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Weekly news: James River cancels Uber affiliate account; Arch, AXIS cat losses

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Weekly news: James River cancels Uber affiliate account; Arch, AXIS cat losses

Life and health

Prudential Financial Inc. has completed its acquisition of Assurance IQ for about $2.35 billion. Under the terms of the merger, Assurance IQ became a fully owned subsidiary of Prudential at the closing of the deal.

Managed care

Former Blue Cross & Blue Shield of North Carolina CEO Patrick Conway was found guilty of charges arising from a car crash on a highway while his children were in the back seat.

Humana Inc. expanded its existing partnership with Accolade, a private healthcare company. The partnership includes a $20 million strategic investment into Accolade from Humana.

Multiline

John Panagakis has been named CEO of American International Group Inc. investment unit First Principles Capital Management LLC.

Property and casualty

Arch Capital Group Ltd. projects pretax losses of about $65 million to $75 million, net of reinsurance recoveries and reinstatement premiums, from catastrophic events during the third quarter.

The independent directors of Argo Group International Holdings Ltd. are conducting a review of the company's governance and compensation matters, following the board's approval of compensation-related changes in August.

Arthur J. Gallagher & Co. acquired Louisville, Ky.-based Garrett-Stotz Co. for undisclosed financial terms.

AXIS Capital Holdings Ltd. projects pretax losses of between $150 million and $175 million from catastrophic events during the third quarter.

James River Group Holdings Ltd. will cancel all insurance policies issued to its largest customer, an Uber Technologies Inc. affiliate, effective Dec. 31. Shares of the company tumbled 22% a day after it disclosed the news.

Private U.S. property and casualty insurers' surplus reached a record of $802.2 billion in the first six months of the year as the stock market recovered from a significant downturn at the end of 2018, according to Verisk Analytics and the American Property Casualty Insurance Association.

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