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Endurance terminates takeover bid for Aspen Insurance

By: Matthew Lerner

Published July 30, 2014 - 3:47pm CST

Endurance Specialty Holdings Ltd. on Wednesday said it has terminated its offer to acquire Aspen Insurance Holdings Ltd. and will not be pursuing its board size increase and scheme of arrangement proposals.

Crawford acquires U.K.-based construction and engineering adjuster

By: Kate Shepherd

Published July 30, 2014 - 1:18pm CST

Crawford & Co. has finalized the purchase of Manchester, England-based construction and engineering adjuster Buckley Scott Associates Ltd.

Willis quarterly revenue up 5.1%, but taxes, expenses blunt profit

By: Matthew Lerner

Published July 29, 2014 - 5:38pm CST

Willis Group Holdings P.LC. said Tuesday that its second-quarter revenue increased 5.1% to $935.0 million as commissions and fees grew, but increased income tax charges and expenses limited its net income.

Aspen shareholders vote to reject meetings proposed by Endurance

By: Matthew Lerner

Published July 28, 2014 - 10:35am CST

Shareholders of Aspen Insurance Holdings Ltd. have voted to reject two meeting proposals from Endurance Insurance Holdings Ltd. in the latest round of the battle waged over Endurance's $3.2 billion hostile takeover offer.

EPIC buys Leavitt Group's Jenkins Insurance unit

By: Kate Shepherd

Published July 22, 2014 - 12:41pm CST

Edgewood Partners Insurance Center Inc., which does business as EPIC, has purchased Concord, California-based Jenkins Insurance Services Inc., a unit of Leavitt Group Enterprises Inc.

IN FOCUS Video: Brokerage Industry Trends

Published July 22, 2014 - 12:24pm CST

In our latest video report, we speak with several insurance industry leaders to find out some of the latest trends and hot topics occurring in the commercial brokerage industry.

Acquisitions drive Brown & Brown’s 2nd-quarter revenue increase

By: Matthew Lerner

Published July 22, 2014 - 10:50am CST

Daytona Beach, Florida-based Brown & Brown Inc.’s second-quarter revenues rose 22.1% over those of the same period a year earlier to $397.8 million, bolstered by the closing of five acquisitions worth $157 million in revenue, Brown & Brown President and CEO J. Powell Brown said in a statement issued Monday.

Cross acquires another Maine-based agency, Merchant, Needham & Associates

By: Kate Shepherd

Published July 21, 2014 - 2:10pm CST

Cross Insurance, a subsidiary of Cross Financial Corp., announced its acquisition of Northeast Harbor, Maine-based insurance agency Merchant, Needham & Associates Insurance.

USI acquires New Jersey specialty agency

By: Kate Shepherd

Published July 21, 2014 - 1:25pm CST

USI Insurance Services L.L.C. announced that it has acquired Toms River, New Jersey-based insurance agency BHB Insurance Services L.L.C.

Aspen keeps pressure on shareholders to reject Endurance takeover bid

By: Matthew Lerner

Published July 21, 2014 - 11:15am CST

Aspen Insurance Holdings Ltd. Monday sent a letter to shareholders again urging them to reject the unsolicited $3.2 billion offer made for the company by Pembroke, Bermuda-based Endurance Specialty Holdings Ltd.

Brokers’ 2014 mergers and acquisitions activity is highest since 2008

By: Timothy J. Cunningham And Daniel P. Menzer

Published July 20, 2014 - 6:00am CST

U.S. and Canadian buyers and sellers announced 165 mergers and acquisitions of insurance agents and brokers in the first half of 2014, with a significant number involving private equity-backed firms.

Brokers capitalize on stronger economy, deals and specialty business in 2013

By: Mark A. Hofmann

Published July 20, 2014 - 6:00am CST

Increasing property/casualty rates, more demand for benefits consulting, a slowly improving economy plus healthy merger and acquisition activity helped drive revenue in 2013 in the commercial insurance brokerage sector.

