2018 M&A News

Kaplansky Insurance Acquires Massachusetts’ Burak Insurance

Kaplansky Insurance, an independent, locally owned agency in the Northeast, has acquired Burak Insurance, located in Canton, Mass. The addition of Burak marks Kaplansky Insurance’s 31st overall acquisition and its fourth for 2018. Kaplansky Insurance, based in Needham, Mass., provides …

Nationwide Acquires Liability Insurance Program Manager E-Risk Services

Insurer Nationwide has acquired E-Risk Services, a privately-held, program manager specializing in management lines. Terms of the purchase agreement between were not disclosed. The transaction closed on January 1, 2019. E-Risk Services, located in Flanders, N.J., operates as an underwriting …

Arch Insurance Europe Finalizes Purchase of Ardonagh’s UK Commercial Lines Business

Arch Insurance Europe has completed the acquisition of the UK commercial lines business owned by The Ardonagh Group and part of its Geo Underwriting operating segment. The acquired business, which generated more than £150 million ($190 million) of gross written …

Generali Completes Sale of Belgium Unit to Bermuda Re/Insurance Group Athora

Assicurazioni Generali SpA announced the closing of the sale of its entire stake in Generali Belgium SA to Athora Holding Ltd. for approximately €540 million ($618.9 million). The deal was first announced on April 18, 2018. The company will be …

Generali Hikes Stake in Indian Insurance Joint Venture to 49% from 25.5%

Generali Group has finalized its agreement to increase its stake in its Indian insurance joint venture with Future Group to 49 percent from 25.5 percent. Through this transaction, Generali has committed up to approximately €120 million ($137.3 million) to its …

Arthur J. Gallagher & Co. Acquires Pennsylvania’s Preston-Patterson Co.

Arthur J. Gallagher & Co. has acquired Conshohocken, Penn.-based Preston-Patterson Co. Inc. Terms of the transaction were not disclosed. Founded in 1947, Preston-Patterson is a retail property and casualty insurance broker offering a range of coverages and services to broadcasters …

China Re Completes Purchase of Chaucer Holdings from Hanover Insurance

China Reinsurance (Group) Corp. announced it has completed the 100 percent equity acquisition of Chaucer Holdings Ltd. — the major portion of Hanover Insurance Group’s Lloyd’s international specialty business. The acquisition of Chaucer Insurance Co. DAC (Chaucer Dublin) and Hanover …

The Hilb Group Acquires Massachusetts’ H.J. Knight International Insurance Agency

The Hilb Group LLC (THG) has acquired Massachusetts-based H.J. Knight International Insurance Agency Inc. (HJK). The transaction became effective December 1, 2018. HJK is a full-service brokerage in the commercial insurance and risk management industry. Founded in 1987, the company …

Plymouth Rock to Acquire MAPFRE Insurance Company of New York

The New York State Department of Financial Services (DFS) has approved an application by Plymouth Rock Assurance Corporation to acquire MAPFRE Insurance Company of New York, a New York domestic property and casualty insurer, which will now be known as …

Japan Insurance Group MS&AD to Raise Stake in Swiss Re’s UK Unit ReAssure

Japanese insurance group MS&AD Insurance Group Holdings (MS&AD) has agreed to increase its minority stake in ReAssure, Swiss Re’s UK closed life book consolidator, by making an additional cash investment of £315 million ($398.7 million). The transaction, which is subject …