Business Moves & Mergers News

Arthur J. Gallagher Buys Marchetti, Robertson & Brickell Insurance and Bonding Agency

Illinois-based Arthur J. Gallagher & Co. has acquired Marchetti, Robertson & Brickell Insurance and Bonding Agency Inc., with offices in Ridgeland, Mississippi, and Kansas City, Missouri. Terms of the transaction were not disclosed. Founded in 1953, Marchetti, Robertson & Brickell …

Guggenheim Exploring Deal with Munich Re’s Asset Management Unit

Guggenheim Partners is exploring the sale of a stake in its $250 billion asset-management unit overseen by Scott Minerd, according to people familiar with the matter. Guggenheim Partners Investment Management has been in talks with global insurers, sovereign wealth funds …

With Ambitions to Expand (and Disrupt Allianz), German Insurer DFV Weighs IPO

With ambitions to challenge insurance giants like Allianz SE, newcomer Deutsche Familienversicherung AG [DFV] needs 100 million euros ($116 million) in fresh funds to finance its expansion plan. An initial public offering is one path Stefan Knoll, founder and chief …

Two P/C Insurance Trade Groups — AIA and PCI— Plan to Merge

Two leading U.S. property/casualty insurance carrier trade groups are talking about merging. The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) said their respective boards have approved moving ahead with merger talks and due diligence, …

The Hilb Group Adds Massachusetts’ BAR Insurance Brokerage

The Hilb Group LLC (THG) has added Needham, Mass.-based BAR Insurance Brokerage Inc. (BAR). The transaction became effective June 1, 2018. BAR is an employee benefits firm that provides a range of group benefits products and services to its customers. …

Tokio Marine to Acquire Thai, Indonesian Operations of IAG for $390M

Tokio Marine Holdings Inc. announced on June 19 it has entered into a definitive agreement to acquire Thailand and Indonesia insurance businesses of Insurance Australia Group Ltd. (IAG) for approximately A$525 million (42.8 billion Yen; $390 million) in cash. The …

Toyota’s $1B Investment in Ride-Hailer Grab Opens Door to Data-Driven Insurance

By pumping $1 billion into ride-hailing firm Grab, Toyota Motor Corp. stands to gain a passenger-side view of tens of thousands of cars across Southeast Asia, tracking how fast they drive, how far they travel and the time they spend …

Alera Group Acquires Kaercher Insurance in Nevada

Alera Group has acquired Las Vegas, Nev.-based Kaercher Insurance, which includes Kaercher Campbell, Kaercher Insurance Agency and Sundance Insurance. Terms of the deal were not disclosed. Kaercher Insurance offers employee benefit services, property/casualty insurance and workers’ compensation to clients throughout …

Allianz’ CEO Seeks Big M&A – But He Doesn’t Want to Pay for It: Opinion

The CEO of Europe’s biggest insurer is up for a big deal. He just doesn’t want Allianz SE to pay for it. Oliver Baete is going to find it hard to have his cake and eat it. Three years into …

B3i Chooses R3’s Corda Blockchain Platform for Development of Business Network

B3i, The Blockchain Insurance Industry Initiative, has announced it will build its applications and business network on the Corda blockchain platform, supplied by software firm R3. Following an extensive evaluation, which focused on the critical success factors of data privacy, …