Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
Australian Westpac Eyes Acquisition Opportunities
Jul 7 2000 // Sydney-based Westpac Banking Corp. is reviewing possibilities of acquiring insurance and funds management businesses. “We certainly remain excited about opportunities in bancassurance, as we feel it represents the...
Hilb, Rogal and Hamilton Co. Acquires Red Hawk Insurance Services
Jul 6 2000 // Hilb, Rogal and Hamilton Company has acquired substantially all of the operating assets of Red Hawk Insurance Services, Inc., an insurance agency in San Diego, Calif. Terms of the transaction were not disclosed. In...
Hub Acquires Boston Insurance Agency
Jul 5 2000 // The Hub Group Limited has completed the acquisition of C.J. McCarthy Insurance Agency Inc. of Boston, Mass. The annual commission revenue of C.J. McCarthy Insurance Agency Inc. is $12 million. The Hub Group Limited is an...
Overseas Partners Ltd. To Purchase Reliance Re
Jul 3 2000 // Bermuda based Overseas Partners Ltd (OPL) has agreed to acquire Reliance Reinsurance Company from Reliance Insurance Co., but will not assume the existing liabilities of either company. The amount paid by OPL hasn’t...
Century Business Sells Insurance Division to Consortium
Jun 29 2000 // Century Business Services (CBIZ) has agreed to sell its risk-bearing insurance operations to a consortium of financial entities for $31 million, contingent upon regulatory approval. The consortium, made up of Avalon...
Holocaust Issues Delay Munich Re Acquisition
Jun 26 2000 // A ruling by the Pennsylvania Supreme Court will further delay Munich Re subsidiary, American Re’s purchase of Pennsylvania based asset management company, United National Group. A lower court judge had ordered the...
iwix.net Announces Partnerships with Five MGAs
Jun 26 2000 // iwix.net, an Internet specialty insurance marketplace, has announced partnerships with five major Managing General Agencies (MGAs), who will be offering specialty products on the site. RA&MCO (representing Great...
ACQUISITION HUNT
Jun 26 2000 // Arthur J. Gallagher & Co. has completed four insurance agency acquisitions, purchasing Davis-Poston & Assoc. of Dallas; Bultman/Bell Associates of Greenville and Columbia, S. C.; Universico Group of St. Claire...
ASSURANCE PARTNERS BANK OPENS
Jun 26 2000 // Assurance Partners Bank, a specialized bank founded by the insurance industry to provide banking products and services to insurance companies and their customers, employees and agents, is open and ready for business. The...
AXA Subsidiaries To Buy Institutional Fund Manager
Jun 22 2000 // AXA Financial, Inc. (AXF) and Alliance Capital Management L.P. (AC), both U.S. based subsidiaries of France’s AXA Group, have entered into an agreement to acquire substantially all of the assets and liabilities of...
Reliance Sells Off Lines To The Hartford, Kemper
Jun 22 2000 // The following day, Kemper announced it would acquire the renewal rights to a portion of Reliance National’s book of business. Meanwhile, Standard & Poor’s has lowered its ratings on Reliance and related...
Royal Bank of Canada To Buy Liberty Insurance Units
Jun 20 2000 // South Carolina’s Liberty Corp. announced that it plans to sell its insurance units, which include Liberty Life Co. and Liberty Insurance Services Corp., to Toronto based Royal Bank of Canada for a reported $650...
Computer Sciences to Buy Mynd for $568 Million
Jun 20 2000 // Computer Sciences Corp. has agreed to buy Mynd, formerly Policy Management Systems Corp., for $568 million in an all-cash deal. The purchase is expected to enhance CSC’s ability to serve insurance and financial...
ING – Aetna End Exclusive Acquisition Discussions
Jun 19 2000 // Once again discussions between Dutch bancasssurer ING and the U.S. largest health care insurer, Aetna, seem to have reached an impasse with Aetna’s announcement that it was talking to other interested parties as well...
CGNU Forms Investment Partnership With Government For China
Jun 19 2000 // CGNU and the U.K. government’s CDC Capital Partners, its emerging market investment agency (formerly the Commonwealth Development Corporation), announced the creation of an investment fund of up to $100 million in...
Old Mutual To Buy United Asset Management
Jun 19 2000 // South Africa’s largest life insurance and pension fund manager, Old Mutual Plc, which despite the name is a stock company, as it demutualized last year, has agreed to purchase U.S. fund manager United Asset...
Reliance Sells Off Three Lines To The Hartford
Jun 19 2000 // First, the company’s chief executive stepped down amid pressure from stockholders. Then, the company’s surety group withdrew its proposal for an initial public offering. Then sprung up reports of the company...
Assurance Partners Bank Opens
Jun 13 2000 // Assurance Partners Bank, a specialized bank founded by the insurance industry to provide banking products and services to insurance companies and their customers, employees and agents, is open and ready for business. The...
Arthur J. Gallagher Co. Acquires Four Agencies
Jun 12 2000 // Arthur J. Gallagher & Co. has completed four insurance agency acquisitions, purchasing Davis-Poston & Assoc. of Dallas; Bultman/Bell Associates of Greenville and Columbia, S. C.; Universico Group of St. Claire...
iwix.net Receives $5 Million in VC Funding
Jun 12 2000 // iwix.net, a specialty insurance portal, has secured $5 million in first round venture capital funding. All of the funding is coming from one source, Quester. Quester’s investment strategy is to back businesses that...
