Germany’s Hannover Re, the third largest global reinsurer, has reached agreement with Scottish Re (US) on the acquisition of a reinsurance portfolio as part of a transaction. The other part involves the transfer of a block of term life policies. …
Tennessee-based wholesale insurance broker Appalachian Underwriters Inc. has obtained the assets of Reliance Administrators, Inc., a Rock Hill, South Carolina wholesaler that specializes in workers’ compensation, commercial lines and niche programs. Robert Arowood, president, Appalachian Underwriters Inc., said that Reliance …
Hub International Limited announced that it has acquired Redcliffe Financial Group, a Vancouver, British Columbia-based employee benefits and life insurance brokerage firm. Terms of the acquisition were not disclosed. Hub said Redcliffe would “become part of the Hub International Insurance …
MDS Holdings, the Iberian and Latin American insurance broking group, announced that it has acquired a “50 percent stake in Coral, the former Portuguese in-house broker of Salvador Caetano Group, the largest automotive business in the Iberian market. Following the …
Kane, a provider of specialist risk and insurance management services, announced that it has signed an agreement to acquire the insurance management operations of HSBC. The bulletin explained that “under the agreement, which has been signed with HSBC Bank Bermuda …
Australia’s QBE announced that it has completed its acquisition of the U.S. admitted insurance businesses of Renaissance Re, which include a U.S. crop and small specialist program insurance business. QBE said the acquisition supports its “commitment to growing the business …
Crawford & Company announced that it has successfully completed its acquisition of Studio Bolton & Associati s.r.l., first announced in November 2010. Studio Bolton is a leading specialist liability adjusting and claims handling company in Italy, with more than 35 …
Arthur J. Gallagher & Co. announced that it has signed a definitive agreement to acquire the business and certain assets of London-based Woodbrook Underwriting Agencies, Ltd. The transaction is expected to close during the first quarter 2011. Terms of the …
A.M. Best Co. has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of the New York-based QBE Re Group – US and its members are unchanged following the announcement that the ultimate parent, …
Bank of America agreed to offload its Balboa insurance portfolio to Australia’s QBE Insurance for more than $700 million, the latest in a string of asset sales by the U.S. lender as it recovers from the global credit crisis. Bank …