Deal activity expected to pick up in the commercial brokerage space in 2014

By: Matthew Lerner

Published July 20, 2014 - 6:00am CST

Abundant seller-side supply coupled with equally plentiful capital on the buyers' side should make for an active consolidation environment in the commercial insurance brokerage space in 2014.

Endurance will not succeed with hostile takeover of Aspen: Barclays

By: Matthew Lerner

Published July 17, 2014 - 12:11pm CST

Endurance Specialty Holdings Ltd. likely will not complete its attempted $3.2 billion hostile takeover of Aspen Insurance Holdings Ltd., according to an equity research note from Barclays P.L.C.

MarshBerry acquires investment banking and reinsurance intermediary firm

By: Mark A. Hofmann

Published July 16, 2014 - 12:13pm CST

Marsh, Berry & Co. Inc. is acquiring substantially all of the assets of New York-based Gill & Roeser Inc., Willoughby, Ohio-based MarshBerry announced Wednesday.

Workers comp PBMs Progressive Medical and PMSI to rebrand as Helios

By: Sheena Harrison

Published July 15, 2014 - 2:51pm CST

Progressive Medical Inc. and PMSI Inc., two workers compensation pharmacy benefit managers that merged in October, will begin operating under the name Helios in August, according to a statement issued Tuesday.

Hamilton Re joins Iron-Starr as subscribing insurer

By: Kate Shepherd

Published July 15, 2014 - 1:10pm CST

Ironshore Inc. has announced the addition of Hamilton Re as a subscribing insurer to the Iron-Starr Excess Agency Ltd.

Generali sells BSI to BTG Pactual for $1.69 billion

Published July 14, 2014 - 8:33am CST

(Reuters) — Assicurazioni Generali S.p.A. has agreed to sell Swiss private bank BSI to Brazil's BTG Pactual for 1.5 billion Swiss francs ($1.69 billion) in cash and stock, offloading an unprofitable noncore unit and boosting its financial strength.

Brazilian bank to buy Ariel Re from Global Atlantic

By: Mark A. Hofmann

Published July 11, 2014 - 1:05pm CST

São Paulo-based investment banking firm Banco BTG Pactual S.A. will acquire Hamilton, Bermuda-based Ariel Re from Global Atlantic Financial Group Ltd., the two companies said.

Aspen announces higher estimated 2nd-quarter earnings

By: Mark A. Hofmann

Published July 11, 2014 - 10:05am CST

Aspen Insurance Holdings Ltd. on Thursday reported higher estimated earnings per share in a preannouncement of its second-quarter results.

Hub International buys Manitoba-based insurance agency

By: Joanne Wojcik

Published July 07, 2014 - 1:02pm CST

Hub International Ltd. on Monday said it has acquired the shares of Gibson's Insurance Agency Ltd., a Manitoba, Canada-based commercial insurance brokerage, expanding its reach into Canada.

Swiss insurer Helvetia to buy rival Nationale Suisse

Published July 07, 2014 - 9:40am CST

(Reuters) — Swiss insurer Helvetia Group will buy rival Nationale Suisse in a deal worth 1.4 billion Swiss francs ($1.57 billion).

Hub acquires New Mexico insurance brokerage Free Market

By: Joanne Wojcik

Published July 03, 2014 - 3:01pm CST

Hub International Ltd. has acquired the assets of Free Market Insurance Agencies L.L.C., a full-service commercial insurance brokerage located in Albuquerque, New Mexico.

Zurich to take $300 million hit from selling Russian retail unit

Published July 03, 2014 - 9:05am CST

(Reuters) — Zurich Insurance Group Ltd. said it would take a hit of about $300 million in the third quarter from selling its Russian retail business to the OLMA Group, part of the insurer's strategy to shed underperforming units.

Jardine Lloyd Thompson buys 26% stake of Indian broker IIB

By: Sarah Veysey

Published July 02, 2014 - 9:26am CST

Jardine Lloyd Thompson Group P.L.C. has acquired 26% of Indian insurance and reinsurance brokerage Independent Insurance Brokers Private Ltd., JLT announced Wednesday.

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