Tag archive for ‘Insurance industry news’
Majesco strengthens distribution management platform with new capabilities
By businessnewstoday On Sunday, April 11th, 2021
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Majesco strengthens distribution management platform with new capabilities

(adsbygoogle = window.adsbygoogle || []).push({}); US insurtech company Majesco has announced the general availability of new key capabilities to its distribution management platform. The new generally More...

Security Service Insurance acquires Pace Insurance Managers
By businessnewstoday On Wednesday, April 7th, 2021
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Security Service Insurance acquires Pace Insurance Managers

Security Service Insurance said that it has acquired Pace Insurance Managers, an insurance agency based in Springhill, Louisiana, for an undisclosed price. Pace Insurance Managers offers property, general liability, More...

Genworth Financial scraps $2.7bn merger deal with China Oceanwide
By businessnewstoday On Wednesday, April 7th, 2021
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Genworth Financial scraps $2.7bn merger deal with China Oceanwide

US insurance company Genworth Financial said that it has exercised its right to scrap its $2.7 billion merger deal with Chinese investment company China Oceanwide owing to regulatory obstacles. The deal was signed More...

The Hilb Group acquires employee benefits agency Andrews Benefits
By businessnewstoday On Tuesday, April 6th, 2021
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The Hilb Group acquires employee benefits agency Andrews Benefits

The Hilb Group (THG), a US property and casualty (P&C) and employee benefits insurance brokerage, has acquired Andrews Benefits based in Connecticut for an undisclosed price. Andrews Benefits, which is an employee More...

Arthur J. Gallagher acquires claims investigation firm Terrier Claims Services
By businessnewstoday On Saturday, April 3rd, 2021
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Gallagher acquires claims investigation firm Terrier Claims Services

Arthur J. Gallagher & Co. said that Gallagher Bassett Services (GB), its risk management services subsidiary, has acquired Terrier Claims Services (TCS) and its affiliate – MT Investigations, based in More...

Northwest Bank to sell insurance business to USI Insurance Services
By businessnewstoday On Saturday, April 3rd, 2021
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Northwest Bank to sell insurance business to USI Insurance Services

Pennsylvania-based Northwest Bank has agreed to divest its insurance business – Northwest Insurance Services to insurance brokerage USI Insurance Services for an undisclosed price. Northwest Insurance Services More...

US insurtech company Next Insurance raises $250m in new funding round
By businessnewstoday On Wednesday, March 31st, 2021
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US insurtech company Next Insurance raises $250m in new funding round

Next Insurance, a US digital insurtech company which provides small business insurance, has raised $250 million in a Series E round to take its valuation to $4 billion. The funding round was led by insurtech-focused More...

Allstate Life Insurance Company of New York to be sold to Wilton Re
By businessnewstoday On Monday, March 29th, 2021
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Allstate Life Insurance Company of New York to be sold to Wilton Re

The Allstate Corporation, an Illinois-based insurance company, has agreed to sell Allstate Life Insurance Company of New York (ALNY) to Wilton Re for $220 million. The deal, along with the previously announced transaction More...

Aviva to divest Aviva Poland to German insurer Allianz for €2.5bn.
By businessnewstoday On Saturday, March 27th, 2021
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Aviva to sell Aviva Poland to German insurer Allianz for €2.5bn

Aviva, a UK-based multinational insurance company, has agreed to divest its Polish business – Aviva Poland to German insurance company Allianz for €2.5 billion in an all-cash deal. The British insurer said More...

AIA Group signs $650m bancassurance deal with Bank of East Asia
By businessnewstoday On Wednesday, March 24th, 2021
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AIA Group signs $650m bancassurance deal with Bank of East Asia

AIA Group has signed a new exclusive 15-year bancassurance deal worth HK$5.07 billion ($650 million) with The Bank of East Asia (BEA), which covers Hong Kong and Mainland China. As per the terms, Bank of East Asia More...