Business Moves & Mergers News

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, …

Kaplansky Insurance Acquires Massachusetts’ Kelleher & Mackey Insurance Agency

Kaplansky Insurance, a Needham, Mass.-based, independent and locally owned agency, has acquired Kelleher & Mackey Insurance Agency (K&M) in Quincy, Mass. Following the acquisition, K&M will be merging into Kaplansky’s new Weymouth, Mass., location. The addition of K&M marks the …

Risk Strategies Acquires Craford Benefit Consultants in California

Risk Strategies has acquired San Rafael, Calif.-based Craford Benefit Consultants. Terms of the deal were not disclosed. Craford is an employee consulting and benefits brokerage firm that also has offices in Portland, Ore. and Charlotte, N.C. Risk Strategies is a …

MAPFRE Insurance Set to Exit New York, New Jersey Markets

MAPFRE Insurance has entered into definitive agreements with affiliates of The Plymouth Rock Company to exit the states of New York and New Jersey as part of MAPFRE’s previously announced strategy to focus on its core states and lines of …

AssuredPartners Acquires Bell Insurance in Dallas

AssuredPartners Inc. has acquired Dallas-based Bell Insurance. Bell Insurance has delivered quality insurance products and services to individuals and businesses throughout Texas for over 30 years. The team of 23 will continue operations under the leadership of President Vince Bell. …

Cat Facility CCRIF Welcomes 2 New Members: British Virgin Islands, Montserrat

CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced that British Virgin Islands and Montserrat have joined the facility and purchased coverage for the 2018/19 policy year, beginning June 1. Both countries obtained tropical cyclone and excess rainfall policies …

MGA Volante Obtains US$900M in Capacity to Support 9 Global Underwriting Teams

Volante Global Ltd., the new international managing general agent (MGA) platform, has successfully secured a US$900 million gross premium, multi-class, multi-territory “A+” capacity treaty agreement. The capacity will support nine new underwriting teams which will work across seven classes of …

Advent Insurance Management Launches Consultancy Division

Advent Insurance Management, the insurtech-led Lloyd’s & London market service provider, has launched Advent Insurance Consulting, following the appointment of Parminder Kaur as director. Advent Insurance Consulting will provide “cost-effective, hands-on support to drive greater operational efficiency and deliver change …

Investor Group Acquires Kansas City Insurance Compliance Services Firm

A group of investors that own Affinity Worldwide and National Real Estate Insurance Group (NREIG) and led by Tim Norris, has purchased First Consulting and Administration Inc., a Kansas City-based insurance compliance service company. Established in 1969, First Consulting and …