Mergers and Acquisitions News

World Insurance Associates Acquires R.S. Gilmore Insurance Agency

World Insurance Associates LLC (WIA) has acquired R.S. Gilmore Insurance Agency Inc. of North Attleboro, Mass., on December 1, 2020. Terms of the transaction were not disclosed. The R.S. Gilmore Insurance Agency Inc. was established in 1938 and has grown …

Sompo Acquires Diversified Crop Insurance, Forms AgriSompo North America

Sompo International Holdings Ltd. (SIH), a Bermuda-based specialty provider of property/casualty insurance and reinsurance, has acquired Lenexa, Kan.-based Diversified Crop Insurance Services (DCIS), a subsidiary of CGB Enterprises Inc. (CGB). DCIS and ARMtech, Sompo International’s existing U.S. federally sponsored multi-peril …

Canada Reports 20-Year High in Overseas Investment in Insurance M&A

Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021. …

Global Insurance M&A Surges in 1st Half but Lull Likely in H2 on COVID Uncertainties

Mergers and acquisitions (M&A) in the global insurance industry rose in the first half of 2020 with 201 completed deals worldwide, up from 197 in the second half of 2019, according to Clyde & Co’s “Insurance Growth Report” mid-year update. …

Insurance Agency and Brokerage M&A Trends to Watch Amid the COVID-19 Pandemic

The COVID-19 pandemic has created challenges for many businesses across the globe, including the insurance industry. But so far, the insurance broker merger and acquisition (M&A) market has remained active even as the pandemic continues to unfold. Before the pandemic, …

The Plexus Groupe Acquires Florida’s Community Insurance Group

The Plexus Groupe, a privately held broker, has acquired Community Insurance Group (CIG) of Brandon, Fla. This is the first entrance into the Florida market for Plexus, which has locations in Atlanta, Chicago, Dallas, Los Angeles and Oklahoma City. The …

Global M&A Plunges 28% in Q1 as Coronavirus Hits Economies

Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers. Deal …

Australia Firms Begin to Use Legal Clause to Terminate M&A Deals Amid Virus

Several Australian companies are reviewing or even terminating takeover deals by using a legal escape route because of the devastating impact of the coronavirus, a template that some lawyers expect to be replicated in other countries. Three listed companies this …

Legacy Specialist Compre Completes 3 Run-Off Acquisitions

Compre, the London-based independent re/insurance legacy specialist, announced it has signed three transactions involving Basler Versicherung AG (Baloise), Helvetia Swiss Insurance Co. Ltd. (Helvetia), and an undisclosed European insurance group. Compre has acquired each company’s share of the Gibbon Pools, …

Summit Risk Advisors Completes $100M Recapitalization with Colbeck

Summit Risk Advisors, previously SEK Holding Company LLC, has completed a $100,000,000 recapitalization and senior debt facility with Colbeck Capital Management to finance the acquisition of nine retail insurance agencies, consolidate ownership and provide a delayed draw facility for future …