Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Max Cap to Buy U.S. Admitted Insurer
Mar 17 2008 // Max Specialty Insurance Company, of Richmond, Virginia, the U.S. excess and surplus lines unit of the Bermuda-based Max Capital Group Ltd., announced that it has agreed to acquire a U.S.-based admitted insurance company...
Arthur J. Gallagher Acquires Oklahoma’s Bankers Financial Benefits
Mar 14 2008 // Arthur J. Gallagher & Co. announced it has acquired Bankers Financial Benefits of Oklahoma City, Okla. Terms of the transaction were not disclosed. Established in 2001, Bankers Financial Benefits offers employee...
Bill to Increase Funding for Road Repair Passes Oklahoma House
Mar 14 2008 // Citing a new national study showing that major roads in Oklahoma’s metro centers are among the worst in the U.S., State Rep. Mike Thompson announced that House Bill 3342 – which would require that all car tag...
N.J.’s Palisades Insurance Acquiring National Atlantic, Proformance
Mar 13 2008 // A subsidiary of Palisades Safety and Insurance Association reported that it plans to acquire National Atlantic Holdings Corp., including its subsidiary, The Proformance Insurance Co. Under the terms of the agreement, each...
Zurich Services Corp. Partners with OSHA Fast Fix for Workplace Safety
Mar 13 2008 // Schaumburg, Ill.-based Zurich Services Corp.’s risk engineering division recently announced that it is collaborating with OSHA Fast Fix to help Zurich customers improve workplace safety, address the causes of...
Best Affirms Nationwide Financial’s Ratings; Comments on Acquisition
Mar 12 2008 // As indicated in the previous article (See above), A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of the core...
North Carolina’s Global Risk Holdings Acquires North American Risk
Mar 12 2008 // Raleigh, N.C.-based Global Risk Holdings acquired Maitland, Fla.-based North American Risk Services from Clarendon National Insurance Co., according to NARS officials. Global Risk Holdings, in conjunction with members of...
Cayman Islands Investment Group Aims to Acquire Washington Insurer
Mar 11 2008 // Washington’s Office of the Insurance Commissioner has scheduled a March 19, 2008, hearing to consider an investment group’s request to acquire a controlling interest in a Bellevue, Wash.-based property-casualty...
Brunning Named Sr. VP, Regional Partner for Willis Group of Louisiana
Mar 6 2008 // Willis Group Holdings has appointed Nigel Brunning as senior vice president and regional partner for Willis of Louisiana Inc., the company announced. Brunning’s responsibilities include branch management of...
AXA UK Offers to Acquire SBJ Group
Mar 5 2008 // AXA Advisory Holdings announced that it has made a formal offer to purchase 100 percent of the share capital of SBJ Group. The offer has been unanimously recommended by the Board of SBJ and will be submitted to its...
CNinsure Acquires 60% Stake in Liaoning Gena
Mar 4 2008 // Chinese independent broker CNinsure Inc. announced the acquisition of a 60 percent stake in Liaoning Gena Insurance Agency Co., Ltd., thereby extending its market presence to Liaoning Province in northeast China. Earlier...
Argo Group’s Trident Buys New England’s Massamont Agency
Mar 4 2008 // Trident Insurance Services, a unit of specialty insurer Argo Group International Holdings Ltd., reports it has acquired Massachusetts-based Massamont Insurance Agency, Inc., which specializes in insurance programs for...
Wells Fargo Acquires Insurance Brokers of America in St. Louis
Feb 28 2008 // Wells Fargo Insurance Services, Inc., a bank-owned insurance brokerage and a subsidiary of Wells Fargo & Co., reports it has acquired St. Louis-based Insurance Brokers of America (IBA). IBA partners Robert Concannon,...
Public Broker Stocks Down in Dec. as 2007 Closes With 205 M&A Deals
Feb 24 2008 // Stock Prices: Brokerage stocks mimicked the overall uneasiness of the stock market during January. Hilb Rogal & Hobbs (NYSE:HRH) traded down 11.2 percent while Arthur J. Gallagher traded up 5 percent. Overall the...
For Anglo-Dutch Reed, Insurance is ‘Jewel’ in Acquisition of ChoicePoint
Feb 21 2008 // Reed Elsevier announced the acquisition of U.S. risk-management business ChoicePoint Inc for $4.1 billion, including debt, and said it would intensify a cost-saving drive and sell an advertising-dependent information...
Meadowbrook to Acquire Specialty Insurer ProCentury in $273M Deal
Feb 21 2008 // Michigan-based Meadowbrook Insurance Group, Inc. reported it will acquire ProCentury Corp. in a transaction valued at approximately $272.6 million in cash and stock to be paid to ProCentury shareholders. Under the terms of...
Arthur J. Gallagher Acquires Houston-based Leicht General Agency
Feb 20 2008 // Ill.-based Arthur J. Gallagher & Co. announced that its subsidiary, Risk Placement Services Inc., acquired Leicht General Agency, headquartered in Houston. Terms of the transaction were not disclosed. Established in...
Rating Agencies React to AXA’s Acquisition of ING Seguros
Feb 19 2008 // A.M. Best Co. and Standard & Poor’s Ratings Services have taken slightly different views of France’s AXA Group’s agreement to purchase 100 percent of the share capital of the ING Group’s...
Conn. to Hold Hearing on PXRE Acquisition
Feb 19 2008 // The Connecticut Insurance Department said it will hold a public hearing later this month on the proposed acquisition of PXRE Reinsurance Co. by U.K.-based Tawa. Tawa announced the plans to acquire the company from...
Arthur J. Gallagher Acquired Utah’s Taylor Benefits
Feb 19 2008 // Arthur J. Gallagher & Co. acquired Taylor Benefits located in Holladay, Utah. Terms of the transaction were not disclosed. Doug Taylor and his associates will continue to operate in their current location under the...
