Latest Posts Under: Insurance industry news

Canadian Premier to acquire Gerber Life Insurance Canada business

Securian Financial Group said that its subsidiary Canadian Premier Life Insurance Company has signed a deal to acquire the Canadian block of business from Gerber Life Insurance Company for an undisclosed price. Gerber Life Insurance Company is a subsidiary of Western & Southern Financial Group. Its Canadian block of business comprises mainly Grow-Up whole life […]

Relation Insurance Services acquires employee surety firm Pope & Young

Relation Insurance Services has acquired California-based employee surety firm Pope & Young Bonding for an undisclosed price, in a move to continue the expansion of its property and casualty (P&C) platform. Headquartered in Clovis, Pope & Young Bonding is said to specialize in contract, license and permit, court, and fidelity bonds. The transaction expands the […]

Arthur J. Gallagher acquires Illinois-based Affiliated Benefit Consultants

Global insurance brokerage Arthur J. Gallagher & Co. has acquired Affiliated Benefit Consultants, an Illinois-based benefits consultant, for an undisclosed price, as per the latest insurance acquisition news. Headquartered in Oakbrook, Affiliated Benefit Consultants is said to provide a comprehensive suite of benefits consulting services to clients across the country. Affiliated Benefit Consultants was established in […]

McNeil & Company acquires LOSAP administrator Penflex

McNeil & Company, a provider of specialized risk assessment and insurance solutions, has acquired Penflex, a company which serves emergency service organizations with the actuarial and administrative services of Length of Service Award Programs (LOSAP). Financial terms of the deal were not disclosed by the parties. LOSAP are pension-like programs designed to help communities mainly […]

Fidelity National Financial to acquire life insurance group FGL Holdings

Fidelity acquisition of FGL : US title insurance company Fidelity National Financial (FNF) has signed a deal to acquire fixed indexed annuities and life insurance FGL Holdings (F&G), as per the latest insurance acquisition news. The US title insurer already owns a stake of 7.9% in FGL Holdings, and the deal to take full ownership […]

AXA to sell CEE subsidiaries to UNIQA Insurance for €1bn

French insurance giant AXA has signed a deal to divest its Poland, Czech Republic, and Slovakia businesses to UNIQA Insurance Group, an Austrian insurance company, as per the latest insurance acquisition news. As per the deal terms, AXA will offload 100% of its life and savings, property and casualty and pension businesses in Central and […]

Centene wraps up $17.3bn acquisition of WellCare Health Plans

Centene Wellcare merger : Missouri-based Centene has wrapped up its previously announced $17.3 billion acquisition of rival US health insurer WellCare Health Plans, based in Florida. The Centene Wellcare merger announcement was made in March 2019 in a move to create a new healthcare enterprise, focused on offering government-sponsored healthcare programs. The Centene Wellcare combination […]

Insurance-focused financing solutions provider Gracie Point raises $50m

Gracie Point Holdings, a provider of financing programs for the life insurance market, has raised $50 million in an investment round led by Hudson Structured Capital Management. The financing solutions provider said that it will use the capital to fund its growth in the US and Asia markets, for launching its operations in Canada, and […]

Phoenix Group to acquire ReAssure from Swiss Re for £3.2bn

Phoenix acquisition of ReAssure : Life consolidator Phoenix Group has signed a cash-cum-stock deal worth £3.25 billion to acquire UK-based life and pensions company ReAssure Group from Swiss Re, as per the latest insurance acquisition news. ReAssure Group is a life insurance closed book consolidator, which is engaged in buying and administering closed books of […]

Swiss insurer Chubb to increase stake in Huatai Insurance in $1.5bn deal

Swiss insurance company Chubb has agreed to purchase an additional stake of 15.3% of China-based Huatai Insurance Group, as per the latest insurance acquisition news. Huatai Insurance Group is the holding company of Huatai P&C Insurance Company, Huatai Life Insurance Company, and Huatai Asset Management Company, and other subsidiaries. Following the completion of the share […]

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