Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Millea to buy Skandia Japan Life Unit for $186 Million
Dec 24 2003 // Millea Holdings Inc., Japan’s largest general insurer, announced plans to acquire the Japanese life business of Sweden’s Skandia Insurance Co. for 20 billion yen ($186 million) in early 2004. “By...
FTC Grants Early End to St. Paul/Travelers Merger Review
Dec 24 2003 // The St. Paul Companies and Travelers Property Casualty Corp. announced that the Federal Trade Commission has granted early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act in...
ADP Claims Services Group Announces Agreement to Acquire ABZ
Dec 22 2003 // San Ramon, Calif.-based ADP Claims Services Group, a division of Automatic Data Processing Inc. has entered into a definitive agreement to acquire ABZ Group B.V., a privately held company in the Netherlands, Peter Op de...
AFG Sells Last Shares of Infinity P&C, Nets $35 Million
Dec 18 2003 // Cincinnati, Ohio-based insurer American Financial Group announced today the closing of the sale of its remaining shares in Infinity Property and Casualty Corp. Net proceeds from the sale were $227 million. AFG expects to...
USI Acquires O’Leary-Kientz
Dec 16 2003 // Birarcliff Manor, N.Y.-based USI Holdings Corp. announced it has acquired all the issued and outstanding capital stock of Cincinnati, Ohio-based O’Leary-Kientz, Inc. Established in 1980, O’Leary-Kientz provides...
Alliance, NAII Boards Approve Merger; New Organization Would be Called PCI
Dec 16 2003 // The Board of Directors of the Alliance of American Insurers and the Board of Governors of the National Association of Independent Insurers (NAII) have adopted a resolution approving a merger agreement between the two...
Imagine Completes Greenwich Acquisition; Expands Global Operations
Dec 16 2003 // The Imagine Group announced from its Barbados headquarters that it has completed the acquisition of a two-thirds equity interest in Greenwich Managing Agency at Lloyd’s. The bulletin said Greenwich would be renamed...
Gallagher Acquires Calif. Broker
Dec 15 2003 // Itasca, Ill.-based brokerage giant Arthur J. Gallagher & Co. announced the acquisition of Avery-Hammer Insurance Associates, Inc. of Fresno, California. Terms of the transaction were not disclosed. Founded in 1980,...
HCC to Acquire American Contractors Indemnity Company
Dec 11 2003 // Stephen L. Way, chairman and CEO of Houston-based HCC Insurance Holdings Inc., announced that HCC reached an agreement to acquire Surety Associates Holding Co. Inc. and their subsidiary American Contractors Indemnity...
White Mountains to Acquire Sirius Insurance
Dec 9 2003 // Bermuda-based White Mountains Insurance Group, Ltd. announced that it has entered into a definitive agreement with ABB Ltd. of Switzerland to acquire the Swedish-based Sirius Insurance Group for 3.22 billion SKr. ($437...
Proformance to Acquire MetLife Auto & Home’s Agency Produced N.J. Business
Dec 9 2003 // New Jersey’s Proformance Insurance Company announced that it will acquire the independent insurance agency-produced New Jersey auto and homeowners insurance business of MetLife Auto & Home for $10 million in...
OneBeacon to Acquire Atlantic Mutual’s Commercial Insurance Business
Dec 8 2003 // OneBeacon Insurance Company, a wholly owned subsidiary of White Mountains Insurance Group, Ltd., has signed an agreement in principle to acquire the Atlantic Specialty Insurance Company, a subsidiary of Atlantic Mutual,...
Armstrong/Robitaille Insurance to Acquire Knight Insurance Agency
Dec 4 2003 // UBOC Insurance Inc., a wholly-owned subsidiary of Union Bank of California, N.A., announced that Armstrong/Robitaille Insurance Services has signed a definitive agreement to acquire Knight Insurance Agency....
PMA Capital Sells Finite Reinsurance Renewal Rights to Imagine Group
Dec 3 2003 // Philadelphia-based PMA Capital Corp. announced that its subsidiary, PMA Capital Insurance Company (PMA Re), has executed a definitive agreement with Imagine Insurance Company Limited, to sell the renewal rights to its...
IBC Says Partnerships Are Key in Fight Against Auto Theft
Dec 1 2003 // Insurance Bureau of Canada recently joined with Toronto Police in announcing the initial results from Project Heat (Help Eliminate Auto Theft). In the first three weeks of the latest round of Project Heat, Toronto Police...
Travelers, St. Paul Announce Mega Merger
Dec 1 2003 // In the wake of the “Terminator” taking the helm as California’s new governor, Travelers Property Casualty Corp. and The St. Paul Companies Inc. announced plans to merge, forming the nation’s second...
Travelers, St. Paul Announce Mega Merger Valued at $16.4 Billion
Dec 1 2003 // In the wake of the “Terminator” taking the helm as California’s new governor, Travelers Property Casualty Corp. and The St. Paul Companies Inc. announced plans to merge forming the nation’s second...
Brown & Brown of Texas Acquires Benefit Dynamics
Nov 28 2003 // Michael A. Garguilo, president and chief operating officer of Brown & Brown Insurance Services of Texas Inc., a wholly owned subsidiary of Brown & Brown Inc., announced the asset acquisition of Houston-based...
Hearing to Discuss Proposed Merger of Wash.-based Eagle Pacific Insurance with American Protection Insurance
Nov 26 2003 // The Washington Office of the Insurance Commissioner will hold a hearing Dec. 3, 2003, to consider the proposed merger of Eagle Pacific Insurance Company, a domestic Washington insurer, and American Protection Insurance...
Gallagher Acquires La.-based Babcock Consulting
Nov 24 2003 // Itasca, Ill.-based brokerage giant Arthur J. Gallagher & Co. announced the acquisition of Babcock Consulting Inc. of Metairie, La. Terms of the transaction were not disclosed. Established in 1997, Babcock Consulting...
