Risk and regulation
A sharp jump in interest rates after a prolonged period of ultra-loose monetary policy could trigger solvency and liquidity problems at insurers and pension funds, the Bank for International Settlements has warned.
California Insurance Commissioner Dave Jones mandated insurance companies writing workers' compensation in the state to report their savings from the recent U.S. tax cuts on an annual basis.
Guggenheim Partners LLC is facing a lawsuit for allegedly deceiving annuity investors of insurance affiliates and siphoning cash out of Security Benefit Life Insurance Co. to purchase the Los Angeles Dodgers baseball team.
Florida-based Patriot National Inc. emerged from Chapter 11 bankruptcy protection with a new ownership structure.
Property and casualty
Marsh & McLennan Agency LLC acquired Rockville, Md.-based Insurance Associates and bought St. Paul, Minn.-based Klein Agency Inc.
Hub International Ltd. acquired the assets of The Right Choice Insurance Agency Inc., which also operates as Woodward Insurance Group.
S&P Global Ratings lowered its long-term issuer credit rating on Birmingham, Ala.-based Infinity Property & Casualty Corp. to BBB- from BBB and the financial strength ratings on the company's operating subsidiaries to A- from A with a stable outlook.
Traditional reinsurers are having to get tougher on unprofitable business as they adapt to strong competition for property-catastrophe reinsurance business, according to reinsurance broker Willis Re.
Life and health
Oklahoma-based insurance broker INSURICA Inc. acquired Austin, Texas-based employee benefits provider Employer Solutions Group, effective June 1, Insurance Journal reported.
Brown & Brown Inc. acquired Health Special Risk Inc., a provider of third-party claims administration and managing general underwriting services for special risk and accident and health insurance.
Following federal and state regulatory approvals, Centene Corp. completed its $3.75 billion deal for substantially all of the assets of Fidelis Care.
Insurers eye new association health plans with long-term caution
'Outside of the box' thinking might draw Athene, Apollo to GE insurance ops