Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
EMC Agencies to WebLink From SIS SEMCI Partner
May 19 2003 // Strategic Insurance Software, Inc. (SIS) announced the certification of Des Moines, Iowa-based EMC Insurance Companies for WebLink with their SEMCI Partner agency management system. According to SIS, WebLink enables...
ING Sells 49% Stake in Seguros Bital to HSBC
May 19 2003 // The Netherlands ING Group announced that it is selling its 49% shareholding in Mexico’s Seguros Bital to Grupo Financiero Bital, S.A., a wholly owned subsidiary of HSBC Holdings, plc. for $148 million. The...
INVESTOR GROUP TO BUY REPUBLIC:
May 19 2003 // The Republic Group of Insurance Companies (Republic), of Dallas, announced that a private investor group has agreed to purchase Republic from Winterthur U.S. Holdings Inc. and certain other subsidiaries of Credit Suisse...
The Hartford Sells its P/C Reinsurance Business to Endurance Specialty
May 16 2003 // The Hartford Financial Services Group Inc., has sold most of its property-casualty reinsurance business to Bermuda-based Endurance Specialty Holdings Ltd. The transaction includes the sale of renewal rights for existing...
InsBridge, Systems Consulting Services Form Partnership
May 15 2003 // Plano, Texas-based InsBridge Inc. and Systems Consulting Services Inc. (SCSI), of Ellicott City, Md., providers of software solutions to the property and casualty (P&C) insurance industry, announced they are forming a...
Republic to be Acquired by Private Investor Group
May 13 2003 // The Republic Group of Insurance Companies (Republic), of Dallas, announced that a private investor group has agreed to purchase Republic from Winterthur U.S. Holdings Inc. and certain other subsidiaries of Credit Suisse...
CRC Insurance Services to Acquire Southern Cross Underwriters
May 12 2003 // CRC Insurance Services Inc. of Winston-Salem, N.C., the wholesale insurance subsidiary of Branch Banking and Trust Company, today said it plans to buy Jackson, Miss.-based insurance wholesaler Southern Cross Underwriters...
Winterthur to Sell Republic to Investor Group Led by Wand Partners
May 12 2003 // Winterthur, the insurance subsidiary of Credit Suisse Group, announced today that it is selling the Republic group of companies, its regional operation in the Southwestern U.S., for $127 million to a group of American...
PartnerRe Completes Offering of Series C Preferred Shares; Will Redeem Series A
May 12 2003 // Bermuda’s PartnerRe Ltd. announced that it has completed its offering of its Series C Cumulative Preferred Shares, resulting in net proceeds to the Company of $251.8 million. “The Series C Shares will trade on...
The St. Paul Cos. Acquires Renewal Rights for Selected Lines of Kemper’s U.S. Commercial Business
May 12 2003 // The St. Paul Companies has purchased the right to seek renewal of certain existing commercial insurance business written by the Kemper Insurance Companies in the United States. Under the agreement, The St. Paul will obtain...
Old National Acquires Evansville Agency
May 7 2003 // Old National Bancorp announced that it has closed the deal to acquire the James L. Will Insurance Agency Inc. of Evansville, Ind.. Old National is headquartered in Evansville. James L. Will Insurance Agency, which focuses...
$171 Million Capital Gain for Swiss Re on PartnerRe Sale
May 7 2003 // Swiss Re will sell its remaining 8.3 million shares in Bermuda’s PartnerRe, around 16 percent of the company’s total shares, on the open market, pursuant to a registration statement with the Securities and...
Charter Partners USA Chooses INSTEC Software
May 6 2003 // Charter Partners USA, Inc. has selected INSTEC, commercial property and casualty software provider, to provide a 50-state rating and policy administration system. INSTEC’s planned solution includes multiple...
PartnerRe Reports $124.6 Million Q1 Net Income
May 6 2003 // Bermuda-based PartnerRe Ltd., reported excellent first quarter results with net income of $124.6 million, or $2.23 per share on a fully diluted basis, compared to net income for the first quarter of 2002 of $63.3 million...
American Wholesale Insurance Group Acquires Seaboard Underwriters Inc.
May 2 2003 // American Wholesale Insurance Group (www.amwins.com) has completed the acquisition of Seaboard Underwriters, Inc., a provider of insurance solutions for the transportation industry. Seaboard operates as a managing general...
Hilb, Rogal and Hamilton Acquires NJ’s Aaron Wolf Agency
May 2 2003 // Virginia-based Hilb, Rogal and Hamilton Company, the world’s tenth largest insurance and risk management intermediary, announced that it has acquired the book of business of The Aaron Wolf Agency, Inc. of Vineland,...
Ins. Auto Auctions Acquires Utah’s Mountain States Salvage Pool
May 1 2003 // Insurance Auto Auctions Inc., a provider of automotive salvage and claims processing services in the United States, announced the acquisition of Mountain States Salvage Pool located in Ogden, Utah. Situated just north of...
BancorpSouth to Acquire Louisiana Agency
May 1 2003 // BancorpSouth Inc. announced that it has reached an agreement in principle to acquire certain assets of WMS, L.L.C., of Baton Rouge, which operates under the name of Wright & Percy Insurance. Terms of the acquisition...
Swiss Re Asks PartnerRe to Register Shares for Sale
Apr 30 2003 // Bermuda’s PartnerRe Ltd. announced that it has received a notice of exercise of rights from Swiss Re under the terms of the Registration Rights Agreements between PartnerRe Ltd. and Swiss Re. PartnerRe said it...
PartnerRe Previews Q1 Results; to Redeem Preferred Shares
Apr 29 2003 // Bermuda-based PartnerRe Ltd. announced that it expects to report first quarter diluted net income per share between $2.20 and $2.24 and diluted operating earnings per share between $1.48 and $1.52. The estimates meet, or...
