Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Credit Suisse Sells Corporate Insurance Unit to
Feb 20 2001 // Credit Suisse Group is selling its large multi-corporate insurance business to Bermuda-based financial services group XL Capital Ltd for $600 million. The move will reportedly allow Credit Suisse’s Swiss-based...
YNB Financial Services Forms Partnership with Local Independent Insurance Agencies
Feb 16 2001 // New Jersey bank, YNB Financial Services has signed marketing agreements with three independently-owned insurance agencies, Borden-Perlman Insurance Agency, Nottingham Insurance Agency and Princeton Assurance Corporation...
CNP Buys Control of Brazilian Insurer for
Feb 16 2001 // French life insurer CNP Assurances has entered Brazil’s fast-growing insurance market with a deal to buy a controlling share of Sasse for $535 million. CNP agreed to buy a 50.75 percent stake in Caixa Seguros (Sasse)...
MetLife Receives Approval for Grand Bank Acquisition
Feb 13 2001 // The Federal Reserve Board has approved the MetLife’s application for bank holding company status and its acquisition of Grand Bank, N.A. of Kingston, New Jersey. The Board also has approved MetLife’s request...
AIG Looking For Acquisitions
Feb 13 2001 // American International Group is on the lookout for acquisitions both in the United States and overseas, according to a statement made by Chairman Maurice Greenberg during a meeting with analysts and money managers that...
Fortis To Acquire Stake in Malaysian Insurer
Feb 9 2001 // Fortis, the Belgian-Dutch financial services group, announced that it will acquire a 30 percent stake in the insurance unit of Malaysia’s Maybank for $90 million. The insurance holdings, chiefly Mayban Life Assurance...
CGNU Sells New Zealand Business To NRMA For $178 Million
Feb 8 2001 // NRMA, Australia’s largest general insurer, has agreed to acquire New Zealand’s State Insurance Ltd from CGNU, its present owner, for A$325 million ($178.23 million). CGNU chose to sell the former Norwich Union...
Tacoma Agency Acquired by Arthur Gallagher
Feb 8 2001 // Arthur J. Gallagher and Co. and Persing, Dyckman & Toynbee Inc. have merged. Persing, Dyckman & Toynbee is an independent insurance brokerage that has operated in the Tacoma, Wa., area for more than 50 years. It...
Management buys New York Brokerage
Feb 7 2001 // New York-based Frenkel & Co. Inc. has a new owner-senior management as a result of a management buyout Monday led by Robert Shunk and John Kelly. Shunk will continue as chairman of Frenkel, and Kelly will serve as...
AIG To Acquire 7.3 Percent Stake In Japanese Stockbroker
Feb 7 2001 // AIG gave further evidence of its confidence in Japan’s economy on Tuesday, with the announcement that the U.S. giant had agreed to acquire a 7.3 percent stake in H.I.S. Securities Co. Ltd. for 300 million yen ($2.61...
Hilb, Rogal and Hamilton Continues Acquisitions
Feb 6 2001 // Hilb, Rogal and Hamilton Co. has acquired a Maine agency. Terms of the deal were not disclosed. HRH purchased The Dunlap Corp. based in Auburn, Maine, which operates four offices in Maine and New Hampshire. Founded in...
Frenkel and Co. Inc. Acquired by Senior Management
Feb 5 2001 // Frenkel & Co., Inc., a leading international insurance brokerage firm, has been acquired through a management buyout. The management buyout was lead by Robert Shunk and John Kelly. Shunk will continue to serve as...
The Hartford Acquires Fortis
Feb 5 2001 // The Hartford expects to move from the No. 5 to the No. 3 spot nationally in individual life insurance with a $1.12 billion acquisition of Fortis Financial Group’s life, annuity and mutual fund business. According to...
Hilb, Rogal and Hamilton Acquires Kansas Agency
Feb 2 2001 // Hilb, Rogal and Hamilton Co. has acquired substantially all of the operations of Dulaney, Johnston & Priest, an insurance agency headquartered in Wichita, Kansas. Terms of the transaction were not disclosed. With over...
AscendantOne Gains Second Round Funding
Jan 29 2001 // AscendantOne has received new funding from equity partners US Bancorp Piper Jaffray Ventures and Century Capital Management. The additional funding supports a product launch of the Rate/Quote/Issuance module of...
Ebix.com Partners With Risk Management Technologies
Jan 25 2001 // ebix.com Inc. has partnered with Risk Management Technologies Inc., a move that gives surety agents and brokers using the new ebixASP agency management system access to a surety bond management system. Risk Management...
AIG Indian Joint Venture License Approved
Jan 24 2001 // American International Group announced that it has received approval from the Indian Insurance Regulatory and Development Authority to establish a joint venture with the Tata Group “to market commercial and personal...
U.K.’s Prudential To Buy Japanese Life Insurer
Jan 23 2001 // The U.K. ‘s Prudential announced plans to purchase Japan’s Orico Life, a subsidiary of Orient Corp., for 23 billion yen (around $200 million). The move will further strengthen the company’s Asian...
Liberty Mutual To Acquire Hartford’s Spanish Subsidiary
Jan 23 2001 // Liberty Mutual announced that its Liberty International unit would purchase Hartford Seguros, The Hartford Financial Services Group’s Spanish subsidiary, for an undisclosed amount. The company, which will be renamed...
Hub International to Acquire Kaye Group
Jan 22 2001 // Hub International has entered a definitive agreement to acquire Kaye Group through a merger transaction. Upon the merger, each holder of Kaye Group shares will receive for each share held US$14, comprised of the following...
