Life and health
Voya Financial Inc. has agreed to integrate certain assets and teams comprising the substantial majority of Allianz Global Investors' U.S. business, Allianz Global Investors U.S. LLC, with Voya Investment Management LLC.
Genstar Capital LLC made a strategic investment in AmeriLife Group LLC for undisclosed terms.
Benefytt Technologies Inc. appointed Todd Baxter CEO, effective June 20.
Managed care
Centene Corp. is reducing its real estate footprint after reviewing its real estate book. The company also raised its 2022 full-year guidance to reflect favorable second-quarter performance to date and increased Medicaid premium revenue.
Cigna Corp. will buy back $3.5 billion of common stock through accelerated stock repurchase agreements.
Multiline
Southern Fidelity Insurance Co. Inc. has been placed in receivership and is being liquidated. A Leon County, Fla., Circuit Court judge has ordered the state's Department of Financial Services to act as receiver of the insurer.
The sale process for Aquiline Holdings LP-owned Relation Insurance Services Inc. will formally launch after July 4, Inside P&C reported, citing sources.
Property and casualty
The Federal Emergency Management Agency is proposing to drop flood insurance for frequently flooding properties and deny coverage for homes in the most flood-prone areas, The Wall Street Journal reported.
Tokio Marine Kiln Group Ltd. announced the sale of Highland Insurance Solutions, Tokio Marine Highland's U.S. construction division, to Intact Insurance Group USA LLC. The transaction is expected to close in the second half of 2022.
United Property & Casualty Insurance Co. agreed to sell the renewal rights to its Write Your Own flood insurance business under the National Flood Insurance Program to Wright National Flood Insurance Co.
The Allstate Corp.'s estimated catastrophe losses for May were $436 million, or $344 million after tax. Pretax catastrophe losses for April and May totaled $752 million.
Metromile Inc. and Lemonade Inc. received approval from the U.S. Department of Justice for their proposed merger.
GuideOne Insurance Co. appointed Bernard Hengesbaugh CEO.
Mosaic Insurance Holdings Inc. named Caroline Foulger as its board chair.
Reinsurance
Canopius Group Ltd. is seeking at least $75 million of multiyear catastrophe reinsurance protection against named storms and earthquakes in the U.S. through the Finca Re Ltd. series 2022-1 catastrophe bond, Artemis reported.
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