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Weekly news: Michael losses hit $4.5B in Florida; Japan Post buys into Aflac


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Weekly news: Michael losses hit $4.5B in Florida; Japan Post buys into Aflac

Property and casualty

Bermuda-based RenaissanceRe Holdings Ltd. will partner with Dutch pension fund manager and service provider PGGM Coöperatie U.A. to launch property catastrophe reinsurer Vermeer Reinsurance Ltd.

Total insured losses from Hurricane Michael have reached $4.53 billion in Florida, according to the state's insurance regulator.

Epic Holdings Inc. agreed to buy Integro Holdings Inc. for undisclosed financial terms.

Arthur J. Gallagher & Co. this week acquired Conshohocken, Pa.-based Preston-Patterson Co. Inc and also Southaven, Miss.-based Pointer Insurance Agency Inc.

Program specialist ProSight is seeking to go public in the U.S. within the first six months of 2019, Insurance Insider reported.

Assurant Inc.'s global housing segment could see reportable pretax catastrophe losses of between $110 million and $150 million in the fourth quarter.

Life and health

Aflac Inc. confirmed that Japan Post Holdings Co. Ltd. will purchase approximately 7% of its outstanding common shares.

Cigna Corp. completed its previously announced acquisition of Express Scripts Holding Co.

MetLife Inc. agreed to pay a $1 million administrative fine to settle allegations that it made materially misleading statements in public filings to investors and failed to pay pension benefits to tens of thousands of retirees it improperly treated as "presumed dead."

UnitedHealth Group Inc.'s Optum and DaVita Inc. agreed to cut the sale price of DaVita Medical Group to $4.34 billion.

FGL Holdings appointed Christopher Blunt president and CEO, succeeding Christopher Littlefield.

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