Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Everest Re Acquires AFC Re
Dec 26 2000 // Everest Reinsurance (Bermuda) Ltd., a subsidiary of the Everest Re Group announced that it has “acquired AFC Re Ltd., a Bermuda based annuity/life reinsurer, from AFC Holdings Ltd. for approximately $17 million in a...
ISO to Acquire Claims Outcome Advisor
Dec 26 2000 // Insurance Services Office has entered into an agreement with Computer Sciences Corp. based in El Segundo, Calif. And Mynd Corp., based in Columbia, S.C., to acquire Claims Outcome Advisor, a bodily-injury claims-management...
AXA, AXA Merger Complete Exchange Offer for AXA
Dec 26 2000 // AXA and its wholly owned subsidiary, AXA Merger Corp. have completed their exchange offer for all outstanding shares of common stock of AXA Financial, Inc., other than shares owned by AXA and its subsidiaries and shares...
AGF Completes Acquisition of Hartford’s Dutch Subsidiary
Dec 26 2000 // The Hartford has completed the previously announced sale of its Dutch subsidiary Zwolsche Algemeene to AGF, the French arm of Germany’s Allianz, for €599 million ($551 million). Zwolsche wrote €383 million...
Equitable Sells Unit to Liverpool Victoria
Dec 26 2000 // Troubled British Mutual Insurer Equitable Life announced that it has sold its Permanent Insurance Unit to another U.K. mutual Liverpool Victoria for £150 million ($222 million). The move comes as pressure rises on...
ING To Acquire 35% Interest in Japanese Finance Company
Dec 21 2000 // Holland’s ING Group announced plans to acquire a 35 percent interest in the mid-sized Japanese financial services company Nice Co. for between $17.7 and $26.6 million, and will become its largest shareholder. The...
Allianz May Acquire Stake in Czech Insurer
Dec 21 2000 // Germany’s Allianz is in talks with the Czech government concerning the acquisition of its 30 percent holding in the country’s biggest insurance group, Ceska Pojistovna. The move would further strengthen...
High River Affiliate to Buy Reliance Group Bonds
Dec 19 2000 // Affiliates of High River LP plan to buy about $61 million of bonds issued by Reliance Group Holdings. The affiliates are making a tender offer in order to block any debt restructuring plan it considers unacceptable should...
Conseco Sells Some Assets to Wells Fargo
Dec 12 2000 // Conseco Inc. has signed an agreement to sell most of the assets of Conseco Finance’s Vendor Services unit to Wells Fargo Financial Leasing Inc. for roughly $160 million in cash. Vendor Services is one of...
XL To Acquire CGU’s U.S. Surety Business
Dec 11 2000 // Bermuda’s XL Capital Ltd. announced that its surety bond unit, XL Specialty Insurance Co., has agreed to purchase CGU’s U.S. surety business of for an undisclosed amount. XLSIC President Daryl LaForge stated...
HIH Sells Renewal Rights to Argonaut, Alaska National
Dec 11 2000 // In the latest action in the volatile workers’ compensation arena, Argonaut Insurance Company announced it will acquire the renewal rights and other tangible assets associated with the workers’ comp business of...
Liberty Mutual Sells Subsidiary to Mexican Group
Dec 6 2000 // Mexico’s Grupo Financiero Inbursa announced that it had purchased Liberty Mexico Seguros from Liberty Mutual, its parent company, for $11.5 million. Inbursa operates Seguros Inbursa, and plans to merge...
Arthur J. Gallagher Acquires SiliconInsurance
Dec 5 2000 // Arthur J. Gallagher & Co. has acquired SiliconInsurance of Chicago. Terms of the transaction were not disclosed. Founded by Michael Flanagan, Silicon provides a full range of property/casualty and risk consulting...
Waypoint acquires Owen Insurance Agency
Dec 5 2000 // Waypoint Financial, the parent company for Waypoint Bank has completed its acquisition of the Owen Insurance Agency, one of the area’s largest independent insurance agencies. Owen offers a full range of property and...
HIH Sells W/C Book, Ceases Writing New Business
Nov 29 2000 // San Francisco-based HIH America Compensation and Liability Insurance Company is selling the renewal rights and other tangible assets associated with its large account California workers’ compensation business to...
AGF Acquires 25 Percent Stake In Tindall Riley Marine
Nov 29 2000 // AGF, the French subsidiary of Germany’s Allianz, has acquired a 25 percent stake in U.K. based maritime insurance manager Tindall Riley Marine for an undisclosed amount. TRM, one of six major marine mutual insurance...
ING To Form Indian Life Partnership
Nov 29 2000 // Holland’s ING became the latest big global insurance group to announce the formation of a joint venture with Indian partners in order to enter India’s insurance market. ING will hold a 26 percent interest, the...
Premium Income Rises at Allianz – Eyes U.K. Acquisition
Nov 27 2000 // German insurance giant Allianz AG announced that premium income for the first 9 months of the year reached a record €50.9 billion ($42.675 billion) a 15.5 percent rise over 1999. Property and casualty operations...
Applied Systems Partners with Data Transit
Nov 27 2000 // Applied Systems Inc. has unveiled a strategic partnership with Data Transit International that was established last month. The agreement calls for Data Transit to house Applied’s Internet-based insurance agent/broker...
Amtrust Financial To Buy Struggling Credit General
Nov 27 2000 // According to Michael Camilleri, president and CEO of Amtrust Insurance Operations, Amtrust Financial Group signed a definitive agreement on Nov. 20 to purchase the insolvent Credit General Insurance Company. Credit...
