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Current Table

TOP TEN INSURANCE-RELATED MERGERS AND ACQUISITIONS REPORTED IN 2011 (1)
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Rank Buyer Country Target Country Deal value ($ millions) (2)
1 Express Scripts Inc. U.S. Medco Health Solutions Inc. U.S. $28,901.6
2 CIGNA Corp. U.S. HealthSpring Inc. U.S. 3,824.9
3 Alleghany Corp. U.S. Transatlantic Holdings Inc. U.S. 3,534.6
4 Tokio Marine Holdings Inc. Japan Delphi Financial Group Inc. U.S. 2,891.0
5 Allstate Corp. U.S. White Mountains Inc. and
Answer Financial Inc.		 U.S. 1,000.0
6 Nationwide Mutual Insurance Co. U.S. Harleysville Group Inc. U.S. 815.8
7 QBE Insurance Group Ltd. Australia Balboa insurance business U.S. 700.0
8 MidOcean Partners U.S. Pre-Paid Legal Services Inc. U.S. 651.0
9 Hannover Life Reassurance Co.
of America (3)		 Germany Reinsurance portfolio
of Scottish Re		 U.S. 565.0
10 Berkshire Hathaway Inc. U.S. Wesco Financial Corp. U.S. 547.6

(1) Target is a U.S.-domiciled insurance underwriter or broker. List does not include terminated deals.
(2) At announcement.
(3) Hannover Life Reassurance (U.S.) is a division of Germany-based Haftpflichtverband der Deutschen Industrie V.a.G; Scottish Re (U.S.) is owned by Bermuda-based Scottish Re Group Ltd.

Source: SNL Financial LC.

 

Archived Tables

TOP TEN INSURANCE-RELATED MERGERS AND ACQUISITIONS REPORTED IN 2008 (1)
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Rank Buyer Target Deal value (2) ($ millions)
1 Liberty Mutual Holding Company Inc. Safeco Corporation $6,225.0
2 Nationwide Mutual Group Nationwide Financial Services, Inc. 2,470.7
3 UnitedHealth Group Incorporated Three Rivers Holdings, Inc. 930.0
4 Berkshire Hathaway Inc. White Mountain subsidiaries 836.2
5 Vision Service Plan Marchon Eyewear, Inc. 735.0
6 Ameriprise Financial, Inc. J. & W. Seligman & Co. Incorporated 440.0
7 MetLife, Inc. FHHL and Residential Mortgage business 383.0
8 Ameriprise Financial, Inc. HRB Financial Corporation 315.0
9 Berkshire Hathaway Inc. Chehalis Generating plant 308.0
10 Meadowbrook Insurance Group, Inc. ProCentury Corporation 272.2

(1) Both companies involved are U.S.-domiciled companies. List does not include terminated deals. Insurance company is either buyer or target.
(2) At announcement.

Source: SNL Financial LC.

 
TOP TEN INSURANCE-RELATED MERGERS AND ACQUISITIONS REPORTED IN 2009 (1)
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Rank Buyer Country Target Country Deal value ($ millions) (2)
1 Farmers Group (Zurich Financial Services AG) Switzerland AIG's personal lines automobile
insurance business (3)		 U.S. $1,900.0
2 Farmers Exchanges (4) U.S. AIG's U.S. personal auto insurance entities U.S. 1,380.0
3 Fairfax Financial Holdings Limited Canada Odyssey Re Holdings Corp. U.S. 1,049.4
4 UnitedHealth Group Incorporated U.S. Health Net, Inc.'s Northeast HMO business U.S. 630.0
5 Medical Professional Mutual Insurance Company U.S. FinCor Holdings, Inc. U.S. 263.9
6 Auto Club Insurance Association Group U.S. MEEMIC companies U.S. 217.5
7 Berkshire Hathaway Inc. U.S. Aon Corp.'s property/casualty operations U.S. 200.0
8 Tower Group, Inc. U.S. Specialty Underwriters' Alliance, Inc. U.S. 109.1
9 Aflac Incorporated U.S. Continental American Insurance Group U.S. 100.0
10 Lifetime Healthcare, Inc. U.S. Long-term care business of Combined Insurance Company of America U.S. 70.0

(1) Target is a U.S.-domiciled insurance underwriter. If target country is not available seller country is used. List does not include terminated deals.
(2) At announcement.
(3) Includes 21st Century and Agency Auto.
(4) This transaction is part of Farmers Group’s purchase of AIG’s personal auto business (see deal no. 1).  Farmers Exchanges is managed, but not owned, by Zurich Financial Services AG.

Source: SNL Financial LC.

 
TOP TEN INSURANCE-RELATED MERGERS AND ACQUISITIONS REPORTED IN 2010 (1)
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Rank Buyer Country Target Country

Deal value
($ millions) (2)
1 MetLife, Inc. U.S. American Life Insurance Company/
Delaware American Life Insurance Company		 U.S. $15,545.1
2 Prudential Financial, Inc. U.S. AIG subsidiaries U.S. 4,200.0
3 Berkshire Hathaway Inc. U.S. Asbestos and environmental pollution liabilities of CNA Financial U.S. 2,000.0
4 Fairfax Financial Holdings Limited Canada Zenith National Insurance Corp. U.S. 1,318.5
5 CVS Caremark Corporation U.S. Universal American Corp. U.S. 1,250.0
6 ACE Limited Switzerland Rain and Hail Insurance Service Incorporated U.S. 1,100.0
7 Investor group Canada Liberty Life Insurance Company U.S. 628.1
8 QBE Insurance Group Limited Australia NAU Holding Company, LLC U.S. 565.0
9 HealthSpring, Inc. U.S. Bravo Health, Inc. U.S. 545.0
10 ACE Limited Switzerland New York Life Insurance subsidiaries U.S. 425.0

(1) Target is a U.S.-domiciled insurance underwriter. List does not include terminated deals.
(2) At announcement.

Source: SNL Financial LC.