Latest Mergers & Acquisitions Headlines
All the headlines from our Mergers & Acquisitions Topic Page, ordered by recency.
SCOR Acquires XL Life America
Jul 23 2009 // SCOR Global Life US (SGL U.S.), a wholly-owned subsidiary of France’s SCOR Group, has reached a definitive agreement to acquire XL Re Life America Inc. (XLRLA), a subsidiary of XL Capital Ltd. The total consideration...
Wholesalers as Partners When Navigating Market Changes
Jul 20 2009 // We are all painfully aware of the impact of the deep recession our country has been mired in for the past year, and it appears that recovery will take some time. The tightening of credit and decline in consumer confidence...
Validus Wins IPC; Industry ‘Think Tank’ Warns on Climate Change; Partner Re to Acquire PARIS RE
Jul 20 2009 // The contest to acquire IPC Holding appears to be over. Validus Holdings, the formerly unwelcome suitor, whose rival bid ended Max Capital’s effort to take over IPC, has emerged as the winner. Validus finally came up...
AIG Sells Mexican Consumer Finance Operations
Jul 20 2009 // American International Group, Inc. announced that it has closed the sale of its consumer finance operations in Mexico, consisting of AIG Universal, S.A. de C.V., SOFOM E.N.R. and Markcenter Services, S. de R.L. de C.V, to...
Pan-American Life Acquires Texas-based Medical Benefits Provider
Jul 20 2009 // New Orleans-based Pan-American Life Insurance Group has completed the acquisition of USNow, which is headquartered in Plano, Texas, and provides limited medical plans. Since 1995, USNow President and CEO David E. Lindsey...
SEC Charges 5 with Insider Trading Ahead of Liberty Mutual-Safeco Merger
Jul 17 2009 // The Securities and Exchange Commission (SEC) has charged that five individuals, including a former investment banker at Goldman Sachs & Co., illegally tipped or traded on confidential information ahead of an...
Source Says Prudential in Talks with AIG to Buy Japanese Life Units
Jul 16 2009 // American International Group is in talks with a Prudential Financial Inc. unit to sell two Japanese life insurers, a person familiar with the matter said Wednesday. The talks for AIG Edison Life Insurance Co and AIG Star...
Kansas City’s Ascension Acquires Atlanta’s Haas & Dodd Insurance
Jul 15 2009 // Missouri-based Ascension Insurance, Inc. has acquired Haas & Dodd Insurance, Inc. of Atlanta, Ga., effective July 1, 2009. Haas & Dodd agency specializes in property/ casualty insurance and employee benefits...
Apex Global Partners Opens New Office in Oklahoma City
Jul 15 2009 // Dallas-based Apex Global Partners Inc. (AGP) has expanded its employee benefits operations by opening a new office in Oklahoma City. In conjunction with the expansion, AGP appointed Brad Williams as director of Oklahoma...
<em>Analysis:</em> U.S. Small Business Funding Dry, Getting Drier
Jul 14 2009 // U.S. small businesses, already facing the toughest credit conditions since the 1980s, may soon find things are about to get tougher. Concerns over the future of CIT Corp. — a major lender to small businesses —...
Zwiener Joins PartnerRe Board
Jul 10 2009 // Bermuda-based PartnerRe Ltd. announced that David Zwiener has been appointed to fill a vacancy on its Board of Directors effective July 7, 2009. Zwiener, aged 54, is an experienced insurance industry executive. Between...
Validus to Buy IPCRe
Jul 10 2009 // Validus Holdings Ltd. said it has agreed to buy Bermuda reinsurance rival IPC Holdings Ltd. for $1.65 billion in cash and stock, beating another rival, Flagstone Reinsurance Holdings Ltd, and likely ending a months-long...
Ameriana Insurance Agency Completes Chapin-Hayworth Acquisition
Jul 9 2009 // Ameriana Bancorp announced that its subsidiary, Ameriana Insurance Agency, has completed the acquisition of Chapin-Hayworth Insurance Agency Inc., a multi-line property and casualty insurance agency located in New Castle,...
Focus Holdings Closes on Acquisition of Capacity Insurance in Florida
Jul 8 2009 // Focus Holdings, LLC in Sunrise, Florida, reports that it closed on its acquisition of Capacity Insurance Co. (CIC), a Florida domestic commercial lines insurer, effective July 1, 2009. Focus, better known by the name of...
S&P Changes Outlook on PartnerRe’s Ratings to Negative
Jul 7 2009 // While Standard & Poor’s Ratings Services is positive in its outlook for PARIS RE (See related article), it is less so when it comes to the acquiring company, Bermuda-based PartnerRe. S&P said it has revised...
S&P, Best See Positive Outlook for PARIS RE Deal with PartnerRe
Jul 7 2009 // Both A.M. Best Co. and Standard & Poor’s Ratings Services have taken a positive outlook for their ratings on PARIS RE and its operating companies, following the announcement that the group would be acquired by...
PartnerRe To Acquire PARIS RE; Best Sees no Rating Change
Jul 6 2009 // Bermuda-based PartnerRe announced that it has entered into definitive agreements to acquire PARIS RE, a French-listed, Swiss-based diversified reinsurer. PartnerRe will exchange 0.30 of its common shares for each PARIS RE...
Tower Group to Acquire Specialty Underwriters’ Alliance of Illinois
Jul 6 2009 // New York-based Tower Group Inc. has agreed to purchase Specialty Underwriters’ Alliance Inc., headquartered in Chicago, in a transaction valued at approximately $107 million. SUA said the deal will enable it to...
Swimming Downstream: How a Regional Insurer Buys Others Through Demutualization
Jul 6 2009 // Donegal Group’s Strategy Has Taken It From Writing in One to 19 States in 20 Years Even in a good economy, mutual insurers face challenges trying to raise the capital they need to grow because they don’t have...
Farmers Acquisition of 21st Century Insurance Finalized
Jul 2 2009 // Los Angeles-based The Farmers Insurance Group of Companies has completed the acquisition of 100 percent of AIG’s U.S. Personal Auto Group, which includes 21st Century Insurance. In addition to 21st Century Insurance,...
