M&A Deal Summary

Munich Re Acquires The Hartford Steam Boiler Inspection and Insurance

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

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

M&A Deal Summary

Date 2008-12-22
Target The Hartford Steam Boiler Inspection and Insurance
Sector Insurance
Buyer(s) Munich Re
Sellers(s) HSB Group
Deal Type Divestiture
Deal Value 742M USD

Target

The Hartford Steam Boiler Inspection and Insurance

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(S) 1

Buyer

Munich Re

Munich, Germany

Category Company
Founded 1880
Sector Insurance
Employees42,838
Revenue 60.1B EUR (2023)
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 STATS #
Overall 6 of 10
Sector (Insurance) 5 of 6
Type (Divestiture) 2 of 2
State (Connecticut) 1 of 1
Country (United States) 3 of 6
Year (2008) 2 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-30 Roanoke

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(S) 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 STATS #
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