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WellCare Health Plans Inc. agreed to acquire Aetna Inc.'s entire stand-alone Medicare Part D prescription drug plan business, effective Dec. 31. Aetna and CVS Health Corp. said they expect the transaction to be a significant step toward completing the U.S. Department of Justice's review of their deal.
Nasdaq-listed pet insurer Trupanion Inc. denying a report that the New York Department of Financial Services is actively investigating the company. The Capitol Forum, an investigative news and legal analysis company, subsequently amended the report. Trupanion shares closed down more than 10% yesterday.
Zurich Insurance Group AG is poised to become the largest foreign property-and-casualty insurer in Indonesia after agreeing to acquire an 80% stake in PT Asuransi Adira Dinamika for 6.15 trillion rupiah, or about US$412 million.
U.K.-based The Ardonagh Group Ltd. agreed to acquire fellow British insurance broker Swinton Group Ltd. from French mutual insurance group SGAM Covéa for approximately £165 million.
Meanwhile, Covéa said CEO Thierry Derez will temporarily withdraw from Scor SE's board following the latter's rejection of Covéa's takeover offer. It also said it would abide by a shareholder agreement not to increase its Scor stake beyond 10% until April 2019, but that it remains interested in discussing a "friendly transaction." Meanwhile, activist investor CIAM wrote to the head...