XL Group’s CEO Mike McGavick has issued the following statement to clients and brokers in response to today’s announcement that XL has entered into an agreement to be acquired by French insurer AXA. Dear Valued Partners, We wanted to let …
State Auto Insurance is continuing its exit from the specialty insurance business, selling off more of the business of its excess and surplus lines subsidiary, Rockhill Insurance Group. The buyer this time is specialty insurance holding company K2 Insurance Services, …
Hub International Ltd., a Chicago-based global insurance brokerage, announced that it has acquired the shares of GMS Insurance (SWO) Inc. Terms of the acquisition were not disclosed. Based in Kitchener, Ontario, GMS Insurance is an independent benefit consulting firm that …
Nippon Life Insurance Co said on Friday it had agreed to buy an 85 percent stake in the domestic unit of U.S.-based MassMutual Financial Group for about 104.2 billion yen ($980 million) as it aims to boost its bancassurance sales. …
Global broker Jardine Lloyd Thompson Group (JLT) has acquired International Risk Consultants (IRC), a U.S. broker specializing in specialist trade credit and political risk insurance. Based in Columbus, Ohio, and operating across U.S., Brazil, China and Hong Kong, IRC provides …
Zurich Insurance Group has entered into an agreement to acquire the Latin American operations of Australian insurer QBE Insurance Group Ltd. for a total aggregate price of US$409 million, subject to closing adjustments. The transaction, which is subject to regulatory …
Ryan Specialty Group LLC (RSG) has reached a definitive agreement to acquire the assets and operations of New Day Underwriting Managers LLC (New Day), a specialty intermediary with offices in Hamilton, N.J. New Day will become part of R-T Specialty …
Risk Strategies, a Boston, Mass.-headquartered, privately held national insurance brokerage and risk management firm, has acquired New York City-based Prosurance Redeker Group LTD., a specialty brokerage serving architects and engineers. Terms of the deal were not disclosed. Formed in 1991 …
AXA announced it had entered into an agreement with Mr. Elkhan Garibli to sell all AXA’s insurance operations in Azerbaijan. Under the terms of the agreement, Garibli would acquire 100% of the non-life entity (AXA MBask Insurance Company OJSC). The …
Brown & Brown of New York Inc., a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of Purchase, N.Y.-based yourPFO Consulting LLC (yourPFO). yourPFO represents many large company clients in the design and implementation of …
