ManhattanLife Assurance Co. of America has agreed to acquire the workplace voluntary benefits and financial protection plan lines of business from Humana Inc. These lines of business are primarily held under Humana's wholly owned subsidiary Kanawha Insurance Co. Humana earlier agreed to sell subsidiary KMG America Corp., including KMG subsidiary Kanawha Insurance, to Continental General Insurance Co.
Validus Holdings Ltd.'s shareholders have approved the company's merger with American International Group Inc.
According to a survey conducted by the Employee Benefit Research Institute, only 32 percent of retirees feel very confident in their ability to live comfortably throughout retirement. Four in five workers were interested in investing some or all of their money in annuities. InsuranceNewsNet has a report on this.
Continuing growth of the insurance-linked securities market, catastrophe bond investors' strong appetite and ongoing alternative capital inflows into the reinsurance market will limit rate increases at the mid-year 2018 renewals, Artemis reported, citing Keefe Bruyette & Woods Inc.
Molina Healthcare Inc., CNA Financial Corp. and Kemper Corp. reported first-quarter earnings on April 30. Kemper reported adjusted consolidated net operating income of $57.5 million, or $1.10 per share, compared to a loss of $3.9 million, or 8 cents per share, in the year-ago period. The company said the results increased primarily due to lower catastrophe losses and improved underlying performance in the property and casualty division.
Allergan Q1 profit up; Sanofi, Regeneron skin cancer drug gets FDA priority tag: President Donald Trump is picking Navy physician Sean Conley as his White House doctor, replacing Rear Admiral Ronny Jackson as his physician at the White House, Politico and The New York Times reported, both citing unnamed sources. Jackson has been facing allegations that he improperly dispensed controlled substances, engaged in excessive drinking on the job and created a hostile work environment.
Financial news in other parts of the world
Asia-Pacific: Techcombank raises US$922M in IPO; AMP chairman resigns
Europe: Aviva to pay goodwill over preference share debacle; SEB Q1 profit falls 6% YOY
Middle East & Africa: First Abu Dhabi Bank Q1 profit ticks up YOY; Moody's downgrades Angola
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng was up 1.74% to 30,808.45. The Nikkei 225 lost 0.66% to 22,467.87.
In Europe as of midday, the FTSE 100 climbed 0.53% to 7,542.01, and the Euronext 100 was up 0.01% to 1,060.06.
On the macro front
The Bureau of Economic Analysis' personal income and outlays report, the Chicago Purchasing Manager Index, the National Association of Realtors' pending home sales index, and the Dallas Fed Manufacturing survey are due out today.
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