The health insurer Cigna has agreed to buy pharmacy benefit manager Express Scripts, in a USD52 billion deal. The acquisition is the latest in a wave of consolidations that is sweeping through the healthcare industry amidst concerns over rising healthcare costs and the entry of new organisations in the industry....
Etiqa Group Insurance & Takaful posted record profit before tax of MYR1.1 billion for the financial year ended Dec 31, 2017 as it retained its top position in the general insurance and general takaful segment. Etiqa, has said this was an 18.5 percent increase from the MYR855 million in FY16....
Videocon Industries Ltd has announced the sale of its entire stake in its joint venture with US-based Liberty Mutual Insurance Group to Diamond Dealtrade Ltd and Enam Securities Pvt Ltd. Videocon, which had a 51.32 percent stake in the venture, Liberty Videocon General Insurance Company Ltd, sold 26 percent stake...
A new cybersecurity risk management solution is in the works from Apple and Cisco, in partnership with insurance provider Allianz and professional services firm Aon, the companies announced in a press release. Each party will offer a different piece of the solution, ranging from risk assessment to follow-up services. The...
AXA announced it had entered into an agreement with Elkhan Garibli to sell all its insurance operations in Azerbaijan. Under the terms of the agreement, Garibli would acquire 100 percent of the non-life entity. The parties agreed not to disclose the terms and conditions of the transaction. Completion of the...
Standard Life Aberdeen (SLA) has agreed to sell the bulk of its insurance business to Phoenix Group for GBP3.24 billion, as it posted broadly in-line full-year results. The deal will see SLA receive GBP2.3 billion in cash and a 19.9 percent stake in Phoenix, which becomes Europe’s largest company focused...
Zurich Insurance has announced that it was buying QBE Insurance Group’s Latin American business for USD409 million. The acquired business had gross premiums of USD790 million last year, with Argentina representing about half and the rest divided among Ecuador, Mexico, Brazil and Colombia, Zurich said in a statement recently. “This...
Aspen has closed its Bermuda-based US property insurance unit a few days after the company reported a net loss of USD184.9 million for the fourth quarter, and a net loss after tax of USD266.4 million for the year. During a recently held call discussing earnings, the company indicated it was...
Lloyd’s of London has stated that it has followed in the path of other insurance companies and will stop financing coal power projects in support of climate action starting in April. The coal exclusion is part of its responsible investment strategy, but the precise definition of what constitutes a coal company...
AXA has entered into an agreement to acquire 100 percent of XL Group Ltd. The merger agreement has been unanimously approved by the boards of AXA and XL Group, stated a press release. Total consideration for the acquisition would amount to USD15.3 billion (or EUR12.4 billion), to be fully paid...
