Reinsurers Allied World Assurance Co. Holdings Ltd and Transatlantic Holdings Inc. called off their merger Friday in the face of overwhelming opposition, leaving Transatlantic to decide between two larger, unsolicited offers. Allied World said in a statement it would receive …
Hub International Limited announced that it has entered into a definitive agreement to acquire the operations of Horizon Insurance, LP. , a full service insurance brokerage firm headquartered in Manitoba. The acquisition is expected to close in the third quarter …
Allied World Assurance Company Holdings, AG announced that Institutional Shareholder Services (ISS), an independent proxy advisory service, has “issued a report recommending that shareholders of Allied World vote in favor of all of the proposals associated with the merger with …
Standard & Poor’s Ratings Services has removed both Transatlantic Holdings and Allied World Assurance Co. Holdings AG from its CreditWatch Positive, where they were placed on June 13, following the announcement of their merger agreement. S&P’s long-term counterparty credit rating …
Allied World Assurance Company Holdings, AG has announced “significant new merger-related synergies that can be achieved through the combination with Transatlantic Holdings, Inc.” The company said it “now estimates an annual run rate of over $160 million in synergies, an …
Geof McKernan, CEO of Philadelphia-based NSM Insurance Group, announced the acquisition of AFPD, a national program administrator for Lawyers and Dentist E&O programs, headquartered on Long Island, NY. AFPD is a program administrator for lawyer’s and dentist’s professional liability programs …
Vertafore, Kaplan Compliance Insurance agency technology vendor Vertafore said that its subsidiary Sircon will acquire Indianapolis, Indiana-based Kaplan Compliance Solutions (KCS), which sells insurance and securities software and services. Terms of the transaction were not disclosed. KCS, an operating unit …
Northbridge, Scanlon Guerra Burke Two independent insurance brokers are joining forces to become one of the largest insurance brokerages in Los Angeles and Ventura counties. The agreement combines Northridge Insurance Agency (NIA) in the San Fernando Valley with the Scanlon …
Arthur J. Gallagher, Robinson-Adams Arthur J. Gallagher & Co. has acquired insurance brokerage operations of Robinson-Adams Insurance Inc. in Birmingham, Alabama. Terms of the transaction were not disclosed. The acquisition does not involve the affiliated companies, including automotive-related businesses, AutoTec, …
Swiss Re announced that it has submitted an application to Brazil’s Superintendence of Private Insurance (SUSEP) for a local reinsurance registration. Swiss Re said it “views a Brazilian reinsurance registration as a local reinsurer as the next step in its …
