Aetna plans to acquire Humana for $37 billion in a deal that would see Humana stockholders receive $125 in cash and 0.8375 Aetna common shares for each Humana share. After the deal, Aetna’s shareholders would own approximately 74% of the combined company and Humana’s shareholders would own approximately 26%. The combined company would have projected […]
Anthem, Inc. will acquire Cigna Corporation in a transaction valued at $54.2 billion. The deal involves Anthem purchasing all outstanding shares of Cigna in a cash and stock transaction, and Cigna shareholders receiving $103.40 in cash and 0.5152 Anthem common shares for each Cigna common share. “We are very pleased to announce an agreement that […]
It’s still a buyer’s market, according to a Marsh webcast titled “The New Reality of Risk.” Featuring experts from Marsh’s Property, Casualty, FINPRO practices, as well as its Market Information Group, the July 22 webcast confirms alternative capital and limited catastrophes are still keeping the property market competitive. Furthermore, casualty remains generally favorable for buyers […]
Specialty brokerage firm Alliant Insurance Services has acquired program underwriter and wholesale broker Preferred Concepts, its fourth MGA acquisition in 2015. Terms of the acquisition were not disclosed. Preferred Concepts, with offices in New York, New Jersey and Connecticut, provides insurance solutions to the real estate industry, offering coverages through three operating units. “As the […]
InVEST, the Independent Insurance Agents and Brokers of America’s classroom-to-career education program, awarded $77,000 in scholarships to 88 students pursuing insurance-related degrees. “InVEST congratulates the 88 students representing 32 high schools, colleges and universities in 14 states and Washington, D.C., who earned scholarships this year,” says Robert G. Slocum, InVEST board chair, and president of […]
Willis Group Holdings and Towers Watson plan to merge in an all-stock deal creating a firm with an equity value of about $18 billion. As part of the transaction, Willis shareholders will own 50.1% of the combined company, while Towers Watson will own 49.9%. Towers Watson shareholders will receive a one-time cash dividend of $4.87 […]
ACE Limited will acquire rival The Chubb Corporation for $28.3 billion, or $62.93 per share in cash and 0.6019 shares of ACE stock, the companies announced July 1. ACE used the term “complimentary” a number of times to describe the two companies in the statement announcing the planned acquisition. ACE Chairman and CEO Evan Greenberg […]
Commercial lines rate increases continued, but slowed in Q1 2015, according to Towers Watson’s latest Commercial Lines Insurance Pricing Survey (CLIPS). Rates overall were up 2% in the quarter compared to the same period a year ago, the survey notes, with increases in most individual lines in the low single digits. Commercial auto and employment […]
Tokio Marine Holdings, Inc. has agreed to acquire Houston-based specialty insurer HCC Insurance Holdings for $7.5 billion, or $78 per share. Tokyo-based Tokio Marine says the acquisition “significantly enhances [its] operations in the United States, the largest insurance market in the world, and internationally.” A Bloomberg report notes the transaction represents the biggest acquisition by […]
Senate Democrats defeated a bill designed to strengthen cybersecurity measures, objecting to Republican efforts to attach the proposal to a larger defense-policy bill, The New York Times reports. The Times article, “Senate Rejects Measure to Strengthen Cybersecurity,” written by Jennifer Steinhauer, notes that the cyber measure is similar to one that passed the House in […]
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