Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Gesick Named PartnerRe Chief Actuarial Officer
Dec 17 2007 // Bermuda-based PartnerRe Ltd. announced that Eric Gesick has been appointed as PartnerRe’s Group Chief Actuary. He will be based in Bermuda and report to the Group’s CEO, with “overall responsibility for...
Aon Sells Combined to ACE for $2.4 Billion; Sterling to Munich Re
Dec 17 2007 // Bermuda-based ACE Limited and Germany’s Munich Re have both signed deals with Aon to purchase part of the international broker’s insurance activities. ACE is buying accident and health provider Combined...
Munich Re to Acquire Aon’s Healthcare Insurer Sterling for $352 Million
Dec 17 2007 // Munich Re is also buying a slightly smaller piece of Aon (See previous article). The world’s second largest reinsurer announced that it has concluded an agreement with Aon to acquire 100 percent of Sterling Life...
S.H. Smith Acquires Firm and Opens Philadelphia Office
Dec 17 2007 // Philadelphia, PA – December 17, 2007 – S. H Smith & Co., Inc., a national, independently owned wholesale insurance broker, managing general agency and program administrator, has acquired SecureRisk...
Gallagher Acquires 38.5% Stake in Jamaica’s CGM Group
Dec 17 2007 // Arthur J. Gallagher & Co. announced that it has acquired a 38.5 percent equity interest in CGM Group Limited, headquartered in Kingston, Jamaica. Terms of the transaction were not disclosed. CGM, which started in...
Japan’s Millea Group to Buy Lloyd’s Kiln for $898 Million
Dec 14 2007 // The boards of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), the main operating companies of Japan’s Millea Group, and Bermuda-based Kiln Ltd. , a major Lloyd’s insurer, announced that they have...
N.C.-Based BB&T Insurance Services to Acquire Georgia Agency
Dec 13 2007 // BB&T Insurance Services announced plans to expand its metro Atlanta operation with the acquisition of Ott & Co. of Alpharetta, Ga. Founded in 1978, Ott & Company is a full-service employee benefits brokerage...
Maine’s Hyler Agency is Northeast Bank’s 6th Acquisition Within Year
Dec 12 2007 // Maine’s Northeast Bank Insurance Group, Inc., a wholly-owned subsidiary of Lewiston-based Northeast Bank, continues to grow its footprint in Maine, this time in Thomaston, with the purchase of Hyler Agency. The Hyler...
Allied World to Buy Converium’s U.S. Reinsurance Operations
Dec 11 2007 // Bermuda-based Allied World Assurance Company Holdings, Ltd. announced that its U.S. holding company has entered into an agreement to purchase Converium Insurance (North America), Inc., a New Jersey domiciled...
Emerson, Reid & Co. Acquires Benefitport MidAtlantic
Dec 11 2007 // New York-based Emerson, Reid & Co. said it has acquired N.J.-based general agent BenefitPort MidAtlantic for an undisclosed amount. The acquisition of BenefitPort, which distributes group products to small and large...
ERGO Acquires 65% Stake in Korea’s Daum Direct Auto
Dec 10 2007 // German insurer ERGO, Munich Re’s primary insurance subsidiary, announced that it has reached an agreement with Daum Communications and LIG Insurance to purchase a 65 percent stake in the South Korean monoline insurer...
Gates Foundation Partners with Labor Organization for Microinsurance
Dec 10 2007 // The Geneva-based International Labor Organization has announced a partnership with the Bill & Melinda Gates Foundation that aims to develop new kinds of insurance and improve existing products to promote decent work...
AmTrust Agrees to Acquire Unitrin’s Business Insurance Unit
Dec 10 2007 // Unitrin, Inc. reports it has worked out an agreement to sell its Unitrin Business Insurance unit to AmTrust Financial Services, Inc. in a cash transaction. Terms were not disclosed. Unitrin had previously announced in...
Edgewood Partners Appoints Johnson Senior VP
Dec 10 2007 // San Mateo, Calif.-based Edgewood Partners Insurance Center has hired Jim Johnson as senior vice president. He will be responsible for new business production, renewal business retention, co-managing of Carrier Relations,...
Endurance Closes ARMtech Acquisition
Dec 10 2007 // Bermuda-based Endurance Specialty Holdings Ltd. announced the closing of the acquisition by Endurance US Holdings Corp. of ARMtech Insurance Services, Inc. and its affiliates (See IJ web site –...
Arthur J. Gallagher & Co. Acquires La.’s Powell Insurance Agency
Dec 7 2007 // Illinois-based Arthur J. Gallagher & Co. announced the acquisition of Powell Insurance Agency Inc. in Metairie, La. Terms of the transactions were not disclosed. Established in 1948, Powell Insurance Agency offers...
AXA Buys Ohio’s Matrix
Dec 6 2007 // AXA Corporate Solutions announced from Paris that it has acquired the consulting firm Matrix Risk Consultants Inc., based in Miamisburg, Ohio. It described the deal as part of a move to strengthen “its capacity to...
China’s CNinsure to Acquire Majority Stake in Insurance Adjuster
Dec 6 2007 // CNinsure Inc., an independent insurance agency and brokerage company operating in China, has announced the signing of definitive agreements to acquire a 60 percent stake in Guangdong Fangzhong Insurance Surveyors &...
BMS Group Acquires Property/Casualty Team in Minn.
Dec 6 2007 // Global reinsurer BMS announced today that it has acquired a P/C brokerage team based in Minneapolis. The nine member team is led by senior brokers Jim Brost and Mike Joyce. “The acquisition of this team boosts our...
Brown & Brown Buys N.J.’s Dalton Insurance Agency
Dec 6 2007 // A subsidiary of Florida-based insurance agency Brown & Brown, Inc. has acquired Dalton Insurance Agency, LLC, of Glassboro, N.J. Dalton Insurance Agency, with annualized revenues of approximately $2.5 million, is a...
