Largest Publicly Traded Banking Companies Ranked by EPS Growth
March 06, 2003, 10:08 a.m. EST 1 Min Read
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Largest Publicly Traded Banking Companies Ranked by EPS Growth
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| Published February 26, 2003 | |||||
| Buyer | Target | Announced | Region | Price | |
| 1 | Manulife Financial Corp. | Canada Life Financial Corp.1 | Dec. 11 | Canada | $4,100,000 |
| 2 | Anthem Inc. | Trigon Healthcare Inc. | Apr. 29 | U.S. | 4,000,000 |
| 3 | DnB Holding ASA | Storebrand ASA2 | May 28 | W. Europe | 1,940,000 |
| 4 | Societa Assicuratrice Industriale SpA | La Fondiaria SpA | May 30 | W. Europe | 1,687,000 |
| 5 | Prudential Financial Inc. | American Skandia Inc. | Dec. 20 | U.S. | 1,265,000 |
| 6 | Grupo Financiero Banamex | Seguros Banamex Aegon6 | Jan. 18 | Mexico | 1,240,000 |
| 7 | HCA Inc. | Health Midwest | Oct. 16 | U.S. | 1,125,000 |
| 8 | Insurance Australia Group Ltd. | CGU and NZI Insurance | Oct. 17 | Asia Pacific | 1,020,000 |
| 9 | MetLife Inc. | Aseguradora Hidgalgo SA | May 24 | Mexico | 965,000 |
| 10 | Tryg I Danmark | Tryg 3 | Jun. 19 | W. Europe | 830,000 |
| 11 | Hanwha Consortium | Korea Life Insurance7 | Jan. 24 | Asia Pacific | 757,000 |
| 12 | HSBC Holding PLC | Ping An Insurance8 | Oct. 8 | Asia Pacific | 600,000 |
| 13 | Toro | La Fondiaria SpA2 | Jan. 10 | W. Europe | 563,000 |
| 14 | UnitedHealth Group | AmeriChoice | Jun. 18 | U.S. | 560,000 |
| 15 | Express Scripts Inc. | National Prescription Administrators4 | Feb. 6 | U.S. | 515,000 |
| 16 | mgmt buyout backed by Peter Wood of Esure | Cox Insurance1,2 | Dec. 11 | W. Europe | 491,000 |
| 17 | Euler SA | Hermes Kreditversicheirung AG | Jan. 31 | W. Europe | 460,900 |
| 18 | CVC Capital Partners | Kwik-Fit Insurance Services | Aug. 15 | W. Europe | 458,000 |
| 19 | Clark/Bardes Consulting | Long, Miller & Associates LLC | Sept. 26 | U.S. | 405,000 |
| 20 | ING Group NV | Sul America Seguros10 | Mar. 27 | Brazil | 400,000 |
| 21 | Macquarie Bank Ltd. | Axa Health Insurance | Jun. 5 | Asia Pacific | 339,740 |
| 22 | Midland National Life Insurance Co. | Clarica U.S. Inc. | Oct. 22 | U.S. | 286,000 |
| 23 | Groupama SA | CGU Courtage | Mar. 13 | W. Europe | 262,600 |
| 24 | Delta Lloyd | ABN Amro NV Insurance unit | Nov. 27 | W. Europe | 260,700 |
| 25 | Hilb, Rogal & Hamilton Co. | Hobbs Group5 | May 13 | U.S. | 244,000 |
| 26 | Groupama | Plus Ultra Compania Anonima de Seguros | Jul. 9 | W. Europe | 241,700 |
| 27 | Ardent Health Services | Lovelace Health Systems | Jul. 1 | U.S. | 235,000 |
| 28 | Sompo Japan Insurance Inc. | Taisei Fire and Marine Insurance Co. | Oct. 31 | Asia Pacific | 225,000 |
| 29 | AIG Orix Corp. | Fuji Fire and Marine Insurance Co.9 | Feb. 21 | Asia Pacific | 223,000 |
| 30 | RBC Liberty Insurance | Business Mens Assurance Co. of America | Apr. 30 | U.S. | 220,000 |
| 31 | ING Group | Banco Bital9 | Jul. 31 | Mexico | 200,000 |
| 32 | Lago Achte led by Dr. Kann | Gerling Global Re | Nov. 27 | W. Europe | 199,000 |
| 33 | Friends Provident Life and Pensions Ltd. | Royal and Sun Alliance Intl Finl Services | Jun. 11 | W. Europe | 194,000 |
| 34 | Wellington Underwriting | Exali Reinsurance Holdings9 | Dec. 5 | W. Europe | 194,000 |
| 35 | Commerzbank | La Fondiaria9 | Feb. 15 | W. Europe | 182,700 |
