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Weekly news: Cincinnati buying Munich Re unit; Travelers partners with Amazon

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Weekly news: Cincinnati buying Munich Re unit; Travelers partners with Amazon

Property and casualty

Cincinnati Financial Corp. signed a definitive agreement to acquire London-based MSP Underwriting Ltd. from Munich Re Co. in an all-cash transaction for £102 million ($134.5 million), based on MSP Underwriting's projected net asset value at closing.

Maiden Holdings Ltd. entered into an agreement to sell its U.S. casualty facultative reinsurance team to Sompo Group.

Ascot Group Ltd launched Ascot Insurance U.S., an admitted and surplus lines insurance business.

American Financial Group Inc. agreed to acquire Shaker Heights, Ohio-based ABA Insurance Services Inc. from American Bankers Mutual Insurance Ltd. for about $28 million in cash.

Natural catastrophes across the globe in September caused tens of billions of dollars in economic losses, according to insurance broker Aon PLC's latest Global Catastrophe Recap report.

Chubb Ltd. disclosed preliminary estimated third-quarter losses of $450 million pretax, or $372 million after tax, attributable to natural catastrophes.

Travelers Cos. Inc. is working with Amazon.com to offer smart home kits and insurance and risk management information solutions through a digital storefront.

Life and health

The U.S. Justice Department indicated that it will approve of CVS Health Corp.'s pending $69 billion deal to acquire Aetna Inc. once both companies divest their Medicare Part D businesses.

Centene Corp. plans to enter the Affordable Care Act marketplaces in Pennsylvania, North Carolina, South Carolina and Tennessee in 2019.

Principal Financial Group Inc. is asking shareholders to reject an unsolicited mini-tender offer from Baker Mills LLC, which is seeking to buy up to 90,000 Principal shares from stockholders.

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