Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Hull & Co. Acquires Gray-Stone’s Stockton, Calif. Office
Nov 26 2002 // Richard Hull, chairman and CEO of Hull & Company Inc., and Howard Stone, president of Gray-Stone & Company, recently announced the sale of Gray-Stone’s Stockton, Calif. office to Hull &...
INMG.OB Cancels Self-Tender Offer, Merger Agreement
Nov 25 2002 // Insurance Management Solutions Group Inc. of St. Petersburg, Fla. (INMG.OB), which provides business process outsourcing solutions to insurance companies and financial institutions, announced today that its Board of...
BNP Buys French Gov’t. Share of Credit Lyonnais for $2.2 Billion
Nov 25 2002 // France’s second largest bank, BNP Paribas, emerged as the winner of a surprise auction by the French government for its 10.9 percent share in Credit Lyonnais (CL), France’s fifth largest bank. Following a...
AXIS to Buy Aon’s Specialty Underwriting Unit
Nov 25 2002 // Following recently-announced plans to exit its specialty insurance underwriting operations, Aon Corporation of Chicago entered an agreement in principle to sell its specialty property and casualty insurance subsidiary,...
Sullivan & Curtis Becomes Partner/Owner of RiskProNet Intl.
Nov 21 2002 // Seattle-based Sullivan & Curtis has become a partner/owner of RiskProNet International Inc., a network of 27 insurance brokers throughout the United States and Canada. Sullivan & Curtis was formed in 1993 by...
Universal Insurance Holdings Lukewarm to Golden Apple’s Proposed Acquisition
Nov 21 2002 // Universal Insurance Holdings Inc. of Miami received correspondence regarding a proposed takeover by Golden Apple Holding Company, a subsidiary of Navigator Ventures Inc. (OTCBB:NVGV), that reportedly seeks to acquire all...
Gallagher Acquires Iowa’s Grandy Pratt Co.
Nov 19 2002 // Arthur J. Gallagher & Co. announced that it has acquired the Grandy Pratt Company, headquartered in Sioux City, Iowa, and their affiliate Grandy Pratt McCoy, Rosenberg and Associates of Des Moines, Iowa. Terms of the...
Golden Apple May Acquire Universal
Nov 19 2002 // Florida-based Golden Apple Holding Company, a wholly owned subsidiary of Navigator Ventures Inc., offered to enter into a ninety day period of exclusive discussion with the Board of Directors of Universal Insurance...
Seibels Bruce Sells Flood Business to The Hartford
Nov 19 2002 // The Seibels Bruce Group Inc. of Columbia, S.C. completed a transaction with The Hartford Financial Services Group Inc., under which The Hartford acquired the right to renew or assume all of Seibels Bruce’s in-force...
CGI to Acquire INSpire’s Key Assets
Nov 15 2002 // CGI Group Inc. (CGI) announced it will acquired certain assets of Fort Worth-based INSpire Insurance Solutions Inc. (INSpire) for US$5.4 million (CDN$8.5 million) in cash. INSpire has revenues of US$26 million (CDN $41...
Axis Specialty to Buy Aon’s P/C Underwriting Unit
Nov 15 2002 // Aon has agreed to sell its Sheffield Insurance Corporation, a specialty property and casualty insurance subsidiary, to Bermuda’s Axis Specialty Limited for an undisclosed price, subject to regulatory approval. Aon...
Brown & Brown Announces Asset Acquisition Of Calif.-based MFC&V Ins Services
Nov 14 2002 // Kenneth D. Kirk, regional executive vice president of Brown & Brown Inc.; Robert Montgomery, CEO, and Susan Rodriguez, president of MFC&V Insurance Services Inc., with offices in Santa Barbara, Lompoc and...
Brown & Brown Completes Asset Acquisition of Cal-Surance Associates
Nov 13 2002 // Brown & Brown Inc. and Chartered Financial Services Corporation, the holding company for Cal-Surance Associates Inc., United Network of Insurance Services Inc., Sterling Reinsurance Intermediaries Inc., and Lancer...
HCC To Acquire St. Paul’s Spanish Operations
Nov 13 2002 // Houston-based HCC Insurance Holdings, Inc. announced that it has reached an agreement to acquire St. Paul España, Compañia de Seguros, S.A., The Spanish P/C operations of the St. Paul Companies, headquartered in...
HCC to Acquire St. Paul Espana
Nov 12 2002 // HCC Insurance Holdings Inc., based in Houston, announced the company has reached an agreement to acquire St. Paul Espana, Compania de Seguros, S.A., a property and casualty insurance company headquartered in Madrid, Spain,...
Summit Global Partners Adds Sr. VP in Boca Raton Office
Nov 12 2002 // International risk and insurance brokerage, and benefits consulting firm Summit Global Partners announced that J. John Simione has joined the Boca Raton, Fla. office as senior vice president. Simione specializes in...
AIG Fund Buys 25% of Indian Coffee Co.
Nov 8 2002 // AIG may not qualify as an international conglomerate quite yet, but if it continues the way it’s going some day it just might. A report from Bangalore, India notes that a $750 million private equity fund run by AIG...
BB&T to Acquire Savannah Agency
Nov 7 2002 // BB&T Insurance Services, based in Raleigh, N.C., announced plans to expand its Georgia operation with the acquisition of Cranman & Company Inc. of Savannah. BB&T would combine Cranman & Company with its...
Hallmark Makes Acquisitions
Nov 5 2002 // Hallmark Financial Services Inc. (Hallmark), a Dallas-based firm that primarily engages in the marketing and financing of non-standard automobile insurance in the Texas, announced it purchased from LaSalle Bank a...
PartnerRe Weathers the Storm: Cuts Q3 Losses, Premiums Up 45%
Nov 4 2002 // Despite loss estimates of around $120 million from this summer’s floods in Germany and Eastern Europe, Bermuda’s PartnerRe had a relatively good third quarter, narrowing its net loss for the three months to...
