Category: M&A

Sompo International, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that its U.S. Insurance platform has reached an agreement to purchase the operating subsidiaries of Lexon Surety Group LLC (Lexon). \ Lexon, the second largest independent surety insurer in the U.S., is comprised of...

Toronto, Oct. 30, 2017 — Trisura Group Ltd.(“Trisura”) and RSA Canada (“RSA”) are pleased to announce the transition of RSA’s contract and commercial surety business in Canada to Trisura Guarantee Insurance Company (“Trisura Guarantee”). RSA’s Canadian surety portfolio consist of approximately 450 contract and commercial surety accounts with annual...

OMAHA, Neb.–(BUSINESS WIRE)–Boston Omaha Corporation (NASDAQ: BOMN) (the “Company”) announced that on October 6, 2017, General Indemnity Group, LLC, a wholly owned subsidiary of the Company, entered into a Unit Purchase Agreement to acquire at a subsequent closing a majority equity interest in South Coast Surety Insurance Services, LLC...

Chicago, Ill.-based Hub International Limited announced on Monday that Hub Quebec has purchased “certain assets” from Patrice Varin, through a corporation held by him. Terms of the acquisition were not disclosed. Varin will join Hub Quebec, bringing with him a commercial line book of business focused on offering bonds...

US-based Markel Corporation has entered into a definitive agreement to acquire State National Companies, a specialty provider of property/casualty insurance operating in two niche markets – programmes services and lender services, for approximately $919 million. Under the agreement, which has been approved by both companies’ board of directors, Markel...

BOSTON–(BUSINESS WIRE)–General Indemnity Group, LLC, (“GIG”), a subsidiary of Boston Omaha Corporation (NASDAQ: BOMN) announced today that it acquired Surety Support Services, Inc., of Overland Park, Kansas. Tracing its origins back almost 40 years, Surety Support Services (“SSS”) provides surety-only services to contractors, insurance agents, brokers, and all types...

A newly-formed commercial insurance fronting provider, Clear Blue Financial Holdings LLC, said it has officially launched with two fully-licensed fronting carriers and will begin servicing clients immediately. To launch its fronting operation, Puerto Rico-based Clear Blue Financial Holdings last month acquired two specialty insurance companies as shells. It acquired...

i2B Capital has closed an $8 million structured term loan to National Surety Underwriters (NSU) to fund the capitalization of a new reinsurance subsidiary and the merger of McCabe and Independent Corporate Underwriters. NSU – a special-purpose surety reinsurance captive and underwriting agency headquartered in Philadelphia – is the...

TORONTO, May 9, 2017 – Northbridge Financial Corporation is expanding its product line to include surety bonds. Starting June 1, 2017, businesses across Canada will have access to an extensive selection of contract and commercial bonding solutions. “Northbridge is now open for surety business,” says Silvy Wright, President &...

Intact Financial Corp (IFC.TO), Canada’s largest property and casualty insurer, said it would buy U.S.-based specialty insurer OneBeacon Insurance Group Ltd (OB.N) for $1.7 billion, creating a specialty insurer focused on small- and mid-sized businesses. The $18.10 cash offer represented a 15.3 percent premium to OneBeacon’s Tuesday close. Shares...