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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> acquisitions

Allstate closes on purchase of Esurance and Answer Financial

Posted by RJ and Makay on Oct 10, 2011

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Allstate Corp. has closed on its acquisition of Esurance and Answer Financial from White Mountains Insurance Group Ltd. for approximately $1 billion, Allstate said last Friday.  The deal, which was announced in May, is expected to be non-diluted to Allstate’s earnings in the second full year of ownership, according to the company.

Ameriprise Financial sells Securities America to Ladenburg Thalmann

Posted by RJ and Makay on Aug 17, 2011

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Ameriprise Financial Inc. (AMP) announced today that it has agreed to sell Securities America Financial Corporation and its subsidiaries to Ladenburg Thalmann Financial Services, Inc. (LTS) for $150 million in cash.  The deal is expected to close by the end of the year and will add about $450 million in annual revenue for Thalmann.  The deal includes additional payments to Ameriprise if Securities America hits performance targets in 2012 and 2013.