Divestiture • Insurance

Munich Re Acquires The Hartford Steam Boiler Inspection and Insurance Co.

On December 22, 2008, Munich Re acquired insurance company The Hartford Steam Boiler Inspection and Insurance Co. from HSB Group for 742M USD

Acquisition Context
  • This is Munich Re’s 5th transaction in the Insurance sector.
  • This is Munich Re’s 2nd largest (disclosed) transaction.
  • This is Munich Re’s 3rd transaction in the United States.
  • This is Munich Re’s 1st transaction in Connecticut.

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M&A Deal Summary

Date December 22, 2008
Target The Hartford Steam Boiler Inspection and Insurance Co.
Sector Insurance
Buyer(s) Munich Re
Sellers(s) HSB Group
Deal Type Divestiture
Deal Value 742M USD

Target Company

The Hartford Steam Boiler Inspection and Insurance Co.

Hartford, Connecticut, United States
The Hartford Steam Boiler Inspection and Insurance Co. is an insurance and inspection company specialising in engineering risks in the USA.
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Buyer Overview 1

Buyer

Munich Re

Munich, Germany

Category Company
Founded 1880
Sector Insurance
Employees43,550
Revenue 42.3B EUR (2024)
DESCRIPTION

Munich Re is a global reinsurance company. ERGO, a Munich Re subsidiary, is the Group’s primary insurance brand. Munich Re was founded in 1880 and is based in Munich, Germany.


Deal Context for Buyer #
Overall 6 of 11
Sector: Insurance 5 of 7
Type: Divestiture 2 of 2
State: Connecticut 1 of 1
Country: United States 3 of 7
Year: 2008 2 of 2
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-30 Roanoke Co.

Chicago, Illinois, United States

Roanoke Co., Inc. is a marine insurance underwriting agency.

Buy $52M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-04 Windsor Health Group

Brentwood, Tennessee, United States

WellCare Health Plans, Inc. provides managed care services targeted to government-sponsored health care programmes, focusing on Medicaid and Medicare. Headquartered in Tampa, Florida, USA, WellCare offers a variety of health plans for families, children, and the aged, blind, and disabled, as well as prescription drug plans.

Buy $131M

Seller Profile 1

SELLER

HSB Group

Hartford, Connecticut, United States

Category Company
Founded 1997
Sector Insurance
Employees2,471
DESCRIPTION

HSB Group, Inc. is a provider of specialty insurance products, engineering services, and management consulting.


Deal Context for Seller #
Overall 1 of 1
Sector: Insurance 1 of 1
Type: Divestiture 1 of 1
State: Connecticut 1 of 1
Country: United States 1 of 1
Year: 2008 1 of 1
Size (of disclosed) 1 of 1