July 23, 2012
Pro Insurance Group, Falvay-Counihan Insurance Pro Insurance Group, a Troy, Mich.-based independent insurance agency, announced the acquisition of Falvay-Counihan Insurance Inc., of Bloomfield Hills, Mich. InPro gains Falvay-Counihan’s book of property and casualty insurance business, as well as its team …
July 23, 2012
Allied World U.S. Switzerland-headquartered Allied World Assurance Company Holdings AG has expanded its U.S. casualty operations with the launch of a new construction casualty division. The new division will be run from Allied’s New York office. New lines of business …
July 23, 2012
BancorpSouth Insurance, Securance BancorpSouth Insurance Services Inc., headquartered in Tupelo, Mississippi, has agreed to acquire the assets of The Securance Group, Inc., an independent property/casualty and life/health insurance agency headquartered in Brewton, Alabama. Financial terms of the pending transaction were …
July 16, 2012
A wide range of suitors, from the son of Asia’s richest man and a former rugby player in New Zealand to more established players including AIA Group and Manulife Financial Corp, are expected to submit binding bids on Monday for …
July 16, 2012
Direct Line, the UK’s largest motor [auto] insurer run by government-owned Royal Bank of Scotland, is a takeover target for private equity groups looking to pre-empt what would be one of the biggest initial public offerings in London this year. …
July 16, 2012
Willis Group Holdings announced that it has been issued a full commercial lines license to conduct insurance intermediary services in Guernsey under the Insurance Managers and Insurance Intermediaries Bailiwick of Guernsey Law, 2002. Willis noted that it is the “only …
July 12, 2012
Global private equity fund Blackstone Group LP is backing Mark Wilson, the former chief of AIA Group Ltd, in the bidding for ING Groep NV’s Asia insurance unit, a source directly familiar with the matter said. The consortium led by …
July 10, 2012
S.A.C. Re, Ltd. announced that it has commenced operations with $500 million of contributed capital, raised in a private placement of the equity securities of its parent, S.A.C. Re Holdings, Ltd. S.A.C. Re Holdings’ founding investors include Steven A. Cohen …
July 9, 2012
Catalina Holdings (Bermuda) Ltd. announced that it has signed a definitive agreement to acquire two legacy businesses, HSBC Reinsurance Limited and HSBC Insurance (Ireland) Limited from HSBC Holdings plc, “subject only to regulatory approval from the Central Bank of Ireland. …
July 6, 2012
Aviva, the UK’s No.2 insurer, plans to sell or close more than a quarter of its businesses in a shake-up aimed at regaining the support of investors irked by the group’s flagging share price. The company, whose weak stock market …