M&A 2016 News

Fate of Anthem-Cigna Merger Now in Judge’s Hands

The first phase of the U.S. Justice Department’s lawsuit to halt Anthem Inc.’s planned takeover of rival insurer Cigna Corp. is in the hands of a federal judge after the government wrapped up its arguments Tuesday that the deal would …

Verisk Analytics Buys Canadian Real-Time Analytics Firm Analyze Re

Data firm Verisk Analytics Inc. said it has acquired Halifax, Novia Scotia-based Analyze Re, a software analytics provider for the reinsurance and insurance industries founded in 2013. Terms of the deal were not disclosed. Analyze Re will become part of …

AIG to Sell Certain Latin American, Central and Eastern Europe Business to Fairfax

American International Group Inc. is selling its local commercial and consumer insurance operations in Argentina, Chile, Colombia, Uruguay, Venezuela and Turkey to property/casualty insurer Fairfax Financial Holdings Ltd. AIG is also selling Fairfax the renewal rights for the portfolio of …

AIG Selling Stake in Ascot Lloyd’s Syndicate; Will Keep Bermuda, Reinsurance Ties

American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board (CPPIB) for $1.1 billion. Total consideration for the deal is …

AIG Reported to Be Selling Its Last Shares in China’s PICC Insurer

American International Group (AIG) is seeking to raise about $190 million by selling its remaining shares in China’s PICC Property and Casualty Co Ltd, according to a term sheet of the deal seen by IFR on Saturday. AIG is offering …

World Insurance Associates Acquires New Jersey’s AIV Group

World Insurance Associates, an independent insurance agency headquartered in Tinton Falls, New Jersey, said it recently acquired AIV Group, an insurance agency serving the Asian community. AIV Group, in Avenel, New Jersey, was founded in 2010 by Sonali Shah, who …

National Interstate Accepts $660M Buyout by American Financial

National Interstate Corp., the provider of insurance to the transportation industry, accepted majority-owner American Financial Group Inc.’s sweetened bid of $32 a share to buy the stock that it doesn’t already own. The offer values National Interstate at about $660 …

Confie Acquires 2 New York Agencies: Sprague in Corning; Mason in Hancock

National insurance distribution firm Confie has acquired two insurance brokerages in New York State – Lloyd D. Sprague & Son Inc. and J.N. Mason Agency Inc. Confie, a portfolio company of ABRY Partner, has completed 11 acquisitions thus far in …

Insurance Office of America Acquires Hornung Agency in Delaware

Insurance Office of America (IOA) of Longwood, Florida, has acquired Thomas J. Hornung & Associates, an independent insurance agency in the Wilmington, Delaware area. Thomas J. Hornung, who founded the agency in 1997, and all employees will join the IOA …

Cross Insurance Buys Bardwell, Bowlby & Karem Agency in Berkshires

Cross Insurance has expanded its presence in western Massachusetts, New York and southern Vermont with the purchase of Pittsfield, Massachusetts-based independent insurance agencyBardwell, Bowlby & Karam,which has been serving the Berkshire area for 100 years. Terms of the acquisition are …