Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Swiss Re to Acquire Barclay’s Run-off Life Business for $1.47 Billion
Aug 5 2008 // Swiss Re has agreed to acquire Barclays Life Assurance Company Ltd. for £753 million ($1.472 billion). “The transaction will provide further scale and infrastructure for Swiss Re’s Admin Re® business...
Babcock Named as PartnerRe’s Group Finance Director
Aug 5 2008 // Bermuda-based PartnerRe Ltd. announced that William Babcock has been appointed as the Group’s Finance Director. He will report to CFO Albert Benchimol, and will have overall responsibility for Group finance...
Lexington Launches Public/Private Partnership Coverage
Aug 5 2008 // Lexington Insurance Company, a unit of AIG Commercial Insurance, announced the launch of “Lex P-3 Solutions SM,” which it described as offering “tailored risk management and insurance products that...
N.Y.’s Tower Group to Acquire Rest of Bermuda’s CastlePoint
Aug 5 2008 // New York-based insurer Tower Group, Inc. has agreed to acquire Bermuda reinsurer CastlePoint in a transaction valued at approximately $490 million. The deal will allow Tower to shift some of its reinsurance to other...
Iowa Lawmakers Say More Disaster Funding Expected
Aug 5 2008 // Three members of Iowa’s congressional delegation say House Speaker Nancy Pelosi has assured them that Congress will provide more disaster-related funding. Reps. Leonard Boswell, Bruce Braley and Dave Loebsack, all...
Funding for Texas Wind Pool a Top Issue for Insurance Industry
Aug 4 2008 // Funding, funding, funding. Those are three most important issues for the Texas Windstorm Insurance Association in advance of the 2009 legislative session, according to one industry lobbyist and advisor. There are other...
Millbrook, Valen Become P/C Insurance Data, Predictive Analytics Partners
Aug 1 2008 // Millbrook Inc., a provider of property/casualty insurance business intelligence and data services, and Valen, predictive analytics experts, have partnered to provide predictive analytics for the property/casualty insurance...
Apex Global Acquires Benefit Partners
Aug 1 2008 // Dallas-based Apex Global Partners Inc. announced it has acquired Benefit Partners and subsidiaries BP Life and Health Insurance Agency, Benefit Partners Financial Services, BP Risk Partners Insurance Agency and...
Brown & Brown Acquires Oregon-based Fullerton & Company
Aug 1 2008 // Florida-based Brown & Brown Inc. announced the stock acquisition of and Fullerton & Company Inc., of Portland, Ore. Fullerton & Company has annualized revenues of approximately $9.3 million, the announcement...
PartnerRe Amends, Extends Equity Forward Sale Agreement; Repurchases 1 Million Shares
Aug 1 2008 // Bermuda-based PartnerRe Ltd. announced that it has amended its existing forward sale agreement. Under the terms of the amendment, half the contract will mature according to its original term on October 28, 2008, while the...
N.J.’s Palisades Acquires Proformance Insurance
Aug 1 2008 // New Jersey’s Palisades Safety and Insurance Association has taken a step to expand beyond auto insurance by acquiring the National Atlantic Holdings Corp., including its subsidiary, The Proformance Insurance...
Brown & Brown Buys Ohio-based Great Lakes Risk Management
Jul 31 2008 // Brown & Brown Inc. announced the asset acquisition of Great Lakes Risk Management Inc., of Toledo, Ohio, by a subsidiary of Brown & Brown. Great Lakes Risk Management, with annual revenues of approximately $1...
Zurich Acquires German Insurer
Jul 31 2008 // The Zurich Financial Services Group announced that its subsidiary, Zürich Beteiligungs-AG (Deutschland), has agreed to acquire 100 percent of the private accident insurer Baden-Badener Versicherung AG. Zurich said the...
Acquisitions, Lower Premiums Affect Hilb Rogal & Hobbs Q2
Jul 31 2008 // Richmond, Virginia-based insurance broker Hilb Rogal & Hobbs, which is in the process of being acquired by bigger insurance broker Willis, reported revenues were up 5.3 percent while net income plummeted for the...
Safeco Shareholders Approve Liberty Mutual Merger
Jul 30 2008 // The shareholders of Safeco Corporation (NYSE:SAF) today voted overwhelmingly to approve the merger agreement entered into on April 23, 2008 with Liberty Mutual Group. Of those Safeco shareholders who voted, 99.5 percent...
PartnerRe to Release Q2 Results Today; Conference Call Details
Jul 28 2008 // Bermuda-based PartnerRe Ltd. will release its 2008 second quarter and half year results after the market close today, Monday, July 28. PartnerRe senior management will conduct a dial-in conference call, which will include...
Max Capital to Acquire Imagine’s Lloyd’s Vehicle
Jul 25 2008 // Max Capital Group Ltd. reports it has agreed to acquire Imagine Group (UK) Limited, a Lloyd’s insurance operation, from Imagine Insurance Co. Limited (“Imagine”). The agreement also includes the...
Arthur J. Gallagher Acquires Tennessee-based Gale Smith & Co.
Jul 24 2008 // Itasca, Ill.-based Arthur J. Gallagher & Co. acquired Gale Smith & Company, Inc. of Brentwood, Tennessee. Terms of the transaction were not disclosed. Established in 1868, Gale Smith & Co. is a retail...
Cypress Premium Funding Appoints Castro Director of Sales
Jul 24 2008 // Rudy Castro was appointed director of sales for Cypress Premium Funding Inc. His expanded role will lead development of new business relationships as well as oversee future marketing campaigns.
Price a Sticking Point for Bermuda Insurers Looking to Buy Entry into Lloyd’s Market
Jul 23 2008 // A handful of Bermuda insurers see an opportunity to expand their horizons by entering the Lloyd’s of London insurance market, but their interest of late has waned as prices of potential target companies have...
