The year 2006 was a boom year for mergers and acquisitions within the property casualty insurance world. An
It was a year when some of the biggest or most tantalizing deals never made it past the rumor or discussion stages. St. Paul had to squash rumors it was merging with Zurich Insurance, not once but twice. There were reports Aon was looking to acquire Marsh. Marsh explored but did not close on a deal to sell its Putnam unit.
The proposed $1.1 billion sale of Universal Underwriters Insurance Co. by Zurich to a San Francisco-based private equity investment firm fell through following a regulatory examination that mandated tens of millions of dollars in customer refunds. USI Holdings reported a buyout inquiry in October. National Atlantic Holdings Corp. ended discussions with The Commerce Group Inc. without a deal.
The last few weeks of the year typically brings news of additional transactions. The following are some highlights from the
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