M&A Deal Summary

PNC Acquires National City Insurance Group

On December 31, 2008, PNC acquired insurance company National City Insurance Group

Acquisition Highlights
  • This is PNC’s 2nd transaction in the Insurance sector.
  • This is PNC’s 8th transaction in the United States.
  • This is PNC’s 2nd transaction in Ohio.

M&A Deal Summary
Date 2008-12-31
Target National City Insurance Group
Sector Insurance
Buyer(s) PNC
Deal Type Add-on Acquisition

Target

National City Insurance Group

Cleveland, Ohio, United States
National City Insurance Group is a provider of various insurance products in the United States.

Search 201,292 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

PNC

Pittsburgh, Pennsylvania, United States
Category Company
Founded 1852
Sector Financial Services
Employees53,932
Revenue 21.5B USD (2023)
DESCRIPTION
PNC's corporate headquarters in downtown Pittsburgh, Pennsylvania.
PNC's corporate headquarters in downtown Pittsburgh, Pennsylvania.

PNC is a diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services. PNC was formed in 1922 and is based in Pittsburgh, Pennsylvania. PNC was founded in 1852 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 8 of 17
Sector (Insurance) 2 of 2
Type (Add-on Acquisition) 8 of 14
State (Ohio) 2 of 2
Country (United States) 8 of 17
Year (2008) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-31 National City

Cleveland, Ohio, United States

National City Corp. is a mortgage banking organization with over 300 offices. The Company provides mortgage services and is now a part of PNC.

Buy $5.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-01 Albridge

Pennington, New Jersey, United States

Albridge is a provider of data management and financial technology solutions for financial services companies. Using patent-pending, state-of-the-art technology, Albridge Solutions collects, cleanses, and normalizes the transaction and position-level securities data it receives from settlement and clearing firms, data custodians, product companies as well as internal proprietary systems. Albridge was founded in 1999 and is based in Pennington, New Jersey.

Buy -
Mergr

Product

Company

Legal