News

Insurance

Reuters | Equities.com |

Anthem Inc will give financial incentives to all associates who are fully vaccinated against COVID-19, the U.S. company said on Wednesday, making it the first health insurer to reward employees for getting inoculated.

After completing the vaccination, Anthem employees can either receive a one-time credit toward medical premiums or donate the credit to the Anthem Cares Fund, the company said.


Reuters | Equities.com |

Apollo Global Management Inc said on Monday it will merge with Athene Holding Ltd in an $11 billion all-stock deal, bringing in-house an annuities provider that helped turned it into one of the world’s largest corporate credit investors.

Apollo has been getting paid lucrative fees by Athene, in which it currently holds a 27% stake, for more than a decade, providing asset allocation services and directly managing a portion of Athene’s assets across its investment platform, primarily in its ever-expanding credit business.


Reuters | Equities.com |

Rising sea levels and extreme weather could cause $20 billion of flood damage to at-risk U.S. homes this year, rising to $32 billion by 2051, according to research from New York-based flood research non-profit First Street Foundation published on Monday.

“Increased awareness of flood risk and rising future insurance costs impact perceptions of value, which will impact real estate markets,” said Matthew Eby, founder and executive director of First Street Foundation.


Kimberly Redmond | Equities.com |

A U.S. District judge in Manhattan dismissed most of a shareholder lawsuit accusing General Electric of concealing billions of dollars of insurance liabilities and misleading its investors with questionable accounting practices. 

On Friday, the judge dismissed fraud claims regarding the alleged misrepresentations of the company’s insurance portfolio and service agreements, Reuters reported. (https://www.reuters.com/article/us-ge-lawsuit/ge-gets-dismissal-of-most-of-...


AP News | Equities.com |

President Joe Biden on Thursday ordered government health insurance markets to reopen for a special sign-up window, offering uninsured Americans a haven as the spread of COVID-19 remains dangerously high and vaccines aren’t yet widely available.

Biden signed an executive order directing the HealthCare.gov insurance markets to take new applications for subsidized benefits, something Donald Trump’s administration had refused to do. He also instructed his administration to consider reversing other Trump health care policies, including curbs on abortion counseling and the imposition of work requirements for low-income people getting Medicaid.


Brian Wallace | Equities.com |

The pandemic has fundamentally changed the way we drive as well as migration patterns around the globe, which have led the way to significant insurance givebacks in the US.  In addition to this, the rise of mainstream autonomous vehicles will surely change the way auto insurance will be calculated - but how? Check out this deep dive visual for more:


Kimberly Redmond | Equities.com |

UnitedHealth Group reported a drop in fourth quarter earnings, a decline the health insurance company partially attributed to COVID-19-related care costs.

On Wednesday, the Minnesota-based company reported a quarterly profit of $2.21 billion, a 37% decrease, but ahead of Wall Street's expectations. On a per-share basis, UnitedHealth's net income was $2.30 per share, or $2.52 after one-time adjustments.


Reuters | Equities.com |

Health insurer UnitedHealth Group on Wednesday agreed to buy Change Healthcare for $7.84 billion in an all-cash deal, as it looks to expand its fast-growing healthcare technology business.

UnitedHealth will pay $25.75 per Change Healthcare share, a premium of 41.2% to Tuesday’s closing price. Shares of Change, which will merge with UnitedHealth unit Optum, were trading near the offer price at $23.88.

Change Healthcare, which is 20% owned by Blackstone Group, provides billing and payment process services to more than 2,000 payers and 1 million providers, according to Citi.


Reuters | Equities.com |

The European Union’s antitrust regulators are to open a full-scale investigation into Aon’s $30 billion bid for Willis Towers Watson to create the world’s largest insurance broker, two people familiar with the matter said.

The all-stock deal, which would merge the world’s second and third largest brokers, has attracted regulatory scrutiny due to concerns it would give the combined group increased pricing power.

A full probe by the EU’s executive, the European Commission, would follow a preliminary review due to end on Dec. 21. The Commission declined to comment, as did Aon and Willis. A full-scale EU investigation normally takes about five months.