Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Best Withdraws Insurance Corp. of Newfoundland Rating Due to Merger
Mar 19 2007 // A.M. Best Co. has withdrawn the financial strength rating (FSR) of “B++” (Good) and assigned a category of “NR-5” (Not Formally Followed) to Canada’s Insurance Corporation of Newfoundland...
AXA to Buy Korean Direct Auto Insurer
Mar 19 2007 // France’s Axa Group announced that it has reached an agreement with Kyobo Life to acquire its 75 percent stake in Kyobo Auto, a major South Korean direct automobile insurer. The announcement did not state the purchase...
Arthur J. Gallagher Acquires Florida Life Wholesaler, The Producer’s Choice
Mar 15 2007 // Arthur J. Gallagher & Co. has acquired The Producer’s Choice, Inc. of Coral Springs, Florida. Terms of the transaction were not disclosed. Founded in 1992, The Producer’s Choice, Inc. is a managing general...
C.V. Starr Creates Global Accident, Health Unit; Partners with Chubb
Mar 15 2007 // Complementing its existing areas of specialty businesses, C. V. Starr & Co., Inc. has organized a global accident and health company. To be headquartered in Greenwich, Conn., Starr Global Accident & Health...
Beazley Acquires Health Care Specialist Sapphire Blue
Mar 13 2007 // Beazley Group has agreed to acquire Sapphire Blue, an agency specializing in professional liability insurance for U.S. health care institutions, particularly long term care facilities. The transaction significantly...
Catlin’s 2006 Results Rise on Wellington Acquisition
Mar 12 2007 // Catlin Group Limited announced financial results for the year ended December 31, 2006 that exceeded the expectations of most analysts. The Bermuda-based Company not only managed to smoothly absorb its acquisition of...
Flexpoint Partners Acquires Pa.’s Norwich Group
Mar 9 2007 // Flexpoint Partners, LLC acquired a majority interest in Rosemont, Pa.-based Norwich Group, Inc. and its affiliated companies via a newly formed holding company. Norwich develops, implements and administers commercial...
Okla.’s Oden Insurance Services Acquired by Thomson Corp.
Mar 9 2007 // The Thomson Corporation, based in Eagan, Minn., announced the acquisition of Tulsa, Okla.-based Oden Insurance Services Inc., a provider of insurance compliance and advisory information and workflow tools. Oden will be...
The Hartford Sells Medical Stop Loss Business to UnitedHealth Unit
Mar 7 2007 // The Hartford Financial Services Group, Inc. has agreed to sell its medical stop loss insurance business to National Benefit Resources, Inc. (NBR), a subsidiary of UnitedHealth Group, Inc. The transaction is expected to...
Zurich’s Farmers Group to Buy U.S. Auto Insurer Bristol West
Mar 5 2007 // Swiss insurer Zurich Financial Services AG said Friday that an American subsidiary intends to buy Bristol West Holdings Inc. for around $712 million, helping to beef up the Swiss insurer’s U.S. operations. Bristol...
Unitrin Acquiring Personal Lines Insurer Merastar for $45 Million
Mar 5 2007 // Unitrin, Inc. reports that its subsidiary, Trinity Universal Insurance Co., is buying Merastar Insurance Co. certain of its affiliates in a cash transaction valued at approximately $45 million. Merastar Insurance is based...
Two Giant Glass Repair Firms Become One as Belron Acquires Safelite
Mar 5 2007 // Belron S.A., a large vehicle glass repair and replacement company, has completed its acquisition of another, Safelite Group Inc. According to Dan Wilson, president and chief executive officer.f the new joint organization...
Mich. Brown & Brown Acquires Alcos
Mar 1 2007 // Brown & Brown, Inc. and Alcos, Inc., headquartered in Sterling Heights, Mich., today announced the completion of the previously announced acquisition by Brown & Brown, Inc. of Alcos, Inc. Alcos, with annualized...
ICAP and JLT Announce Joint Venture
Feb 28 2007 // ICAP plc, a leading interdealer broker, and UK-based broker Jardine Lloyd Thompson have agreed to establish a joint venture company owned equally by the two groups. They plan to “operate in areas where the market for...
U.S. Risk Acquires E.M. Morrow Agency
Feb 27 2007 // U.S. Risk Insurance Group Inc. has expanded its California operations by acquiring E.M. Morrow Insurance General Agency Inc., in Oakland, Calif. E.M. Morrow has served the California property and casualty market for 30...
Stock prices mixed; middle market M&As remain active
Feb 26 2007 // Stock Prices: Brokers’ stock prices were mixed as 2006 came to a close. The two largest brokers did not fare well in 2006 as Marsh & McLennan Company Inc.’s (NYSE:MMC) stock was down 1.2 percent for the...
Stock prices mixed; middle market M&As remain active
Feb 25 2007 // Stock Prices: Brokers’ stock prices were mixed as 2006 came to a close. The two largest brokers did not fare well in 2006 as Marsh & McLennan Co. Inc.’s (NYSE:MMC) stock was down 1.2 percent for the year...
M.J. Hall & Company Acquires Cravens, Leffler & McCormick
Feb 21 2007 // M.J. Hall & Co. based in Stockton, Calif., has acquired the Walnut Creek, Calif.-based Cravens, Leffler & McCormick’s book of insurance business in an asset purchase effective Feb. 1, 2007. Cravens, Leffler...
SCOR Acquires 32.9% of Converium; Makes Unsolicited Bid; S&P Comments
Feb 19 2007 // France’s SCOR Group announced that it has acquired 32.9 percent of the share capital of Swiss-based reinsurer Converium Holding AG. SCOR said it “strongly believes that the combination of Converium and SCOR is...
PHLY’s Maguire Buys Renewals of Calif. Agency Targeting Fitness Industry
Feb 16 2007 // Maguire Insurance Agency, Inc., a subsidiary of Philadelphia Consolidated Holding Corp (PHLY), has purchased the renewal rights to the policies issued through the Fitness and Wellness Insurance Agency of Solana Beach,...
