Hippo, an insurance technology startup, is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter. The transaction with Reinvent Technology Partners, a special purpose acquisition company that counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as its lead directors,… Continue reading Hippo in Talks to Merge with Mark Pincus, Reid Hoffman SPAC
Tag: M&A
Roper Technologies Buys Vertafore for $5.35 Billion
Roper Technologies, Inc., a leading diversified technology company, today announced that it has reached a definitive agreement to acquire Vertafore in an all-cash transaction valued at approximately $5.35 billion. “In Roper we have found a partner who shares both our vision and our values,” said Vertafore Chief Executive Officer Amy Zupon. “Their acquisition of Vertafore… Continue reading Roper Technologies Buys Vertafore for $5.35 Billion
Insurance Agency Mergers and Acquisitions Decline
There were 288 announced insurance agency mergers and acquisitions during the first half of 2020, down from 328 in 2019, according to OPTIS Partners’ M&A database. It was the lowest six-month period total since 2017. The data covers U.S. and Canadian agencies selling primarily property-and-casualty insurance, agencies selling both P&C and employee benefits, and those… Continue reading Insurance Agency Mergers and Acquisitions Decline
USI Insurance Services Acquires Full Service Insurance Agency, Inc.
USI Insurance Services (“USI”), a world leader in risk management, employee benefit and retirement plan consulting, today announced the acquisition of Franklin, Tennessee-based Full Service Insurance Agency, Inc. Founded in 1975, Full Service Insurance is one of middle Tennessee’s leading independent insurance agencies, specializing in commercial insurance, employee benefits and personal risk solutions for businesses… Continue reading USI Insurance Services Acquires Full Service Insurance Agency, Inc.
Cybersecurity Risks Are Threatening M&A Deals, Industry Survey Shows
Cybersecurity issues are increasingly becoming a concern in mergers and acquisitions, a new survey shows, and lapses can jeopardize deals or haunt purchasers long after the deal is done. Of more than 2,700 information technology and business decision makers surveyed by Forescout Technologies Inc. in seven countries, 53% reported that their organization had encountered a… Continue reading Cybersecurity Risks Are Threatening M&A Deals, Industry Survey Shows
M&A Market Slump is Global, Sounding Warning Bell for Future Deal Making in 2019
North American companies making M&A deals, on average, lost shareholder value during the second quarter of 2019, underperforming the MCSI North America Regional Index by –3.7 percentage points (pp). Further, for the first time in over a decade companies making M&A deals in every region worldwide, on average, lost shareholder value, underperforming the World Index1… Continue reading M&A Market Slump is Global, Sounding Warning Bell for Future Deal Making in 2019
Summit Risk Advisors Completes $100 Million Recapitalization with Colbeck
Summit Risk Advisors (“Summit”), previously SEK Holding Company, LLC has completed a $100,000,000 recapitalization and senior debt facility with Colbeck Capital Management (“Colbeck”), to finance the acquisition of nine retail insurance agencies, consolidate ownership, and to provide a delayed draw facility for future insurance agency acquisitions. Summit is the parent Company of Sawicki Insurance Agency,… Continue reading Summit Risk Advisors Completes $100 Million Recapitalization with Colbeck
Insurer Aon in Talks to Buy Rival Willis Towers Watson
Aon Plc is considering buying rival insurance brokerage Willis Towers Watson Plc, Bloomberg reported on Tuesday, citing people familiar with the matter. Aon is preparing to submit a bid for Willis Towers in the coming weeks and the two companies have also held preliminary talks, the report said. With an acquisition of Willis Towers, Aon… Continue reading Insurer Aon in Talks to Buy Rival Willis Towers Watson
U.S. Appeals Court Rejects Justice Department Antitrust Challenge to AT&T-Time Warner Deal
A federal appeals court on Tuesday rejected the Justice Department’s bid to roll back AT&T Inc.’s 2018 acquisition of entertainment company Time Warner, a second defeat for government antitrust enforcers who sought to sink the $80 billion-plus deal. The U.S. Court of Appeals for the District of Columbia Circuit affirmed a trial judge’s ruling in… Continue reading U.S. Appeals Court Rejects Justice Department Antitrust Challenge to AT&T-Time Warner Deal
AIA and PCI Announce Merger Agreement Effective January 1
The Property Casualty Insurers Association of America issued the following joint statement: The following is a joint statement from Anthony J. Kuczinski, President and Chief Executive Officer of Munich Reinsurance America, Inc. and Chair of the Board of Directors of the American Insurance Association (AIA) and Pete McPartland, Chairman of the Board, President, and CEO… Continue reading AIA and PCI Announce Merger Agreement Effective January 1