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Weekly news: UnitedHealth divesting DaVita Medical; Guy Carpenter wins key role

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Weekly news: UnitedHealth divesting DaVita Medical; Guy Carpenter wins key role

Life and health

Aflac Inc. is expecting a decline of as much as 50% in Japan Post group channel sales for the rest of 2019, versus a "very strong" 2018, but its cancer policies continue to be sold through the postal channel.

Managed care

Cigna Corp. is considering a sale of its group benefits insurance business, Reuters reported, citing four people familiar with the matter.

UnitedHealth Group Inc. will divest DaVita Medical Group's healthcare provider organization to Intermountain Healthcare Inc. at the behest of the U.S. Federal Trade Commission. The FTC flagged the healthcare provider organization as an area of overlap in UnitedHealth's $4.34 billion acquisition of DaVita Inc.'s DaVita Medical Group, which closed in June.

Property and casualty

Atlas Financial Holdings Inc. identified "value maximizing" strategic activities for shareholders, including regaining full compliance with Nasdaq's listing requirements. The company previously received a delinquency notice and a determination letter from Nasdaq for failing to timely file its Form 10-K for the year ended Dec. 31, 2018, and its Form 10-Q for the quarter ended March 31.

Goldman Sachs Group Inc. is mulling a sale of auto warranty company Safe-Guard Products International LLC, but there is no certainty a deal will be announced, Reuters reported, citing sources familiar with the matter.

Insurance broker

Randall & Quilter Investment Holdings Ltd. sealed a reinsurance agreement to assume the legacy liabilities from the Bermuda-domiciled captive of a U.S.-based airline.

Private equity company ABRY Partners LLC agreed to buy Lake Forest, Calif.-based Portfolio Holding Inc. from New York-based Capital Z Partners LP for undisclosed terms.

Reinsurance

Guy Carpenter & Co. LLC was selected as the sole reinsurance intermediary for the $21 billion California wildfire fund, which is currently being administered by the California Earthquake Authority.

Hamilton Insurance Group has acquired Pembroke Managing Agency Ltd. and its platform at Lloyd's, as well as Ironshore Europe DAC, from Liberty Mutual Holding Co. Inc. The acquirer also named Tony Ursano group CFO.

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