Category: M&A

Launches Sompo International, to be its first fully integrated global commercial insurance and reinsurance platform TOKYO and HAMILTON, Bermuda, March 28, 2017 (GLOBE NEWSWIRE) — Further to the announcement made on 5 October 2016, SOMPO Holdings, Inc. (“SOMPO”) is pleased to announce that following approval of the applicable regulatory...

RICHMOND, Va. and HOUSTON, Feb. 1, 2017 /PRNewswire/ — Markel Corporation (“Markel”) (NYSE: MKL) and SureTec Financial Corp. (“SureTec”) announced today that they have entered into a definitive agreement for Markel to acquire SureTec for approximately $250 million, inclusive of a three-year earn out. The transaction is subject to...

General Indemnity Group, LLC, (“GIG”), a subsidiary of Boston Omaha Corporation (OTC: BOMN), announced today that it has completed the previously disclosed acquisition of United Casualty and Surety Insurance Company (“UCS”), of Quincy, Massachusetts. UCS is a leading provider of both contract and commercial surety products, and has earned...

Canada-based Fairfax Financial Holdings, a property and casualty re/insurer, is acquiring Allied World Assurance Company Holdings for $4.9 billion in cash and stock as the two companies have entered into a merger agreement approved by their boards. The offer price represents a premium of 18 percent to the closing...

Liberty Mutual Insurance has agreed to acquire specialty lines insurer Ironshore Inc. from China’s Fosun International Limited. Liberty Mutual will acquire a 100 percent ownership interest in Ironshore. According to the announcement, the purchase price will equate to 1.45x Ironshore’s actual tangible book value as of year-end 2016, and...

Business insurance provider Federated Mutual Insurance Company has reached an agreement to acquire Granite Re, an Oklahoma-based provider of surety bonds for small to medium-sized contractors. According to Federated Insurance, the acquisition better positions Federated Insurance to partner with commercial contractors for their surety and bonding needs. Jeff Fetters,...