M&A Deal Summary

White Mountains Acquires Central National Insurance Company of Omaha

On January 22, 2010, White Mountains acquired insurance company Central National Insurance Company of Omaha from Drum Financial for 5M USD

Acquisition Highlights
  • This is White Mountains’ 7th transaction in the Insurance sector.
  • This is White Mountains’ 8th largest (disclosed) transaction.
  • This is White Mountains’ 3rd transaction in the United States.
  • This is White Mountains’ 1st transaction in Nebraska.

M&A Deal Summary
Date 2010-01-22
Target Central National Insurance Company of Omaha
Sector Insurance
Buyer(s) White Mountains
Sellers(s) Drum Financial
Deal Type Divestiture
Deal Value 5M USD

Target

Central National Insurance Company of Omaha

Omaha,, Nebraska, United States
Central National Insurance Co. of Omaha operates as an insurance company engaged in servicing existing policies and claims.

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Buyer(S) 1

Buyer

White Mountains

Hamilton, Bermuda
Category Company
Founded 1980
Sector Insurance
Employees782
Revenue 2.2B USD (2023)
DESCRIPTION

White Mountains is a domiciled financial services holding company with business interests in property and casualty insurance and reinsurance. White Mountains was founded in 1980 and is based in Hamilton, Bermuda.

DEAL STATS #
Overall 7 of 22
Sector (Insurance) 7 of 19
Type (Divestiture) 3 of 12
State (Nebraska) 1 of 2
Country (United States) 3 of 17
Year (2010) 1 of 1
Size (of disclosed) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-26 Helicon Re Holdings

Hamilton, Bermuda

Helicon Re Holdings Ltd. is a specialty reinsurer focused on the property excess and marine excess reinsurance market.

Buy $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-18 Esurance Insurance Services

San Francisco, California, United States

Esurance Insurance Services, a provider of online auto insurance quotes through an award-winning website, and combines best-in-class technology developed specifically for the needs of self-directed and brand-sensitive consumers with a 24/7 call center.

Sell -

Seller(S) 1

SELLER

Drum Financial

United States
Category Company
Founded 1990
Sector Insurance
DESCRIPTION

Drum Financial Corporation operates as an insurance holding company, which offers sales, underwriting, consumer credit life, property, and casualty insurance services.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Nebraska) 1 of 1
Country (United States) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
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