Colonnade advises First Bank on its sale of Universal Premium Acceptance Corporation to Premium Financing Specialists
December 31, 2009
First Bank of Clayton, Missouri completed the sale of its insurance premium finance subsidiary, Universal Premium Acceptance Corporation (“UPAC”), to Premium Financing Specialists, Inc. (“PFS”) of Kansas City, Missouri. Terms of the transaction were not disclosed.
Founded in 1954, UPAC is one of the ten largest insurance premium finance companies in the United States. PFS is the largest independent premium finance provider in the nation.
Colonnade Securities LLC served as exclusive financial advisor to First Bank and UPAC.
Colonnade advises Webster Financial on its sale of Budget Installment Corporation to Texas Capital Bancshares, Inc.
November 2, 2009
Webster Financial Corporation (NYSE: WBS) of Waterbury, Connecticut has completed the sale of its insurance premium finance subsidiary, Budget Installment Corporation, to Texas Capital Bancshares, Inc. (NASDAQ: TCBI) of Dallas, Texas. Terms of the transaction were not disclosed.
Texas Capital Bancshares owns BankDirect Capital Finance, a leading insurance premium finance company in the U.S.
Colonnade Securities LLC served as exclusive financial advisor to Webster Financial and Budget on the transaction.
Colonnade advises Aon on its sale of Cananwill – Australia to Allianz Group
July 31, 2009
Aon Corporation (NYSE: AOC) of Chicago, Illinois has completed the sale of the Australian business of its insurance premium finance subsidiary Cananwill, Inc. to Allianz Group (ETR: ALV) of Munich, Germany. Terms of the transaction were not disclosed.
Allianz owns Hunter Premium Funding Ltd, a leading premium finance company in Australia and New Zealand.
Colonnade Securities LLC served as exclusive financial advisor to Aon Corporation and Cananwill on the transaction.
The Allianz Group is one of the leading integrated financial services providers worldwide. With nearly 155,000 employees worldwide, the Allianz Group serves approximately 75 million customers in about 70 countries. On the insurance side, Allianz is the market leader in the German market and has a strong international presence. More information about the company is available at
www.allianz.com.
Colonnade Advises Aon on its Sale of Cananwill’s Canadian Business to Macquarie Group
July 31, 2009
Aon Corporation (NYSE: AOC) of Chicago, Illinois has completed the sale of the Canadian business of its insurance premium finance subsidiary Cananwill, Inc. to Macquarie Group (ASX: MQG) of Sydney, Australia. Terms of the transaction were not disclosed.
Colonnade Securities LLC served as exclusive financial advisor to Aon Corporation and Cananwill on the transaction.
Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 26 countries and employs approximately 12,700 people. More information about the company is available at
www.macquarie.com.
Colonnade Advises Aon on its Sale of Cananwill’s European Businesses to Macquarie Group
July 31, 2009
Aon Corporation (NYSE: AOC) of Chicago, Illinois has completed the sale of the British and Irish businesses of its insurance premium finance subsidiary Cananwill, Inc. to Macquarie Group (ASX: MQG) of Sydney, Australia. Terms of the transaction were not disclosed.
Colonnade Securities LLC served as exclusive financial advisor to Aon Corporation and Cananwill on the transaction.
Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 26 countries and employs approximately 12,700 people. More information about the company is available at
www.macquarie.com.
Colonnade advises Aon on its sale of Cananwill (US) to BB&T
January 7, 2009
PITTSBURGH, PRNewswire-FirstCall/ -- AFCO Credit Corporation today said it plans to buy the domestic operations and assets of the premium finance business of Cananwill from Aon Corporation.
Glenview, Ill.-based Cananwill provides insurance premium financing for commercial property and casualty policies. It was founded in 1937.
AFCO is the primary insurance premium finance subsidiary of Branch Banking and Trust Company, the principal subsidiary of Winston-Salem, N.C.-based BB&T Corporation. Pending regulatory approval, the AFCO purchase is expected to be completed by the end of the first quarter. Terms were not disclosed.
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