FedNat pulling out of non-Florida markets; Lemonade buying Metromile

Life and health

Independence Holding Company agreed to be acquired by Geneve Holdings Inc. in a going-private transaction. Holders of Independence Holding's outstanding common shares, excluding shares held by Geneve, will receive $57.00 per share in cash.

Great-West Lifeco Inc. is committing to achieve net-zero greenhouse gas emissions by 2050 for both operations and investments, with interim science-based targets to be announced in 2022.

Newly public Jackson Financial Inc. is commencing a regular quarterly cash dividend after its board of directors approved a cash dividend of 50 cents per class A and class B common share for the fourth quarter.

Oscar Health Inc.'s higher-than-anticipated consolidated medical loss ratio of 99.7% in the third quarter was partly driven by higher-than-expected net core utilization and special enrollment growth, CEO Mario Schlosser said during an earnings call.

Managed Care

Anthem Inc. is acquiring New York-based Integra Managed Care from a wholly owned indirect subsidiary of Personal Touch Holding Corp. for undisclosed terms.

Multiline

The Hartford Financial Services Group Inc. expects to shed all tar sands investments by the end of 2021, two years ahead of schedule.

Property and casualty

Lemonade Inc. agreed to acquire Metromile Inc. in an all-stock transaction that implies a fully diluted equity value of approximately $500 million, or just more than $200 million net of cash.

FedNat Holding Co. is refocusing its operations on the Florida homeowners market and pulling out of all non-Florida markets.

Westfield Insurance Co. subsidiary Westfield Specialty is acquiring the renewal rights of Argo Group International Holdings Ltd.'s U.S. property, shared and layered property business, effective Jan. 1, 2022.

HCI Group Inc. subsidiary TypTap Insurance Group Inc. publicly filed a registration statement for the proposed IPO of its common stock.

RLI Corp.'s board appointed Craig Kliethermes president and CEO and Jennifer Klobnak COO, effective Jan. 1, 2022.

Reinsurance

PartnerRe Ltd. reported third-quarter net income available to common shareholders of $69.8 million, down from $206.4 million in the prior-year period.

The Allstate Corp. is sponsoring a $350 million Sanders Re II Ltd. series 2021-2 catastrophe bond, Artemis reported.

Radian Group Inc. subsidiary Radian Guaranty Inc. secured $484 million of fully collateralized excess of loss reinsurance coverage through the Eagle Re 2021-2 Ltd. insurance-linked notes transaction.

Compre Holdings Ltd. closed its acquisition of a $417 million legacy liability portfolio of SiriusPoint Ltd. after getting all regulatory approvals.

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