Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
AEGON To Issue $1.5 Billion In Stock To Fund J.C. Penney Acquisition
May 31 2001 // Holland’s AEGON N.V. announced that it will issue 55 million new ordinary shares, thereby increasing its capital by around 4 percent, in order to raise an estimated $1.5 billion “to finance the acquisition of...
Acceptance Insurance Companies Inc. Acquires Assets
May 29 2001 // Acceptance Insurance Companies Inc. and IGF Insurance Company came to terms on a definitive agreement for American Agrinsurance and other Acceptance affiliates to buy the crop insurance assets of IGF Insurance Company for...
InsurePoint, nekema.com Announce Merger Plans
May 24 2001 // The property/casualty insurance e-commerce companies InsurePoint and nekema.com announced their intention to merge. The new company will adopt the InsurePoint brand for its insurance offerings and will target the leading...
Winterthur To Buy CGNU’s Belgian P/C Business
May 22 2001 // Winterthur, the insurance arm of Credit Suisse Group, has agreed to purchase CGNU’s Belgian p/c business for €117 million ($102.65 million). The acquisition would make Winterthur the fifth largest Belgian p/c...
Marshall & Swift Merger with E.H. Boeckh and DDS Completed
May 22 2001 // Marshall & Swift, a publisher and source of building cost data and services to the insurance industry, announced the completion of its merger with E.H. Boeckh, a supplier of building cost information, and Digital...
AIG TO BUY AM GEN
May 21 2001 // American International Group Inc. came to an agreement under which it will buy American General Corporation in a estimated $24.6-billion transaction, which was approved by the boards of directors of both companies....
ARGONAUT ACQUIRES FRONT ROYAL
May 21 2001 // In a move to expand its specialty insurance services, Argonaut Group Inc. signed a definitive agreement to acquire Morrisville, N.C.-based Front Royal Inc. for $165 million in cash. Argonaut stated the purchase should add...
ESURANCE, CCCU PARTNER
May 21 2001 // Esurance Inc., a national quote-to claims Internet-based provider of personal automobile insurance, and California Coast Credit Union, one of San Diego’s largest credit unions, formed a partnership to offer its...
ALLSTATE BUYS REPAIR STORES
May 21 2001 // The Allstate Corp. announced its acquisition of Sterling Collision Centers Inc., which operates a network of 39 auto collision repair stores in seven states and nine metropolitan locations. The Sterling brand and...
WELLS FARGO BUYS ACORDIA PARENT
May 21 2001 // Wells Fargo & Company announced the acquisition of ACO Brokerage Holding Corporation, parent company of Acordia Inc. Acordia and Wells Fargo Insurance will be the nation’s fifth largest insurance agency and the...
Citigroup’s Acquisition of Mexico’s Banacci Affects Insurers
May 18 2001 // Yesterday’s announcement that Citigroup will acquire Mexico’s second largest financial group, Grupo Financiero Banamex Accival, popularly known as “Banacci,” for $12.5 billion in cash and stock,...
CNA Forms Alliance with Ambridge Partners For TFI Products
May 17 2001 // CNA Global Specialty Lines, a unit of Chicago’s CNA, based in New York, announced an alliance with London’s Ambridge Partners LLC, described as “a highly specialized managing general underwriter for...
BISYS Acquires Insurance Exchange of America
May 16 2001 // BISYS announced the acquisition of The Insurance Exchange of America Inc. (IXA), a New Jersey-based insurance brokerage firm, currently supporting more than 3,000 insurance producers with an array of sales programs and...
Prudential (U.K.), Other Europeans Seeking U.S. Acquisitions
May 16 2001 // Enriched by the $600 million it received as a break up fee from AIG-American General, Britain’s Prudential plc is still looking for opportunities to expand in the U.S. market, but it’s not alone. According to...
Allstate Acquires Sterling Collision Centers
May 15 2001 // The Allstate Corporation recently announced it has acquired Sterling Collision Centers Inc., which operates a network of 39 auto collision repair stores in seven states and nine metropolitan locations. According to George...
CFS to Acquire Lundeberg Insurance
May 11 2001 // CFS Insurance Agency, Inc. (CFS Insurance), a wholly owned subsidiary of Citizens Financial Services, FSB (Citizens), agreed to acquire Lundeberg Insurance Associates, Inc. (Lundeberg Insurance) of Highland, Indiana...
Insurance Auto Auctions Acquires Albuquerque Facility
May 11 2001 // Insurance Auto Auctions (IAA) Inc., providing insurance companies with turnkey solutions to process and sell total-loss and recovered-theft vehicles, acquired a greenfield facility in Albuquerque, N.M. The new facility...
Argonaut Acquires Front Royal
May 9 2001 // In a move to expand its expand its specialty insurance services, Argonaut Group Inc. signed a definitive agreement to acquire Morrisville, N.C.-based Front Royal Inc., for $165 million in cash. According to a Reuters...
ING In Talks to Acquire Majority Stake in Segcoam
May 8 2001 // Holland’s ING Group is in talks with Savia, Mexico’s troubled financial services and technology group, to acquire its controlling interest in Seguros Comercial America, Mexico’s largest insurance...
PartnerRe Q1 Net Income Dips as Premiums Rise
May 8 2001 // Bermuda’s PartnerRe Ltd. reported net operating earnings of $55.6 million for the first quarter, a slight decrease from the $57.1 million recorded last year. Net premiums written, however, increased to $597.8 million...
