Farm Bureau Property & Casualty Insurance Company to Acquire FBL Financial Group for $56/Share

FB Financial Acquires Southern States Bancshares

June 30, 2025

Financial Services

FB Financial Corporation (parent of FirstBank) completed its merger with Southern States Bancshares, Inc., with Southern States shareholders receiving 0.800 shares of FB Financial common stock per share. The transaction implies an approximate equity value of $368.4 million and expands FB Financial's footprint into Alabama and Georgia; Southern States reported $2.9 billion in total assets as of March 31, 2025.

F.N.B. Corporation Acquires Howard Bancorp, Inc. (Howard Bank)

January 24, 2022

Financial Services

F.N.B. Corporation (FNB) agreed to acquire Howard Bancorp, Inc., including its wholly owned subsidiary Howard Bank, in an all-stock transaction valued at approximately $418 million (1.8 shares of FNB per Howard share). The deal expands FNB’s Mid-Atlantic footprint—adding 13 Baltimore-area branches and roughly $2.6 billion in assets—and is intended to be accretive with cost savings and enhanced product capabilities for Howard customers.

PIB Group Acquires BK Insurance Brokers

February 17, 2020

Insurance

PIB Group Limited has acquired BK Insurance Brokers, an independent Croydon-based insurance brokerage established in 1981. The business will join PIB’s Specialty division with all existing staff retained and will be led by Paul Denton as Managing Director, supporting PIB’s continued acquisition-driven growth strategy.

NFP Acquires Fallon Benefits Group, Inc.

August 16, 2021

Insurance

NFP, a leading insurance broker and consultant, acquired Fallon Benefits Group, an Atlanta-based employee benefits brokerage and consulting firm; the transaction closed July 23, 2021. The acquisition strengthens NFP's benefits capabilities and expands its middle-market expertise in the Southeast, with Fallon leadership remaining engaged post-close.

Liberty Mutual Acquires State Auto Group

July 12, 2021

Insurance

Liberty Mutual Holding Company has signed a definitive agreement to acquire State Auto Group, including the publicly traded State Auto Financial Corporation, for $52 per share. The deal expands Liberty Mutual's presence in the independent agent channel by adding roughly $2.3 billion of premium, ~3,400 independent agencies and ~2,000 associates, and is expected to close pending regulatory and shareholder approvals.

SWBC P&C Merges with SWBC RE, Ltd.

April 29, 2025

Insurance

SWBC Property and Casualty Insurance Company (SWBC P&C) has merged with sister company SWBC RE, Ltd., with SWBC P&C surviving. The internal consolidation is intended to improve operational efficiency, broaden market reach (including expansion into additional states), and strengthen the combined entity's balance sheet and reinsurance capabilities.