2018 M&A News

J.C. Flowers Buys Lloyd’s Brokers SSL and Endeavour; Two Agree to Merge

Lloyd’s and independent specialist marine broker SSL Insurance Group has agreed to merge with fellow Lloyd’s broker and delegated authority specialist Endeavour Insurance Services. The deal will conclude with both companies being acquired by a fund advised by private investment …

Risk Strategies Acquires Massachusetts’ Costello Benefits Group

Risk Strategies, a privately held, national insurance brokerage and risk management firm, has acquired Costello Benefits Group (CBG Benefits Inc.), a full-service employee benefits brokerage firm headquartered in Woburn, Mass. Terms of the deal were not disclosed. This acquisition is …

Salem Five Acquires Massachusetts’ Fabri & Rourke Insurance

Salem Five, a commercial and personal insurance provider based in Salem, Mass., has acquired Fabri & Rourke Insurance, headquartered in Georgetown, Mass. This is the second Georgetown-based acquisition for Salem Five, having acquired Georgetown Bank in 2017. Salem Five has …

Weather Analytics Expands with Acquisition of Software Firm Athenium

Insurance and risk data firm Weather Analytics said it has further expanded its offerings beyond weather information by acquiring Athenium Inc., a Waltham, Massachusetts-based claims and underwriting assessment software company. Washington, D.C.-based Weather Analytics said it is also investing more …

The Evans Agency Acquires New York’s Richardson & Stout Insurance

The Evans Agency LLC, a wholly owned insurance subsidiary of community financial services company Evans Bancorp Inc., has acquired the business of Richardson & Stout Insurance (R&S) of Wellsville, N.Y. The transaction is effective July 1, 2018. Terms of the …

XL Shares Executive Changes, Exits in Preparation for AXA Takeover

XL Group has announced management changes and departures in anticipation of the planned acquisition of XL by AXA. French insurer AXA SA has agreed to buy XL Group Ltd. for $15.3 billion in cash in a bid to capture a …

AXA Says Funding to Buy XL Group Is All Set

AXA said on Monday it had secured financing for the 12.4 billion euros ($14.9 billion) acquisition of XL Group and was not dependent on the issuance of any additional debt following the flotation of part of its U.S. unit, AXA …

HDI Global, Hannover Re Merge Units to Create Specialty Insurance Joint Venture

Hannover Re and HDI Global SE are merging their specialty activities in a new joint venture. The new company, HDI Global Specialty SE, will write agency and specialty insurance business in lines such as errors & omissions liability insurance, directors’ …

Marsh’s Jelf Completes Acquisition of Clark Thomson of Scotland

Marsh insurance broking and consulting subsidiary Jelf reports it has completed its previously announced acquisition of Clark Thomson, Scotland’s largest independent insurance broker. Established in 1965, Clark Thomson is headquartered in Perth and has offices in Dundee, Glasgow, Inverness, Kirkwall, …

Prime Risk Partners Finalizes Acquisition of Roblin Insurance of Boston

Prime Risk Partners Inc. has finalized its acquisition of Roblin Insurance, an independent insurance agency in the Boston area providing commercial, personal, and employee benefits risk management. Roblin Insurance will maintain its name and will continue operating at its existing …