Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Arthur J. Gallagher to Acquire Pa.-Based Yanni Partners
Nov 16 2007 // Arthur J. Gallagher & Co. has signed a definitive agreement to acquire Yanni Partners Inc. of Pittsburgh, Pa. Terms of the transaction were not disclosed. The transaction is expected to close before Jan. 31,...
Maine’s Northeast Bank Insurance to Buy Spence & Matthews
Nov 14 2007 // Northeast Bank Insurance Group, Inc., a wholly owned subsidiary of Lewiston, Me.-based Northeast Bank, has agreed to purchase Spence & Mathews Insurance. The deal is slated to close on November 30, 2007. Founded in...
Wells Fargo to Acquire El Paso Agency
Nov 14 2007 // Wells Fargo Insurance Services Inc. reported it will acquire Rogers & Belding Insurance Agency Inc., a single-office agency in El Paso, Texas, and its subsidiaries. Terms of the transaction were not disclosed. Rogers...
Marquis Agency Acquires N.Y.-Based Lucas & Dake
Nov 12 2007 // The Marquis Agency of Woodbridge, N.J., acquired Lucas & Dake Co. Inc. of Rochester, N.Y. The new agency will be called Marquis Lucas Dake. Terms of the transaction were not disclosed. The Marquis Agency is a...
Hull & Co. Acquires McFall General Agency’s Assets
Nov 12 2007 // Hull & Co. Inc. has acquired the aseets of McFall General Agency Inc., which has offices in Portland, Ore., and Gig Harbor, Wash. Bob McFall, who founded MGA in 1981 and currently serves as president,, will remain...
Beale Joins Zurich as Merger/Acquisition-Transformation Management Head
Nov 9 2007 // Zurich Financial Services Group announced that Inga Beale (44) will join the company as Head of Organizational Transformation Management and Mergers & Acquisitions as of January 1, 2008. She will also become a member...
Hub International Acquires Diversified Risk Insurance Brokers
Nov 8 2007 // Chicago-based Hub International Ltd.’s California subsidiary has acquired FLF Inc. d/b/a Diversified Risk Insurance Brokers Inc. (DRIB), a northern California-based insurance brokerage. DRIB’s operation in...
Alabama-Based Alfa Mutual to Buy Rest of Alfa Corp. for $840 Million
Nov 8 2007 // Life insurance company Alfa Corp. has agreed to be acquired by its majority owners, Alfa Mutual Insurance Co. and Alfa Mutual Fire Insurance Co., for about $840 million. Alfa Mutual will pay $22 per share for shares of...
Montpelier Re Completes U.S. Surplus Lines Acquisition
Nov 6 2007 // Bermuda-based Montpelier Re Holdings Ltd. announced that Montpelier US, its Hartford-based subsidiary, has completed the purchase of a US Excess & Surplus lines insurance company after receiving regulatory approval...
Ironshore Acquires US Admitted Shell
Nov 5 2007 // Bermuda-based Ironshore Inc. announced that Ironshore Holdings (U.S.) Inc., the company’s US subsidiary, has completed the acquisition of Stockbridge Insurance Company, a US-based admitted insurance company, from...
Hub Acquires Elevator Insurance Specialist JM Associates in N.J.
Nov 5 2007 // Chicago-based insurance broker Hub International Limited reported that its New York subsidiary has acquired the assets of JM Associates, Ltd. (JM), an agency that has specialized in providing casualty insurance for the...
Brown & Brown Acquires New Orleans Agency
Nov 5 2007 // Brown & Brown Inc. has acquired Independent Insurance Associates Inc. of New Orleans, La., according to a joint announcement released by the two companies. Independent Insurance Associates is a commercial property and...
Edgewood Partners Makes Hires in Orange County, San Francisco
Nov 5 2007 // San Mateo, Calif.-based Edgewood Partners Insurance Center has named Abe Gottesman senior vice president for its Orange County, Calif., ofice. Gottesman will produce and manage mid-market to large national and global...
10 Calif. DOI partners with CAL FIRE
Nov 4 2007 // Groups aim to prevent fire losses during height of wildfire season 10 Hawaii approves 19.3% workers’ comp decrease NCCI recommended 16.8 percent drop 10 Calif. approves AAA’s 6.5% auto rate reduction Carrier...
Commercial insurers stock prices, M&A activity flat in third-quarter 2007
Nov 4 2007 // Stock Prices: Commercial property/casualty insurer stocks have been relatively flat through the third quarter of 2007. Chubb Corp. (NYSE:CB) had the largest gains for the year, up a modest 3 percent. M&A Activity: The...
Munich Re’s ERGO in Joint Venture with Indian Insurer HDFC Ltd.
Nov 2 2007 // In a joint statement Indian housing finance pioneer HDFC Ltd. and Germany’s ERGO (Munich Re’s primary insurance division) announced that they have agreed to form a general insurance joint venture. The...
Best Sees No Change in Mapfre Ratings from Commerce Acquisition
Nov 2 2007 // A.M. Best Co has commented that the issuer credit rating (ICR) of “a” of Mapfre S.A. (formerly Corporacion Mapfre S.A., the holding company of Spain’s Mapfre Group) “remains unchanged following the...
Mapfre Cites Hispanic Insurance Market Potential Behind Commerce Acquisition
Nov 1 2007 // The potential of the Hispanic insurance market is one of the factors attracting Spanish insurer Mapfre to its acquisition of the Massachusetts-based personal lines writer Commerce Group. Mapfre officials calculate that...
S&P Affirms Commerce, Mapfre Ratings; Few Concerns Over Merger
Oct 31 2007 // Standard & Poor’s Ratings Services said today that it affirmed its ‘BBB’ counterparty credit rating on Commerce Group Inc. and its ‘A’ counterparty credit and financial strength ratings...
Munich Re Acquires UK’s MSP Underwriting/Stake in Syndicate 318
Oct 30 2007 // Munich Re is acquiring the UK Company MSP Underwriting Ltd. for a figure it said is in the “mid double-digit million Euro range.” MSP Underwriting Ltd. owns both the Lloyd’s managing agency Beaufort...
