Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
White Mountains to Buy CGNU U.S. Unit
Sep 25 2000 // White Mountains Insurance Group has agreed to buy the U.S. property casualty operations of British insurer CGNU Group for $2.1 billion. The Hanover, N.H-based insurer is also expected to pay $500 million in debt owed by...
Report Lloyd’s/IUA Forming Joint Venture With Tech Firm
Sep 25 2000 // A report in the Times of London indicates that the joint Lloyd’s/ IUA (International Underwriting Association) Forum, set up last year to explore ways of harmonizing procedures between the two groups and making the...
HRH Acquires Maryland Agency
Sep 25 2000 // Hilb, Rogal and Hamilton Co. announced the signing of a definitive agreement to purchase all of the outstanding stock of Insurance One, Inc., a full-service insurance agency in Rockville, Maryland. The transaction is...
Northeast Pennsylvania Financial Corp. to Acquire Higgins Insurance Agency
Sep 22 2000 // Northeast Pennsylvania Financial Corp. and Higgins Insurance Associates, Inc. have signed a letter of intent for Northeast to acquire Higgins Insurance Agency. The transaction is subject to certain rights of first refusal...
Everest Re Group Completes Gibraltar Acquisition
Sep 20 2000 // Everest Re Group, Ltd.’s U.S. subsidiary Everest Reinsurance Holdings, Inc. has completed the acquisition of Gibraltar Casualty Company from The Prudential Insurance Company of America. The acquisition price of $51.8...
Gallagher Acquires Three Agencies
Sep 20 2000 // Arthur J. Gallagher & Co. has completed the acquisition of three agencies; Atlantic Risk Management Corporation, of Baltimore; Murphy Consultants, of Elgin, Ill.; and R.G. Speno, Inc. Insurance Brokerage, of...
Aetna To Sell Mexican Joint Ventures for $693 Million
Sep 20 2000 // As part of the impending sale of its international units to Holland’s ING Group, Aetna announced that it had reached agreement with its Mexican partner Grupo Financiero BBVA Bancomer, to sell its interests in three...
Japanese Insurers Confirm Merger Plans
Sep 18 2000 // Confirming earlier reports, Japan’s largest p/c insurer, Tokio Marine and Fire Insurance Co. Ltd. plans to merge with the 5th largest life insurer, Asahi Mutual Life and a smaller p/c company Nichido Fire &...
Tokio Marine Reported in Merger Talks
Sep 14 2000 // Japan’s largest non-life insurer, Tokio Marine & Fire Insurance Co., is reported by Reuters News Agency to be in the last stages of talks with Asahi Mutual Life Insurance to join their companies to create one of...
Old Guard Group Shareholders Approve Acquisition by Ohio Farmers
Sep 13 2000 // Old Guard Group, Inc. has received shareholder approval for its acquisition by Ohio Farmers Insurance Company. With more than 71% of the outstanding stock voting, 92% were voted in favor of the transaction. The transaction...
Summit Global Partners Opens Michigan Office
Sep 13 2000 // Summit Global Partners, a Dallas-based brokerage, has opened a new retail office in Troy, Mich. James R. Parry Sr. will serve as president and chief executive officer for SGP Michigan. Parry formerly served as vice...
Chase to Buy J.P. Morgan for $33 Billion
Sep 13 2000 // Chase Manhattan Corp. plans to buy commercial and investment bank J.P. Morgan & Co. Inc. for $33.2 billion in stock. The merged bank will be called J.P. Morgan Chase & Co., and will combine two of the...
The Hartford Completes Acquisition of Reliance
Sep 13 2000 // The Hartford Financial Services Group has completed the purchase of the financial products and excess and surplus lines from Reliance Group Holdings. The acquisition, first announced June 19, has cleared all regulatory...
GE Capital Set To Acquire Scottish Life
Sep 12 2000 // According to reports in several newspapers, GE Capital, the financial unit of General Electric, is set to acquire Scottish Life, one of the last remaining mutual life insurance companies in Scotland for an estimated £2...
HRH Acquires Conn.-Based Thomas M. Murphy & Associates
Sep 8 2000 // Hilb, Rogal and Hamilton Company announced that it has acquired substantially all of the operating assets of Thomas M. Murphy & Associates (“TMM&A”), an insurance agency in Shelton,...
Brown & Brown, Inc. Announces Acquisition of Robertson Insurance Services
Sep 8 2000 // Brown & Brown Inc. has acquired Robertson Insurance Services Inc. The transaction is effective September 1, 2000. Robertson Insurance Services is a holding company for the majority partnership interest in...
Candover Considers Acquiring Reliance’s European Arm
Sep 8 2000 // Candover Investments P.L.C., a buyout specialist, has entered into exclusive negotiations to acquire Reliance National Insurance Co. (Europe) Ltd. Last year, Reliance National (Europe) generated $255.2 million in gross...
Jersey Shore State Bank Announces Agreement to Acquire Securities Brokerage, Insurance Business
Sep 6 2000 // Jersey Shore State Bank entered into a definitive agreement to acquire the businesses of Paul R. Mamolen, CLU, and The M Group, Inc. The combined businesses will be operated under a bank subsidiary, The M Group, Inc. doing...
Arthur J. Gallagher & Co. Acquires John P. Woods, Colonial Agency
Sep 6 2000 // Co. Arthur J. Gallagher & Co. has acquired John P. Woods Co. Inc. of Jersey City, New Jersey and Atlanta, Georgia, and The Colonial Agency, Inc. of upstate New York. Terms of the transactions were not...
ING Finalizes Acquisition of ReliaStar
Sep 4 2000 // ING Group, the Dutch insurance and financial services giant, has finalized the acquisition of Minnesota based insurer ReliaStar. All regulatory approvals were received as of August 30th. The agreement, announced last May,...
