Insurance dealmaking in the first quarter hit nearly $28bn when it came to announced deals, but only two transactions comprised the bulk of that amount.
Wells Fargo's $1bn fine over force-placed auto insurance may end that woeful chapter for the third-largest US bank but National General, the carrier entangled in the scandal, remains under scrutiny, The Insurance Insider understands.
Insurers and brokers have found a US Senate ally in their drive to keep federal regulators from encroaching on the state-based system that has guided the industry for more than a century.
Arch Capital’s mortgage insurance unit has closed another reinsurance deal with Bellemeade Re, the reinsurance structure it acquired from AIG with United Guaranty at the start of last year.
Generali took another step toward narrowing its focus with a EUR540mn ($669.6mn) agreement to sell its Belgian business to Apollo Global Management-backed life specialist Athora Holdings.
