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Week in pictures

Published July 31, 2015 - 10:51am CST

A possible break on the missing Malaysia Air jet, a big fine for Fiat Chrysler, a new lineup at Ace/Chubb, cyber pain and suffering and more from Business Insurance.

Broker, agency join to service alternative reinsurance market

By: Donna Mahoney

Published July 30, 2015 - 4:12pm CST

Vanbridge Holdings L.L.C., a New York insurance broker, and Atlas General Holdings, a San Diego insurance agency, have entered a strategic partnership targeting the traditional and alternative reinsurance sector.

Zurich says any RSA offer probably would be in cash

By: Sarah Veysey

Published July 29, 2015 - 9:52am CST

Zurich Insurance Group Ltd. said Wednesday that any offer it may make for RSA Insurance Group P.L.C. likely would be made solely in cash.

Ace outlines leadership changes on Chubb acquisition

By: Matthew Lerner

Published July 28, 2015 - 12:33pm CST

Ace Ltd. on Tuesday said it has reorganized the leadership team for its North American insurance operations to take effect upon completion of its acquisition of Chubb Corp.

Centene considers snapping up Medicare Advantage plans from rivals

Published July 28, 2015 - 12:32pm CST

(Reuters) — Health insurer Centene Corp. reported a better-than-expected quarterly profit and said it would consider buying the Medicare Advantage plans its rivals are likely to divest during the current phase of consolidation in the managed care industry.

Everest Re profit down on natural catastrophe losses

By: Stephanie Goldberg

Published July 28, 2015 - 12:22pm CST

Everest Re Group Ltd. reported second-quarter net income of $209.1 million, a 27.9% decrease from the same period last year, due to weather-related losses and “challenging” market conditions.

Proxy firms advise PartnerRe shareholders to accept Exor offer

By: Matthew Lerner

Published July 28, 2015 - 11:27am CST

Two leading proxy advisory firms have recommended that PartnerRe Ltd. accept a cash buyout rather than approve a merger with Axis Capital Holdings Ltd. — but they also told Axis shareholders to vote for the merger.

Zurich mulls offer for RSA Insurance

By: Sarah Veysey

Published July 28, 2015 - 9:15am CST

Zurich Insurance Group Ltd. said Tuesday it is evaluating a potential offer for London-based multiline insurer RSA Insurance Group P.L.C.

Chinese firm to acquire international unit of American insurer

By: Sarah Veysey

Published July 27, 2015 - 9:36am CST

Hanover, New Hampshire-based White Mountains Insurance Group Ltd. on Monday said it has sold its property/casualty reinsurance and insurance unit Sirius International Insurance Group Ltd. to CM International Holding Pte. Ltd.

Employer fallout uncertain from Anthem's purchase of Cigna

By: Jerry Geisel

Published July 24, 2015 - 2:41pm CST

Anthem Inc.'s purchase of Cigna Corp.—the biggest deal, by far, in the health insurance industry — poses rewards and risks for employers, health care benefits experts say.

The week in pictures

Published July 24, 2015 - 11:24am CST

The urge to merge, more breaches and California wine country wildfires filled the week at Business Insurance. View the gallery

Anthem to buy Cigna for $54 billion

By: Reuters

Published July 24, 2015 - 6:22am CST

Anthem Inc. said on Friday it would buy Cigna Corp. in a deal valued at $54.2 billion, creating the largest U.S. health insurer by membership.

Atlanta benefits broker expands in Southeast

By: Joyce Famakinwa

Published July 23, 2015 - 1:26pm CST

Atlanta-based employee benefits broker Digital Insurance Inc. on Thursday said it has acquired Compass Consulting Group Inc. and its affiliate, Prospective Risk Management.

Insurance broker expands into Colorado Rockies

By: Joyce Famakinwa

Published July 23, 2015 - 11:29am CST

AssuredPartners Inc. on Thursday said it has acquired Denver-based Peliton Insurance and Peliton Benefits from Peliton L.L.C.

Anthem set to announce deal for Cigna this week: Sources

Published July 23, 2015 - 9:28am CST

(Reuters) — U.S. health insurer Anthem Inc. is close to finalizing negotiations to acquire peer Cigna Inc. and could announce a roughly $48 billion deal as early as this week, two people familiar with the matter said on Wednesday.

Broker acquires independent Connecticut agency

By: Joyce Famakinwa

Published July 22, 2015 - 3:21pm CST

AssuredPartners Inc. on Wednesday said it has acquired Torrington, Connecticut-based independent insurance agency Founders Insurance Group Inc.

Exor ups PartnerRe ante again in merger tug of war

By: Matthew Lerner

Published July 20, 2015 - 11:25am CST

Exor S.p.A., the Italian investment firm, has again raised its offer for reinsurer PartnerRe Ltd. in an attempt to prevail over Axis Capital Holdings Ltd. in the companies' three-way takeover battle.

Insurer mergers and acquisitions expected to continue

By: Mark A. Hofmann

Published July 20, 2015 - 11:24am CST

Merger and takeover activity is likely to continue in the property/casualty insurance market, according to a report released Monday by A.M. Best Co. Inc.

Arthur J. Gallagher acquires 65% interest in Colombian broker

By: Mark A. Hofmann

Published July 20, 2015 - 8:33am CST

Arthur J. Gallagher & Co. on Monday said it has acquired a 65% equity interest in ARM Re Ltda. Corredores de Reaseguros, located in Bogota, Colombia.

Consolidation set to change the dynamics of health insurance exchanges

By: Matt Dunning

Published July 19, 2015 - 6:00am CST

Major health insurer consolidation could reshuffle the private health insurance exchange marketplace, potentially to the benefit of employers.

Ace, XL prepare to address challenges of growth

By: Judy Greenwald

Published July 19, 2015 - 6:00am CST

Ace Ltd. and XL Group P.L.C., born of the mid-1980s liability crisis, have become successful global players largely through acquisitions, though they face several challenges resulting from their latest purchases.

Mergers concentrate health insurers

By: Matt Dunning

Published July 19, 2015 - 6:00am CST

Consolidation among the largest U.S. health insurers will increase their clout with health care providers, but whether that means lower costs for employers remains to be seen.

Broker M&A deals set record pace in first half

By: Timothy J. Cunningham and Daniel P. Menzer

Published July 19, 2015 - 6:00am CST

Private equity-backed buyers again dominated mergers and acquisitions of insurance agents and brokers during the record-setting first half of 2015.

Week in pictures

Published July 17, 2015 - 10:37am CST

Welcome to the Drone Age, Germanwings crash aftermath, NFL cheerleaders as employees and more from Business Insurance.

Lawyer indicted for insider trading ahead of insurer merger

Published July 17, 2015 - 8:53am CST

(Reuters) — A Pennsylvania lawyer was indicted Thursday on charges that he engaged in insider trading after learning that a client at his law firm was about to announce a merger.

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