Mergers News

Hamilton Finds Buyer for Sportscover Legacy Book

Hamilton Insurance Group has found a buyer for the legacy book the insurer inherited from its purchase of Sportscover Underwriting Ltd. in April 2015. Syndicate 3330 will buy the business from Hamilton Underwriting Limited, the managing agency of Syndicate 3334 …

The Hartford Closes on $168M Acquisition of Maxum Specialty

The Hartford Insurance Group (HIG) has completed its acquisition of Maxum Specialty Insurance Group for $168 million in cash. The transaction, announced in March, closed on July 29. Maxum will maintain its brand and limited wholesale distribution model and will …

Hub Acquires Florida’s Connelly, Carlisle, Fields & Nichols

Global insurance broker Hub International Limited has acquired the assets of Connelly, Carlisle, Fields & Nichols (CCFN), a Clearwater, Florida-based insurance brokerage firm. Terms of the acquisition were not disclosed. The CCFN operations will form a new regional Hub doing …

Despite Uncertainty, Momentum Building for M&As in 2013: PwC

While 2012 was a flat year for financial services mergers and acquisitions (M&A) overall, there was a surge in the fourth quarter and there is reason to think activity will pick up in 2013, according to a new report. Insurance, …

AmWins Acquires Long-Term Care Specialist CIMI Professional

AmWINS Program Underwriters (APU), an AmWINS Group company, has acquired certain assets of CIMI Professional. CIMI Professional is a long-term care managing general underwriter (MGU) and a division of Chandler Insurance Managers, Inc. In conjunction with the acquisition, Matthew J. …

Keystone Insurers Group Continues Expansion in Georgia

Keystone Insurers Group has added two new franchise partners in Georgia: Boswell Insurance Group of Athens and Ash/Welborn Insurance of Cornelia. About the new Keystone partners: Boswell Insurance Group – Formerly Hutchins, Cox, Stroud & Pierson, Boswell Group is the …

Best Upgrades NIPPONKOA’s Ratings to ‘A+’; Affirms Subs

A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “aa-” from “a+” of Japan’s NIPPONKOA Insurance Company Ltd. Best also affirmed the FSR of ‘A’ (Excellent) …

CRC’s CEO Hopes to Create ‘Best of the Best’ With Crump Merger

The recent acquisition of Roseland, N.J.-based insurance wholesaler Crump Group by BB&T Corp., a major regional bank and insurance broker based in Winston-Salem, N.C., created one of the largest providers of wholesale commercial insurance brokerage and specialty programs in the …

Deloitte Advice for Insurers in 2012: Focus on New Products, Countries

Global economic challenges will make it difficult for insurers to generate growth and profits over the short and long term, however, they might improve their chances for achieving success in 2012 by focusing on new insurance products and on emerging …

Shareholder Adviser OK’s Allied’s Bid, But Nixes Approval by Transatlantic

Allied World Assurance Company Holdings, AG announced that Institutional Shareholder Services (ISS), an independent proxy advisory service, has “issued a report recommending that shareholders of Allied World vote in favor of all of the proposals associated with the merger with …