCOMP Merger, Wants $8.4 Million Refund
Sep 2 2008 // Florida Insurance Commissioner Kevin McCarty approved the merger of AmCOMP with Employers Holdings Inc. and required AmCOMP to repay $8.4 million in excessive profits to its Florida policyholders. AmCOMP ‘s insurance...
Hilb Rogal & Hobbs Acquires San Diego’s G.A. Pearson Insurance
Sep 2 2008 // Virginia-based insurance brokerage Hilb Rogal & Hobbs Co. (HRH) reports it has has G.A. Pearson and Associates Insurance Brokers, Inc. of San Diego, Calif. Terms of the transaction were not disclosed Pearson had...
Allianz Sells Dresdner to Commerzbank for $14.23 Billion
Sep 2 2008 // After weeks of speculation, Germany’s Allianz SE has announced the sale of its Dresdner Bank unit, the country’s third largest, to Commerzbank for €9.8 billion ($14.2289 billion). Allianz also said it has...
Brokers’ Stocks Up Slightly for the Year; Banks Active in Brokerage M&As
Sep 1 2008 // Stock Prices: The brokerage sector as a whole is up 2 percent for the year. Arthur J. Gallagher’s (NYSE:AJG) stock has faired well compared to peer Brown & Brown (NYSE:BRO). Gallagher’s stock is up 6.5...
