American International Group (AIG) is seeking to raise about $190 million by selling its remaining shares in China’s PICC Property and Casualty Co Ltd, according to a term sheet of the deal seen by IFR on Saturday. AIG is offering …
Everest Re Group Ltd. has finalized the sale of its U.S. crop managing general agent, Heartland Crop Insurance Inc., to CGB Diversified Services, Inc. for $49 million. In conjunction with the sale, Everest has entered into a strategic long term …
Newly formed Watford Specialty Insurance Co. (WSIC), a subsidiary of Bermuda-based Watford Re, took a big leap forward recently with its acquisition of a carrier with admitted licenses in all 50 states and the District of Columbia. The previously dormant …
National Interstate Corp., the provider of insurance to the transportation industry, accepted majority-owner American Financial Group Inc.’s sweetened bid of $32 a share to buy the stock that it doesn’t already own. The offer values National Interstate at about $660 …
The potential bust-up of two mega deals among America’s largest health insurance companies may have an unintended result – more mergers. The U.S. Department of Justice on Thursday sued to block Aetna Inc.’s $37 billion purchase of Humana Inc and …
Data provider Verisk Analytics Inc. is continuing to grow beyond its insurance industry roots with the announcement it will acquire Greentech Media Inc., an information services provider for the solar electricity and clean energy sector. Greentech Media will become part …
Israel-based financial software provider Sapiens International Corp. said it has agreed to buy Maximum Processing Inc., a property/casualty insurance software provider known for its Stingray System. Maximum Processing is a privately-held company headquartered in Bradenton, Florida, with offices in Garner, …
Bermuda-based specialty insurer Ironshore Inc. said it will acquire the remaining 80 percent equity interest in Lexon Surety Group and its surety-related affiliates. Ironshore said it will be an all-cash transaction. Lexon Surety Group is a privately-held insurance holding company …
The flurry of insurance mergers and acquisitions that yielded about $150 billion of transactions globally in 2015 may endure even after years of “patchy” results for some companies making deals, according to ratings firm Standard & Poor’s. “We believe the …
BB&T Corp. said it has completed its acquisition of wholesale insurance and reinsurance broker CGSC North America (Swett & Crawford) from Cooper Gay Swett & Crawford. North Carolina-based BB&T said it acquired the U.K.-based Swett & Crawford for $500 million …
