Insurance Brokers M&A » By The Online Investor Staff, updated Mon., Jan. 24, 2:32 AM
Recent mergers and acquisitions in the Insurance Brokers M&A category.
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Slide #36. American Financial Group, Inc. — Summit Holdings Southeast, Inc.
Acquirer:
American Financial Group, Inc. (NYSE:AFG)
Acquiree:
Summit Holdings Southeast, Inc.
Details:
American Financial Group, Inc. (NYSE/NASDAQ:AFG) today announced that it has reached a definitive agreement to acquire Summit Holdings Southeast, Inc. and its related companies (together, "Summit"), from Liberty Mutual Insurance in an all-cash transaction. Based in Lakeland, FL, Summit is a leading provider of workers' compensation solutions in the Southeastern United States, with approximately $520 million of premium written. Following the transaction, Summit will continue to operate under the Summit brand as a member of AFG's Great American Insurance Group.
American Financial Group is a holding company. Through its subsidiary, Great American Insurance Group, Co. is engaged primarily in property and casualty insurance, focusing on commercial products for businesses, and in the sale of fixed, fixed-indexed and variable-indexed annuities in the retail, financial institutions, broker-dealer and registered investment advisor markets. Co.'s property and casualty insurance segments consist of property and transportation, specialty casualty, and specialty financial. Co.'s annuity segment is focused on the sale of fixed and indexed annuities in the retail, financial institutions, broker-dealer and registered investment advisor markets.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 20th percentile
(ranked lower than approx. 80% of all stocks covered)
Analysts' Target Price: AFG Stock Forecast Based on Zacks ABR data; powered by Xignite |
