Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
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...
Commerzbank Poised to Buy Allianz’s Dresdner Bank Subsidiary
Aug 29 2008 // Allianz SE is set to sell control of Dresdner Bank to Commerzbank AG, a source with direct knowledge of the matter said on Friday. The deal would fuse Germany’s second and third largest banks. Taking over Dresdner,...
Employers Holdings Amends Merger Deal with AmCOMP over Florida Refunds
Aug 29 2008 // Reno, Nev.-based Employers Holdings Inc. has agreed to an amendment to the terms of its pending acquisition of AmCOMP Inc. that accounts for a regulatory ruling requiring policyholder refunds in Florida. In connection with...
AIG Buys 18% Stake in China’s MicroCred Nanchong
Aug 28 2008 // American International Group has acquired 18 percent of MicroCred Nanchong, China (MNC). The deal also gives AIG the exclusive right to sell micro insurance to MNC clients for two years. “MNC is the first wholly...
Willis Launches So. Africa M&A Practice
Aug 27 2008 // Willis Group Holdings has launched a new Mergers & Acquisitions (M&A) Practice in South Africa “to serve the insurance brokerage and risk management needs of the burgeoning private equity sector and local...
Tower and CastlePoint to Acquire Hermitage Insurance for $135M
Aug 27 2008 // Tower Group, Inc. and CastlePoint Holdings, Ltd. announced today that CastlePoint Reinsurance Co., Ltd., a Bermuda-based subsidiary of CastlePoint, has agreed to acquire HIG, Inc. Bermuda-based CastlePoint said it will pay...
Darwin to Buy Great American’s Lawyers Professional Liability Business
Aug 26 2008 // Farmington, Connecticut-based Darwin Professional Underwriters, Inc. reports it will acquire renewal rights to Great American’ Insurance Co.’s roughly $20 million of small, standard market lawyers professional...
Cherry Creek Insurance Agency Acquires Montana’s Hanes Hathaway
Aug 25 2008 // Denver-based Cherry Creek Insurance has acquired Montana-based Hanes Hathaway Inc., a specialty agency that focuses on coverage and risk exposures for technology related firms.As part of the acquisition, Cherry Creek will...
Edgewood Partners Insurance Center Opens San Francisco Office.
Aug 22 2008 // In an expansion of its California operations, Edgewood Partners Insurance Center (EPIC), a retail property, casualty and employee benefits insurance brokerage, opened an office in San Francisco. The San Francisco office...
Aon to Acquire Broker Benfield for $1.75 Billion
Aug 22 2008 // Chicago-based Aon Corporation and UK-based broker Benfield Group Limited announced that their respective boards of directors have reached agreement for Aon to acquire Benfield for £3.50 ($6.55) per share in cash and...
Soft Market Hammers Commercial Carriers’ Stocks; M&As Active in Personal Lines Sector
Aug 21 2008 // Stock Prices: The soft market continues to have an effect on insurers’ stock prices. With the inability of insurers to grow in the current market, commercial insurers’ stocks are still falling, down 18 percent...
Gallagher Acquires Wm. W. George & Associates of Dallas
Aug 20 2008 // Arthur J. Gallagher & Co. reported it has acquired Dallas-based retail insurance broker Wm. W. George & Associates Inc. Terms of the transaction were not disclosed. Established in 1972, Wm. W. George &...
Brown & Brown Acquires Pa.’s Advanced Insurance Concepts
Aug 19 2008 // The assets of Advanced Insurance Concepts, Inc. , of Bensalem, Pennsylvania, has been acquired by a subsidiary of Florida-based Brown & Brown, Inc. Advanced Insurance Concepts, with annual revenues of approximately $2...
Insurance Specialty Group Acquires E.L.M. Insurance Brokers
Aug 19 2008 // Insurance Specialty Group LLC has completed its acquisition and merger with E.L.M. Insurance Brokers Inc. of El Segundo, Calif. The company said the combined company will be a “$150 million marketing...
Angelo Joins OneBeacon Professional Partners
Aug 18 2008 // Canton, Massachusetts-based OneBeacon Professional Partners has appointed Susan Angelo senior vice president of managed care. In her new role, Angelo will oversee all product, business development and underwriting...
Zurich Closes Acquisition of 50% Stake in Spain’s Caixa Sabadell
Aug 15 2008 // Zurich Financial Services Group announced that it has completed the acquisition of a 50 percent stake in Spain’s Caixa d’Estalvis de Sabadell’s (Caixa Sabadell) life and general insurance companies,...