| 36 | Mederic | Adeslas | Jan. 22 | W. Europe | 177,000 |
| 37 | Swiss Life/Rentenanstalt | Fortis France SA2 | Feb. 11 | W. Europe | 175,000 |
| 38 | Pillar Foundation Group | Financial Industries Corp. | Dec. 11 | U.S. | 172,000 |
| 39 | Inviva Inc. | Conseco Variable Insurance Co. | Jul. 19 | U.S. | 160,000 |
| 40 | Ace Ltd. | Huatai Insurance | May 28 | Asia Pacific | 150,000 |
| 41 | Allianz | Slovenska Poinstovna | Jan. 24 | E. Europe | 130,000 |
| 42 | MetLife | Reinsurance Group of America9 | Jan. 31 | U.S. | 125,000 |
| 43 | HBOS and Lloyds TSB | Admiral Insurance | Oct. 15 | W. Europe | 123,000 |
| 44 | Assicurazioni Generali SpA | Europ Assistance Holding | Oct. 2 | W. Europe | 122,000 |
| 45 | Amerigroup Corp. | PHP Holdings Inc. | Aug. 22 | U.S. | 121,000 |
| 46 | Higos Insurance Services Ltd. | Insurancevillage PLC | Feb. 14 | W. Europe | 114,000 |
| 47 | Achmea Holding NV | Royal and Sun Alliance Schadeverzekering | May 17 | W. Europe | 112,000 |
| 48 | Banca Intesa | Carivita | Dec. 26 | W. Europe | 110,000 |
| 49 | Societe Mutuelle des Administration Publiques | Naviga SA | Jul. 10 | W. Europe | 108,000 |
| 50 | GMAC Insurance Holdings | ABA Seguros | Jan. 23 | Mexico | 100,000 |
| 51 | Investco Inc. | Mercury Surety and Insurance Co. | Mar. 7 | U.S. | 100,000 |
| 52 | Baloise Group | Royal and Sun Alliance Holding GmbH | Nov. 22 | W. Europe | 96,000 |
| 53 | GE Edison Life Insurance Co. | Saison Life Insurance Co. | Feb. 8 | Asia Pacific | 95,700 |
| 54 | Canada Life Financial Corp. | Royal and Sun Phoenix Assurance | Jul. 30 | W. Europe | 94,000 |
| 55 | RenaissanceRe Ltd. | Platinum Underwriters Holdings Ltd.9 | Sept. 23 | U.S. | 91,100 |
| 56 | Basler Deutschland | Securitas | Nov. 28 | W. Europe | 89,600 |
| 57 | HSBC Insurance | Keppel Insurance-Singapore | Dec. 19 | Asia Pacific | 88,000 |
| 58 | Uniqa Versicherung AG | MLP Osterreich | Jul. 5 | E. Europe | 82,800 |
| 59 | Mapfre | Seguros Tepeyac | Mar. 11 | Mexico | 79,600 |
| 60 | Ardent Health Services | St. Joseph Healthcare | Sept. 7 | U.S. | 77,000 |
| 61 | Millennium Consolidated Investments Ltd. | Alexander Forbes Ltd. | Sept. 18 | Asia Pacific | 76,700 |
| 62 | StanCorp Financial Group Inc. | Teachers Insurance and Annuity Assn. | May 29 | U.S. | 75,000 |
| 63 | Consorcio Financiero SA | CNA Holdings Ltd. | Mar. 26 | Chile | 73,100 |
| 64 | Cattolica Assicurazioni | Casualtysa di Risparmio di S Miniato | Oct. 14 | W. Europe | 71,000 |
| 65 | Piraeus Bank | Nationale-Nederlanden Greece9 | Jan. 21 | W. Europe | 68,000 |
| 66 | Amlin PLC | names buyout | Aug. 3 | W. Europe | 67,900 |
| 67 | Mittel | La Fondiaria9 | Feb. 15 | W. Europe | 64,600 |
| 68 | Brown & Brown Inc. | Cal-Surance Associates Inc. | Oct. 23 | U.S. | 64,400 |
| 69 | Aviva PLC | Cofco-Joint Venture | Jul. 30 | Asia Pacific | 60,000 |
| 70 | Cattolica Assicurazioni | Duomo Assicurazioni, Duomo Previdenza9 | Jul. 23 | W. Europe | 56,600 |
| 71 | ProAssurance Corp. | Meemic Holdings Inc. | Jul. 9 | U.S. | 56,300 |
| 72 | Universal American Financial Corp. | Pyramid Life Insurance Co. | Dec. 31 | U.S. | 56,000 |
| 73 | Mederic | Avivas French group life business | Nov. 28 | W. Europe | 55,800 |
| 74 | Allianz AG | Slovenska Poistovna9 | Jul. 3 | W. Europe | 53,000 |
| 75 | Max Re Capital Ltd. | DaVinci Re Holdings Ltd. | Jan. 9 | U.S. | 50,000 |
