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Japan's Sompo to buy Endurance; Markel/Allied World deal talks fail


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Japan's Sompo to buy Endurance; Markel/Allied World deal talks fail

Inthe news

Confirming earlier reports, Tokyo-based Sompo Holdings Inc. agreed to acquire 100% of Bermuda-based forapproximately $6.30 billion.

The acquisition will allow the Japanese company togrow its overseas presenceand compete with big global players.

In more deal-related news, negotiations on 's potentialacquisition of Allied WorldAssurance Co. Holdings AG have failed, TheInsurance Insider reported.

The Oklahoma Insurance Department health insurance premiums toincrease by an average of 76% for individual coverage through the ACA'smarketplace in the state.

About 2.5 million Americans failed to take advantageof taxcredits mandated under the healthcare law because they buy individualhealth insurance plans outside of the ACA marketplace, according to the U.S.Department of Health and Human Services. California, Texas, Florida, NorthCarolina, Illinois and Pennsylvania each have more than 100,000 residents whomay be eligible for tax credits.

Kansas Commissioner of Insurance Ken Selzer approvedthe National Council on Compensation Insurance Inc.'s workers' compensationrate filing for 2017, the InsuranceJournal reported. The filing shows a decrease of 8.4% in the voluntary baserate and a decrease of 7.8% for assigned risk workers' compensation rates.

Ascension Insurance Inc. and subsidiary AscensionInsurance Agency Inc. agreed to acquire Greenpoint Insurance Group Inc.'soperations in High Point and Lexington, N.C., and Warrenton and Marshall, Va.,where it operates as Carr & Hyde.

The Plexus Groupe LLC Carol Stream, Ill.-based IngensaInsurance Services, an insurance and financial services company.

TokioMarine HCC hired Brad Breau as senior vice president and chiefinformation officer.

Financialnews in other parts of the world

Asia-Pacific: Sompo Holdings to acquire Endurance Specialty; India cuts policyrates

Middle East & Africa:

Europe: Bradford & Bingley loan sale resumed; Bankia-BMN merger likelyin 2017

Theday ahead

Early morning futures indicators pointed to a loweropening for the U.S. market.

In Asia, the Hang Seng was up 0.42% to 23,788.31. TheNikkei 225 climbed 0.50% to 16,819.24.

In Europe as of midday, the FTSE 100 dropped 0.63% to7,029.75, and the Euronext 100 fell 0.77% to 884.16.

Onthe macro front

The ADP employment report, the international tradereport, the Gallup U.S. job creation index, the PMI services index, the factoryorders report and the ISM non-manufacturing index are due out today.