Business Moves & Mergers News

Prime Insurance to Write Specialty Lines in New Hampshire, Rhode Island

Prime Holdings Insurance Services Inc. (Prime Holdings) announced that its subsidiary, Prime Insurance Company (Prime), recently received approval to write specialty lines insurance coverage in New Hampshire and Rhode Island. This move is an indication of how Prime is working …

Apax, Carlyle Reported Among Bidders for Indian Insurer Royal Sundaram

Apax Partners and Carlyle Group LP are among suitors weighing bids for a stake in Indian insurer Royal Sundaram General Insurance Co., people with knowledge of the matter said. The unit of Mumbai-listed Sundaram Finance Ltd. has started a process …

France’s AXA to Focus on M&A in 16 Countries; Eyes Sale of Some Non-Core Assets

French insurer AXA will narrow its acquisition focus to 16 key countries and could sell some assets in markets where it lacks scale, its executives said on Tuesday. “We want to focus on fewer countries. We want to focus on …

Alera Group Acquires Illinois Professional Liability Broker, Flagship Healthcare

Deerfield, Illinois-based Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, has acquired Flagship Healthcare, a physician-owned insurance brokerage specializing in professional liability insurance solutions for healthcare providers. Located in Chicago, Flagship Healthcare strives …

Arthur J. Gallagher Acquires Associated Insurance Services in California

Arthur J. Gallagher & Co. has acquired Westlake Village, Calif.-based Associated Insurance Services Inc. Terms of the deal were not disclosed. Michael C. Creswell, Tim McClain, Megan B. Gaines and their associates will continue to operate from their current location …

NIF Group Acquires Connecticut’s Agency Intermediaries and Massachusetts’ A.I.I.

NIF Group Inc. (NIF), a wholesale broker, program administrator and managing general agency, and its parent company JenCap Holdings LLC (JCH) have agreed to acquire privately held Agency Intermediaries Inc. and A.I.I. Insurance Brokerage of Mass. Inc. (A.I.I.). Both affiliated …

Xceedance Makes Equity Investment in Startup Blockchain Specialist ChainThat

Xceedance, the provider of insurance consulting, managed services, technology and data sciences, announced a multi-million dollar “Series A” equity investment in ChainThat, a London-based blockchain specialist company serving the re/insurance industry. While the amount of the equity investment was not …

MGA Chord Re Launches as Specialty Reinsurer, Writing on Behalf of Neon

Chord Re, a new underwriting vehicle established by Stefan Long, formerly head of Aspen Re London, has launched operations on Nov. 6. Chord Re expects to both structure and lead programs in specialist classes and will initially underwrite on behalf …

Chubb Launches Commercial Division for SMEs in Asia Pacific

Chubb announced it has formed a division in Asia Pacific dedicated to the risk management needs of small- and medium-sized enterprises (SMEs). This new business division, which is named the Small Commercial Division, focuses solely “on delivering a sustainable value …

Seeman Holtz Property & Casualty Acquires Check Out Insurance in Dallas

Boca Raton, Florida-based Seeman Holtz Property & Casualty Inc. has acquired Check Out Insurance LLC, headquartered in Dallas. Check Out Insurance will be joining the Primera Capital team to bring a solid book of quality client relationships to the Seeman …