| 76 | Banco de Credito e Inversiones SA | BCI Corredores de Seguros | Aug. 7 | Chile | 50,000 |
| 77 | Great American Financial Resources | Manhattan National Life Insurance | Mar. 14 | U.S. | 48,500 |
| 78 | Protective Life Insurance Co. | Conseco Variable Insurance Co. | Apr. 2 | U.S. | 48,500 |
| 79 | Nova Trade | Astra | Jul. 25 | E. Europe | 45,500 |
| 80 | Kindred Healthcare Inc. | Specialty Healthcare Services Inc. | Apr. 2 | U.S. | 45,000 |
| 81 | Trinity Universal Insurance Co. | Kemper Individual and Family Group | Apr. 11 | U.S. | 45,000 |
| 82 | CGNU PLC | Dao Heng Assurance | Feb. 19 | Asia Pacific | 44,000 |
| 83 | Logan Consultants Ltd. | Hastings Insurance Services Ltd. | Aug. 30 | Asia Pacific | 42,000 |
| 84 | unnamed buyer | Sequoia Insurance Co. | Oct. 22 | U.S. | 40,000 |
| 85 | European Reinsurance Co. of Zurich | Trenwick Group Ltd.9 | Sept. 6 | W. Europe | 40,000 |
| 86 | Swinton Group | Colonnade Insurance Brokers | May 30 | W. Europe | 39,500 |
| 87 | NikOil | Industrial Insurance Co. | Jan. 17 | E. Europe | 38,000 |
| 88 | Hub International Ltd. | Fifth Third Insurance Services | Dec. 31 | U.S. | 37,000 |
| 89 | Erste Osterreichische AVS | Ceska Soritelna | Jul. 10 | E. Europe | 37,000 |
| 90 | Capital Title Group Inc. | Nations Holding Group | Jun. 12 | U.S. | 35,000 |
| 91 | CGI Group Inc. | Underwriters Adjustment Bureau Ltd. | Nov. 12 | Canada | 33,400 |
| 92 | Express Scripts Inc. | Phoenix Marketing Group Inc. | Feb. 25 | U.S. | 33,000 |
| 93 | SoftNet Systems Inc. | First Standard Holdings Corp. | Jul. 30 | U.S. | 31,900 |
| 94 | Union Insurance Co. | China Mariners Assurance Corp. | May 20 | Asia Pacific | 31,000 |
| 95 | Fairfax Financial Holdings | First Capital Insurance Ltd. | Mar. 23 | Canada | 30,000 |
| 96 | Meliorbanca | Arca Vita, Arca Assicurazioni9 | Jul. 1 | W. Europe | 28,800 |
| 97 | Winterthur Life | Premier Life Luxembourg, Premier Life Bermuda | May 28 | W. Europe | 27,800 |
| 98 | Millea Holdings Inc. | Newa Insurance Co.9 | Oct. 31 | Asia Pacific | 27,630 |
| 99 | APS Healthcare Bethesda Inc. | Innovative Resources Group | Apr. 1 | U.S. | 27,000 |
| 100 | BNCCorp Inc. | Milne & Co. | Mar. 28 | U.S. | 26,500 |
| 101 | Northern Homelands Co. | Caliber One Indemnity Co. | Sept. 20 | U.S. | 26,500 |
| 102 | Evergreen Group | Central Reinsurance Corp. | Jul. 4 | Asia Pacific | 26,400 |
| 103 | Tokio Marine Insurance Malaysisa Bhd. | Amanah General Insurance Bhd. | Feb. 20 | Asia Pacific | 26,190 |
| 104 | Fineco Group | Cisalpina Previdenza9 | Dec. 5 | W. Europe | 25,050 |
| 105 | Berkley Insurance Co. | Kiln PLC | May 2 | W. Europe | 25,000 |
| 106 | South-East Asia Insurance Bhd. | Overseas Union Insurance Bhd.-Malaysia | May 7 | Asia Pacific | 24,680 |
| 107 | Kingsway Financial Services Inc. | American Country Holdings | Feb. 27 | U.S. | 24,000 |
| 108 | Commercial Bank of China | Tai Ping Insurance9 | Mar. 26 | Asia Pacific | 22,600 |
| 109 | Indiana Farm Bureau Insurance | Agway Insurance Co. | Jun. 14 | U.S. | 21,000 |
| 110 | Contract Sofia | State Insurance Institute | Jul. 3 | E. Europe | 20,170 |
| 111 | First Health Group Corp. | Claims Administration Corp. | Jun. 4 | U.S. | 20,000 |
| 112 | Liberty Mutual Insurance Co. | ABN Amro-Colombia insurance unit | Oct. 21 | Colombia | 20,000 |
