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Weekly news: Dorian turns to Florida; NFIP reform champion resigns from Congress

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Weekly news: Dorian turns to Florida; NFIP reform champion resigns from Congress

Life and health

Apollo Global Management LLC and Athene Holding Ltd. have agreed to buy PK AirFinance SA, an aviation lending business, from GE Capital Aviation Services Inc. Per terms of the deal, Apollo will acquire the PK AirFinance aircraft lending platform and Athene will acquire PK AirFinance's existing portfolio of loans.

Zurich Insurance Group AG is considering a divestiture of Chicago-domiciled U.S. life insurance business Zurich American Life Insurance Co., Insurance Insider reported.

Managed care

HealthEquity Inc. completed its acquisition of WageWorks Inc. HealthEquity also announced that it will invest between $80 million and $100 million over the next 24 to 36 months to improve service and strengthen data security and privacy protections.

Michigan's Priority Health and Total Health Care will merge, subject to state approval, Modern Healthcare reported.

Property and casualty

Hurricane Dorian is expected to become a major hurricane later today and is likely to remain "extremely dangerous" as it moves near the northwestern Bahamas and approaches the Florida peninsula through the Labor Day weekend, the National Hurricane Center said. As of the 11 a.m. ET intermediate advisory, a hurricane watch is in effect for the northwestern Bahamas.

A district court in Kansas has signed an order that places Physicians Standard Insurance Co. into rehabilitation. The order was signed with the consent of Physicians Standard's board.

Rep. Sean Duffy, R-Wis., a champion of National Flood Insurance Program reform, announced on Aug. 26 that he will resign from Congress, citing complications related to his wife's pregnancy.

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