| 113 | Prudential Financial Inc. | Prudential-Bradesco Seguros | Jan. 17 | Brazil | 19,700 |
| 114 | Aktiv Kapital ASA | Storebrand Finans | Jan. 2 | W. Europe | 19,600 |
| 115 | American Medical Security | American Medical Security Group Inc.9 | Mar. 20 | U.S. | 18,200 |
| 116 | BNC Insurance Inc. | Milne Scali & Co. | Apr. 3 | U.S. | 18,000 |
| 117 | Coventry Health Care Inc. | PersonalCare Health Mgmt Inc. | Dec. 18 | U.S. | 18,000 |
| 118 | Citizens Inc. | First Alliance Corp. | Nov. 12 | U.S. | 17,200 |
| 119 | Manulife Financial Corp. | OUB Manulife | Jul. 22 | E. Europe | 17,000 |
| 120 | Direct Line Group Ltd. | Royal Insurance | Jan. 29 | W. Europe | 16,900 |
| 121 | Rimac International | Wiese Aetna | Dec. 13 | Peru | 15,000 |
| 122 | Chubb Global Financial Services | HDFC Chubb General Insurance Co9 | Jul. 8 | Asia Pacific | 15,000 |
| 123 | Zenith Insurance Co. | Advent Capital PLC | Aug. 23 | W. Europe | 15,000 |
| 124 | Friends Provident | Tenet Group8 | May 3 | W. Europe | 13,800 |
| 125 | Norwich Union | Tenet Group8 | May 3 | W. Europe | 13,800 |
| 126 | Alfa Financial Corp. | MidCountry Financial Corp.9 | Aug. 30 | U.S. | 13,500 |
| 127 | Clal Insurance | Israel Land Develeopment Insurance | Dec. 11 | Asia Pacific | 13,500 |
| 128 | Tower-Ed Sdn Berhad | EON CMG Life Assurance Bhd. | Jul. 1 | Asia Pacific | 12,800 |
| 129 | Allgemeiner Wirtschaftsdienst | Finanz.EU, ECG | Jul. 25 | E. Europe | 12,700 |
| 130 | Hana Bank | Allianz France Life | Jan. 24 | Asia Pacific | 12,000 |
| 131 | Thai Life Insurance Group | CGU Life Assurance Co. | Aug. 20 | Asia Pacific | 11,800 |
| 132 | undisclosed private equity group | WellCare Mgmt Group Inc. | May 17 | U.S. | 11,750 |
| 133 | Capital Alliance | Saambou Life | Jun. 26 | Asia Pacific | 10,900 |
| 134 | Nipponkoa Insurance Co. | LPI Capital Bhd9 | Jan. 24 | Asia Pacific | 10,700 |
| 135 | Helvestar SA | Kenya Reinsurance Corp.2 | Aug. 20 | Asia Pacific | 10,500 |
| 136 | Ergo Versicherung | OAO Rus | Aug. 29 | E. Europe | 10,000 |
| 137 | Interseguro Compania de Seguros de Vida | Santander Seguros de Vida Central Hispano | Nov. 14 | Peru | 9,100 |
| 138 | Hooper Holmes Inc. | Medicals Direct Group PLC | Jul. 24 | W. Europe | 9,000 |
| 139 | Navakij Insurance PCL | Thai Commercial Insurance PCL | Aug. 23 | Asia Pacific | 9,000 |
| 140 | Chaucer Holdings PLC | Nuclear Syndicate 1176 - mgmt role | Dec. 13 | W. Europe | 8,100 |
| 141 | Hardy Underwriting Group | Atrium Underwriting9 | Oct. 31 | W. Europe | 7,600 |
| 142 | SunStar Ensure | Royal and Sun Alliance Insurance Bahamas | Oct. 18 | W. Europe | 7,000 |
| 143 | Liberty Group | Hightree Financial Services | Oct. 1 | W. Europe | 6,700 |
| 144 | Clerical Medical | Misys Assureweb | Jul. 29 | W. Europe | 6,000 |
| 145 | Hercules Property Services PLC | DOR Northern Ltd. | Feb. 7 | W. Europe | 5,634 |
| 146 | Chilean Construction Assn. | Royal and SunAlliance-Colombia9 | Sept. 26 | Colmbia | 5,000 |
1 Hostile bid
2 Terminated transaction
3 Deal value includes 760 million euros in cash and 90 million euros in contingency payment.
4 Price was adjusted from $515 million to $450 million as a result of terms of the agreement.
5 Price includes $142 million fixed amount and contingency payment of $102 million.
6 48% stake
7 51% stake
8 10% stake
9 Minority stake
Source: Thomson Financial Insurance Solutions
© 2003 American Banker